Podcasts about Uranium

Watch on YouTube The uranium market has seen a pullback recently, but the managers of closed-end investment company Geiger Counter see huge opportunities. They tell us why they are very positive about uranium going forward, and walk us through key aspects of the uranium market, its pricing dynamics, how its mined, what it's used for, who buys it, and why it's safer than wind power.

Trevor Hall and Justin Huhn share insights into a rather bleak uranium and nuclear energy market, exploring the geopolitical influences, tariff impacts, and the dynamics of American nuclear projects. They analyze the volatility in the market, the reliance on foreign uranium, and the implications for future pricing and equity trends. The conversation emphasizes the importance of understanding market signals and the potential for price movements in the coming year.

New York Times' bestselling author Larry McDonald, founder of The Bear Traps Report, returns to The Julia La Roche Show for an in-person episode to discuss the markets and the economy. Sponsor: This episode is brought to you by Monetary Metals. https://monetary-metals.com/julia In this episode, McDonald discusses capital flows moving away from US markets. McDonald explains how European investors are pulling back following tariff policies and growing deficits. He discusses why copper, uranium, and oil services present value opportunities while predicting the possibility of "4000 gold and 4000 S&P." McDonald warns that America faces conditions with weakness in stocks, bonds, and currency simultaneously, creating what he calls a potential "Lehman moment" of uncertainty.Links: How To Listen When Markets Speak: https://www.amazon.com/Listen-When-Markets-Speak-Opportunities-ebook/dp/B0C4DFVFNR Twitter/X: https://x.com/convertbondBear Traps Report: https://www.thebeartrapsreport.com/00:00 - Introduction and welcome Larry 02:26 - Institutional investor conversations and European capital flows05:00 - American exceptionalism and crowded US investments08:24 - Understanding Wall Street research and consensus thinking10:27 - The new investing era: Niall Ferguson's insights on multi-polar world11:55 - The coming copper crisis and investment opportunity17:12 - Gold as a stable store of value compared to Bitcoin20:00 - Uranium market opportunities and tourist investors21:44 - S&P earnings projections and market indicators24:18 - Value stock opportunities in a changing market26:10 - NASDAQ vs energy stocks: the massive valuation gap28:42 - Trump's tariff policy and its global investment impact32:21 - Tariffs as both regressive tax and tax on consumption35:00 - Tariff policy creating Lehman-like uncertainty39:14 - The "emerging market" problem facing the US40:00 - Closing thoughts on democratizing financial information

Interview with Simon Cmrlec, Chief Operating Officer of Vizsla Silver.Our previous interview: https://www.cruxinvestor.com/posts/vizsla-silver-tsxvzla-aiming-for-production-h2-2027-6651Recording date: 16th April, 2025Vizsla Silver represents one of the most compelling pure-play silver investment opportunities in the market today, with a clear path to becoming Mexico's next significant silver producer by late 2027. Under the leadership of Simon Cmrlec, former COO of respected mining engineering firm Ausenco, the company is methodically advancing what Cmrlec describes as "one of the greatest undeveloped silver projects" in his career. The Sinaloa, Mexico project stands out for its exceptional grade profile, with a total resource of over 360 million ounces of silver equivalent and measured and indicated resources of 222 million ounces – significantly exceeding the 170 million ounces planned for production in the company's preliminary economic assessment (PEA).What sets Vizsla apart from many development-stage mining companies is its rare combination of high-grade mineralization and exceptional infrastructure. The project is positioned between two major highways with high-voltage power lines running directly across the property and adequate water resources. This infrastructure advantage dramatically reduces capital requirements and development risks compared to peers developing resources in remote locations. As Cmrlec notes, the ability to "make a discovery right here on a highway" was immediately apparent as a significant competitive advantage.The company's engineering approach demonstrates a conservative methodology focused on risk mitigation while preserving upside potential. The metallurgical testing program has progressed through four comprehensive phases, with over 40 composite samples tested. Recent drilling success has not only increased resource confidence but also improved grades by approximately 5% across the property and 10% in the critical early mining areas at Copala. This combination of resource growth and grade improvement positions the upcoming feasibility study to potentially outperform the already robust PEA projections.With permitting underway, financing discussions advancing, and a test mine already in construction using permanent infrastructure specifications, Vizsla is effectively in the early construction phase. The company's careful approach to mining methods and tailings management demonstrates a thoughtful balance between operational efficiency and environmental considerations. Importantly, the relatively modest scale of operations – processing 3,300 to 4,000 tonnes per day – creates a manageable development path without the capital intensity of larger operations.For investors seeking exposure to silver – a metal with increasingly favorable supply-demand dynamics driven by both industrial applications and monetary demand – Vizsla offers a compelling proposition. The company combines the exploration upside of continued resource growth with the defined development timeline of an advancing project. With experienced technical leadership, a clear production pathway targeting late 2027, and a high-grade resource in a jurisdiction with established mining infrastructure, Vizsla Silver represents a differentiated opportunity in the precious metals space. The company has consistently delivered on milestones over the past two years, building credibility for its execution capability and increasing confidence in its development timeline.—Learn more: https://www.cruxinvestor.com/companies/vizsla-silver-corpSign up for Crux Investor: https://cruxinvestor.com

A good end to the week as the ASX 200 rose 60 points to 7808 (0.8%), breaking through as SPI expiry boosted volumes. Positive US futures helping the Easter Bunny remain positive., For the week the ASX 200 is up 2.3%. Today was all about gold and resources, BHP up 1.1% and RIO up 2.9% doing well on broker reactions to production reports. Gold miners better, but looking a little tired short term, EVN up 1.7% and NST up 1.2% with VAU up 3.2%. Lithium saw some gains, PLS up 4.4% and MIN up 2.4% with LTR up 3.9%. ILU doing well on the rare earths play, up 5.6%. Oil and gas stocks rose, WDS up 3.9% with STO up 2.9% with KAR rising 7.6% on Q1 report. Uranium stocks gaining, as shorts covered, PDN up 4.1% and BOE up 4.0%. Banks were solid, the Big Bank Basket up to $254.43 (+0.7%). Financials were better with CGF rising 10.2% on a 3Q update. IFL rose 3.3% as DD was extended another 4 weeks to both bidders. REITs better as rate fell, 10-year yields dropping to 4.28%. Industrials firmed, with CPU up 1.0%, REA up 0.9% and JHX rallying 2.3% on news big investors are lobbying the ASX to scrutinise the takeover. In corporate news, AMP rallied 3.2% after an increase in net cash flows, BHP shipped weaker-than-expected volume of Australian iron ore over the past three months. PLS blamed the cyclone for a production drop, up 4.4%. WTC fell 2.2% as ASIC looking at White's trades. On the economic front, we got jobs numbers, 4.1% with 32k new jobs slightly below forecasts. Asian Japan up 0.8%, HK up 1.3% and China off 0.2%. Want to invest with Marcus Today? The Managed Strategy Portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you.If you're looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.  Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.

GoviEx Uranium Inc CEO Daniel Major talked with Proactive's Stephen Gunnion about the company's latest milestone—the submission of a draft Environmental and Social Impact Assessment (ESIA) for its Muntanga uranium project in Zambia. This filing follows the completion of a feasibility study that defined the project's structure and has triggered the next phase of regulatory review. “We now wait for ZEMA, the Zambian Environmental Management Agency, to come back with their comments,” Major said, expressing confidence in the clean design and minimal environmental issues identified so far. He added that the company hopes to receive approvals in the third or fourth quarter of this year, potentially allowing construction to commence, pending financing. Major also emphasised Muntanga's strategic position as one of the few near-term uranium projects that could help address an anticipated supply deficit from 2029 onwards. Citing the latest Red Book report, he noted that while uranium resources are ample, there is a shortfall of ready-to-develop projects. He also addressed current uranium pricing, stressing the need for both spot and long-term prices to rise above $80 to incentivise new development. “Prices have got to go higher. And they have to be built,” he said, referring to new uranium projects. For more videos like this, visit Proactive's YouTube channel. Don't forget to like this video, subscribe, and turn on notifications for future updates. #GoviExUranium #UraniumMining #MuntangaProject #NuclearEnergy #ZambiaMining #UraniumPrices #EnergySupply #ESIA #UraniumProjects #ProactiveInvestors

Interview with Peter Van Alphen, President & CEO of Nuvau Minerals Corp.Recording date: 11th April 2025Nuavu Minerals is set to transform the historic Matagami mining camp in Quebec, Canada through a dual strategy of near-term production and extensive exploration across its substantial 1,300 square kilometer property. Under the leadership of President and CEO Peter van Alphen, the company is nearing completion of an earning agreement with Glencore that will grant them 100% ownership of this past-producing base metal asset.The company plans a two-phase production approach, beginning with restarting the recently closed Bracemac McLeod mine, which contains approximately one million tons of resource with a potential to expand to two million tons. This "starter mine" would provide roughly three years of production while the company develops the Caber complex on the western side of the property. The Caber complex contains approximately 10 years of defined resources across three deposits, representing the first significant development on the western portion of the property in the camp's 60-year production history.A key advantage for Nuavu is the relatively modest capital requirement of approximately $50 million to restart operations, including refurbishing the existing 3,000-ton-per-day mill, which they have the option to acquire for $5 million. Van Alphen estimates the total infrastructure value included in the deal at $300-400 million.The exploration potential is equally compelling, with over 80 VMS-style deposit targets identified across the property. Perhaps most intriguing is the recently discovered gold potential, which includes what may be the highest gold grain count ever found in the Abitibi region, with over 2,000 grains of pristine gold particles per 10kg sample. The property sits on the Sunday Lake deformation zone, which hosts major gold deposits along strike.Van Alphen brings valuable experience from FNX Mining, Lake Shore Gold, Tahoe Resources, and Premier Gold, with a track record of revitalizing past-producing mines through hands-on management. "This could be the FNX of Quebec," he notes, drawing parallels to previous successful mine restarts.With strong community support in Matagami, a mining-friendly jurisdiction in Quebec, and a targeted production start in 2027, Nuavu is positioning itself at the intersection of near-term production potential and significant exploration upside in both base metals and gold, creating multiple potential value drivers for the company as it works to revitalize this historic mining region.Sign up for Crux Investor: https://cruxinvestor.com

The ASX 200 consolidated the move yesterday with a gain of 13 points to 7762. Easter is calling it seems. Banks were the key with the Big Bank Basket up to $250.19 (0.6%). CBA up 0.5% and MQG gaining 0.8% too. Other financials were a little soggy, GQG down 1.9% with HUB falling 2.9% despite good FUA numbers. PNI dropped 5.0%. REITs eased back too, GMG down 1.2% and SCG down 0.9%. Healthcare saw CSL better despite threats from Trump to put tariffs on pharma; Industrials drifted lower. WOW down 1.8% with REA off 1.8% and tech under some pressure. WTC down 2.2% with XRO falling 1.5% as the All-Tech index dropped 0.8%. Retail generally slipped with SUL off 2.9% and FLT falling 2.8%. Resources were flat in the main; EVN had a great quarterly and rose 3.9%, whilst other gold miners saw some profit-taking; BHP, RIO, and FMG showed slight gains. LYC and other rare earth stocks in demand,  as China blocks exports. Uranium and coal stocks falling away, NXG down 2.6% and NHC off 1.3%. In corporate news, BGL resumed trade down % as it raised $156m to buy back its hedge. CKF fell 7.7% on news it will close Taco Bell. PPT fell 1.4% as money left the building and AX1 up 4.7% on news of Sports Direct launch. On the economic front, The RBA minutes left the door open for a possible May rate cut. Asian markets mixed, Japan up 0.9%, HK down 0.3% and China down 0.3%. 10-year yields falling to 4.35%.Want to invest with Marcus Today? The Managed Strategy Portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you.If you're looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.  Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.

