Podcasts about Uranium

Interview with  Sam Lee, CEO of Northisle Copper & GoldOur previous interview: https://www.cruxinvestor.com/posts/northisle-copper-gold-tsxvncx-district-scale-is-the-prize-8032Recording date: 6th October 2025Northisle Copper & Gold is advancing one of British Columbia's most significant undeveloped copper-gold assets at a pivotal moment when political alignment, commodity fundamentals, and strategic capital partnerships have converged to enable accelerated development. The company controls a major porphyry project hosting over 7 million ounces of gold and 3.5 billion pounds of copper on Vancouver Island.Since CEO Sam Lee joined in October 2020, the company has systematically addressed the critical questions defining success in large-scale porphyry development. Exploration success at Northwest Expo and West Goodspeed delivered higher-grade zones that dramatically reduced capital intensity while improving project economics, culminating in what Lee characterizes as "one of the strongest PEAs I've seen in the market in the last decade."The company's recent $40 million financing marked a transformational milestone, bringing Wheaton Precious Metals as cornerstone investor alongside nine institutions. This partnership establishes a pathway to exceptionally low-cost capital, with streaming arrangements expected to provide financing at 0-4% cost when finalized. Combined with potential Asian strategic partnerships offering 2% export credit financing, Northisle expects blended capital costs of 2-3% for project development.A distinctive feature of Northisle's project is its substantial gold component, which serves as a financial bridge to larger copper production. "We have a very high margin gold project upfront in phase one that allows us to bridge into a big capital intensive copper project," Lee explained. This structure provides execution advantages over copper-only projects while reducing financing risk.The company has assembled a world-class technical team including Kevin O'Kane as Chief Operating Officer, bringing 37 years of BHP experience, and Dr. Pablo Mejia as VP Exploration from Ero Copper. Lee emphasizes unprecedented political alignment across First Nations, provincial, and federal governments as creating an optimal window for accelerated permitting. "In my 30 years of being in the mining industry, I've never seen such political alignment for natural resource development projects like ours," he stated.With favorable copper market dynamics including negative treatment charges and institutional backing secured, Northisle is positioned to advance rapidly toward production while maintaining district-scale expansion potential across a 30-year mining horizon.Learn more: https://www.cruxinvestor.com/companies/northisle-copper-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Alberto Orozco, CEO of Capital Silver Corp.Our previous interview: https://www.cruxinvestor.com/posts/capitan-silver-tsxvcapt-mexico-explorer-raises-53m-at-premium-and-announces-exploration-plan-6828Recording date: 6th October 2025Capitan Silver Corp. has achieved what no company has accomplished in over a century: consolidating Mexico's historically productive Cruz de Plata silver district under single ownership. Through two strategic transactions in 2022 and August 2024, the company has reunited lands where Peñoles mining company operated its first mine, producing 300 up to 2,000 g/t silver from the late 1800s until the Mexican Revolution fragmented the property in 1908.The consolidation has unlocked more than just historical mining grounds. A geological breakthrough revealed that mineralization wraps around an intrusive body, expanding the company's exploration targets threefold from 7 to over 20 kilometers of cumulative structural targets. The addition of over 2,000 hectares provides multiple discovery pathways within a single unified project, creating portfolio diversification that reduces exploration risk while maximizing upside potential.Leading this effort, CEO Alberto Orozco and the management team is composed primarily of ex-Argonaut Gold personnel who built and operated three mines on time and on budget. Their operational experience distinguishes Capitan Silver from exploration peers focused solely on resource definition. The team evaluates Cruz de Plata through a developer's lens, considering mining methods, processing requirements, and operational costs from the earliest exploration stages, with recent hires focused specifically on development aspects signaling medium-term production ambitions.Management's strategic discipline during the challenging markets of 2022-2023 demonstrates commitment to long-term shareholder value over short-term activity. Rather than pursuing dilutive financing to continue drilling when capital markets were unfavorable, the company paused exploration to focus on property consolidation and royalty removal. This counter-intuitive approach positioned Capitan Silver with a royalty-free asset and exceptionally clean capital structure—including zero warrants outstanding and recent financings completed at 30% premiums to market—precisely as silver fundamentals strengthened and capital returned to the sector.The Jesus Maria target, where 1.5 kilometers of strike length has been defined through drilling, exemplifies the project's key advantages. Mineralization outcrops at surface and extends to depth without requiring penetration through barren overburden, enabling cost-efficient reverse circulation drilling to test the upper 150-200 meters rapidly before committing to more expensive diamond drilling. The first 11 holes from the current program have already identified a new high-grade zone and delivered one of the best results in the property's history.Cruz de Plata represents an intermediate sulfidation epithermal system, a deposit type that has generated billion-dollar valuations through successful examples including Vizsla Silver's $2 billion market capitalization. At Capitan Silver's current valuation of approximately $180 million, the company trades at a significant discount to established peers, offering potential 10x+ upside if drilling validates the expanded geological model and demonstrates comparable scale and grade.The timing appears favorable on multiple fronts. Silver prices approach $50 per ounce, driven by strengthening industrial demand from solar panels and electric vehicles combined with traditional investment demand. Mexico's regulatory environment has improved measurably under the Sheinbaum administration, with permitting advancing across the sector. Strategic investor participation, including Michael Gentile since 2021, provides patient capital and validation through extensive due diligence.For investors seeking leveraged exposure to silver exploration with proven management capable of advancing discoveries toward production, Capitan Silver offers a compelling opportunity built on historical validation, modern geological understanding, and disciplined execution in a strengthening fundamental environment.View Capitan Silver's company profile: https://www.cruxinvestor.com/companies/capitan-silverSign up for Crux Investor: https://cruxinvestor.com

Interview with Chris Frostad, President & CEO of Purepoint UraniumPrevious interview: https://www.cruxinvestor.com/posts/purepoint-uranium-tsxvptu-high-grade-uranium-found-with-isoenergy-jv-7520Recording date: 8th October 2025Purepoint Uranium Group has emerged as a differentiated uranium exploration company through its combination of a significant new discovery in Saskatchewan's Athabasca Basin and a self-sustaining business model built on strategic partnerships with major industry players. The company's recent progress demonstrates how junior explorers can advance high-quality projects while maintaining capital efficiency and minimizing shareholder dilution.The Dorado discovery represents the company's most significant value driver. Four drill holes have intersected high-grade uranium mineralization in a region where CEO Chris Frostad notes that "98% of the drill holes that get poked up there in Saskatchewan come back with this much uranium." This statistically unusual success rate, combined with the discovery's location on trend with IsoEnergy's Hurricane deposit, suggests potential for district-scale mineralization. Management has committed to deploying substantially more capital on Dorado during the upcoming winter drilling season than was spent across all company projects in the previous year, signaling clear prioritization of this highest-conviction target.Purepoint's partnership structure provides unusual financial sustainability for a junior exploration company. The company operates six joint ventures with Cameco, Orano, IsoEnergy, and Foran Mining across 10 Saskatchewan projects. As exploration operator, Purepoint earns management fees that cover substantially all annual overhead expenses while receiving partners' capital monthly for drilling programs rather than carrying full exploration costs. This structure allows the company to advance multiple projects without burning through capital simply to maintain operations.The 50-50 partnership with IsoEnergy on Dorado and surrounding properties covering 100,000 hectares demonstrates sophisticated deal-making that protects Purepoint's interests through the entire project lifecycle. The agreement establishes Purepoint as exploration operator through resource definition, at which point IsoEnergy would assume development responsibilities. Detailed provisions address financing decisions, security arrangements, and mechanisms to protect both parties' interests, recognizing that partners may have different objectives and timeframes.Capital efficiency remains a key competitive advantage. Purepoint's recent $6 million financing was executed entirely through charity flow-through shares at premiums exceeding 50% above market price, with IsoEnergy contributing $1 million. This financing mechanism—which enables non-Canadian investor participation and generates substantially higher premiums than traditional flow-through shares—significantly reduces shareholder dilution compared to conventional equity raises. The company also has approximately $5 million in unexercised warrants currently in the money, providing additional capital optionality.The upcoming winter drilling season beginning in January represents a critical catalyst period. Systematic exploration of Dorado will provide real-time feedback allowing continuous vectoring toward mineralization zones, while partner budget meetings over the coming months will define additional work programs across Hook Lake and other joint venture projects. The company's measured approach to drilling—maximizing information value from each hole rather than racing to complete large programs—reflects management's commitment to capital discipline.For investors seeking exposure to uranium exploration in a tier-one jurisdiction, Purepoint offers a genuine discovery in its early stages, operational leverage through major partnerships, and a business model that provides financial sustainability while maintaining significant equity upside. The systematic winter drilling program will determine whether Dorado represents a district-scale opportunity or a more limited occurrence, with results expected to flow throughout the season as exploration progresses.View Purepoint Uranium's company profile: https://www.cruxinvestor.com/companies/purepoint-uranium-group-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Julian Treger, President & CEO of CoTec HoldingsRecording date: 7th October 2025CoTec Holdings is pioneering a new era in mining by repurposing industrial waste and tailings through six proprietary technologies, aiming to develop nearly 20 assets by 2030 with potential net present values exceeding $2-3 billion. Led by CEO Julian Treger, a seasoned investor who scaled Anglo Pacific's earnings from $5 million to over $100 million in eight years, the company holds a current market value of $130 million CAD, with 60% insider ownership driving a goal of surpassing $1 billion in valuation. Treger's approach exploits market gaps: outdated extraction methods persisting despite decades of R&D spending, and undervalued waste sites containing extractable metals like iron ore, copper, tungsten, manganese, vanadium, nickel, and tin.From a Canadian shell acquired at 12 cents per share with $90 million in tax losses, CoTec assembled a board featuring Rio Tinto's former CEO Tom Albanese and Rio Ventures' John McGagh. They screened 400 technologies, selecting mid-stage innovations at readiness levels 5-9—avoiding lab experiments—for equity stakes, licenses, or partnerships. These enable processing hard rocks, fine particles, and low-grade ores, with a standout in rare earth magnet recycling from e-waste, developed by Birmingham University for over $100 million.Flagship assets illustrate the model: Quebec's Cartier mine tailings (120 million tons) bought for $2 million, projecting $130-150 million NPV on $60 million capex, while slashing government rehabilitation costs from $200 million to under $100 million. A Minnesota iron ore site, with 2.6 billion tons and a $1 billion NPV, gives CoTec 17% ownership. The U.S. magnet business, 60% owned, plans three $600 million NPV hubs starting production in 2027, addressing China's export blacklists to defense firms. Treger notes ongoing talks with the White House, calling recycling a "very good plan B insurance policy" against supply risks.Financing emphasizes asset-level raises at 30-40% NPV discounts, using government funds to limit parent dilution and preserve value. Treger prioritizes capital gains over salaries, targeting "warp speed" timelines—2-3 years versus mining's 29-year average. With patents and first-mover access to 10,000+ Canadian closed mines, CoTec positions for strategic minerals in electrification and defense, backed by Treger's $500 million-to-$3 billion investment track record. This nimble model promises outsized returns amid global reshoring.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Matt Manson, President & CEO of Radisson Mining Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/radisson-mining-tsxvrds-reviving-high-grade-gold-in-quebec-with-smart-low-capex-strategy-5941Recording date: 6th October 2025Radisson Mining Resources presents investors with a compelling value proposition in high-grade gold development: exceptional discovery economics, capital-efficient processing strategy, proven management execution, and substantial leverage to rising gold prices. The company is advancing the O'Brien Gold Project in Quebec's world-class Abitibi mining district, where historical production between the 1920s and 1950s established the deposit's credentials through museum-quality visible gold specimens and half-ounce head grades.The investment thesis begins with remarkable discovery economics. Radisson trades at approximately C$150 per ounce of resources while adding new ounces at C$30-40 per ounce discovery costs—a 4:1 spread that creates immediate value with every successful drill result. The company has defined 1.5 million ounces of high-grade gold at 8 grams per tonne in indicated resources and is systematically drilling toward a 3-4 million ounce target. The geological model—mesothermal gold deposits along the prolific Cadillac-Larder Lake Break—provides predictable exploration targets with demonstrated success. CEO Matthew Manson described the approach: "We said okay let's get aggressive with the drilling. Let's do these big stepouts. So let's drill deeper. And yeah, we hit and we've hit everywhere we've drilled."Rather than building standalone processing facilities requiring hundreds of millions in capital, Radisson targets ore processing through existing regional mills. This hub-and-spoke model reduces initial capital requirements to C$175 million for mine development, underground infrastructure, and water treatment. A recent engineering study demonstrated C$500 million net present value at $2,500 gold using only 740,000 ounces—less than half current resources—delivering a 3:1 NPV-to-capex ratio. Mill owners actively seek ore feed to maintain operations, creating competitive dynamics favorable to suppliers.The project benefits from exceptional infrastructure positioning adjacent to highways, existing power lines, and established mining communities. This eliminates costly remote camp construction and enables commuting workforce, reducing both capital requirements and operating costs while improving social acceptability.The board collectively brings experience from nine mine construction projects. Manson successfully led the on-time, on-budget construction of the Renard mine in Quebec and advanced Marathon Gold's Valentine project to recent production. This track record directly addresses execution risk—the primary concern for development-stage mining investments.As a high-grade deposit, O'Brien delivers disproportionate margin expansion as gold prices rise. With mining costs relatively fixed and revenue per tonne increasing directly with gold price, the recent engineering study based on $2,500 gold appears increasingly conservative as prices approach $4,000 per ounce.Prominent resource investor Michael Gentile serves on the board with personal family capital invested, providing both credibility and strategic guidance while supporting European institutional roadshows. The company maintains flexibility to pursue toll milling agreements, joint ventures with regional producers, or corporate transactions—positioning to deliver optimal risk-adjusted returns.Radisson offers exposure to high-grade Quebec gold development with exceptional discovery economics, capital-efficient strategy, proven management, and strong gold price leverage. The combination of immediate value creation through drilling, multiple pathways to development, and substantial upside to rising gold prices creates a compelling risk-reward profile for resource investors seeking exposure to advanced-stage projects with clear paths to production.View Radisson Mining's company profile: https://www.cruxinvestor.com/companies/radisson-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Bart Jaworski, CEO of Group Eleven ResourcesOur previous interview: https://www.cruxinvestor.com/posts/group-eleven-resources-tsxvzng-pitch-perfect-october-2025-8200Recording date: 6th October 2025Group Eleven Resources has emerged as one of Ireland's most significant mineral explorers following the discovery of high-grade zinc-lead mineralization extending 2.6 km along a prospective 6 km trend. The Ballywire project delivers exceptional grades averaging 10% zinc-lead with 100 grams per ton silver, substantially exceeding the 6% global average for operating mines. This positions the company to capitalize on Ireland's reputation for producing clean, high-quality concentrates favored by major smelters worldwide.Recent drilling has identified significant copper mineralization beneath the zinc discovery, intercepting 6 meters grading nearly 4% copper and 1,000 g/t silver. This copper-silver horizon represents a strategic shift, exposing the project to the high-demand copper market where major mining companies actively seek new supply sources. The discovery places Ballywire within a historical copper belt hosting several prospects, two previously mined.With CAD $8.4 million secured through recent financing, Group Eleven has funded over 25,000 meters of drilling extending through 2027. The company operates three drill rigs year-round with plans to expand to four, benefiting from Ireland's exceptionally low drilling costs of $150 CAD per meter and year-round accessibility. The exploration strategy focuses on testing three remaining gravity anomalies and delineating copper-silver mineralization at depth.The project benefits from backing by Glencore and mining entrepreneur Michael Gentille, plus strategic proximity to Glencore's nearby 50-million-ton deposits. Ireland's government supports the sector through its EUR 30 million Irish Mining Fund, which provides equity investment alongside private capital.Learn more: https://www.cruxinvestor.com/companies/group-eleven-resources-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Brian Miller, Director & CEO of Astra ExplorationOur previous interview: https://www.cruxinvestor.com/posts/astra-exploration-astr-gold-silver-project-drilling-commences-2262Recording date: 6th October 2025Astra Exploration has positioned itself as one of the more compelling junior exploration stories in the current precious metals bull market, combining proven high-grade mineralization, significant expansion potential, sophisticated backing, and immediate drilling catalysts at its La Manchuria gold-silver project in Argentina.The investment case rests on exceptional initial drill results that delivered 35 g/t gold with 8,300 g/t silver and over 200 g/t gold in separate intervals, all within 100 meters of surface. These results validated a reinterpreted geological model developed by head of exploration Diego Guido, who worked on the property 20 years earlier and recognized that previous operators had missed the high-grade feeder zones at depth by focusing exclusively on shallow bulk-tonnage potential. With over 20,000 meters of historical drilling providing a robust data foundation, Astra's technical team identified an opportunity that had been hiding in plain sight.The company's capital structure distinguishes it within the junior exploration space. Michael Gentile, a respected mining investor, holds approximately 17% after participating in multiple financing rounds since his initial $1 million investment in 2022. Together with management and a consortium of cornerstone investors, insiders control 75% of shares, leaving just 25% in public float. This concentration signals strong conviction from sophisticated investors who have conducted thorough due diligence, though it also creates liquidity constraints and potential for amplified volatility in both directions.Immediate catalysts emerge from the 10,000-meter dual-rig drill program launching in October 2025. One rig will systematically expand known mineralization along strike and at depth, where success should incrementally build confidence in the system's scale and continuity. The second rig will test previously unexplored regional targets, offering blue-sky discovery potential that CEO Brian Miller describes as "a game changer" capable of taking the company "to a whole new level." Initial results are expected by year-end 2025, with steady news flow through mid-2026 providing multiple re-rating opportunities.Management's capital efficiency discipline and shareholder alignment deserve emphasis. The team worked without pay for 13 months during the La Manchuria acquisition rather than dilute shareholders in a challenging market environment. This approach—prioritizing per-share value creation over aggressive growth—contrasts sharply with the capital-destructive behavior common among junior explorers and positions Astra to benefit as the exploration funding cycle develops.The macro backdrop appears increasingly favorable. Gold at record highs and silver approaching $50 per ounce generate substantial producer free cash flow that must eventually flow toward reserve replacement and exploration. While Miller acknowledges that this cycle "has been much slower to develop" than historical patterns, the direction of travel seems clear: cash-rich producers need quality exploration assets, and companies with proven teams, high-grade discoveries, and near-term catalysts should command premium valuations.Risks remain substantial. Exploration is inherently uncertain—even well-conceived programs can disappoint. The tight float could amplify downside volatility on negative news as readily as it might magnify gains on success. Commodity price corrections would impact both discovery value and strategic acquisition premiums. Investors should approach Astra as a high-conviction, high-volatility opportunity appropriate only for risk capital allocated to the exploration segment, with position sizing reflecting both the asymmetric upside potential and the meaningful probability of capital loss inherent in discovery-stage ventures.View Astra Exploration's company profile: https://www.cruxinvestor.com/companies/astra-explorationSign up for Crux Investor: https://cruxinvestor.com