This Week on Earth Station DCU! Drew Leiter and Cletus Jacobs wrap up various miniseries we've been reviewing. The Justice Society of America regroups after their last battle and Stargirl gives a graduation speech in Justice Society of America #12. As threats from the past resurface in his present, Batman must work alongside strange new heroes to save the day—including the steel-hearted sheriff of Smallville in Batman: Gotham by Gaslight – The Kryptonian Age #3, 4 ,5 ,6. Slade Wilson and his unlikely band of allies hack and slash their way through the zombie-ridden streets of Gyllenhjem to bring an end to magus Viktor of House Fries' icy grip on the realm in Dark Knights of Steel: Allwinter #3, 4 ,5 ,6. Plastic Man, struggling with his unstable powers and searching for a cure for his condition, steals Uranium from the Metal Men, believing a nuclear explosion will save him in Plastic Man No More! #2, 3, 4. Zatanna's ex-boyfriend John Constantine whisks her away learning that the casters originally sent him to kill her. Instead, John casted a spell that hid her from her father, who had been stealing her power in Zatanna: Bring Down the House #4 & 5. All this plus, DC News, Shout Outs, and much, much more! ------------------------ Table of Contents 0:00:00 Show Open 0:01:04 DC News 0:08:50 Justice Society of America #12 0:12:43 Batman: Gotham by Gaslight - The Kryptonian Age #4, 5, 6 0:21:46 Dark Knights of Steel: Allwinter #3, 4 ,5 ,6 0:31:18 Plastic Man No More! #2, 3, 4 0:35:56 Zatanna: Bring Down the House #4 & 5 0:40:44 Show Close   Links Justice Society of America #12 Batman: Gotham by Gaslight - The Kryptonian Age #4 Batman: Gotham by Gaslight - The Kryptonian Age #5 Batman: Gotham by Gaslight - The Kryptonian Age #6 Dark Knights of Steel: Allwinter #3 Dark Knights of Steel: Allwinter #4 Dark Knights of Steel: Allwinter #5 Dark Knights of Steel: Allwinter #6 Plastic Man No More! #2 Plastic Man No More! #3 Plastic Man No More! #4 Zatanna: Bring Down the House #4 Zatanna: Bring Down the House #5 Batman: Gotham by Gaslight (Cletus's Read More Comics Pick) Justice League Dark Vol. 1: The Last Age of Magic (Drew's Read More Comics Pick) Earth Station DCU Website The ESO Network If you would like to leave feedback, comment on the show, or would like us to give you a shout out, please call the ESDCU feedback line at (317) 455-8411 or feel free to email us @ earthstationdcu@gmail.com

Interview with Sam Spring, President & CEO of Kincora Copper Ltd.Our previous interview: https://www.cruxinvestor.com/posts/kincora-copper-tsxvkcc-explorer-advances-12-project-portfolio-through-major-partnerships-6580Recording date: 7th April 2025Kincora Copper has strategically shifted to a project generator business model, securing six asset-level deals that could unlock over $110 million in partner funding for exploration. This approach allows the company to advance its portfolio while minimizing shareholder dilution during challenging market conditions.The company's flagship partnership with AngloGold Ashanti consolidates a 100-kilometer strike with potential $100 million earn-in funding. Active exploration is underway, with the 12th drill hole currently in progress. The relationship extends beyond mere funding, with Spring describing it as "a real partnership and collaboration" that includes knowledge-sharing and technical expertise.Kincora's core objective is to manage approximately $10 million in annual partner-funded exploration, earning a 10% management fee to cover general and administrative expenses. This would create a self-sustaining business model that eliminates the need for regular dilutive financings.While AngloGold Ashanti is a key partner, Kincora has diversified its relationships with partners including Fleet Space, which provides ambient noise tomography technology; Earth AI, which is earning into an NSR royalty only if they make a discovery; and OB1 for their Mongolian assets.The company maintains a portfolio of 14 projects, primarily focused on porphyry copper-gold exploration in New South Wales, Australia. They're particularly interested in the undercover northern extensions of the Macquarie Arc, a region that has already produced world-class deposits and seen $16 billion in M&A activity.For more advanced projects like Trundle, Fairholme, and Jemalong, Kincora is being selective with partnerships, preserving these assets for potentially more favorable deals. CEO Sam Spring explained, "We're not going to go out there and do a cheap deal for Trundle. We know it's got existing large mineral systems."Despite the strategic progress, Kincora's share price has faced pressure, trading down from "six, six and a half" to "the twos." Spring attributes this partly to a significant shareholder offloading shares, a situation he suggests is nearing resolution.Looking ahead, Kincora has multiple potential value catalysts, including ongoing drilling results, new exploration initiatives, and potential new partnerships. The company aims to reach $10 million in annual partner-funded exploration while creating significant upside exposure to discovery potential in one of Australia's premier porphyry copper-gold districts.View Kincora Copper's company profile: https://www.cruxinvestor.com/companies/kincora-copper-limitedSign up for Crux Investor: https://cruxinvestor.com

Interview with Michael Hodgson, CEO of Serabi Gold PLCOur previous interview: https://www.cruxinvestor.com/posts/serabi-gold-lsesrb-38000-oz-gold-production-by-year-end-with-expansion-upside-6452Recording date: 11th April 2025Serabi Gold has kicked off 2025 with impressive momentum, delivering 10,013 ounces of gold production in Q1 – maintaining the strong rhythm established in Q4 2024 and exceeding budget expectations by approximately 800 ounces. The company is firmly on track to meet its 2025 production guidance of 44,000 - 47,000 ounces, with quarterly production expected to increase throughout the year, reaching 12,000 - 13,000 ounces by Q4.The financial transformation of Serabi over the past year has been remarkable. Cash reserves grew from just $5 million in Q1 2024 to $22.2 million by year-end, and have further increased to approximately $27 million following Q1 2025 results. This substantial improvement stems from both operational excellence and favorable market conditions, with high gold prices and a beneficial Brazilian Real exchange rate creating what CEO Michael Hodgson describes as "a great time to be a Brazilian gold producer."Serabi's growth trajectory is clearly defined, with production expected to increase from the current 44,000 - 47,000 ounces in 2025 to 60,000 ounces in 2026. The company has even more ambitious plans beyond this, with a goal of reaching 70,000-75,000 ounces in 2027 and potentially 100,000 ounces by 2028. Notably, management believes this growth can be funded entirely from operating cash flow, avoiding dilution to existing shareholders.Underpinning this growth strategy is a significant $10 million investment in brownfield exploration, split equally between the Palito and Coringa operations. This program aims to expand the current resource base from 1 million ounces to at least 1.5 million ounces, and potentially up to 2 million ounces. Recent drilling at São Domingos has already yielded promising results, with early estimates suggesting a resource of around 100,000 ounces at impressive grades of 10-12 grams per ton.Serabi is implementing an innovative hub-and-spoke model, where satellite operations employ crushing and ore-sorting technology to produce high-grade pre-concentrates that are then transported to the central Palito processing facility. This approach maximizes processing efficiency and enables increased production without major plant expansions.With substantial free cash flow generation expected to continue throughout 2025, management is actively considering mechanisms for shareholder returns, including dividends and share buybacks. As Hodgson stated, "We know we can't sit on this amount of cash. That's the bottom line."For investors seeking exposure to gold with strong growth prospects and potential shareholder returns, Serabi Gold presents a compelling opportunity. The combination of increasing production, expanding resources, innovative processing technology, and robust cash generation creates a foundation for both capital appreciation and potential income in a favorable gold price environment.—Learn more: https://cruxinvestor.com/companies/serabi-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Frederick Bell, CEO, Elemental Altus Royalties CorpOur previous interview: https://www.cruxinvestor.com/posts/elemental-altus-royalties-tsxvele-consolidating-cash-flowing-gold-royalty-portfolio-6093Recording date: 9th of April, 2025Elemental Altus Royalties Corp is positioning itself for a transformative 2025, projecting to nearly double its revenue amid favorable gold prices and strategic acquisitions. The company anticipates revenue to reach approximately $45 million in 2025, up from $21.6 million in 2024, representing a 100% increase.CEO Frederick Bell recently outlined the company's evolution from a private million-dollar entity to a fast-growing gold and copper royalty company with a market capitalization over $200 million. Two major factors driving this growth are the consolidation of the AlphaStream portfolio, expected to contribute an additional $7-8 million in revenue, and the startup of the Karlawinda royalty with Allied Gold."This year Q1 is going to be a record, Q2 is going to be a record by a large margin," Bell stated, noting that unlike previous years, much of the revenue growth is weighted toward the first half of 2025.The company has strengthened its board with three significant additions: Prashant Francis from AlphaStream (a 14% shareholder), Matthieu Bos of Falcon Energy Materials, and Sandeep Singh, former CEO of Osisko Gold Royalties. These appointments enhance the company's North American market presence and deepen its royalty sector expertise.Financially, Elemental Altus has paid down all $30 million of its previously drawn debt, leaving it with an undrawn credit facility and the strongest balance sheet in its history. With a fixed cost structure of approximately $10 million (including $6 million in G&A and $4-4.5 million in taxes), the growing revenue directly improves margins.Bell believes the company presents compelling value, trading at approximately 6.5 times projected 2025 revenue compared to junior peers at 10x, mid-tiers at 15x, and majors at 20x. The company offers diversified exposure to 10 producing assets and 60-70 exploration/development royalties covering 13,500+ square kilometers.The royalty model provides unique advantages in the current inflationary environment, as royalties come off top-line revenue. "For the royalty company, you have more downside protection... you don't have the inflation side of it and you have all the exposure to the upside," Bell explained.With $15-20 million in cash expected to build on the balance sheet, management is evaluating various capital allocation strategies, including potential acquisitions (ranging from $1 million to $50-60 million), share buybacks through its newly established normal course issuer bid, and potentially introducing a dividend.Learn more: https://www.cruxinvestor.com/companies/elemental-altus-royaltiesSign up for Crux Investor: https://cruxinvestor.com