Interview with Louis-Pierre Gignac, President and CEO of G Mining Ventures Corp.Our previous interview: https://www.cruxinvestor.com/posts/g-mining-ventures-tsxgmin-champion-iron-tsxcia-playbook-for-success-7198Recording date: 7th October 2025G Mining Ventures Corp. presents investors with one of the most compelling growth profiles in the mid-tier gold sector, combining immediate cash flow generation with a clear pathway to nearly triple production by 2028—all without shareholder dilution. The company is executing a disciplined strategy that leverages operational cash flows and non-dilutive debt financing to fund aggressive expansion during a period of historically elevated gold prices.The foundation of G Mining's investment case rests on its Tocantinzinho mine in Brazil, which generates substantial cash flow with all-in sustaining costs of $1,170 per ounce. At current gold prices above $2,600 per ounce, this creates operating margins translating to more than $250 million in annual operating cash flow before royalties and corporate costs. The mine's structural advantages—including access to cheap hydroelectric power, low strip ratios, and modern infrastructure—provide cost competitiveness and protection against inflation that many peers lack. This cash generation is funding G Mining's transformation into a multi-asset producer. The company recently announced a $350 million corporate credit facility with a $150 million accordion feature that, combined with Tocantinzinho's cash flows, fully finances development of the Oko West project in Guyana without equity raises. The 350,000 ounce per year project will bring total company production to 500,000 ounces by 2028—representing 186% growth from current levels.Oko West's development is progressing ahead of schedule, with 35% engineering completion and nearly $100 million invested by August 2025. All major equipment procurement has been completed, de-risking delivery timelines that have challenged many mining projects. The company received its full permit in September 2025 and targets first gold production in October 2027, with 700 workers currently on site ramping to 1,500+ by Q1 2026.Despite this progress, G Mining trades at a P/NAV of 0.86x—below its peer group—creating what management views as significant re-rating potential. At $3,400 gold prices, Gignac noted that Oko West alone carries a $4 billion net asset value, compared to the company's current total market capitalization of $5-6 billion. "We do expect to have that rerate process taking place in our valuation as we continue developing and advancing the project," he explained. "We go and get that valuation just by successfully executing on the project."Beyond the near-term growth to 500,000 ounces, G Mining's Gurupi project in Brazil offers additional upside. With an existing 2.6 million ounce resource that management believes can expand to 4-5 million ounces, Gurupi could support a third 200,000+ ounce per year operation. The first drilling since 2019 begins in November 2025 following the recent lifting of a historical injunction, providing near-term exploration catalysts independent of Oko West's construction timeline.For investors seeking exposure to gold with exceptional operational leverage, proven management execution, and multiple near-term catalysts, G Mining warrants serious consideration. The combination of non-dilutive growth financing, below-peer valuation, and a clear pathway to production expansion creates a compelling risk-reward profile in the current precious metals environment.View G Mining Venture's company profile: https://www.cruxinvestor.com/companies/g-mining-venturesSign up for Crux Investor: https://cruxinvestor.com

Interview with Kiril Mugerman, CEO, Geomega ResourcesOur previous interview: https://www.cruxinvestor.com/posts/geomega-resources-gma-i-got-a-better-way-i-discovered-a-star-311Recording date: 8th October 2025Geomega Resources has secured a $4.5 million demonstration license agreement with Rio Tinto to deploy proprietary bauxite residue processing technology at a Quebec facility, marking a strategic pivot from mineral exploration to a technology royalty business model. The agreement includes $1.4 million in immediate payment, $100,000 in early 2026, and up to $3 million through construction and production milestones as Rio Tinto validates the technology before potential commercial-scale deployment.The company's three-circuit processing system addresses a century-old challenge facing the global aluminum industry. Approximately 100 refineries worldwide produce millions of tons of bauxite residue annually, creating massive environmental liabilities with no economically viable processing solution. Geomega's technology reduces this waste by 80-85% while extracting critical metals including scandium, gallium, iron, high-purity silica, and alumina. CEO Kiril Mugerman explained that the process works sequentially, with circuit one handling caustic components, circuit two processing iron, and circuit three recovering high-value critical metals.The technology achieves reagent recovery rates above 90%, having completed hundreds of piloting cycles using the same materials repeatedly. Unlike traditional mining metallurgy requiring aggressive acids and special reactor coatings, Geomega employs weaker reagents compatible with standard equipment. The modular design allows customization for different bauxite sources, from Jamaican deposits with high scandium content to other geographic variations.Geomega owns 100% of its intellectual property through patents and trade secrets, with a lean 20-person technical team focused on research and expanding piloting capacity. The non-exclusive licensing model enables simultaneous engagement with multiple refineries, positioning the company for capital-light expansion. Following successful demonstration, Rio Tinto would negotiate a commercial license structured as production royalties, creating recurring revenue without requiring Geomega to fund plant construction. This partnership validates the technology for broader industry adoption across the global aluminum refining sector.Learn more: https://www.cruxinvestor.com/companies/geomega-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Mark Chalmers, President & CEO of Energy FuelsOur previous interview: https://www.cruxinvestor.com/posts/energy-fuels-nyseuuuu-us-critical-minerals-production-hub-7503Recording date: 8th October 2025Energy Fuels represents a uniquely positioned opportunity in the critical minerals sector, combining operational uranium production generating positive cash flow with strategic development of rare earth and heavy mineral sands assets addressing acute Western supply chain vulnerabilities. The company recently validated this strategy through a $700 million convertible bond offering completed in one week with Goldman Sachs as sole bookrunner, oversubscribed six to seven times at a remarkably low 0.75% interest rate.The investment thesis centers on several compelling factors. First, Energy Fuels operates the only conventional uranium mill in the United States with existing permits and infrastructure capable of processing radioactive monazite ore. This creates a significant competitive moat that would require competitors years and hundreds of millions of dollars to replicate. The White Mesa Mill in Utah provides operational flexibility to process either uranium (240,000 pounds per month capacity) or rare earths depending on market conditions, allowing management to optimize revenue generation dynamically.Second, the uranium business is currently cash flow positive and ramping toward two million pounds of annual production from 100% owned mines. Management projects this uranium revenue will generate sufficient cash to fund all corporate expenses plus rare earth and heavy mineral sands development without requiring ongoing equity dilution. This self-funding model distinguishes Energy Fuels from development-stage competitors who must continuously access capital markets. The White Mesa Mill restarted processing Pinyon Plain ore in early August 2025 and will run "well into next year," providing visible near-term cash generation.Third, Energy Fuels' strategic focus on monazite processing provides access to heavy rare earths—specifically dysprosium, terbium, and samarium—that MP Materials' bastnäsite deposits lack. These heavy rare earths are essential for high-performance permanent magnets used in electric vehicles, wind turbines, and defense applications. Critically, heavy rare earth prices currently command premiums three to four times higher than Chinese alternatives, while neodymium-praseodymium prices have surged from $55 to $85-90 per kilogram, reflecting strong demand for non-Chinese supply.Fourth, the company has tangible near-term development opportunities rather than aspirational long-term projects. The Donald rare earths project in Australia is fully permitted, shovel-ready, with capital costs estimated at $300 million and exceptionally high grades of heavy rare earths. Phase 1 would produce approximately 7,000 tons per year of monazite. The Phase 2 expansion at White Mesa would create processing capacity comparable to Lynas. Multiple feasibility studies on Toliara (Madagascar), Donald, and White Mesa Phase 2 are expected by year-end, providing updated development economics.Fifth, partnerships demonstrate downstream integration progress. POSCO collaboration has advanced to producing sintered magnet blocks being incorporated into electric vehicles in 2025. The company has engaged former General Motors personnel to assist with metal, alloy, and magnet development, showing serious commitment to building integrated non-China supply chain capabilities.The macro context amplifies the opportunity. China controls approximately 70% of global rare earth production and nearly 90% of processing capacity, while the United States imports more than 90% of its uranium. Western governments view these dependencies as national security risks, particularly as clean energy transition, transportation electrification, and defense modernization drive unprecedented critical minerals demand.Energy Fuels offers investors operational cash generation today funding strategic positioning in materials where Western supply chain security commands significant price premiums, backed by existing infrastructure, proven execution capability, and exceptional recent market validation through favorable institutional financing.View Energy Fuels' company profile: https://www.cruxinvestor.com/companies/energy-fuelsSign up for Crux Investor: https://cruxinvestor.com

with Derek Macpherson, Executive Chairman & Sam Pelaez, President & CEO of Olive Resource CapitalRecording date: 7th September 2025Olive Resource Capital delivered exceptional returns in September 2025, posting gains of 38-39% for the month and bringing year-to-date performance to 121%. The results significantly outpaced major commodity benchmarks, with both the GDX gold ETF and COPEX copper ETF gaining 20% during the same period.Executive Chairman Derek Macpherson and President Sam Pelaez attribute the outperformance to strategic positioning ahead of what they characterize as an emerging commodity bull market. Despite allocating only half of assets to precious metals, the fund achieved returns comparable to dedicated gold investment products while maintaining broader commodity exposure.A critical market dynamic highlighted during their discussion involves the relationship between equity and commodity performance. Gold equities outperformed the underlying commodity by approximately 4x in both August and September, with stocks gaining 20% monthly while gold itself advanced 5-7%. This pattern typically signals fresh capital entering the sector from generalist investors outside traditional commodity circles.The capital raising environment supports this assessment. Over $1 billion flowed into the sector in a single week, primarily toward pre-production projects. Financings exceeding $100 million generally indicate institutional participation, reflecting the capital-intensive nature of mining development.Management believes the bull market remains in early stages—approximately the "third inning" using a baseball analogy. Key drivers include central bank buying and US dollar weakness, with gold approaching $4,000 per ounce. Notably, the market has not yet exhibited the speculative excess characteristic of late-cycle behavior.The investment strategy focuses on continuous position reassessment rather than mechanical profit-taking. Management argues that companies posting strong results may actually be cheaper on a relative basis after gains, given improved fundamentals and higher commodity prices. They cite K92 Mining as an example: purchased at $6 with an initial $15 target, the stock now trades at $18 but may still be undervalued given doubled gold prices and significantly higher sector valuations.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Dr. Terry Christopher, President & CEO, Zonte MetalsRecording date: 7th October 2025Zonte Metals has spent seven years methodically building one of the most comprehensive datasets in Newfoundland's underexplored eastern copper terrain, and the junior explorer is now poised to test nine drill-ready targets at its Cross Hills Copper Project. Led by President and CEO Dr. Terry Christopher, a geochemist with over 30 years of industry experience and a track record of discoveries in Mexico, the company has transformed a grassroots exploration concept into an advanced iron-oxide-copper-gold (IOCG) play spanning 14,000 hectares.The company's patient, data-driven approach reflects the complexity of IOCG systems, which require understanding redox boundaries, structural controls, and geophysical signatures to effectively target mineralization. Rather than rushing into aggressive drilling, Zonte spent its first five years integrating ground gravity surveys, magnetics, alteration mapping, structural analysis, and multiple soil geochemistry techniques. This comprehensive surface work paid off in 2023-2024 when the company achieved proof-of-concept at its K6 target—the smallest of its nine prospects—successfully intersecting copper mineralization and validating the exploration methodology."K6 was proof that we're in a fertile copper system," Christopher explained. "If we hadn't hit on K6 then that would have changed the property."The gravity anomalies across Zonte's property show dimensions comparable to major global IOCG deposits like Prominent Hill in Australia (300 million tons at 0.9% copper) and La Calenderia in Chile (700 million tons at 0.5% copper). With copper prices returning above $5 per pound and electrification driving unprecedented demand, large-scale copper discoveries in stable jurisdictions are attracting premium attention from both institutional investors and major mining companies.Newfoundland's sixth-place global ranking for mining attractiveness, combined with the project's tidewater access, hydroelectric power, and paved road infrastructure, significantly reduces development risk. As Zonte enters its drilling phase, the company is pursuing non-dilutive financing options to test multiple targets while minimizing shareholder dilution—a strategic approach that could deliver multiple value inflection points as results emerge from nine distinct prospects.Learn more: https://www.cruxinvestor.com/companies/zonte-metalsSign up for Crux Investor: https://cruxinvestor.com

PREVIEW HEADLINE: The Buried Highly Enriched Uranium in Iran GUEST NAME: Andrea Stricker SUMMARY:John Batchelor speaks with Andrea Stricker about 60% enriched fissile material believed buried under sites like Fordow enrichment facility and Isfahan tunnels following a B-2 raid on Iran in June. Iran is currently excavating entrances. Israel particularly seeks to destroy this highly enriched uranium to prevent Iran from creating weapons-grade material. Retry

Interview with Ron Heeks, MD of Larvotto ResourcesOur previous interview: https://www.cruxinvestor.com/posts/larvotto-resources-asxlrv-advancing-high-grade-gold-antimony-project-in-nsw-australia-5758Recording date: 8th October 2025Larvotto Resources is advancing Australia's largest antimony-gold operation at Hillgrove, New South Wales, with production targeted for mid-2026 following an accelerated 8-month construction program. Managing Director Ron Heeks has structured a $150 million development leveraging inherited infrastructure acquired from administration, compressing what would typically require $300 million and multiple years into a capital-efficient restart. The project secured $100 million USD in bond financing and $60 million AUD equity, reflecting strong investor confidence in the operation's cash generation potential amid surging antimony prices.The Hillgrove development benefits from exceptional existing assets including 15 kilometers of underground development, a permitted processing plant, mains grid power, and proximity to Armidale, Australia's third most livable town. This infrastructure foundation enables a fully residential workforce, eliminating fly-in-fly-out costs while supporting local community integration. The 500,000-ton-per-annum processing facility will produce approximately 5,000 tons of antimony metal and 40,000 ounces of gold annually, translating to 140,000 gold-equivalent ounces with all-in sustaining costs of negative $2,000 per ounce at current metal prices.Antimony has emerged as the most critical strategic mineral following China's September 2024 export ban, with prices surging from $20,000 to over $60,000 per ton. The metal's defense applications in armor-piercing ammunition and night vision equipment, combined with solar panel manufacturing requirements, have created structural supply deficits that position Larvotto among fewer than five Western projects approaching near-term production. A strategic offtake agreement with Wogen Resources provides mine-gate pricing based on Rotterdam indices, transferring logistics complexity while maintaining full commodity price exposure. The conservative feasibility study economics modeled antimony at prices $20,000 below current levels, creating substantial margin upside that flows directly to cash generation given the byproduct credit accounting structure.Learn more: https://www.cruxinvestor.com/companies/larvotto-resources-limitedSign up for Crux Investor: https://cruxinvestor.com

Amir Adnani, CEO of Uranium Energy Corp. (UEC), explains why this is the most exciting uranium market he's ever seen… why uranium is critical to the AI growth trend… and why uranium prices could surge nearly 100%. In this episode: This is the most exciting uranium market Amir has ever seen [2:35] Uranium used to be a partisan issue—not anymore [5:12] Microsoft's Three Mile Island deal is an inflection point for AI [11:40] MSFT also joined the World Nuclear Association: Why it's a big deal [16:50] The U.S. uranium market is coming back with a vengeance [21:52] President Trump's energy agenda = a major tailwind for UEC [31:46] Why uranium prices could surge nearly 100% [36:53] Did you like this episode? Get more Wall Street Unplugged FREE each week in your inbox. Sign up here: https://curzio.me/syn_wsu Find Wall Street Unplugged podcast… --Curzio Research App: https://curzio.me/syn_app --iTunes: https://curzio.me/syn_wsu_i --Stitcher: https://curzio.me/syn_wsu_s --Website: https://curzio.me/syn_wsu_cat Follow Frank… X: https://curzio.me/syn_twt Facebook: https://curzio.me/syn_fb LinkedIn: https://curzio.me/syn_li

Interview with Richard Osmond, CEO of Element 29 ResourcesOur previous interview: https://www.cruxinvestor.com/posts/element-29-resources-tsxvecu-developing-the-next-major-copper-mine-in-peru-6293Recording date: 5th October 2025Element 29 Resources is advancing its Elida porphyry copper-molybdenum-silver project in Peru with about 14,000 meters of drilling completed and a maiden resource estimate published in 2022. The company aims to grow the initial 300 million tons resource to over 500 million tons through ongoing exploration. Recent magnetotelluric (MT) geophysical surveys have identified a hydrothermal alteration footprint exceeding six kilometers in strike length, which includes low resistivity anomalies at depth. These anomalies suggest the presence of a high-grade copper core that remains untested at around 1.5 kilometers below the surface.Element 29 has secured approximately $10 million in treasury, raised through $6.1 million in financing and $4 million from warrant exercises, to fund a 7,000-meter drill program. Drilling costs average $450-500 USD per meter. The project benefits from a five-year community access agreement and is expanding drill permits from 20 to 40 platforms ahead of Peru's 2026 election cycle. Peru's government has shown increased support for mining development after losing its position as the world's second-largest copper producer to the Democratic Republic of Congo.The Elida project displays favorable characteristics including a 4:1 strip ratio, an absence of a water table which reduces environmental liability, expectations of clean concentrate with no arsenic, and potential for transitioning from an open pit to underground mining. This transition could extend the mine life beyond the initial 15-year production timeline at 100,000 tons per day. The geological setting is defined by multiple mineralization phases within a porphyry intrusive complex, with late-stage sulfidation overprints upgrading the system and increasing grades at depth.The company's CEO, Richard Osmond, emphasizes the rarity of such discoveries today and the project's potential as a tier-one asset. The strategy focuses on resource expansion through systematic drilling and geophysical targeting, supported by Peru's improving regulatory environment and strong investment protections. Element 29 is positioning itself to deliver a de-risked copper asset that could satisfy major mining companies' requirements for large-scale, economically viable resources in world-class jurisdictions.Learn more: https://www.cruxinvestor.com/companies/element-29-resourcesSign up for Crux Investor: https://cruxinvestor.com

Canada must raise its level of ambition to compete in today's rapidly shifting geoeconomic and geopolitical landscape. So far on the podcast, we've focused on how diversifying oil and gas exports can strengthen Canada's power and influence. This week, we turn our attention to another strategic sector — mining. Our guest this week is Photinie Koutsavlis, Vice President of Economic Affairs and Climate Change at the Mining Association of Canada. She joins us to discuss the current state of Canada's mining industry. Here are some of the questions that Jackie and Peter asked Photinie Koutsavlis:  How large is Canada's mining sector, and what are its main products? Since the January 2020 announcement of the Canada–U.S. Joint Action Plan on Critical Minerals, what progress has been made on the ground? Has investment and production grown — and if not, what are the main barriers? Content referenced in this podcast: The Hub.ca, “Peter Tertzakian: Even if Alberta gets a new pipeline, what is next for the oil sands?” (October 4, 2025)Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/ Check us out on social media: X (Twitter): @arcenergyinstLinkedIn: @ARC Energy Research Institute Subscribe to ARC Energy Ideas PodcastApple PodcastsAmazon MusicSpotify

NAU Turning Point display table gets violently cleared off by a so called free speech proponent. Poll shows more people are willing to resort to violence for political change. Naked biker protests in Portland & why some states should split up. Angela breaks down the potential property taxes in Coconino County if a community college bond passes. Former AZ. AG Brnovich ambassadorship rejected by Trump Admin. 13 year old alleged wrong way drunk driving incident in Flagstaff. Uranium cleanup on Navajo Nation. Another hurricane to impact AZ. 