Interview with Justin Black, CMO, and Jean-Paul Tsotsos, Interim CEO of Chesapeake Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/chesapeake-gold-tsxvckg-innovative-technology-new-gold-ounces-5163Recording date: 7th April 2025Chesapeake Gold has developed a groundbreaking oxidation technology that could revolutionize how refractory gold deposits are mined globally. The company's Metates deposit in Mexico, containing 17 million ounces of gold and 423 million ounces of silver, was previously considered too challenging to develop economically due to its refractory nature, where gold is trapped in sulfide minerals.The proprietary technology transforms sulfide ore into oxide ore through an accelerated oxidation process, making previously unrecoverable gold accessible through conventional heap leaching. This innovation essentially compresses what would naturally take "100 million years" into just months, by applying special reagents that strip sulfur from pyrite crystals and replace it with oxygen.The economic impact is dramatic. Previous development plans for Metates required pressure oxidation autoclave technology with a capital expenditure of approximately $3.5 billion for a 90,000 ton per day operation, yielding a sub-10% internal rate of return (IRR). With the new technology, Chesapeake can start with a 15,000 ton per day operation at a capital cost of just $360 million, achieving a 35% IRR and all-in sustaining costs of approximately $750 per ounce.Justin Black, Chesapeake's Chief Metallurgical Officer who previously worked with the technology at Hycroft Mining, demonstrated its effectiveness on a commercial scale with a 150,000-ton test pad. Material that initially had only 20% recoverable gold achieved 80-90% recovery after treatment. For Metates specifically, tests showed that material oxidized for 204 days reached nearly 75% gold recovery compared to just 33% for untreated ore.Beyond economics, the technology offers significant environmental advantages over traditional methods for processing refractory ores, including lower water consumption, reduced energy usage, and lower greenhouse gas emissions.According to CEO Jean Paul Tsotsos, this technology could unlock a market worth approximately $1.5 trillion in currently inaccessible gold resources. McKinsey estimates approximately 580 million ounces of gold globally are considered refractory, with these deposits typically offering higher grades (averaging 2.25 g/t versus 1.21 g/t for non-refractory deposits).The company has identified over 200 deposits globally where the technology could apply and is advancing on multiple fronts, including continuing test work, analyzing samples from other companies, and planning to establish a pilot plant to further demonstrate the technology's effectiveness.View Chesapeake Gold's company profile: https://www.cruxinvestor.com/companies/chesapeake-goldSign up for Crux Investor: https://cruxinvestor.com

Recording date: 9th April 2025Compass, episode 10. Recent tariff announcements have sent shockwaves through global markets, creating what market experts describe as a "race to liquidity." While this volatility has dragged down most asset classes, gold has demonstrated remarkable resilience, maintaining values above $3,000 per ounce and reinforcing its status as a premier safe haven during uncertain times.This market turbulence presents both challenges and opportunities for strategic investors. The immediate aftermath of the tariff news triggered widespread selling pressure as institutional funds faced redemption requests, forcing portfolio managers to liquidate positions regardless of conviction. This pattern of forced selling creates a self-reinforcing cycle but ultimately leads to pricing dislocations that astute investors can exploit.What makes the current situation particularly compelling for gold investors is the disconnect between stock prices and business fundamentals in the gold mining sector. As Derek Macpherson astutely observes, "The two days that gold spent below 3000 didn't make Agnico Eagle less profitable as part of that process." This fundamental reality creates an attractive entry point for high-quality gold producers whose share prices have declined despite their underlying businesses remaining highly profitable.Historical patterns suggest gold typically leads market recoveries following liquidity-driven selloffs. In previous cycles, including March 2020, gold and subsequently gold equities rallied first and most aggressively as investor sentiment stabilized. This rotation pattern provides a potential roadmap for portfolio positioning during the current volatility.Beyond tactical considerations, strategic investors should recognize that short-term market disruptions don't fundamentally alter long-term commodity trends. The tariff situation, while creating immediate volatility, doesn't eliminate structural supply deficits in metals like copper or change the long-term monetary dynamics supporting gold. Maintaining this perspective allows investors to distinguish between market noise and fundamental value.The potential resolution to current market tensions will likely come from either Federal Reserve policy shifts or some form of trade agreement with China. Until either materializes, volatility will likely persist, creating ongoing opportunities for discerning investors to establish or increase positions in quality companies at attractive valuations.When evaluating investment opportunities during this volatile period, balance sheet strength becomes particularly crucial. Companies requiring near-term financing may face significant challenges if market turbulence persists. Focusing on well-funded operations provides an additional margin of safety during uncertain periods.Perhaps most importantly, investors should remain cautious about attempting to perfectly time market bottoms. As Sam Pelaez warns, "Once the rebound happens, things tend to rebound aggressively and they won't really give you enough time to get back into them." This reality argues for maintaining market exposure to quality companies rather than moving entirely to cash in hopes of perfect re-entry timing.For investors seeking both protection and opportunity in the current environment, gold's combination of defensive characteristics and ongoing monetary tailwinds makes it uniquely positioned to weather continued volatility while maintaining significant upside potential should geopolitical and economic uncertainties persist.—Learn more: https://cruxinvestor.com/categories/commodities/goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Kevin Das, Senior Technical Consultant of Frontier Minerals Ltd.Recording date: 8th April 2025New Frontier Minerals, dual-listed on the London and Australian Stock Exchanges, is strategically positioning itself in Australia's critical minerals sector with a focused approach to exploration and development. The company is advancing two key projects: the Harts Range project near Alice Springs and a copper development in Northwest Queensland.The Harts Range project has generated significant interest following recent airborne geophysical surveys that identified 46 potential targets, exceeding management expectations. The company's exploration focus centers on high-value heavy rare earth elements, particularly dysprosium and terbium, which are primarily sourced from China and are essential for defense applications and electric vehicles."What we have at Harts Range which makes it different to all the other rare earth projects is we have their high value heavy rare earths," explains Kevin Das, Senior Technical Consultant for New Frontier Minerals. "These high value heavy rare earths can only be found really in China and there's probably another handful of companies around the world that have these valuable and highly critical minerals."The company has identified two promising prospects at Harts Range, named "Bobs" and "Cusp," where surface sampling has yielded consistently high grades. An interesting feature of the mineralization is that rare earths, uranium, and niobium occur together, creating efficiency in exploration.Simultaneously, New Frontier is advancing its copper project in Northwest Queensland's Mount Isa region. The project includes the "Big One" deposit, containing approximately 2.2 million tons of copper at 1.1% grade. In January, the company signed an MOU with Austral Resources to potentially process ore at their nearby Mount Kelly facility, creating a pathway to production without substantial capital investment."That gives us a real clear pathway to production because we don't have to go to markets to raise $100 million to build a processing facility," Das notes.To fund its exploration activities, New Frontier has divested three non-core assets over the past six months, generating sufficient working capital for planned activities. This approach demonstrates capital discipline and allows the company to focus on its most promising assets without immediate dilution to shareholders.Near-term plans include validating targets at Harts Range, conducting trial processing of copper stockpiles, and drilling at Harts Range later this year. The company's presence in a region attracting major mining companies like Glencore, Anglo America, Rio Tinto, and FMG also creates potential for future M&A activity.Sign up for Crux Investor: https://cruxinvestor.com

Interview with President & CEO, Paul Huet & Eric SprottOur previous interview: https://www.cruxinvestor.com/posts/americas-gold-silver-the-turnaround-team-6588Recording date: 3rd April, 2025Americas Gold & Silver is positioning itself as a compelling turnaround opportunity in the silver mining sector under new leadership. The company operates two primary assets - the Galena mine in Idaho's historic Silver Valley and the Cosala mine in Mexico - with a renewed focus on operational improvements and efficiency.Led by CEO Paul Huet, who brings successful experience from previous turnarounds at Klondex and Karora Resources, the company is implementing a straightforward "mining 101" strategy. This approach focuses on strengthening management, updating equipment, introducing more efficient long-hole mining methods, installing a paste plant, improving shaft capacity, maximizing mill utilization, and recovering valuable byproduct metals.The company faces significant operational inefficiencies that present clear improvement opportunities. At Galena, current mining methods yield only 80-100 tons per blast compared to neighbors' 10,000-ton stopes, while mill utilization is limited to just three days per week. Management has already increased shaft hoisting rates from 42 to 60 tons per hour and targets 110 tons per hour by year-end.A major untapped opportunity involves recovering copper, antimony, and gold currently present in concentrate but not being monetized. By capturing these metals, the company believes it can potentially reduce silver production costs to below $10 per ounce.Financially, Americas Gold & Silver recently raised $50 million and has eliminated approximately $43 million in liabilities. The company is seeking debt financing to fund 24 months of operational improvements without equity dilution. Capital allocation priorities include exploration ($3-5 million per asset), waste development, equipment upgrades ($7 million), a paste plant ($8 million), and shaft improvements ($7 million).Eric Sprott, who owns 20% of the company, maintains a bullish outlook on silver prices. He cites a persistent 200 million ounce annual supply deficit and growing industrial demand. Sprott believes silver could reach $50-200 per ounce from its current $30 level, noting the current gold-to-silver ratio of 90:1 is far from the historical 15:1 ratio or natural mining ratio of 8:1.Despite doubling since September, management considers the stock significantly undervalued at 0.4-0.5 times NAV compared to peer silver producers at 1-1.5 times NAV. With institutional ownership increasing from 8% to 60% in just 75 days and management holding significant positions, Americas Gold & Silver offers investors leverage to rising silver prices while operational improvements potentially drive substantial value creation.Learn more: https://www.cruxinvestor.com/companies/americas-gold-silver-corporationSign up for Crux Investor: https://cruxinvestor.com

Nick Matthew is an investor with Standard Crypto. In this episode, Matthew joins The Scoop to discuss the current state of the crypto market, noting that investment opportunities still exist despite macro downturns. Matthew also contrasts the rise of stablecoins with memecoins, and the potential for crypto to consolidate and shift its evolution towards building 'Fintech 2.0' rather than web3. OUTLINE 00:00 – Introduction 01:12 – Sponsor break 03:04 – Coping with market downturnsl 03:25 – The Fundraising Freeze 05:02 – Macro in the driver seat 09:36 – Memecoin extinction or ressurection 15:59 – Who's making money in crypto 17:45 – Fintech 2.0 or Web3 22:04 – Investing in stablecoins 25:26 – Investing in teams 28:30 – The next billion users 31:40 – Looking ahead and conclusion GUEST LINKS Nick Matthew on X: https://x.com/nickjmatt Standard Crypto on X: https://x.com/standardcrypto Are you hiring in crypto? Use Campus to quickly find your best candidates with our challenging Crypto Assessment Test. Faster hiring, stronger teams. Sign up for a trial today: theblock.co/campus This episode is brought to your by our sponsors: Fidelity Explore Fidelity crypto careers today. Go to crypto.FidelityCareers.com to learn more. Uranium.io Investing in uranium is now widely accessible. Visit uranium.io to learn more.