Interview with Blaine Monaghan, President & CEO of Pacific Ridge Exploration Ltd.Our previous interview: https://www.cruxinvestor.com/posts/pacific-ridge-exploration-tsxvpex-fiore-group-backing-fuels-250m-ton-copper-resource-push-7283Recording date: 3rd October 2025Pacific Ridge Exploration Limited (TSXV: PEX) is positioning itself to become British Columbia's leading copper exploration company at what management believes represents a significant valuation discount to peers. Trading at a $14 million market capitalization, the company recently reported its maiden resource estimate for the Kliyul project showing 334 million tons at 0.33% copper equivalent, containing 2.42 billion pounds copper equivalent. This includes 1.2 billion pounds of copper, 2.74 million ounces of gold, and 10 million ounces of silver.The company's trajectory shifted dramatically following a $3 million financing led by the Fiore Group in June 2025, which increased the market cap from $3 million to its current $14 million valuation. President and CEO Blaine Monaghan emphasized that this partnership provides critical validation from one of the strongest mining houses around, backed by billionaire capital and a strong technical team. The financing enabled Pacific Ridge to complete its resource estimate and execute drilling programs at both Kliyul and the RDP project.The Kliyul deposit offers several distinguishing characteristics. The mineralization is hosted in a single contiguous zone that remains open in multiple directions, representing just one target along a 6-kilometer mineralized trend with five additional poorly-tested targets. Monaghan articulated a strategy favoring new discoveries over incremental resource expansion, believing capital is better deployed testing untested targets that could dramatically increase overall project value.The RDP project, located 40 kilometers west of Kliyul, returned a standout intercept of 107 meters grading 1.4% copper equivalent in 2022 when under option to Antofagasta. With the project now back under company control, Pacific Ridge completed five drill holes totaling 2,100 meters in 2025, with copper sulfides intersected in all holes. Results remain pending and represent a significant near-term catalyst that management believes could drive substantial revaluation in the current favorable market environment for copper exploration.View Pacific Ridge Exploration's company profile: https://www.cruxinvestor.com/companies/pacific-ridge-explorationSign up for Crux Investor: https://cruxinvestor.com

Recording date: 2nd October 2025Welcome back to Compass, Olive Resource Capital's weekly markets and portfolio insights show, hosted by Derek MacPherson (Executive Chairman) and Sam Pelaez (President, CEO & CIO). Each week, we cut through the noise in mining and metals, highlighting the most important macro developments and drilling down into the companies shaping our portfolio.In this episode, we unpack a week of pivotal news for both major gold producers and junior explorers. At the very top of the market, Newmont and Barrick—two of the world's largest gold companies—announced leadership changes on the same day. Newmont's move was a planned succession from COO to CEO, signaling stability and continuity as the company enters a new phase of growth. Barrick, however, surprised the market with an interim appointment following the sudden departure of Mark Bristow. This contrast highlights the broader cycle shift from defensive, balance-sheet-focused leadership to growth-oriented CEOs ready to capitalise on a bull gold market.The coincidence of both announcements has reignited speculation about deeper industrial alignment. With Nevada Gold Mines and Pueblo Viejo already jointly operated, strategic synergies are clear. A combined or further integrated entity could also benefit from passive investment flows, with Newmont's S&P 500 inclusion forcing index-tracking funds to increase their exposure. While no deal has been announced, the industrial and financial rationale for closer alignment between Newmont and Barrick is stronger than ever.Beyond the majors, the week delivered extraordinary news from Olive's portfolio companies. Sterling Metals announced a discovery hole at its Soo Copper project in Ontario - 262 metres at 1% copper equivalent—re-rating the stock by more than 200% in a single day. Years of geological groundwork positioned the company for this success, underscoring the importance of disciplined preparation.Prospector Metals delivered another standout intercept: 44 metres at 13 g/t gold with 1.8% copper at its Mike Lake project. Shares surged nearly 280% and have held those gains. As part of the Discovery Group, Prospector demonstrated how systematic geological work and strong stewardship can unlock transformative discoveries.By contrast, Midnight Sun Mining illustrates the risk of overextended valuations. The company reported nearly 40 metres at .5% copper from its Dumbwa target in Zambia, yet shares fell around 20% as the market had already priced in perfection. The case highlights why entry point and expectations matter as much as geological success.The financing environment also shows renewed strength, with over C$100 million raised across juniors in the past week. With seasonal drill programs now underway, investors should expect a steady cadence of results through year-end. Majors may also lean further into M&A, project acceleration, and capital returns as gold prices remain near record highs.

Interview with CEO Darren BowdenOur previous interview: https://www.cruxinvestor.com/posts/metals-exploration-lsemtl-self-funded-nicaragua-gold-mine-targets-140k-oz-start-in-q4-2026-7323Recording date: 30th September 2025Metals Exploration presents a rare combination of near-term production growth and genuine exploration upside that makes it stand out in today's gold sector. With the Nicaragua project tracking ahead of schedule toward November 2026 first gold and the Philippines operation generating $110-120 million in annual cash flow, the company is executing a self-funded growth strategy that eliminates dilution risk while maintaining aggressive exploration programs.The Nicaragua build represents a transformational step-change for the company. All major equipment has been purchased, earthworks are complete, and the $160 million budget remains intact. More importantly, Nicaragua will produce 50% more ounces than the Philippines operation at roughly the same cost structure, bringing all-in sustaining costs down to $900-1000 per ounce. In an environment where many producers cite $1,400 as the new normal, this sub-$1,000 cost structure translates to 60%+ operating margins at current gold prices a genuine competitive advantage.What separates Metals Exploration from typical development stories is management's proven track record. Over six years, the Philippines operation has maintained just 2% annual cost growth versus industry averages of 10-15%. This isn't theoretical cost control it's demonstrated operational excellence that provides confidence in Nicaragua's projected economics.Beyond production growth, the exploration portfolio offers asymmetric upside. Dupax drilling begins immediately, targeting VMS mineralization that could feed existing permitted infrastructure. But the real company-maker potential lies at Abra, where copper-molybdenum and copper-gold porphyry targets sit in the Cordillera belt home to the Philippines' largest copper-gold deposits including the 40-million-ounce Far Southeast system. CEO Darren Bowden characterizes Nicaragua and Dupax as "forerunners to give us the cash" to develop Abra, the company's "white whale."For investors seeking operational excellence combined with tier-one discovery potential, Metals Exploration offers a compelling risk-reward profile. The strategy is elegant: proven cash flow funds patient exploration capital toward potentially transformational discoveries, all without equity dilution. That's increasingly rare in today's gold sector.Learn more: https://cruxinvestor.comSign up for Crux Investor: https://cruxinvestor.com

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Investing in Bizarro World Episodes: https://youtube.com/playlist?list=PLIAfIjKxr02sAztzlJNy1ug5bDvTVZkME&si=w2d_EF-B5jMo1dYD Subscribe to Investing In Bizarro World: @bizarroworld Editor's Note: We have been pounding the table on our performance in Private Placement Intel. The copper placement we did in July with Rick Rule and Jeff Phillips is already up 200% (with warrants to buy more). The uranium development deal we did last month is up 345% (with warrants to buy more). This week, we'll help finance a brand new gold development and exploration company that has a head-start thanks to an existing high-grade gold resource at its flagship property in the Yukon. We are participating in the IPO round this week. Learn more about Private Placement Intel here: https://bit.ly/4876ZAVThe free version of the 335th episode of Investing in Bizarro World is now published.Here's what was covered:Macro Musings - Gold and silver keep breaking higher. Silver blew through $45 and is setting up for a run to $48 and new all-time highs. Gold pushed past $3,750 and looks ready to challenge $3,800 on the way to $4,000–$5,000. Both metals have tailwinds from Fed rate cuts, strong economic growth, and continued central bank buying. Meanwhile, the dollar is firming and bond yields are ticking higher. That points to rising risks—including black swan military chatter out of Washington—but gold and silver don't seem to care.Market Takes - Copper grabbed headlines after a tragic accident at Freeport's Grasberg mine cut production. That mine represents about 3% of global output, and the disruption could tip this year's market into deficit. Copper prices jumped, and Ivanhoe Mines has already rallied 25% since July as investors repositioned into names with growth ahead. Craig Perry of Vizsla Copper has even argued that $30–$35 copper is possible down the line. Nick and Gerardo don't need that to make money — $7–$8 copper in the next year is more than enough. Lithium Americas soared 125% this week after the Trump administration said it may take a 10% stake in the company's Nevada project. That followed a $2.3 billion government loan under Biden and highlights a trend of resource nationalism across lithium, antimony, rare earths, and more. Uranium also broke out, hitting $82 per pound. The URA ETF is up 50% in just six weeks. Major producers like Cameco and Kazatomprom have guided down, while U.S. policy is moving to expand the strategic uranium reserve. Small explorers are doubling with little news as utilities prepare to contract supply.Bizarro Banter - Politics again proved bizarre. Trump's subsidies to farmers were called what they are—welfare—despite the loud denials of those who voted for him. His second term is shaping up much like his first: weaker dollar, more debt, more war, and broken promises. Meanwhile, the Epstein scandal continues without closure for victims, even as culture-war distractions dominate headlines. Gerardo and Nick reminded listeners to keep pressure on real issues of accountability.Premium Portfolio Picks - For paid listeners only. Subscribe here: https://bit.ly/4mEL1c00:00 Introduction1:25 Macro Musings: Gold and Silver Surge. Dollar Strength. Black Swan Risks.9:18 Market Takes: Copper Supply Shock. Lithium Nationalism. Uranium Breakout.25:23 Bizarro Banter: Farm Welfare. Trump Promises. Epstein Cover-Ups.39:49 Premium Portfolio Picks: High-Leverage Gold Explorer. Undervalued Silver Junior. (You need to subscribe to Bizarro World Live to get this section) Subscribe here: https://bit.ly/4mEL1c0PLEASE NOTE: There are now two versions of this podcast.1. Bizarro World Live — Pay $2 per episode to watch us record the podcast live every Thursday and get Premium Portfolio Picks every week. Plus an archive of all premium episodes. Subscribe here: https://bit.ly/4mEL1c02. Bizarro World Free — Published the Monday after the live recording with no Premium Portfolio Picks.Visit our website Daily Profit Cycle for more content like this and more! https://dailyprofitcycle.com/

Investing in Bizarro World Episodes: https://youtube.com/playlist?list=PLIAfIjKxr02sAztzlJNy1ug5bDvTVZkME&si=w2d_EF-B5jMo1dYD Subscribe to Investing In Bizarro World: @bizarroworld Editor's Note: In June, we did a gold private placement that's already up 95%. In July, we did a copper placement that's already up 393%. In August, we did a uranium deal that's already up 260%. We have warrants in all three deals that are already in-the-money. A new Private Placement Intel deal is open for September. It's high-grade gold and lithium in the US, being drilled right now. Secure your discounted spot before the deal closes on September 10th. Click here: https://bit.ly/4pscssq Or call Jimmy Mengel in Customer Experience at 844-334-4700. —NickMark your calendar: The New Orleans 2025 Investment Conference is almost here.Click here for details: https://neworleansconference.com/hodge/The free version of the 333rd episode of Investing in Bizarro World is now published.Here's what was covered:Macro Musings - Flying solo this week, Nick dove into the bond market, the dollar, and gold. The 10-year yield trends down as the Fed readies a likely September cut, while the 30-year pushes higher — signaling growth ahead despite short-term easing. A weak dollar and lower short yields are tailwinds for gold, which hit fresh record highs near $3,600/oz. Stocks remain near all-time highs, but September seasonality could bring turbulence. Political interference at the Fed looms as Trump threatens Powell's job and hints at dovish replacements.Market Takes - Nick stepped back to trace his career from clean energy beginnings in 2007 through the financial crisis and into resources. The throughline: real things matter. Key themes now:Uranium — Essential for AI-driven electricity demand, nuclear is resurging globally. U.S. needs ~50M lbs annually but produces only ~1M. Trump is fast-tracking projects like Dewey Burdock, where Nick first financed Azarga in 2017 before its Encore buyout.Copper — Added to the U.S. critical minerals list, with a Section 232 investigation underway. Supply deficits and Trump's tariff missteps highlight America's dependence on imports. Projects like Resolution in Arizona show how permitting delays hamper supply.Rare Earths — Déjà vu from 2010–11. China's threats and U.S. inaction left dependence intact. Now MP Materials and recyclers are surging, with government support and Apple partnerships underscoring urgency.Together, these metals — uranium, copper, and rare earths — remain the backbone of energy, defense, and technology.Bizarro Banter - Politics turned local this week. Nick detailed Spokane's deepening homeless crisis and the political dysfunction surrounding Proposition 1, which 75% of voters supported to ban street camping. Instead of honoring the vote, the mayor and city council watered it down and allegedly used late-night threats to sway votes. An ethics investigation is underway, but the press is silent. For Nick, it's a microcosm of U.S. politics: leaders defying the will of the people, prioritizing agendas over democracy. The lesson: remain independent, own assets, and recognize that all politics is local.Premium Portfolio Picks - For paid listeners only. Subscribe here: https://bit.ly/4ndN5s80:00 Introduction3:04 Macro Musings: Bond Yields Diverge. Weak Dollars. Fed's Independence.7:33 Market Takes: Real Things Matter. Critical Minerals. Private Placements. 31:02 Bizarro Banter: Politics Are Local. Will of People. Spokane Homeless 38:14 Premium Portfolio Picks: Protein Play. Gold-Copper Driller. Prospect Generator. (You need to subscribe to Bizarro World Live to get this section) Subscribe here: https://bit.ly/4ndN5s8PLEASE NOTE: There are now two versions of this podcast. 1. Bizarro World Live — Pay $2 per episode to watch us record the podcast live every Thursday and get Premium Portfolio Picks every week. Plus an archive of all premium episodes. Subscribe here: https://bit.ly/4ndN5s82. Bizarro World Free — Published the Monday after the live recording with no Premium Portfolio Picks.Visit our website Daily Profit Cycle for more content like this and more! https://dailyprofitcycle.com/

Interview with Gerald Panneton, Executive Chairman of Gold Terra Resource Corp.Our previous interview: https://www.cruxinvestor.com/posts/gold-terra-resource-tsxvygt-leveraging-rising-gold-prices-with-high-grade-yellowknife-project-6315Recording date: 25th September 2025Gold Terra Resources Corporation (TSXV:YGT) is advancing its Yellowknife gold project in Canada's Northwest Territories, capitalizing on dramatically improved economics driven by gold's rise to $3,750 per ounce. Executive Chairman Gerald Panneton sees significant opportunity to revitalize the historically productive mining district, which was shuttered in 2003 when gold traded at just $340 per ounce.The company has outlined 1.8 million ounces of combined indicated and inferred resources, with a strategic focus on 540,000 near-surface ounces in the Yellorex zone that can be accessed via ramp development within 3-4 years. This approach prioritizes cash flow generation over the more capital-intensive deep underground mining that characterized the original operation.Gold Terra's competitive advantage centers on the Con Mine, a cornerstone asset featuring existing mining lease and surface rights that could reduce permitting timelines from the typical 10-15 years for greenfield projects to approximately one year. "The biggest advantage Gold Terra has with the Con mine as a cornerstone property is that [they have] the mining lease and the surface rights," Panneton explained.Third-party validation came through OR Royalties' $2 million investment to increase their NSR royalty from 1% to 2%, with an option for additional investment to reach 3%. The endorsement followed an in-depth technical review, providing external confirmation of the project's potential.Current gold prices have transformed project economics, enabling potential cutoff grade reductions that could expand the Yellorex zone from 540,000 to 700,000 ounces. Management targets completing a resource update and preliminary economic assessment within 6-12 months, aiming to finalize the Newmont acquisition by 2026.With $3 million in treasury and improved market conditions, Gold Terra enters a critical development phase positioned to leverage both existing infrastructure advantages and gold's structural bull market through disciplined, phased development focused on near-term production potential.View Gold Terra's company profile: https://www.cruxinvestor.com/companies/gold-terra-resource-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Rebecca Hunter, CEO of Geiger EnergyRecording date: 26th September 2025Geiger Energy represents a significant consolidation in Canada's uranium exploration sector, formed through the merger of Baslode Energy and Forum Energy Metals in 2025. The combined entity positions itself across two premier uranium districts: Nunavut's Thelon Basin and Saskatchewan's Athabasca Basin analog, creating a year-round exploration platform under experienced leadership.Rebecca Hunter, the company's President and CEO, brings 11 years of Cameco Corporation experience to the role, including direct involvement with the Thelon project during the pre-Fukushima uranium cycle. Her institutional knowledge proves critical as Geiger advances its flagship Aberdeen project, which encompasses 50+ targets adjacent to Orano's 133 million pound uranium deposit.The recent Loki discovery marks a watershed moment for Thelon Basin exploration. "What's exciting about the Loki deposit is that it has sandstone. This year we drilled it and found even more elevated uranium in the sandstone and mineralization at the unconformity," Hunter explains. This represents the first evidence of unconformity-style mineralization in a region historically dominated by basement-hosted deposits, potentially validating the basin's capacity to host world-class uranium systems similar to Saskatchewan's MacArthur River and Cigar Lake mines.Geiger's dual-basin strategy leverages complementary seasonal operating windows. Aberdeen operations run during Nunavut's four-month summer season, while the Hook-ACKIO project in Saskatchewan enables winter drilling programs. This approach maximizes capital efficiency and maintains continuous news flow for investors.The company emerges with robust financial backing, maintaining approximately $6 million in working capital following Baslode's $10 million contribution and an additional $6 million raise. This positions Geiger to execute sustained exploration programs across both flagship assets while maintaining operational flexibility in volatile uranium markets.Hunter emphasizes the strategic focus: "You want to pick one or two really good projects that have that capability. For us, the Aberdeen project is that. We've got a whole district basically to ourselves with really good ground where we think that we could find one of these high-tonnage, high-grade discoveries."View Geiger Energy's company profile: https://www.cruxinvestor.com/companies/geiger-energySign up for Crux Investor: https://cruxinvestor.com

Interview with George Bennett, CEO of Rainbow Rare EarthsRecording date: 26th September 2025Rainbow Rare Earths (LSE:RBW) is pioneering a revolutionary approach to rare earth element extraction that addresses both economic efficiency and Western supply chain independence. Led by CEO George Bennett, a seasoned executive with 16 years of investment banking experience and a proven track record of scaling mining operations, the company extracts valuable rare earth materials from phosphogypsum waste rather than traditional hard rock mining.The company's proprietary technology eliminates conventional mining costs including drilling, blasting, and crushing operations, resulting in projected EBITDA margins exceeding 75% and internal rates of return between 45-50%. "We've got no mining costs, we are extracting the RE out of phosphogypsum which is a waste residue," Bennett explains, highlighting the fundamental cost advantage over traditional rare earth projects.Rainbow operates two strategic assets: the flagship Phalaborwa project in South Africa, where the company holds 85% ownership with 35 million tons of high-grade material, and the Uberaba project in Brazil through a 50/50 joint venture with Mosaic, a $15 billion fertilizer company. Both projects leverage existing brownfield infrastructure and provide environmental benefits through waste remediation.The company has secured significant validation through a $50 million equity commitment from the US Development Finance Corporation, positioning the US government as a future project shareholder. This strategic backing, combined with recent floor pricing of $110/kg for neodymium and praseodymium established by MP Materials' Department of Defense contract, provides crucial market stability for Rainbow's revenue streams.With total capital requirements of $300 million and production targeted for 2027-2028, Rainbow is positioned to capitalize on surging demand from electric vehicles, defense applications, and the emerging robotics sector. The company addresses critical Western supply chain vulnerabilities while China controls 95% of global rare earth processing capacity, making Rainbow a compelling investment in the transition toward strategic mineral independence.View Rainbow Rare Earths' company profile: https://www.cruxinvestor.com/companies/rainbow-rare-earthsSign up for Crux Investor: https://cruxinvestor.com

Ben Elvidge, Product Lead of xU3O8, believes that structural tightness in the uranium market, driven by years of underinvestment and exacerbated by a bifurcating geopolitical landscape, is meeting an ever-growing demand side being ignited by a growing nuclear renaissance unlike anything the world has seen and creating a perfect storm for prices to rise much higher. Ben also dives into xU3O8, a digital platform that facilitates retail purchasing and trading of physical uranium, along with their latest innovation: the world's first live uranium spot price oracle.Buy Uranium With xU3O8: https://uranium.ioLive Price Oracle: https://price.uranium.ioFollow xU3O8 on X: https://x.com/uranium_ioDisclaimer: Commodity Culture was compensated by xU3O8 for producing this interview. 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

The Real Big Move in Uranium Hasn't Even Started Yet Company's Mentioned CHRISTIE GROUP #CTG ITIM GROUP #ITIM SPECTRA SYSƒTEMS #SPSY WATER INTELLIGENCE #WATR EVERY MICRO & SMALL CAP COMPANY YOU HEAR ON THIS PODCAST IS PROFITABLE UNLESS I STATE OTHERWISE (IN WHICH CASE THEY ARE FORECAST TO BECOME PROFITABLE IN THE NEXT 12 MONTHS) ***** About The SharePickers Investment Club ***** The SharePickers Investment Club employs a unique, systematic method to uncover small, profitable companies on the London Stock Exchange.  Each potential investment undergoes comprehensive analysis and is evaluated against 15 crucial financial metrics.  This fact-based, quantitative approach allows us to pinpoint high-potential growth businesses and deliver consistent results, bypassing the hype and focusing on the numbers.  *****MY BOOK ***** How to Become a MicroCap Millionaire - A 3 Step Strategy for Stock Market Success  Is now on sale here: https://www.sharepickers.com/how-to-become-a-microcap-millionaire-3-step-strategy/ !!!IF YOU BUY THE BOOK YOU CAN GET 25% OFF MEMBERSHIP TO THE SHAREPICKERS INVESTMENT CLUB!!! HOW? If you buy a copy of the book, then like it enough to leave a 5 star rating & write a positive review, you can get yearly membership to the SharePickers Investment Club for just  £149!!! THIS IS £2.88 WEEK - LESS THAN: HALF A PINT OF BEER A BATTERED JUMBO SAUSAGE FROM THE CHIPPY HALF THE AMOUNT A PERSON SPENDS ON CHOCOLATE LESS THAN A LATTE FROM STARBUCKS ONE FEEDS YOUR MIND THE OTHERS FEEDS YOUR BELLY. —---------------------------------------------------------------------- In this podcast I cover the Microcap News to see if they're good enough to be added to the MicroCap League. The UK's first MicroCap League where 100's of small businesses are analysed and scored in relation to their growth, value, health, efficiency, momentum & potential. The companies that score the highest are added to the MicroCap League and possess the best risk / reward profile. —---------------------------------------------------------------------- If you regularly listen to this podcast and value its content, it's a free resource, so please consider paying back in kind by giving it a 5 star rating and review. That way more people will find it. Thank you!