Interview with Alan Carter, President & CEO of Cabral Gold Inc.Our previous interview: https://www.cruxinvestor.com/posts/cabral-gold-tsxvcbr-pfs-reveals-low-capex-starter-gold-mine-with-47-irr-6439Recording date: 7th April 2025Cabral Gold (TSX-V: CBR) is rapidly advancing its district-scale Cuiú Cuiú gold project in northern Brazil, with recent high-grade drill results significantly enhancing the project's potential. The company's latest discovery at Machichie Northeast delivered an exceptional intercept of 12 meters at 27.7 g/t gold, following previous results including 11 meters at 33 g/t gold. These represent "two of the best holes we've ever drilled on the project," according to President and CEO Alan Carter, indicating substantial resource growth potential beyond the current 1.3 million ounce estimate.The company is pursuing a strategic two-phase development approach that addresses the capital constraints typically facing junior miners. The initial phase targets shallow, oxidized material amenable to heap leach processing, minimizing capital expenditure while establishing cash flow to fund further exploration of the property's district-scale potential. This approach allows Cabral to "get off this hamster wheel" of dilutive financing, as Carter describes it, and "be in control of our own destiny" through self-generated revenue.Economics for the project appear compelling, particularly in the current gold price environment. The Preliminary Feasibility Study (PFS) completed in October 2024 projected a 47% post-tax rate of return based on a conservative gold price of $2,250 per ounce. With gold currently trading above $3,000 per ounce, the potential returns could be substantially higher. All-in sustaining costs of approximately $1,000 per ounce suggest potential operating margins exceeding $2,000 per ounce at current prices.An updated PFS expected in May 2024 will incorporate the Machichie Main deposit, potentially enhancing the already robust economics. While the recently discovered high-grade Machichie Northeast zone won't be included due to insufficient drilling density, its proximity to planned mining areas (approximately 650 meters from the initial MG deposit) makes it a compelling target for rapid development. The high-grade material may require a supplementary gravity plant alongside the planned heap leach facility, with metallurgical work currently underway.The exploration upside at Cuiú Cuiú is particularly noteworthy, with over 50 gold targets identified across the property. Carter highlights the project's scale by comparing it to G-Mining's neighboring operation, noting that "Cuiú Cuiú has a much bigger footprint... it's sort of seven to ten times larger" based on soil anomalies and historic production. Some targets include boulder fields with material "averaging sort of 75 grams, 90 grams a ton. Gold, not silver."Financing discussions for the initial production phase are advancing, with interest from "all sorts of different parties" including traditional lenders, streaming companies, end users, and strategic investors. The company aims to secure financing by July 2024, with construction potentially beginning in the third quarter. With a 12-month build time and simplified processing approach requiring "no drilling and blasting, and no crushing and grinding," Cabral could be positioned for production by late 2025.—View Cabral Gold's company profile: https://www.cruxinvestor.com/companies/cabral-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Allen Sabet, CEO of Mogotes Metals Inc.Recording date: 1st April 2025Mogotes Metals Inc. is positioning itself as a significant player in copper-gold exploration, with strategic holdings directly adjacent to Filo Mining's Filo del Sol discovery in Argentina's prolific Vicuña District. The Filo del Sol property was recently acquired by BHP-Lundin for C$4.5 billion, highlighting the district's exceptional mineral potential.Led by CEO Allen Sabet, Mogotes has taken a methodical approach to exploration, focusing on comprehensive data collection before drilling. "To mitigate the risk of drilling into nothing, we take a step back and do a full property-wide systematic program," explains Sabet. This approach has allowed the company to identify multiple exploration targets across its Filo Sur Project.The company has invested over $10 million in exploration work, utilizing advanced techniques including MT geophysics, IP surveys, and high-resolution satellite imagery for alteration mapping. These methods have revealed compelling targets with geological signatures similar to neighboring discoveries.Key exploration targets include Meseta, located on the Mogotes-Filo property boundary with rock chip samples showing up to 1.48 g/t gold; Camino, featuring phyllic alteration with copper, molybdenum and arsenic in surface soils; Rincon, a newly identified trend with promising trench results; Cruz del Sur, with magnetic chargeable targets close to surface; and Colorida Zone, showing large conductive anomalies.Mogotes recently optioned additional claims that secure the projection of the Filo del Sol trend, strengthening its strategic position. "We've locked up strategically over the last two years any open ground that was there and now we've closed that with our most recent transaction," Sabet notes.The company plans to begin its first comprehensive drilling program in October 2025, with current work focused on further defining targets through trenching and additional geophysical surveys.With a market capitalization of approximately C$33 million and C$8 million in cash as of February 2025, Mogotes represents a leveraged opportunity for copper exposure. Management and insiders hold 18% of the company's 247.5 million outstanding shares, with institutional investors holding 36%.As global copper demand is projected to double by 2035 while mine supply faces constraints, the Vicuña District offers rare potential for multiple world-class discoveries. Mogotes provides investors access to this promising trend at a fraction of the valuation of its neighbors.View Mogotes Metals' company profile: https://www.cruxinvestor.com/companies/mogotes-metalsSign up for Crux Investor: https://cruxinvestor.com

MacroVoices Erik Townsend & Patrick Ceresna welcome, Mike Alkin. They'll begin by exploring how it's even possible that investor sentiment remains so negative, despite what has arguably been the most bullish year ever for nuclear energy news. From there, they'll dive into a range of topics currently shaping the uranium market. https://bit.ly/42fV8fs 

Private resource investor Sultan Ameerali reveals where he is uncovering ignored value opportunities in the resource sector. He looks for “free upside”, while protecting his downside. And Sultan has identified a mining special situation in which his cost basis is negative, yet his upside is uncapped…truly a rare find. He explains how he discovered and capitalized on this opportunity. In this 1-hour MSE episode, Sultan discusses a range of issues, reveals multiple stock picks and explains his thorough due diligence process to resource stocks. 0:00 Introduction 1:10 Gold focus now 5:05 Shorting mining stocks 8:32 Portfolio allocation 11:28 Finding ignored value 14:13 Carbon credits 16:16 Uncovering asymmetry 18:18 Turnaround track record 20:02 Minera Alamos 25:37 Uranium play 29:45 Silver 33:43 Stock pick 47:02 Balancing skepticism & positivity 52:25 Mining special situation play 1:00:03 Stock pick 1:03:50 Kenorland Minerals Sultan's Twitter: https://twitter.com/SultanAmeerali Sultan's Website: https://www.consolidatedrock.com/ Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 Mining Stock Education offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

Interview with Charlie Regan, Director & CEO of NerdsOnSiteRecording date: 28th March 2025Nerds On Site (NOS) is a publicly traded Canadian technology services company with a U.S. subsidiary that provides comprehensive tech and cybersecurity services to small and medium enterprises (SMEs). Led by Charlie Regan as CEO, the company currently generates approximately CAD $11-12 million in annual revenue.Operating with a lean structure of only 7-8 employees, NOS leverages a network of 150 independent contractors who deliver services to approximately 13,000 clients annually across over 117 industry verticals. The company's client base is divided into three main segments: small office/home office (20% of revenue), SMEs (50%), and enterprise clients (20%), including Canadian Tire with 550 locations and a Florida-based bank chain.NOS's primary offering is a cybersecurity solution with a preventative approach that distinguishes it from competitors. According to Regan, "We fortify the house so that nobody can get in," rather than removing threats after breaches occur. This solution has been deployed for 13 years across millions of devices without a single successful ransomware attack, and is sold with a 60% markup margin.The company recently launched NOS Technical Services, a U.S.-based division targeting state governments and pharmaceutical companies with specialized technical talent placement. Regan expects this division to match the revenue of their core business within 2.5 years, projecting $4-5 million in revenue by the end of 2025.NOS's sales approach includes real-time demonstrations of security vulnerabilities, showing clients data being transmitted to countries like North Korea and Russia. The company also recently launched "Nerds Online," a 24/7 support service priced at CAD $39.99 per month, targeting both existing clients and prospects who couldn't afford their higher-priced offerings.Currently, NOS reports 7.5% revenue growth over the previous year and aims for 10% growth this year. Management is targeting a gross profit margin of 32.5% (currently about 3 points away) to become "comfortably profitable" by the end of 2025.The company's growth strategy includes pursuing acquisitions of managed service providers (MSPs) in the U.S. whose owners are approaching retirement age. NOS plans to upgrade these clients to a higher-level managed security service provider model by implementing their cybersecurity offerings, with at least one acquisition planned before the end of 2025.As cybersecurity concerns grow and organizations shift toward specialized technical contracting, NOS appears positioned to capitalize on these market trends with its preventative security approach and flexible service model.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Hugh Agro, President & CEO, and John Meyer, VP Engineering & Development of Revival Gold Inc.Our previous interview: https://www.cruxinvestor.com/posts/revival-gold-tsxvrvg-positioned-for-a-rising-gold-market-in-2025-6478Recording date: 31st March 2025Revival Gold recently released results from the Preliminary Economic Assessment (PEA) for its Mercur gold project, showcasing strong economic potential with projected annual gold production of 95,000 to 105,000 ounces over a 10-year mine life. At a gold price of $2,175 per ounce, the project demonstrates a Net Asset Value (NAV) of $294 million and a 27% Internal Rate of Return (IRR) after tax. These figures improve dramatically at current gold prices of $3,000 per ounce, with NAV increasing to $752 million and IRR to 57%.The project features modest upfront capital costs of $208 million and competitive operating costs with Cash Costs of $1,205 per ounce and All-in Sustaining Costs of $1,363 per ounce. The resource base consists of approximately 1.4 million ounces of gold, with over 50% in the indicated category, an average grade of 0.6 grams per ton, and metallurgical recovery rates averaging 75%.A significant advantage of the Mercur project is its location on private patented claims just an hour from Salt Lake City, Utah. This allows for permitting through a state process rather than federal, potentially streamlining the timeline to approximately two years. The strategic location provides ready access to equipment, services, and skilled labor without requiring a camp or remote-site logistics.The company has outlined a two-phase development approach, with the first phase involving drilling to convert inferred resources to measured and indicated categories, along with collecting metallurgical samples. The second phase will focus on completing a Pre-Feasibility Study and advancing permitting. The combined budget for these phases is approximately $8 million, with potential construction beginning within 2-2.5 years.Technical risks are mitigated by the project's brownfield status, as the site has been previously mined. Environmental factors appear favorable with no perennial streams, deep groundwater, and no threatened or endangered species identified. The heap leach processing method eliminates the need for tailings facilities, reducing environmental footprint.Revival Gold's overall portfolio now includes both the Mercur project and the Beartrack-Arnett project, representing a combined resource of approximately 6 million ounces of gold. With a current market capitalization of approximately $50 million, the company is trading at just 0.1x NAV and $8 per ounce of gold resource, suggesting significant potential for value appreciation as the projects advance.View Revival Gold's company profile: https://www.cruxinvestor.com/companies/revival-gold-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Paul Atherley, Chairman of Pensana PLCOur previous interview: https://www.cruxinvestor.com/posts/pensana-pre-confident-funding-is-imminent-2582Recording date: 28th March 2025Pensana PLC, chaired by Paul Atherley, has secured financing to begin construction on one of the world's largest undeveloped rare earth projects in Angola. The project will process 20,000 tons initially, eventually scaling to 40,000 tons, placing it in the same league as industry leaders Lynas and MP Materials.The financing package comes from three key institutions: Angola's sovereign wealth fund (FSDA), Absa Bank from South Africa, and the African Finance Corporation. The structure consists of approximately 60% debt and 40% equity spread across these institutions. The equity component is expected to be drawn down within weeks, while the debt documentation will take 6-9 months to finalize.What distinguishes Pensana's approach is its focus on creating a non-Chinese rare earth supply chain. Rather than simply mining and exporting raw materials to China, the company plans to produce a mixed rare earth carbonate (MRE), a midstream product that can be processed further outside China. The company is in discussions with potential partners who have separation capacity outside China, which Atherley describes as "a very important step" in creating an independent global supply chain.The Longonjo project contains over 100,000 tons of valuable neodymium and praseodymium in its top 30 meters, with an exceptionally low strip ratio of 0.2:1, indicating efficient mining potential. Technical validation has been completed through extensive testing at laboratories in Western Australia, confirming the quality of their product.Construction is now beginning, with first production targeted for the end of 2026, followed by a six-month ramp-up period to reach full production in 2027. The financing will dilute Pensana's ownership from 84% to 70% initially, with potential further dilution to 52% if certain mezzanine financing is not refinanced.Atherley sees significant growth potential as the company is "building a project at the bottom of the rare earth price cycle," contrasting their current $100 million market cap with Lynas at $4 billion. He highlights future demand drivers including electric vehicles, wind turbines, and emerging technologies like humanoid robotics.As Atherley notes, "It's an electric future based on electromagnetics and we will be a producer going into that rising thematic."View Pensana's company profile: https://www.cruxinvestor.com/companies/pensana-plcSign up for Crux Investor: https://cruxinvestor.com