Interview with Dustin Perry, CEO of Kingfisher Metals Our previous interview: https://www.cruxinvestor.com/posts/gold-navigating-the-investment-opportunities-and-understanding-the-risks-5527Recording date: 24th September 2025Kingfisher Metals has positioned itself as a dominant force in British Columbia's Golden Triangle, assembling the largest contiguous land package among junior explorers at 850 square kilometers. Under CEO Dustin Perry's leadership, the company operates in Canada's most prolific copper-gold region, home to the highest-grade gold mine at Brucejack and the world's largest undeveloped gold deposit at KSM.Recent exploration success validates the company's systematic approach. The 2025 program delivered 234 meters grading 1% copper equivalent and identified a new porphyry system at Hank target. Perry describes this discovery as having "all the early stage indications that we're on to a very large deposit." The breakthrough resulted from methodical target generation by a team with proven experience at KSM, Red Chris, and the successful GT Gold project.Strategic advantages differentiate Kingfisher from regional competitors. Properties sit just 12 kilometers from highway infrastructure with favorable topography, lower elevation, and reduced environmental complications. Perry notes the location benefits: "You don't need to find something that good to make it very economical where we are given the location." The company avoids salmon river conflicts that plague other regional projects while maintaining proximity to power infrastructure.Financial backing strengthens the exploration runway through a $11 million financing completed in May 2025. Ashwath Mehra, founding partner of Glencore and former GT Gold executive chairman, leads the advisory board while institutional investors provide patient capital for multi-year programs.The investment thesis centers on statistical probability across extensive prospective terrain surrounded by major operators Teck, Anglo American, and Newmont. Recent $750 million commitments to adjacent Galore Creek and Schaft Creek projects, located further from infrastructure, create acquisition potential for infrastructure-advantaged discoveries. Perry's long-term vision follows the GT Gold model, targeting systematic exploration leading to discovery and ultimate major company acquisition within three years.Learn more: https://www.cruxinvestor.com/companies/kingfisher-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with Jean Lafleur, Technical Adviser, Lafleur MineralsOur previous interview: https://www.cruxinvestor.com/posts/lafleur-minerals-cse-lflr-positioning-for-near-term-gold-production-7636Recording date: 24th September 2025Lafleur Minerals is emerging as a unique player in Quebec's gold sector by combining operational infrastructure with a growing mineral base in the prolific Val-d'Or camp. At the heart of its strategy is the fully permitted Beacon Mill, a 500-750 ton per day processing facility located near Val-d'Or. Unlike competitors who must wait years for permitting and construction, Lafleur can restart operations for just $5-6 million, with expected gold recovery rates exceeding 97%. This operational advantage not only provides immediate revenue opportunities through toll milling but also underpins the company's acquisition strategy of targeting smaller deposits within a 100-kilometer radius—resources that larger producers typically overlook.The company's flagship Swanson gold project is undergoing an ambitious expansion under the guidance of Technical Adviser Jean Lafleur. Recent drilling has expanded the property's size five to six times, confirming mineralization across a strike length of more than two kilometers. Geological analysis highlights an orogenic gold system with both classic quartz vein mineralization and sulfide-rich zones, offering near-surface, open-pit potential. The company is targeting a 500,000 to 1 million ounce resource, positioning Swanson as a key growth driver alongside the mill.High gold prices exceeding $3,600 per ounce create especially favorable conditions for Lafleur's model. With infrastructure already in place, near-surface deposits, and a scalable milling capacity, the company can generate cash flow faster and at lower cost than traditional exploration-driven peers. By leveraging its mill, Lafleur can build a pipeline of deposits—historical mines, new discoveries, or neighboring properties—to secure long-term feed and multi-year production horizons.Backed by Jean Lafleur's decades of geological experience and the established logistics of Val-d'Or, Lafleur Minerals is positioned not only as an exploration company but as a vertically integrated developer with immediate revenue potential and a clear growth trajectory in Canada's most prolific gold camp.Learn more: https://www.cruxinvestor.com/companies/lafleur-mineralsSign up for Crux Investor: https://cruxinvestor.com

Sep 26, 2025 – Curious about the future of uranium and nuclear energy markets? Uranium and nuclear analyst Mart Wolbert discusses the recent move by the US to establish a strategic uranium reserve to shift away from Russian dependency...

Interview with Ben Pullinger, President & CEO of ATEX Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/atex-resources-tsxvatx-resource-update-coming-after-exceptional-phase-five-drill-results-6808Recording date: 25th September 2025ATEX Resources (TSXV: ATX) has positioned itself as a leading copper development story following the successful completion of its resource update and a strategic $21 million land acquisition. The company's Valeriano project in Chile has achieved management's guidance target of 2 billion tons at 0.78% copper equivalent grade, with 24% of the resource now classified in the higher-confidence indicated category.The resource achievement represents significant progress from the company's initial geological understanding. Through systematic drilling that expanded from 22,000 meters in 2023 to 51,000 meters currently, ATEX has evolved its geological model from a conceptual three-finger framework to a comprehensive understanding of a continuous granodioritic porphyry core representing nearly one billion tons, complemented by substantial wall rock mineralization.Central to ATEX's development strategy is the B2B zone, which delivered 30 million tons at 1.36% copper equivalent grade within just one year of drilling. This higher-grade zone forms the foundation for a potential starter operation that could provide early cash flow and achieve payback periods of 2-3 years, addressing the capital intensity challenges typical of large-scale copper projects.The company's $21 million acquisition of 14,500 hectares of surface rights eliminates critical development risks by providing complete control over surface access and water rights. This strategic investment removes permitting uncertainties and reduces operational costs, particularly for water procurement and trucking expenses.ATEX has distinguished itself through exceptional exploration efficiency, achieving a discovery cost of half a penny per pound of copper in the ground—efficiency levels not observed since the early 1990s. This performance reflects both the deployment of advanced directional drilling techniques and the inherently well-behaved geological characteristics of the Valeriano deposit.With over $20 million in cash and $52 million in callable warrants, ATEX maintains a strong financial position to execute its Phase 6 drilling program while benefiting from favorable copper market dynamics driven by global supply constraints and increasing electrification demand.View ATEX Resources' company profile: https://www.cruxinvestor.com/companies/atex-resources-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Maura Kolb,  President of Dryden Gold Our previous interview: https://www.cruxinvestor.com/posts/dryden-gold-tsxvdry-58m-drill-campaign-funded-by-strategic-investment-6644Recording date: 23rd September 2025Dryden Gold Corporation has emerged as a compelling exploration opportunity in northwestern Ontario's proven mining district, combining institutional validation with operational excellence to develop what appears to be a significant district-scale gold system. The company's methodical approach has attracted strategic investment from Centerra Gold, which maintains a 9.9% ownership position and provides crucial third-party validation of the exploration thesis.Under President Maura Kolb's leadership, Dryden Gold has achieved remarkable operational efficiency with industry-leading drilling costs at $200 CAD all-in, significantly below peer averages. This cost advantage stems from strategic partnerships with Winnipeg-based contractors and local expertise development, supporting the company's growth to 10 employees with dedicated core facilities across their 70,000-hectare land package.The flagship Gold Rock target exemplifies the company's systematic geological approach, evolving from three initial structures to dozens of high-grade intersection targets within a concentrated 1km x 1km footprint. This evolution has fundamentally changed mining scenarios from underground-only to potential open-pit development through the identification of stacked structures and multiple deformation events.Regional exploration has revealed an 8km strike length pattern comparable to Red Lake's 28 million ounce endowment, with newly identified targets at Mud Lake showing similar mineralization to Gold Rock. Recent drilling at these regional targets suggests the emergence of a true district-scale opportunity rather than isolated deposits.Financially, Dryden Gold maintains strong liquidity with a recent $7.8 million raise funding 20-25,000 meters of additional drilling, while $11.5 million in warrants at $0.30 now in-the-money provide potential non-dilutive financing. Approximately two-thirds of results from recent drilling campaigns remain unreported, creating multiple near-term catalysts.The company explicitly targets eventual merger and acquisition activity, with Kolb stating: "The endgame is M&A. So we're shopping for our future buyout really with these major companies." This strategic positioning, combined with institutional backing and expanding resource potential, creates compelling risk-adjusted exposure to both organic growth and consolidation opportunities in the strengthening gold sector.Learn more: https://www.cruxinvestor.com/companies/dryden-goldSign up for Crux Investor: https://cruxinvestor.com

In the first half of the show, Trevor and Justin dive into the latest developments in the uranium market. Fresh off a trip to the World Nuclear Association's 50th-anniversary conference in London, Justin shares his key takeaways from the event, which saw record attendance and overwhelmingly positive sentiment from producers, utilities, and banks alike. Both discuss how the market focus has shifted decisively back to uranium after years of concentrating on conversion and enrichment services. They break down the recent surge in the uranium spot price.For the second segment, Trevor and Justin are joined by a special guest, Pat O'Brien, Director of Government Affairs at Holtec. Pat gives an inside look at Holtec's groundbreaking project to restart the Palisades nuclear power plant in Michigan, which is poised to be the first US nuclear plant ever to be brought back online after a permanent shutdown. The restart project is on track to be completed "on time and under budget" thanks to a combination of private funding, $300 million in state grants, and a $1.52 billion loan from the Department of Energy.

Interview with Petek Akerley, President & CEO of Erdene Resources DevelopmentOur previous interview: https://www.cruxinvestor.com/posts/erdene-resource-development-tsxerd-mongolia-gold-mine-98-complete-first-pour-september-2025-7357Recording date: 23rd September 2025Erdene Resource Development represents a compelling transition story within the gold mining sector, having successfully achieved first production while maintaining substantial growth optionality across a district-scale asset base in Mongolia. The company's September 2025 first gold pour from Bayan Khundii marks the culmination of systematic development efforts and positions the operation for sustained cash flow generation through favorable metallurgical characteristics and operational efficiency.The technical foundation supporting Erdene's investment proposition centers on exceptional deposit characteristics that translate directly to operational advantages. Bayan Khundii's 93-95% gold recovery rates using conventional processing technology, combined with low cyanide consumption and minimal sulfide content, position the operation favorably within industry cost curves. This operational efficiency becomes particularly valuable during periods of input cost inflation, providing margin protection and cash flow stability that supports both debt service and growth investment.The company's financial trajectory offers clear value creation milestones for investors. Current debt levels of $110 million are projected for retirement by mid-2026 through operational cash flows, eliminating the 13.8% financing costs and providing increased flexibility for expansion capital allocation. The 50-50 joint venture structure with Mongolian Mining Corporation provides operational stability and local expertise while maintaining strategic control through unanimous decision-making processes.Near-term growth catalysts focus on high-probability, infrastructure-leveraged expansion opportunities. The Bayan Khundii pit extension program targets an additional 150,000 ounces through westward and southward drilling, potentially increasing total reserves by 30% with minimal additional permitting requirements. The Dark Horse deposit, located 2.5 kilometers from existing operations, contains 50,000 ounces of high-grade surface mineralization amenable to alternative processing routes, including potential heap leach operations that could complement existing capacity.District-scale development potential extends the investment timeline beyond immediate expansion scenarios. The Altan Nar polymetallic project, containing 500,000 gold equivalent ounces across a 5-kilometer trend, represents a second development phase that could double production profiles to 200,000-250,000 ounces annually. The $7 million exploration budget allocated for 2026 targets systematic resource definition across this portfolio, focusing on near-surface opportunities that minimize development risks and capital requirements.Strategic diversification through the Zuun Mod molybdenum project provides exposure to industrial metals markets experiencing supply deficits, particularly within Chinese demand centers. This asset optionality offers portfolio balance and potential value realization through alternative development scenarios or strategic partnerships.The company's recent 6-for-1 share consolidation reflects management recognition of evolving institutional investor requirements as the company transitions from developer to producer status. This corporate action, combined with improving operational metrics and cash flow generation, positions Erdene for potential producer re-rating as institutional recognition expands.Erdene's positioning within current gold market dynamics appears particularly advantageous given the combination of immediate production cash flows and substantial expansion potential. The operational excellence demonstrated through successful startup, coupled with systematic approach to resource expansion across multiple deposits, suggests sustained value creation potential within Mongolia's established mining jurisdiction. The clear debt reduction timeline and aggressive exploration programs targeting near-surface extensions provide investors with both current income exposure and future growth optionality within a single investment vehicle.View Erdene Resource Development's company profile: https://www.cruxinvestor.com/companies/erdene-resource-developmentSign up for Crux Investor: https://cruxinvestor.com

Interview with Alan Carter, President & CEO of Cabral Gold Inc.Our previous interview: https://www.cruxinvestor.com/posts/cabral-gold-tsxvcbr-meet-the-team-john-sestan-7696Recording date: 23rd September 2025Cabral Gold Corporation is positioning itself to capitalize on record gold prices with its Cuiú Cuiú gold project in northern Brazil, featuring 1.2 million ounces of inferred and indicated resources across an entire mining district. The company has completed a pre-feasibility study for a starter operation requiring less than $40 million in capital expenditure with an impressive 12-month construction timeline.The project's economics have become exceptionally attractive in the current gold market environment. With all-in sustaining costs projected at $1,200 per ounce and gold trading above $2,600, the operation generates approximately $2,500 profit per ounce pre-tax. This translates to a remarkable five-month payback period on the initial capital investment, making it one of the most attractive development opportunities in the gold sector.Cabral has structured its development around proven heap leaching technology using a rotating pad system that prioritizes operational flexibility over cost optimization. The company will operate four heaps on a 120-day cycle, allowing for process adjustments between cycles to ensure production consistency and reduce technical risks.Three drill rigs are actively exploring across the district, targeting a doubling of current resources within 12-18 months. Recent high-grade results include 11 meters at 33 grams per tonne and 39 meters at 5.1 grams per tonne, demonstrating the district's continued potential. The project encompasses four new discoveries plus approximately 50 additional targets that have shown encouraging gold values.The project benefits significantly from its location adjacent to Brazil's third-largest gold mine, Tocantinzinho, which produces 200,000 ounces annually. Historical data indicates the Cuiú Cuiú area produced ten times more placer gold than the Tocantinzinho area, suggesting superior geological endowment across the district.Construction financing discussions are at advanced stages, with management expecting news within weeks regarding debt financing arrangements that will fund the majority of the capital requirements.View Cabral Gold's company profile: https://www.cruxinvestor.com/companies/cabral-goldSign up for Crux Investor: https://cruxinvestor.com