Interview with Adam Kiley, CEO of Frontier Energy Ltd.Our previous interview: https://www.cruxinvestor.com/posts/frontier-energy-asxfhe-grid-connected-developer-eyes-major-role-in-was-82-renewable-push-6479Recording date: 31st March 2025Frontier Energy is advancing its Waroona Renewable Energy Project in Western Australia after being selected as one of four successful applicants for the federal government's $67 billion Capacity Investment Scheme (CIS). The scheme provides a crucial 15-year revenue floor guarantee, underwritten by the federal government, which helps secure debt financing by ensuring minimum revenue levels even during market downturns.CEO Adam Kiley explained the significance: "What CIS does overall for projects such as ours is essentially an underwriting by the federal government for a contract of up to 15 years which provides a revenue floor for the project moving forward." The arrangement also includes a profit-sharing mechanism where Frontier would share 50% of profits with the government if energy prices exceed a certain ceiling.The company is currently selecting a strategic partner from shortlisted candidates to help cover the equity gap and secure favorable debt terms. Kiley emphasized this would be "a partnership on the way through," not a takeover by a larger entity.The initial Stage 1 project consists of a 120-megawatt solar facility combined with an 80-megawatt/4.75-hour battery storage system, expected to begin production in late 2027. This hybrid approach maximizes revenue by fully charging the battery daily and discharging during peak demand periods when prices are highest.Frontier has substantial expansion potential on its 820-hectare land holding, with Stage 1 utilizing only about 300 hectares. Environmental spring surveys have been completed for the additional land, with Stage 2 potentially doubling the project size.The project's timing aligns strategically with Western Australia's energy transition, as coal (currently 30% of the grid) is scheduled to be phased out by 2029. This creates an energy supply gap that Frontier is positioned to help fill. Additionally, grid limitations restrict how quickly new renewable energy projects can be developed, giving Frontier an advantage with their already approved connection points.Frontier recently appointed Guy Chalkley as Chairman, bringing valuable energy sector experience from his roles as former CEO of Western Power and current CEO of Endeavor Energy.The company sees 2025 as pivotal, with securing the strategic partnership representing "the big rerating event for this company," transforming it from a speculative renewable developer to a funded project with a clear path to revenue.View Frontier Energy's company profile: https://www.cruxinvestor.com/companies/frontier-energySign up for Crux Investor: https://cruxinvestor.com

Interview with Gavin Ferrar, CEO of Central Asia Metals PLCOur previous interview: https://www.cruxinvestor.com/posts/central-asia-metals-lsecaml-plugging-into-profits-and-growth-in-the-base-metals-sector-6334Recording date: 1st April 2025Central Asia Metals PLC (CAML), an AIM-listed base metals producer with operations in Kazakhstan and North Macedonia, has reported strong financial results for 2024. The company generated $214 million in revenue and nearly $102 million in EBITDA, achieving an impressive 47% EBITDA margin that CEO Gavin Ferrar described as "super respectable" for a mining company.CAML ended the year with approximately $68 million in cash after generating just under $66 million in free cash flow. This strong financial position enabled the company to pay a generous full-year dividend of 18 pence per share, representing about 63% of free cash flow—significantly exceeding their stated policy of 30-50%. Ferrar explained this generous distribution as compensation to shareholders for the lack of completed M&A transactions.Despite actively pursuing acquisition opportunities (with 13 NDAs and 6 site visits last year), CAML remains selective in its M&A strategy, focusing on base metals assets that would generate at least $50 million in EBITDA. The company's strong balance sheet provides flexibility for future acquisitions without necessarily requiring shareholder dilution.Operationally, CAML has made significant progress at the Sasa mine in North Macedonia, where its paste backfill plant successfully operated for the full year in 2024, placing 240,000 tons of tailings back underground—approximately one-third of the total produced. The company is also completing a dry stack tailings plant, which will handle another 30-40% of tailings, eliminating the need for additional wet tailings facilities.In Kazakhstan, the Kounrad operation continues to outperform expectations. The Eastern dumps, which according to the original 2012 plan should have ceased production years ago, contributed approximately 27% of the company's copper last year. With production costs of 80 cents per pound against a copper price around $5, the operation maintains impressive margins.CAML has developed significant expertise in its operating regions, with Ferrar strongly defending Kazakhstan as an investment-grade country with increasing Western capital inflows. The company's established presence provides strategic advantages in navigating permitting processes and accessing regional opportunities.Beyond operational efficiency, CAML maintains a strong commitment to ESG initiatives, particularly in community engagement. The company operates its own foundation in Kazakhstan, making targeted investments including a center for disabled children, a facility for victims of domestic violence, and a recently refurbished youth center.As CAML continues to seek transformative M&A opportunities, it remains focused on maximizing returns from existing assets, controlling costs, and maintaining operational efficiency to remain profitable throughout market cycles.View Central Asia Metals' company profile: https://www.cruxinvestor.com/companies/central-asia-metalsSign up for Crux Investor: https://cruxinvestor.com

Our previous interview: https://www.cruxinvestor.com/posts/record-metal-prices-creating-mining-acquisition-wave-6893Recording date: 31st March 2025Resource nationalism and political risk have emerged as critical considerations for mining investors, particularly as jurisdictional differences in permitting timelines create significant competitive advantages. According to industry executives Samuel Pelaez and Derek Macpherson of Olive Resource Capital, these factors are reshaping investment strategies in the gold-copper sector.Western Australia stands out as a premier mining jurisdiction globally, with permitting processes taking just 1-2 years compared to the 5-10 years historically required in the United States. This efficiency creates substantial economic advantages for projects in favorable regions.Recent developments in the U.S. mining sector could transform this dynamic. President Trump's Mineral Production Order aims to expedite mining permits, potentially triggering what experts describe as a "renaissance in U.S. mining" over the next 3-4 years. Companies including Mako Mining, Minera Alamos, and Trilogy Metals are already positioning themselves to capitalize on this regulatory shift.While rule of law is considered a binary factor in investment decisions, executives emphasize it can change unexpectedly. Mali, Panama, and Bolivia demonstrate how previously favorable jurisdictions can quickly become challenging. As Macpherson notes, "We want things to stay the same," highlighting investors' fundamental desire for stability.Beyond the U.S., several jurisdictions are gaining favor. Guyana's recent oil discoveries have funded infrastructure improvements while creating demand for job-producing mining projects. Brazil continues demonstrating reasonable permitting timeframes, while Morocco has emerged as a surprising new mining destination.The discussion emphasizes that resource nationalism impacts strategic metals like copper and rare earths even more significantly than gold, creating opportunities for projects in western jurisdictions as nations seek to secure domestic supply chains.For investors, the implications include prioritizing projects in stable jurisdictions with efficient permitting, considering the timing advantage for U.S. projects under the current administration, evaluating management teams for jurisdiction-specific experience, and distinguishing between risks to developers versus producers.Sign up for Crux Investor: https://cruxinvestor.com

Chris Temple, Editor and Publisher of the National Investor, joins us to delve into the renewed interest in base metals, gold, uranium, and other critical minerals and the implications and potential benefits to the US as a mining jurisdiction on the back of the new executive order from Trump issued on March 20th titled “Immediate Measures to Increase American Mineral Production.”   This executive order will utilize the Defense Production Act (DPA) to focus on sourcing more domestically mined, processed, or refined critical minerals and strategic mineral as a matter of national security.  There appears to be a joint effort between the U.S. International Development Finance Corporation and the Department of Defense to provide investment support, loans, and possibly grant for mining projects.  There is also an expedited priority on reviewing the permitting on projects seeking development from usual base metals like nickel aluminum and copper, but also includes rare earths, gold, and uranium.   Chris outlines what impact these initiatives may have on permitting timelines and regulations around developing new mines, as well as how this could affect opening up more funds, loans, and grants to bring in the necessary capital for moving these projects forward.  However, while there are many positives, Chris points to how many hurtles are still in place at various levels of government and from legal actions from NGOs; in addition to how much more real work is needed to earnestly impact the extractive industries in the United States.  We also layer on how this executive order squares with other policy initiatives like tariffs on many metals and countries, and a reduction in government workers and cost cutting measures.   This leads into a nuanced discussion of the spotlight and investor interest back on many of the large advanced projects that have been stalled for decades like Northern Dynasty's Pebble, Trilogy's Rambler road access to the Upper Kobuk mineral project, Rio Tinto's Resolution Mine in Arizona, and the Teck-Glencore JV at NorthMet in Minnesota.  Chris reminds listeners that with all those projects, if they do ever get approved, they would still be many years from producing more of these critical minerals.    He also highlights examples of how the government and manufacturers have a poor track record of acting in on these kinds of initiatives in a timely manner. Chris points to the disconnect in the long permitting process where the Bureau of Land Management (BLM) finally approved Lithium Americas Thacker Pass Lithium Project, and then automotive giant General Motors announced it would invest $650M in the mine project, giving GM exclusive access to the first phase of production.  When everything did finally start lining up for project development, the lithium prices which had been high for years reversed course and cratered in price, with an oversupply of lithium flooding the market and expectations being lowered for EV adoption rates and future demand.   We wrap up with Chris sharing why his top 3 commodities areas for this year are still gold, uranium, and traditional energy with oil and gas companies.   He is encouraged by the record all-time high prices in gold during the first quarter of 2025, but feels the biggest opportunity for resource investors at present is in the deeply discounted uranium equities, which he stated “are a gift at these levels.”   Click here to follow along with Chris at the National Investor website.