Nick Hodge, Co-Owner of Digest Publishing and editor of Foundational Profits and Hodge Family Office, joins us for a longer-format discussion on and the macroeconomic themes and fundamental value drivers that that are presenting catalyst-driven opportunities in select gold, silver, lithium, and uranium stocks.   We start off reviewing how the Fed's first rate cut in 9 months, here during the month of September, and that sticky and rising inflation has been a key tailwind for reflationary trends in US equities, cryptos, and the commodities sectors. Nick points out, once again, that real assets are moving higher in response.  Despite the melt up we've seen in many metals resource stocks, Nick goes on to outline where there are still opportunities in companies that have solid work programs and news catalysts on the horizon in the precious metals stocks, and that there are still many positive macro policy factors providing tailwinds to critical minerals like copper, rare earths, and antimony, and energy metals like lithium and uranium.   Nick highlights a few gold and silver companies that have had news catalysts driving their charts higher like recent high-grade silver equivalent results returned in the initial drill results from Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF), and the compelling market cap gulf between the earlier stage Daura Gold Corp. (TSXV: DGC) exploring adjacent on the same mineralized trend to the more richly valued Highlander Silver Corp. (TSX:HSLV) in Peru.     Next, we revisited the point Nick has made in prior discussions that the lithium space presented a “buy the dip” moment a few months back, and that both the underlying metals price and the related equities have bounced and started a trajectory higher.  He also pointed to the doubling of the stock price this week in Lithium Americas Corp. (TSX: LAC) (NYSE: LAC), on the back of media reports pertaining to the status of its previously announced $2.26 billion loan from the U.S. Department of Energy (“DOE”).   Shifting over to the nuclear power and uranium tailwinds from the government fiscal bills and executive orders passed the last few years have had provisions in them for accelerating the development of nuclear power infrastructure and uranium mining. Just this month we saw more comments from the US administration on creating a strategic uranium reserve and this has sent the prices of North American uranium stocks even higher, as they've been in a multi-month rally coming off the April sector lows. Nick highlights the prior trading opportunity he brought to listens attention a few months back in the Sprott Junior Uranium Miners ETF (URNJ) as one that has worked out nicely.   Nick also flagged uranium companies like Energy Fuels Inc. (TSX: EFR) (NYSE American: UUUU), enCore Energy Corp. (NASDAQ: EU) (TSXV: EU), Uranium Energy Corp (NYSE American: UEC), North Shore Uranium Ltd. (TSXV:NSU), Denison Mines Corp (TSX: DML) (NYSE American: DNN), and Cosa Resources Corp. (TSXV: COSA) (OTCQB: COSAF) (FSE: SSKU) as different stages of uranium companies that are doing good work to advance their projects, which continue to have his attention.   Wrapping up Nick shares the technical innovation in the mining sector and value proposition he sees in  MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) a leading provider of digital supply chain solutions for the commodity markets.  He points out his it is valuable to banks, to traders, to exchanges, to metals producers, to exporters, to importers, to smelters to provide big data and assurances of supply chains.  This opens up a number of lucrative avenues for helping the resource sector, materials space, and manufacturing industries by leveraging this technology, and it is already attracting major partners.   Click here to follow Nick's analysis and publications over at Digest Publishing   For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com Investment Disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

We're joined by Garrett Ainsworth, President & CEO of District Metals (TSX-V: DMX - OTCQB: DMXCF - Nasdaq First North: DMXSE SDB), to discuss the latest results from airborne Mobile MT surveys at the Viken Property in Sweden, one of the largest uranium deposits in the world. Garrett explains how these surveys confirmed the known Viken deposit and identified nine new high-priority target areas - with three of them showing even stronger geophysical signatures than Viken itself. Key discussion points include: How Mobile MT surveys validate the Viken deposit through a one-to-one correlation with historic drilling. Nine new target zones discovered, with 6 emerging as the most prospective. Shallow, near-surface potential - many targets appear at ~100m depth or less. Scalability of the alum shale system, where limited drilling could quickly define significant tonnage. Exploration and news flow ahead, including further survey results from other Swedish projects. Garrett also shares perspective on Sweden's pending uranium moratorium lift, expected in late 2025, which would unlock the path to drilling and advancing these discoveries.   ---------------------- For more market commentary & interview summaries, subscribe to our Substacks: The KE Report: https://kereport.substack.com/ Shad's resource market commentary: https://excelsiorprosperity.substack.com/ Investment disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Investing in equities and commodities involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

Stijn Schmitz welcomes Jeff Phillips to the show. Jeff Phillips is Private Investor & President, Global Market Development. Phillips discusses his extensive experience in the natural resource market, having witnessed three bull markets over his 30-year career. He believes the current market may be entering a significant commodity super cycle driven by multiple factors, including currency devaluation, under-investment in resource exploration, and geopolitical shifts toward securing strategic mineral supplies. Phillips emphasizes two critical criteria when investing in junior mining companies: structure and people. He looks for companies where management owns a significant portion of shares and has a proven track record of success. The ideal investment, in his view, involves well-structured companies with experienced leadership who have previously built or sold successful ventures. His investment strategy focuses on commodities like gold, silver, copper, uranium, and rare earth elements. Phillips is particularly interested in jurisdictions like North America and parts of South America, avoiding regions with high political risk. He sees emerging trends of tech companies and governments increasingly investing in mineral supply chains, which he believes will drive the resource super cycle. Phillips cautions that the junior mining sector is extremely high-risk and not suitable for most investors. He recommends a disciplined approach, including maintaining a focused portfolio of 8-14 carefully selected positions and seeking advice from experienced professionals. His investment philosophy centers on finding companies with potential to develop tier-one assets and create meaningful value. The interview highlights Phillips' belief that successful speculation in the junior mining space requires understanding company structure, management quality, and geological potential. He advises investors to conduct thorough research, seek expert guidance, and remember the industry adage: "The best way to make a small fortune in the junior mining sector is to start with a large fortune."

Interview with Garrett Ainsworth, President & CEO, District Metals CorpOur previous interview: https://www.cruxinvestor.com/posts/district-metals-tsxvdmx-betting-on-swedens-uranium-future-5726Recording date: 23rd September 2025District Metals Corp has strategically positioned itself at the forefront of Sweden's anticipated uranium mining revival, controlling 100% of the Viken deposit—described as the world's largest undeveloped uranium resource. The company's timing appears exceptional, as Sweden's center-right government plans to lift the country's uranium mining moratorium in Q4 2025, with new legislation expected to take effect January 1, 2026.The company executed a capital-efficient acquisition strategy between 2020 and 2025, securing complete ownership of the Viken deposit for approximately 5 million shares and minimal cash outlay. This approach demonstrates remarkable foresight, as the acquisition occurred during a period when Sweden's uranium mining prohibition remained in place, allowing District Metals to secure the asset at attractive valuations.The Viken deposit offers compelling operational characteristics that differentiate it from complex high-grade uranium projects. Located within Sweden's alum shale sequence, the deposit spans 4 kilometers wide by 6 kilometers long in a shallow, flat-lying formation suitable for conventional open-pit mining. This geological simplicity contrasts sharply with sophisticated underground operations like those in Canada's Athabasca Basin, which require advanced extraction techniques and significant capital investment.Beyond uranium, the deposit contains valuable commodities including vanadium, potash, phosphate, nickel, copper, zinc, and potential rare earth elements. This polymetallic nature provides natural commodity price hedging and multiple revenue streams, reducing dependence on uranium pricing alone. The inclusion of vanadium—particularly valuable for energy storage applications—and rare earth elements aligns with Europe's strategic objectives of reducing critical mineral import dependence.District Metals completed an updated mineral resource estimate in April 2025, addressing deficiencies in previous studies and incorporating multiple commodities that were previously excluded. The company invested in comprehensive MobileMT geophysical surveys to optimize mine planning and expects to complete a preliminary economic assessment within 6-12 months, depending on selected mining locations and metallurgical testing results.The investment thesis extends beyond commodity fundamentals to encompass European energy security and critical mineral independence. As geopolitical tensions highlight supply chain vulnerabilities, Sweden's domestic uranium production capability represents strategic value for EU energy policy objectives. The timing coincides with Europe's commitment to nuclear energy as essential baseload power for achieving net-zero emissions while maintaining industrial competitiveness.District Metals represents a pure-play opportunity on Sweden's uranium mining liberalization, combining operational simplicity, polymetallic diversification, and alignment with European strategic priorities in a capital-efficient package positioned for near-term regulatory catalysts.Learn more: https://www.cruxinvestor.com/companies/district-metals-corpSign up for Crux Investor: https://cruxinvestor.com

Recording date: 23rd September 2025The Denver Gold Forum Americas marked a pivotal moment for the gold mining sector, with buy-side attendance surging over 30% as institutional investors demonstrate renewed interest in precious metals equities. This dramatic shift from the sparse attendance witnessed two years prior signals broader market recognition of the sector's improved fundamentals and investment potential.Major gold miners have fundamentally transformed their financial profiles, moving from debt-heavy structures to robust cash positions. AngloGold Ashanti exemplifies this transformation, transitioning from net debt to net cash even after completing major acquisitions like Centamin. This financial strength has created unprecedented flexibility for capital allocation strategies previously unavailable during weaker commodity environments.Share buyback programs have emerged as a key theme among major producers, creating consistent market liquidity and generating positive feedback effects through passive fund flows. Industry observers expect buyback announcements from larger mid-cap companies over the next twelve months, representing a new marginal buyer category that provides ongoing support for gold mining equities.The gold mining sector has undergone a philosophical transformation regarding growth strategies. Previously, companies emphasized organic growth while treating acquisitions as taboo investments that attracted negative analyst and investor sentiment. The current environment shows marked openness to inorganic growth opportunities, with management teams no longer viewing expansion as inherently problematic.B2Gold's explicit targeting of 2026 acquisitions represents the most candid expression of this strategic shift, while other companies express cautious optimism about appropriate opportunities. Even companies with substantial organic growth potential, including Agnico Eagle, indicate receptiveness to suitable acquisition targets when they emerge.Investment managers Derek Macpherson and Samuel Pelaez identified Bellevue Gold as their primary new portfolio addition, representing a classic single-asset turnaround story. The Western Australian underground producer operates one of the world's highest-grade gold deposits, containing approximately 3.5 million ounces at nearly 10 grams per tonne.The company experienced multiple operational challenges during 2024 production startup, including delayed mine development, balance sheet strain, and unusual flooding events. These difficulties triggered lender covenant violations and forced balance sheet restructuring, creating attractive entry valuations for patient investors.Current operational metrics indicate successful turnaround execution, with mine development catching up to planned schedules and access to higher-grade ore blocks improving production flexibility. Management projects 170,000 ounces of annual production, though operational capacity suggests potential for 200,000 ounces annually.The combination of strong gold prices, improved sector sentiment, and increased institutional participation creates favorable conditions for both operational turnarounds and sector re-rating opportunities. With Bellevue's market capitalization under $1 billion USD, the company trades at significant discounts to comparable Western Australian producers, suggesting fair value potential in the $2-3 billion range.This institutional interest surge, coupled with miners' enhanced financial flexibility and strategic openness, positions the gold sector for continued evolution as both a defensive precious metals play and growth-oriented investment opportunity.Sign up for Crux Investor: https://cruxinvestor.com