CEO of Pegasus Resources (OTC: SLTFF | TSX-V: PEGA) is acutely aware of the rock bottom sentiment prevailing today in uranium markets, but in his view, the fundamentals for the sector have never been better and with the Trump administration declaring an energy emergency and looking to scale up nuclear capacity and uranium mining in the country, the future looks bright. Chris explains how Pegasus Resources fits into the picture, with their drill-ready Jupiter and Energy Sands projects in Utah.Pegasus Resources Website: https://www.pegasusresourcesinc.comFollow Pegasus Resources on X: https://x.com/pegasusresincDisclaimer: Commodity Culture was compensated by Pegasus Resources for producing this interview. Jesse Day is not a shareholder of Pegasus Resources. Nothing contained in this video is to be construed as investment advice, do your own due diligence.Follow Jesse Day on X: https://x.com/jessebdayCommodity Culture on Youtube: https://youtube.com/c/CommodityCulture

Coldwater Creek lies at the heart of one of the worst environmental disasters in U.S. history. It's also where Jim Gaffney played as a child growing up in north St. Louis County. “We thought we'd stay there the rest of our lives. We had no idea we were swimming in uranium waste,” said Gaffney, who has battled multiple cancer diagnoses throughout his life. Gaffney and other former residents of Coldwater Creek spoke with journalist Mike Fitzgerald, who joined “St. Louis on the Air” to discuss his recent reporting. Along with Fitzgerald, Dawn Chapman, co-founder of the group Just Moms STL, shared her insight and takeaways from the recent visit to the West Lake Landfill by EPA administrator Lee Zeldin.

Interview with Shaun Bunn, Managing Director, Empire MetalsOur previous interview: https://www.cruxinvestor.com/posts/empire-metals-loneee-massive-titanium-exploration-target-with-150-year-supply-potential-5528Recording date: 27th of March 2025Empire Metals has discovered what it claims is the world's largest titanium deposit in Western Australia, with an exploration target of approximately 26-32 billion tons of ore. The company is positioning itself as an emerging player in the global titanium market with this strategic discovery in a tier-one mining jurisdiction.A key advantage of the deposit is its weathered surface cap extending 60-80m deep, representing 4-5 billion tons of easily accessible, friable ore that requires no drilling or blasting. This natural feature significantly reduces potential mining costs as there is no overburden or waste to remove.The company has already achieved early success in metallurgical testing, producing a 92% titanium dioxide product that contains none of the deleterious elements such as uranium, thorium, chromium, or heavy metals that typically plague other titanium sources. This gives Empire's product a significant competitive advantage in the market.Unlike traditional titanium sources that rely on ilmenite processing, Empire's deposit contains titanium dioxide minerals that require approximately half the acid for processing – about one ton of acid per ton of mineral versus two tons for ilmenite. The company aims to produce high-value, pigment-grade titanium dioxide rather than intermediate concentrates.Empire Metals is currently working toward a JORC-compliant mineral resource estimate, focusing initially on a smaller high-grade area of the massive deposit. The company recently completed a drilling program in February 2025 with 84 holes on a 100x100 meter grid, which will be expanded in the coming months.The project benefits from a favorable permitting environment as it's located on private farmland in Western Australia's wheat belt, avoiding native title issues or crown land complications. This location, combined with the strategic importance of titanium for defense and aerospace applications, could enable fast-tracking through the approvals process.With £4.8 million in cash, Empire Metals is well-funded to advance its development plans. The company expects to move toward production relatively quickly by industry standards, with potential revenue generation possibly beginning by 2026.As Managing Director Shaun Bunn summarized: "If you wanted to find the perfect source to go and change and disrupt the industry and be able to produce titanium at a lower cost and a higher quality, this is the ore body that you needed to find."Learn more: https://www.cruxinvestor.com/companies/empire-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with Christian Ervin Easterday, Managing Director & CEO of Hot Chili Ltd.Our previous interview: https://www.cruxinvestor.com/posts/hot-chili-asxhch-2blbs-of-copper-is-achievable-attractive-6668Recording date: 31st March 2025Hot Chili Limited has revealed a dual-track strategy leveraging a potential billion-dollar water business to finance its flagship Costa Fuego copper project in Chile. The company recently released prefeasibility studies for both its Huasco Water project and Costa Fuego copper development.The Huasco Water initiative, a strategic asset developed over 20 months, consists of two stages. Stage one involves seawater supply to Costa Fuego, with an estimated NPV of $120 million and a 19% IRR over a 20-year supply period. The second stage encompasses a scalable desalination business with a potential post-tax NPV of approximately $1 billion, serving the broader Huasco region."This is about moving $150 million of capital from our copper project and putting it into that water project," explained Managing Director and CEO Christian Easterday. The company holds a unique position as one of only two companies in the past 18 years to secure maritime concessions for seawater extraction in Chile's water-scarce Atacama region.The Costa Fuego copper project itself shows promising economics with a $1.2 billion post-tax NPV, 19% IRR, and $1.27 billion initial capital requirement. The project is designed to produce approximately 95,000 tonnes of copper and 50,000 ounces of gold annually over a 20-year mine life, with competitive cash costs of $1.38 per pound.Easterday highlighted the project's competitive positioning: "We've delivered a top quartile production capacity project outside of the hands of a major and the lowest quartile capital intensity of a developer outside the majors."The company's financing strategy includes traditional debt, precious metal streaming, offtake agreements, and strategic asset monetization through the water business. The project economics show a 4.5-year payback period, with projected revenues of $17 billion and free cash flow of $4 billion over 20 years.Hot Chili is actively engaged in discussions with potential strategic partners, benefiting from the scarcity of large-scale copper projects globally. "When there's only five of you, the list gets smaller," noted Easterday, referring to the limited number of comparable projects available for development.This strategy comes amid record copper prices, which recently hit $5.38 per pound, creating a favorable backdrop for advancing the project in a market characterized by a 4.5 million ton deficit and intensifying competition for high-quality copper assets.View Hot Chili's company profile: https://www.cruxinvestor.com/companies/hot-chili-limitedSign up for Crux Investor: https://cruxinvestor.com

Interview with Simon Marcotte, President & CEO of Northern Superior Resources Inc.Recording date: 28th March 2025Northern Superior Resources is positioning itself as a key player in Quebec's Chibougamau gold camp, where the company has been leading consolidation efforts in what CEO Simon Marcotte believes will become "the next big gold camp to emerge" in Canada.The Chibougamau camp currently hosts approximately 12.5 million ounces of gold resources between Northern Superior and IAMGold, with substantial growth potential. What makes this district particularly attractive is the proximity of multiple deposits to each other, creating an opportunity for a hub-and-spoke operation where several deposits could feed a single processing facility.Northern Superior's flagship Philibert project currently hosts about 2 million ounces at 1.1 g/t gold. Marcotte emphasizes that by increasing the cut-off grade slightly, the grade rises to 1.3 g/t while only losing about 10% of the ounces. This gives Philibert significantly higher grade than IAMGold's nearby Nelligan project, potentially positioning it as the ideal "starter pit" for the district.The company is currently conducting a 20,000-meter drilling campaign at Philibert, which has already yielded promising results, including a 26-meter intersection grading 2.6 g/t gold located 200 meters east of the current pit design.Northern Superior sees multiple strategic pathways forward, including possible acquisition by IAMGold, forming a joint venture with IAMGold, attracting another major producer as a partner, or developing a standalone operation. Marcotte believes district-wide consolidation is inevitable, stating it "makes too much sense to wrap all projects together somehow not to do it."In a separate strategic move, Northern Superior recently spun out its Ontario assets into ONGold Resources while maintaining a 62% ownership stake. ONGold's key assets include the TPK project and the Monument Bay project (3 million ounces at 1.2 g/t), the latter now in partnership with Agnico Eagle.Management and key investors collectively own 25% of Northern Superior, creating strong alignment with shareholders. The team includes CEO Simon Marcotte, Chairman Victor Cantore (known for success with MX Exploration), and largest shareholder Michael Gentile.As the gold sector experiences improving market conditions, Northern Superior appears well-positioned to benefit from increasing institutional interest in the junior gold sector and the growing appetite for quality assets in stable mining jurisdictions like Quebec.View Northern Superior Resources' company profile: https://www.cruxinvestor.com/companies/northern-superior-resources-incSign up for Crux Investor: https://cruxinvestor.com

Interview with William Sheriff, Executive Chairman of enCore Energy Corp.Our previous interview: https://www.cruxinvestor.com/posts/wyoming-uranium-companies-at-heart-of-the-us-nuclear-revival-5749Recording date: 28th March 2025enCore Energy stands at a pivotal moment in its corporate journey, emerging as one of only two uranium producers in the United States at a time when domestic production capabilities carry increasing strategic importance. The company has recently undergone significant management changes, with the board deciding to replace CEO Paul Dorenson to refocus priorities from the building phase to production efficiency.Executive Chairman Bill Sheriff characterizes this transition as necessary to instill a greater "sense of urgency" throughout the organization. "We are changing the culture and the culture starts from the top down in any organization," Sheriff explains. "A sense of urgency doesn't mean panic, it means motion. You need to keep things in motion."The company's In-Situ Recovery (ISR) operations in Texas present an unusual technical challenge – the recovery process works exceptionally well, with over 80% of uranium recovered within just four months. This creates what Sheriff describes as a "double-edged sword" – rapid cash flow generation coupled with the need for continuous drilling to maintain production levels. The company's challenge has been keeping drilling activities paced appropriately to offset the steep production decline curves.This production profile differs significantly from typical ISR operations, which generally see recovery spread over 12-15 months. Sheriff compares the situation to natural gas from fracking: "You get several months of joy and then it tails off very quickly. You don't get any less product, you just get it a whole lot sooner."The management reset coincides with enCore implementing several strategic initiatives. The company has eliminated uranium spot market purchases to fulfill contracts – a practice that previously resulted in financial losses when buying at higher prices than contracted sales prices. Sheriff confirms: "Looking forward in 2025, all projections are we will not buy uranium in the spot market to deliver into our contracts this year."Cost optimization efforts are underway, with the company "rationalizing every position and every expenditure." Production costs were approximately $40 per pound according to recent filings, with management confident in their ability to improve this metric. The company has also divested its New Mexico assets to concentrate resources on production-stage projects in Texas and South Dakota, adding approximately $30 million to its balance sheet through asset dispositions.For investors, enCore represents a rare opportunity to gain exposure to actual uranium production in the United States. While the company has faced operational challenges, its focus on efficiency, cost control, and production growth positions it to potentially benefit from improving uranium market fundamentals. As Sheriff notes: "If you're looking at it as a race, we've got a heck of a head start over those that aren't in production or those that aren't even permitted yet."Investors should monitor upcoming quarterly reports for evidence that operational improvements are translating into enhanced financial performance. With many competitors facing significant hurdles to reaching production, enCore's status as an active producer with cash flow provides a meaningful competitive advantage in an increasingly supply-constrained uranium market.—View enCore Energy's company profile: https://www.cruxinvestor.com/companies/encore-energySign up for Crux Investor: https://cruxinvestor.com

  Welcome to the KE Report Weekend Show!    With commodities continuing to run higher, on this weekend's show we focus on where the best...

Arthur Breitman is the Co-Founder of Tezos. In this episode, Breitman joins The Scoop to discuss the launch of uranium.io, a new marketplace for trading uranium powered by blockchain technology that looks to make investing in uranium more accessible to retail investors. The conversation also touched on geopolitical and technological tailwinds that could drive greater demand for nuclear energy. OUTLINE 00:00 Introduction 00:49 Sponsor break 02:41 How uranium markets work today 05:36 The limitations of uranium ETFs and futures 07:10 Tokenization and RWA evolution 15:56 Why start with uranium 18:33 Why uranium is red hot right now 23:30 Lessons from entering the uranium market 28:01 Beyond commodities 31:13 Conclusion GUEST LINKS Arthur Breitman on X: https://x.com/ArthurB Uranium.io on X: https://x.com/uranium_io Are you hiring in crypto? Use Campus to quickly find your best candidates with our challenging Crypto Assessment Test. Faster hiring, stronger teams. Sign up for a trial today: theblock.co/campus This episode is brought to your by our sponsors: Fidelity Explore Fidelity crypto careers today. Go to crypto.FidelityCareers.com to learn more. Uranium.io Investing in uranium is now widely accessible. Visit uranium.io to learn more.

Interview with Troy Boisjoli, CEO of ATHA Energy Corp.Our previous interview: https://www.cruxinvestor.com/posts/long-term-uranium-investors-find-value-in-volatility-6766Recording date: 24th March 2025ATHA Energy Corp. is making substantial progress on its Angilak uranium project in Nunavut, Canada, which shows promising signs of becoming a major uranium resource. CEO Troy Boisjoli, formerly Cameco's chief geologist, recently outlined the company's exploration success and future plans.The Angilak project, acquired just over a year ago, already boasts a historic resource of 43.3 million pounds at 0.69% U308. Last year's 10,000-meter drill program expanded the mineralization zones, with all 25 drill holes successfully intersecting uranium. This work helped establish an exploration target range of 62-98 million pounds.A recently completed structural study has confirmed a 31-kilometer trend across the Angikuni Basin, showing high-grade uranium samples up to 47.6% U308 on surface at multiple locations. This extensive surface mineralization is something Boisjoli claims he has "never seen" in the Athabasca Basin, where he previously worked.The project shares geological similarities with Saskatchewan's uranium-rich Athabasca Basin but appears to have significantly more surface mineralization. Even sandstone samples within the basin show uranium values of 10-20%, compared to typical Athabasca alteration halos that might show only 10-20 parts per million.ATHA is focusing most of its resources on Angilak exploration in 2025, with crews already mobilized. The company's strategy includes expanding known mineralization around the Lac 50 trend, testing the previously undrilled "Mushroom Lake" outcrop, and exploring the newly identified structural corridor.While Angilak is in a remote area, Boisjoli sees Nunavut as a mining-friendly jurisdiction, noting that approximately 50% of its GDP comes from mining activities. The company has secured agreements with local communities and multi-year exploration permits.In terms of scale, Boisjoli noted that overlaying the Angilak project area on the northeast Athabasca Basin would cover an area stretching from Rabbit Lake to Cigar Lake, encompassing multiple mines. He suggested that a resource in the 80-100 million pound range would make the project "very attractive."Boisjoli believes the current uranium market fundamentals are strong, describing it as "a generational period" comparable to the 1970s in terms of demand growth. With supply constraints expected as major mines approach the end of their productive lives, he sees a significant opportunity for large-scale projects in favorable jurisdictions like Canada.View ATHA Energy's company profile: https://www.cruxinvestor.com/companies/atha-energySign up for Crux Investor: https://cruxinvestor.com

Our previous episode: https://www.cruxinvestor.com/posts/us-resource-equities-poised-to-rally-on-permitting-changes-and-project-pipelines-6275Recording date: 24th March 2025Compass, Episode 9Gold and copper prices have reached or are approaching all-time highs, creating favorable conditions across the mining industry. This price environment is beginning to positively impact equity valuations, particularly for producers adding cash to their bottom line at these record commodity prices.A significant indicator of market cycle progression is the accelerating pace of mergers and acquisitions. The M&A trend has evolved from producer-to-producer transactions to producer-to-developer deals, representing a natural maturation in the mining cycle. Recent notable transactions include Calibre-Equinox, Gold Fields' offer for Gold Road, Spartan's acquisition by Ramelius, and Northern Star's purchase of De Grey.What's particularly noteworthy is the increasing scale of these deals, with several multi-billion dollar transactions resetting expectations for developer valuations. The Australian market appears to be leading this trend.Several cash-rich producers remain positioned to make acquisitions, including Lundin Gold, Dundee, Iamgold, Barrick, and Centerra. With gold at all-time highs, producers are experiencing improved cash flows, making acquisitions easier to justify.The current market conditions are especially advantageous for single-asset producers looking to diversify and grow into multi-asset, mid-tier companies. Companies like Lundin Gold and Torex can leverage their strong market capitalizations to acquire additional properties, following a path similar to B2 Gold in previous cycles.Jurisdiction has become increasingly important, with a growing emphasis on secure Western locations. Recent policy developments in North America are enhancing project attractiveness, with Trump signing an executive order to streamline US permitting and Canada's federal government reducing its role in the permitting process. Finland and Sweden also represent favorable jurisdictions with straightforward regulatory frameworks.Three companies highlighted as particularly well-positioned in this environment include Troilus (with 13+ million ounces of gold in Quebec), Arizona Sonora (a copper project in the US with Rio Tinto involvement), and Omai (a gold project showing resource growth potential).As the market matures, investors are advised to position themselves in promising developers and explorers ahead of broader capital flows. While some companies have already seen significant share price appreciation, quality projects in favorable jurisdictions with clear paths to production remain available at attractive valuations.The progression from producer-focused to developer-focused M&A signals a maturing bull market that should benefit quality development projects, creating opportunities for investors who can identify valuable assets before they're recognized by the broader market.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Max Porterfield, President & CEO of Callinex Mines Inc.Our previous interview: https://www.cruxinvestor.com/posts/callinex-mines-tsxvcnx-drilling-for-high-grade-copper-riches-in-manitobas-flin-flon-belt-6063Recording date: 24th March 2025Callinex Mines is developing high-grade copper and gold-rich VMS (Volcanogenic Massive Sulfide) deposits in Manitoba's Flin Flon mining district. The company's flagship Rainbow deposit, coming within 90 meters of surface and drilled to a depth of 900 meters, represents one of the highest-grade copper resources in North America.Led by President and CEO Max Porterfield, Callinex has submitted an advanced exploration permit that would allow development of a ramp to access Rainbow and extract a 10,000-ton bulk sample. This first phase of permitting, potentially approved by late 2025, could lead to full-scale production after obtaining an environmental license."If you're buying Calinex today for less than a $20 million market cap Canadian, you're getting exposure to just shy of 6 million tons of some of the highest grade copper mineralization not just North America but on a global basis," stated Porterfield.The majority of Rainbow's resource (3.44 million of 4.7 million tons) already falls within the indicated category. The company has consolidated over 10,000 hectares of underexplored land, creating a district-scale opportunity in what it calls the "Pine Bay camp."Rather than focusing on infill drilling at Rainbow, Callinex is shifting attention to growing resources through exploration at shallow historic deposits. Primary targets include the "Visionary" area containing the Leo deposit and the "General" area with the Alberts deposit. Historical drilling at Visionary intersected significant mineralization, including 8.5 meters of 3% copper in one hole and 3 meters of over 5% copper with gold credits in another.Callinex is the only junior mining company with a 43-101 copper resource in Manitoba and the only copper resource within 30 kilometers of Flin Flon. The company maintains a tight capital structure with no debt, positioning itself for growth as it pursues a two-pronged approach of resource expansion and permitting advancement.With copper prices rising amid projected supply deficits by 2030, Callinex's high-grade resources in a stable jurisdiction appear well-positioned. As Porterfield noted, "Being in Canada, being in a safe jurisdiction, being in close proximity to this infrastructure and being in a position to be able to fast track that as our leaders within Canada look to explorers like Kalinex to transition and be the next producers puts us in an ideal place."View Callinex Mines' company profile: https://www.cruxinvestor.com/companies/callinex-minesSign up for Crux Investor: https://cruxinvestor.com

Interview with Elaine Ellingham, President & CEO of Omai Gold Mines Corp.Our previous interview: https://www.cruxinvestor.com/posts/omai-gold-mines-tsxvomg-unearthing-guyanas-multi-million-ounce-golden-potential-5939Recording date: 24th March 2025Omai Gold Mines (TSXV: OMG) is making significant progress developing a past-producing gold property in Guyana that was previously South America's largest primary gold producer. The company has established a substantial resource base of 4.3 million ounces across two deposits – Wenot and Gilt Creek – with 2 million ounces in the indicated category and 2.3 million ounces in the inferred category.Recent exploration efforts have yielded promising results, particularly at the Wenot deposit where drilling below 350 meters has revealed higher grades, including an exceptional intersection of 4.48 g/t gold over 57 meters. The company is employing both infill and step-out drilling strategies to expand the resource. Infill drilling is targeting areas with spacing exceeding 150 meters, while step-out drilling aims to extend the resource to greater depths."We've been drilling about 14,000 meters of additional drilling last year and another 8,000 meters already this year," noted Elaine Ellingham, President and CEO of Omai Gold Mines.The Gilt Creek deposit, located only 400 meters from Wenot, has also shown promise. Recent drilling intersected 774 meters of mineralized intrusive rock averaging 1 g/t gold. The existing resource at Gilt Creek stands at approximately 1.8 million ounces with an average grade of 3.2 g/t.A preliminary economic assessment completed last year demonstrated a net present value of $560 million USD with a 13-year mine life and average annual production of 142,000 ounces of gold. However, management considers this a baseline scenario and aims to extend the mine life to 20 years in future assessments."It was just a starting point for us but still a very healthy net present value," Ellingham explained.Omai Gold is well-funded following a recent financing round that raised over $25 million, with current cash reserves exceeding $30 million. This positions the company to continue its exploration and development activities throughout the year.The project benefits from several operational advantages, including being a brownfield site with known metallurgy, good road access, and proximity to assay labs in Georgetown. All-in drilling costs remain below $200 per meter, considered exceptional in the current environment.Currently trading at approximately $38 per resource ounce, management believes the company represents a compelling investment opportunity compared to peers in the Guyana Shield region.View Omai Gold Mines' company profile: https://www.cruxinvestor.com/companies/omai-gold-minesSign up for Crux Investor: https://cruxinvestor.com

Garrett Ainsworth, CEO of District Metals, discusses the company's recent activities, including their liquidity on the Swedish market and the latest drill results from the Stollberg  project. He provides insights into the technical aspects of the drilling program, future plans for exploration, and updates on the uranium moratorium in Sweden, highlighting the positive direction of the government's actions regarding uranium mining.

Kyle Samani is the Co-Founder and Managing Partner of Multicoin Capital. In this episode, Samani discusses the current state of the crypto market and venture capital funding in the industry. Samani highlights areas which he believes are key investment opportunities, and lays out why he sees a brighter future for Solana in on-chain finance over Ethereum. OUTLINE 00:00 Introduction 00:32 Sponsor Break 02:24 VC Funding Downtrend 08:04 Clarifying Crypto's Usecases 13:46 New Era of Crypto Regulation 17:06 Regulatory Clarity = Increased Investment? 22:49 Samani's Revised Solana Thesis 25:28 Solana vs. Ethereum 32:17 Closing Thoughts & Predictions GUEST LINKS Kyle Samani on X: https://x.com/KyleSamani Multicoin capital on X: https://x.com/multicoincap Are you hiring in crypto? Use Campus to quickly find your best candidates with our challenging Crypto Assessment Test. Faster hiring, stronger teams. Sign up for a trial today: theblock.co/campus This episode is brought to your by our sponsors: Fidelity Explore Fidelity crypto careers today. Go to crypto.FidelityCareers.com to learn more. Uranium.io Investing in uranium is now widely accessible. Visit uranium.io to learn more.

Interview with Jason Attew, President & CEO of Osisko Gold RoyaltiesOur previous interview: https://www.cruxinvestor.com/posts/which-gold-miners-are-primed-for-a-re-rating-5309Recording date: 21st March 2025Osisko Gold Royalties has undergone a remarkable transformation under CEO Jason Attew, emerging as a pure-play precious metals royalty and streaming company with a strengthened balance sheet and simplified business model. With its 10th anniversary recently celebrated, the company now boasts a portfolio of 185 assets, including 21 producing properties.The most significant change has been abandoning the previous "generator/incubator" model, which involved purchasing and developing mining assets. According to Attew, this approach led to "destruction of shareholder value" due to the different skill sets required for development and the challenges of permitting and construction in today's inflationary environment. Instead, Osisko now focuses exclusively on providing capital through royalties and streams on high-quality assets managed by technically skilled teams in premium jurisdictions.Governance improvements have been another priority, with the elimination of the executive chair position, removal of related party transactions, and complete independence from other Osisko group companies. The company has also significantly reduced its net debt from over $250 million to approximately $35 million, while securing $750 million CAD in liquidity for future transactions.Osisko's portfolio is anchored by its crown jewel - a 5% royalty on Canadian Malartic operated by Agnico Eagle, representing approximately 37.5% of 2024 cash flow. Approximately 80% of the company's net asset value comes from tier-one jurisdictions in Canada, the US, and Australia, reducing geopolitical risk.Despite being a mid-tier player with about 5% of the sector's market capitalization, Osisko has captured approximately 10% of royalty deal flow, completing three transactions in 2024. These included acquiring a 1.8% royalty on Dalgaranga in Western Australia and participating in a syndicated transaction with Franco-Nevada for the Cascabel asset in Ecuador.Looking ahead, Osisko projects 40% growth over the next five years, with production increasing from 81,000 gold equivalent ounces in 2024 to between 110,000 and 125,000 ounces. Half of this growth will come from assets already in production, including Mantos Blancos and Island Gold.With a disciplined investment approach targeting deals between $50-500 million, strong margins of approximately 97%, and increasing institutional investor support, Osisko has positioned itself as a competitive force in the precious metals royalty sector, outperforming its peers in 2024 despite being a relatively young company in the space.View Osisko Gold Royalties' company profile: https://www.cruxinvestor.com/companies/osisko-gold-royaltiesSign up for Crux Investor: https://cruxinvestor.com

Interview with Andrew Cox, President & CEO, and Alex Black, Executive Chairman, of Rio2 Ltd.Our previous interview: https://www.cruxinvestor.com/posts/erdene-rio2-tsxerd-tsxvrio-two-gold-juniors-battle-market-skepticism-on-path-to-production-6552Recording date: 20th March 2025Rio2 Limited is making significant progress on its Phoenix Gold Project in Chile's Atacama Desert, one of the few substantial new gold production developments in an industry dominated by mergers rather than new supply. With 5 million ounces of measured and indicated gold resources, the project is fully funded and on track for first gold pour in January 2026.Located at elevations approaching 5,000 meters, construction officially began in October 2024 after pre-construction activities were initiated in 2022 with early financing from Wheaton Precious Metals. Currently, approximately 1,130 workers are on site, approaching the expected construction peak of 1,200 workers.The project features favorable economics with a relatively low capital expenditure of approximately $120 million for 2025. Its simple open-pit mining operation benefits from low strip ratios (0.85:1 initially, 1.2:1 in expansion phase) and minimal pre-stripping requirements, as mineralization outcrops at surface across extinct volcanic peaks.Initial production will target 1.7 million ounces of the total 5 million ounce resource, with output expected to reach around 70,000 ounces in 2026, ramping up to 100,000 ounces annually by 2027. The company is already planning an expansion to triple production to approximately 300,000 ounces per year.Current challenges include managing winter construction timelines and water logistics. Initially, Phoenix Gold will operate using trucked water from Copiapó, while evaluating three desalination plant options for the longer term. The company is working collaboratively with Kinross to develop a shared water solution.After previously facing regulatory delays when a new government came to power in Chile, Rio2 has successfully navigated these hurdles and received its environmental approval with additional monitoring conditions.Management views the current market valuation (approximately $250 million USD) as substantially undervaluing the project given its scale and near-term production status. They draw comparisons to other recent producers that have grown to multi-billion dollar valuations once reaching production.The project's remote location minimizes typical environmental and community impact concerns, with no nearby population centers, no surface water to be affected, and limited flora and fauna. Executive Chair Alex Black emphasizes the project's simplicity: "We're confident, I mean this is simple... it's all about simplicity here and it's an earthmoving exercise."View Rio2's company profile: https://www.cruxinvestor.com/companies/rio2-limitedSign up for Crux Investor: https://cruxinvestor.com

Register for the Rule Symposium Here: https://registration.allintheloop.net/register/event/rick-rule-symposium-2025-ccha?via=ProvenAndProbable ​Dev Randhawa is a notable figure in the uranium sector, recognized for his leadership and contributions to mining exploration. He has received several industry accolades, including:​ Mining Person of the Year 2013 by Northern Miner Magazine. ​The Northern Miner Mining Journal Excellence Award 2015 for Exploration, awarded to Fission Uranium Corp. during his tenure. Mining Person of the Year 2013 by Northern Miner Magazine. ​ As CEO of F3 Uranium, Randhawa has overseen significant discoveries in the Athabasca Basin, notably the JR Zone at the Patterson Lake North (PLN) project in 2022. This high-grade uranium find underscores his team's expertise in advancing uranium exploration. ​ In 2025, the uranium market is experiencing volatility influenced by geopolitical factors and supply-demand dynamics. Despite short-term price fluctuations, the long-term outlook remains positive, driven by increasing demand from new reactor constructions and the expansion of nuclear energy initiatives. ​ F3 Uranium continues to focus on developing the JR Zone, with ongoing drilling programs aimed at expanding and delineating this promising deposit. And now in today's interview, this narrative will now include the broach property. As F3 Hits Anomalous Radioactivity 12km South of JR Zone on Broach Property. For a broader perspective on current uranium market trends, you might find the following video insightful: F3 Uranium Website: https://f3uranium.com/ TSX.V: FUU | OTCQB: FUUFF Press Release: https://f3uranium.com/f3-hits-anomalous-radioactivity-12km-south-of-jr-zone-on-broach-property/ Corporate Presentation: https://f3uranium.com/corporate/ Contact: ir@f3uranium.com +1 778-484-8030 On this channel, you'll find: Exclusive Interviews with industry leaders, analysts, and mining executives. Market analysis on the latest developments in precious metals and mining stocks. Educational videos to help you navigate the world of resource investing. Investment strategies and insights to enhance your portfolio. Stay tuned for new videos every week, and don't forget to subscribe to join a growing community of resource investors. Subscribe now to stay ahead of the curve and learn from the best in the industry. WEBSITE: https://provenandprobable.com/

Michael Rihani is the director of products at Coinbase and one of the chief architects behind Coinbase's new bitcoin-backed loan product for everyday consumers. In this episode, Rihani explains how Coinbase's new loan product is designed to make DeFi feel 'magical,' and how this fits into Coinbase's broader strategy of bringing the power of blockchain technology to a global audience. OUTLINE 00:00 Introduction 00:57 Sponsor Shoutouts 03:11 Coinbase's New Loan Product 07:50 The "DeFi Mullet" 09:21 Morpho Integration 11:52 CeFi+DeFi Synergy 17:00 Coinbase's Product Roadmap 21:00 Making DeFi "Magical" 23:12 DeFi Adoption Roadblocks 25:54 The Future of DeFi Lending GUEST LINKS Michael Rihani on X: https://www.x.com/MichaelRihani Coinbase's crypto-backed loans: https://www.coinbase.com/loans Are you hiring in crypto? Use Campus to quickly find your best candidates with our challenging Crypto Assessment Test. Faster hiring, stronger teams. Sign up for a trial today: theblock.co/campus This episode is brought to your by our sponsors: Fidelity Explore Fidelity crypto careers today. Go to crypto.FidelityCareers.com to learn more. Uranium.io Investing in uranium is now widely accessible. Visit uranium.io to learn more.

In this episode, host Frank Chaparro is joined by M13 General Partner Latif Peracha and M13 Principal Mark Grace. The conversation explores the risks and opportunities presented by crypto's volatile liquid tokens, as well as the need for crypto founders to balance short-term liquidity with long-term potential when it comes to bootstrapping. OUTLINE 00:00 Introduction 01:17 Sponsor Shoutouts 03:40 Overview of M13 08:07 Generalist Crypto VCs 10:35 IPOs vs. ICOs 12:42 Token Volatility 18:32 Taking Profit 22:30 Opportunities in CeFi vs. DeFi 28:20 Regulatory Clarity & Innovation 31:17 Predictions & Closing Thoughts GUEST LINKS M13 - https://www.m13.co/ M13 on X - https://x.com/M13Company Latif Peracha on X: https://x.com/latifperacha Mark Grace on X: https://x.com/markwgrace This episode is brought to your by our sponsors: Fidelity - Explore Fidelity crypto careers today. Go to crypto.FidelityCareers.com to learn more. Uranium.io - Investing in uranium is now widely accessible. Visit uranium.io to learn more.

Congressman Tom Tiffany from Wisconsin delves into the current political landscape and discusses President Trump's recent announcement on mining rare earth minerals in the U.S. and its potential impact on the manufacturing sector. Congressman Tiffany shares insights on the need for regulatory reform in the permitting process and the importance of energy independence through natural gas and nuclear power, as well as the implications of eliminating the Department of Education and how it could reshape education in America. Later, Kevin Freeman, host of Economic War Room, talks economic warfare. Discover the implications of recent events, including the arrest of Chinese hackers and the push for gold transactions in Utah. Kevin shares insights from his bestselling book, Pirate Money, and discusses how these changes could reshape the American economy. Finally, a bomb threat on the opening day of Shen Yun's performance at the Kennedy Center last week is just the latest in a string of threats the America-based Chinese dance group says it has received, with 19 incidents since the new year. Leeshai Lemish, the spokesperson for Shen Yun, joins to discuss the group's extraordinary performances and the challenges they face from the Chinese Communist Party. Discover the inspiring stories behind the artistry, the ongoing struggle for freedom of expression, and how Shen Yun continues to resonate with audiences worldwide despite opposition. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.