Interview with Greg Martyr, Executive Chairman, Capital MetalsOur previous interview: https://www.cruxinvestor.com/posts/capital-metals-lsecmet-strategic-alliance-advances-worlds-highest-grade-mineral-sands-play-7308Recording date: 22nd September 2025Capital Metals stands poised to make a final investment decision by end-2025 on its Taprobane Minerals project in Sri Lanka, representing what executive chairman Greg Martyr calls "one of the highest grade undeveloped mineral sands projects in the world." The company's exceptional 17.2% grade deposit dramatically exceeds the global average of less than 5%, creating substantial competitive advantages in an otherwise challenging market environment.The project's economics are compelling, requiring only $25 million in initial capital to generate projected annual revenues of $35-40 million against operating costs below $20 million. This translates to a base case net present value of $180 million, creating significant upside potential for a company trading at a market capitalization below £20 million.Capital Metals has secured crucial local partnerships, including a $4 million investment from Ambeon Capital for a 20% stake. The partnership brings legendary cricketer-turned-investment banker Aravinda De Silva to the board, providing essential government relations access in navigating Sri Lanka's regulatory environment.The regulatory landscape has improved markedly following the election of a new anti-corruption government that secured 75% of the vote. "The big picture is that the country is focusing on a mineral source of revenue for foreign direct investment which is what they need," Martyr explains, highlighting the administration's pro-business mining stance.Two critical approvals remain pending: mining license expansion and export rights for heavy mineral concentrate. Management expresses confidence these will be secured by year-end, enabling construction to begin in Q1 2026. The straightforward surface mining operation involves no blasting or chemical processing, with immediate environmental remediation capabilities positioning the project favorably in an ESG-conscious investment climate.With established markets for its four primary commodities—ilmenite, rutile, zircon, and garnet—the project offers investors exposure to a high-margin, environmentally responsible mining operation backed by exceptional resource quality and supportive regulatory momentum.Learn more: https://www.cruxinvestor.com/companies/capital-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with Troy Boisjoli, CEO of Atha Energy Corp.Our previous interview: https://www.cruxinvestor.com/posts/atha-energy-tsxvsask-ex-cameco-team-makes-2nd-high-grade-discovery-7477Recording date: 22nd September 2025ATHA Energy represents a compelling investment opportunity in the uranium sector, driven by exceptional exploration success and unique district-scale positioning. The company's recent discovery at RIB North delivered 26.3 meters of composite uranium mineralization with high-grade intervals reaching 55,730 counts per second, marking the best exploration hole to date at the Angilak Project. This discovery extends mineralization across a 12-kilometer corridor in the Angikuni Basin, where ATHA maintains sole control of an entire uranium-rich sub-basin adjacent to the world-renowned Athabasca Basin.The investment thesis centers on ATHA's proven exploration methodology and experienced management team. CEO Troy Boisjoli brings direct experience from NexGen Energy's Arrow deposit development, while VP Exploration Cliff Revering previously served as chief geologist at Cameco's Cigar Lake operation. This leadership combination provides credible expertise for advancing discoveries through resource definition toward development. The company has achieved a 100% drilling success rate across four separate discoveries in a single exploration program, demonstrating systematic geological understanding and effective targeting.ATHA's strategic position offers multiple value creation pathways. The company can advance either the established LAC50 deposit, containing a historic resource, or prioritize the emerging RIB corridor discoveries showing Athabasca-style mineralization characteristics. This optionality provides flexibility for capital allocation decisions while reducing single-asset risk common among exploration companies.The uranium market environment supports discovery valuations, with structural supply deficits and growing nuclear energy demand driving sector fundamentals. Leading producers like Cameco continue testing all-time highs while quality exploration opportunities remain limited, creating scarcity value for credible discovery stories. ATHA's planned transition from exploration to resource development in 2026 positions the company to capitalize on favorable market timing while providing clear milestone catalysts for investor evaluation and value recognition in the evolving nuclear energy landscape.—Learn more: https://cruxinvestor.com/companies/atha-energy-corpSign up for Crux Investor: https://cruxinvestor.com

More than 1,100 people gathered in London for the 50th World Nuclear Symposium, taking part in a packed programme of discussions, panels and networking. In addition to the usual broad range of topics there were also two special full day programmes - one focused on end energy users and one on finance.The event also saw the publication of 2025's World Nuclear Fuel Report, which warned that gaps could be opening up in the supply-demand picture over the coming years and investment decisions need to be taken now to fuel the forecast increase in nuclear power capacity.The World Nuclear News team were there and have put together a series of reports on the symposium's proceedings, and the fuel report's findings.People featured, in order of appearance:Cecile Gregoire-David, Head of Uranium, Conversion and Enrichment Services, EDFMalcolm Critchley, CEO, ConverDynMeirzhan Yussupov, CEO, KazatompromMichael Huebel, Director General, Euratom Supply AgencySama Bilbao y León, Director General, World Nuclear AssociationTomass Ehler, Director General for Nuclear Energy, Ministry of Industry and Trade, Czech RepublicLauren Culver, Senior Energy Specialist, World BankLoyiso Tyabashe, CEO, South African Nuclear Energy CorporationMatt Firla-Cuchra, Global Lead Nuclear Energy, KPMGVictoria Kalb, Global Head ESG & Sustainability Research, UBSMark Muldowney, Energy, Resources and Infrastructure, BNP ParibasLee McDonough, Director General, Net Zero, Nuclear and International, UK Department for Energy Security and Net ZeroMichelle Catts, Senior Vice President Nuclear Programmes, GE Vernova Hitachi Nuclear EnergyPete Bryant, CEO, World Nuclear Transport InstituteBernard Fontana, Chairman and CEO, EDFVakis Ramany, Senior Vice President International Nuclear Development, EDFLeon Flexman, Corporate Affairs Director, X-energyMesut Uzman, Chief Nuclear Officer, Fermi AmericaRita Baranwal, Chief Nuclear Officer, RadiantRaquel Heredia Silva, World Nuclear AssociationKey links to find out more:World Nuclear NewsInvestment decisions needed to avoid fuel cycle supply gaps'Difficult to overstate demand from institutional investors' for nuclearWorld Nuclear Fuel ReportWorld Nuclear SymposiumEmail newsletter:Sign up to the World Nuclear News daily or weekly news round-upsContact info:alex.hunt@world-nuclear.orgEpisode credit:  Presenter Alex Hunt. Co-produced and mixed by Pixelkisser Production

Interview with Shawn Khunkhun, CEO of Dolly Varden Silver CorporationOur previous interview: https://www.cruxinvestor.com/posts/dolly-varden-silver-tsxvdv-targets-top-10-global-producer-status-7537Recording date: 12th September 2025Dolly Varden Silver Corporation has emerged as a compelling consolidation story in the precious metals sector, delivering exceptional returns while positioning for significant growth in an improving silver market. Under CEO Shawn Khunkhun's leadership since February 2020, the company has systematically transformed from a $20 million market cap explorer into a $550 million silver platform, generating 650% share price appreciation for shareholders.The company's strategic approach centers on consolidating high-grade silver assets in British Columbia's Golden Triangle, accumulating five past-producing mines through methodical acquisitions. Khunkhun's contrarian timing proved prescient, entering the market when $16 silver prices provided minimal exploration incentives for major producers. "We've raised $150 million, and the idea has been, let's create an instrument where investors could get exposure to silver," he explained, describing the systematic vehicle construction.Technical fundamentals support the growth trajectory. The company's assets demonstrate exceptional metallurgy with 88% silver recovery rates, backed by 196,000 meters of drilling and strong community support in a region seeking economic development. A robust $40 million treasury provides flexibility for both organic growth through a 55,000-meter drill program and strategic acquisitions.The institutional investor base reflects confidence in management execution, with 50% institutional ownership including Fidelity, US Global, and Eric Sprott's 10% stake. The April 2025 US listing delivered an immediate 38% share price bump, enhancing access to American capital markets.With only ten primary silver producers globally, Khunkhun sees a clear path to becoming "the 11th" through continued consolidation. Management targets ambitious but achievable goals: $2 billion market cap, 400% share price appreciation, and production status within 18 months. As silver trades at $42 per ounce and generalist investors increase precious metals allocations, Dolly Varden appears positioned to capitalize on both sector rotation and metal price appreciation.Learn more: http://cruxinvestor.com/companies/dolly-varden-silverSign up for Crux Investor: https://cruxinvestor.com

Interview with Ian Cockerill, CEO of Endeavour Mining Our previous interview: https://www.cruxinvestor.com/posts/endeavour-mining-tsxedv-free-cash-flow-surges-to-411m-in-q1-7087Recording date: 17th September 2025Endeavour Mining, one of the world's top 10 gold producers, is demonstrating exceptional operational execution amid gold's surge beyond $3,600 per ounce. The West African-focused miner delivered 58% of annual production guidance in the first half of 2025 while maintaining industry-leading costs across its five-mine portfolio.The company's disciplined capital allocation strategy has positioned it as a leader in shareholder returns. Endeavour will distribute $379 per ounce produced through dividends and buybacks, including $150 million in cash dividends and $69 million in share repurchases by end of H2 2025. "We have class leading dividends both in terms of guaranteed dividends, supplemental cash dividends as well as buybacks," noted CEO Ian Cockerill.Despite generous shareholder distributions, management is strategically reinvesting windfall cash from elevated gold prices. The company plans material increases in exploration spending, leveraging historical discovery costs of just $25 per ounce versus current gold prices exceeding $3,600. "Our discovery cost historically has been $25 an ounce. $100 to find something that's worth $3,500. Think of the value add that brings to us," Cockerill emphasized.Endeavour has secured 30% organic production growth through 2030, targeting 1.5 million ounces annually from existing project pipelines. This growth foundation provides flexibility for additional opportunities without execution pressure. The company is evaluating geographic expansion beyond West Africa, focusing on similar geological terrains where its frontier market expertise applies.While current gold prices create approximately $1,500 per ounce windfall above guidance assumptions, management recognizes commodity price cyclicality. Their balanced approach of returning substantial cash to shareholders while investing in high-return exploration and operational improvements positions Endeavour to maintain industry-leading performance regardless of future price movements.Learn more: https://www.cruxinvestor.com/companies/endeavour-miningSign up for Crux Investor: https://cruxinvestor.com

Interview with David Wolfin, CEO, Avino Silver & Gold MinesOur previous interview: https://www.cruxinvestor.com/posts/avino-silver-gold-tsxasm-silver-junior-plans-8-10m-oz-annual-output-by-2030-6788Recording date: 17th September 2025Avino Silver & Gold Mines Limited presents a compelling transformation story in the precious metals sector, positioning itself for intermediate producer status through strategic organic growth. Under CEO David Wolfin's leadership, the company is executing a clear five-year plan to expand from one to three producing assets, all owned outright and designed to drive substantial operational leverage.The foundation of this growth strategy rests on the flagship Avino Mine, which generates 2.5 to 2.8 million ounces of silver equivalent annually. This cornerstone operation provides the cash flow foundation supporting expansion while maintaining competitive cost metrics. The company's Q2 2025 financial results demonstrate strong execution with $21.8 million in revenue, $10 million in operating income, and $4.4 million in free cash flow, achieved at all-in sustaining costs of $20.93 per ounce.The next phase centers on La Preciosa, acquired from Coeur Mining in 2022 and permitted in Q1 2025. Recent drilling results have exceeded expectations, revealing 7.9 meters of 1,600 grams of silver equivalent, substantially higher than the 200-gram resource grid used in original planning. This higher-grade ore will contribute to lower costs and improved margins when processed through existing mill infrastructure.Avino's financial strategy distinguishes it from peers. "We're doing the opposite of our peers. We're unlevering, unhedging, and buying back the royalty," Wolfin explains. This approach has created a debt-free balance sheet with $50 million in cash, providing flexibility for self-funded expansion without equity dilution.Market recognition has followed operational success. The company achieved 600% stock performance over three years, earning inclusion in both the TSX30 and GDXJ index. With daily trading volumes of 6-8 million shares on NYSE American, institutional accessibility continues improving.The third asset, oxide tailings processing, completes Avino's measured expansion approach, targeting combined all-in sustaining costs in the "mid-teens to low teens" range across all operations.Learn more: https://www.cruxinvestor.com/companies/avino-silver-gold-mines-ltdSign up for Crux Investor: https://cruxinvestor.com

Michael speaks with President and Founder of the Institute for Science and International Security David Albright about the state of the Iranian nuclear program following US and Israeli strikes. David, a renowned expert on Iran's nuclear program, provides updated analysis on the systematic destruction of key facilities and shares his insights on the challenges of reconstituting the program, the fate of missing enriched uranium, and the ongoing efforts of international monitors. 

Interview with Lon Shaver, President of Silvercorp Metals Inc.Our previous interview: https://www.cruxinvestor.com/posts/20-year-silver-producer-silvercorp-tsxsvm-expands-to-ecuador-with-12-costs-vs-35-prices-7436Recording date: 15th September 2025Silvercorp Metals (TSX: SVM) has positioned itself as a compelling investment opportunity in the current precious metals cycle, combining operational excellence with strategic growth initiatives across multiple jurisdictions. The company's financial foundation anchors its investment thesis, with $377 million in cash plus an investment portfolio providing substantial strategic flexibility without requiring dilutive equity raises.The company's core Chinese operations at the Ying mine continue delivering consistent performance despite facing operational challenges earlier this year. Management is strategically transitioning from labor-intensive mining methods to mechanized approaches, improving both safety and operational efficiency. This evolution positions the company for sustained profitability while reducing operational risks associated with manual mining processes.Silvercorp's most significant near-term catalyst is the El Domo project in Ecuador, targeting commercial production by end-2026. The project benefits from a favorable financing structure with Wheaton Precious Metals contributing $175 million of the $240 million capital requirement through a streaming arrangement. Legal challenges have been definitively resolved through Ecuador's judiciary system, clearing the path for development execution.Trading at a $1.2 billion market capitalization against consensus net asset value estimates of $1.6 billion, Silvercorp offers investors discounted exposure to silver markets. As a silver-dominant producer with over 60% of revenues derived from silver, the company provides leveraged exposure to precious metals strength while maintaining operational cash generation capabilities.Management's disciplined approach to mergers and acquisitions, supported by a $400 million shelf prospectus, positions the company for strategic growth through value-accretive transactions. Their expertise in challenging jurisdictions creates competitive advantages in acquiring assets where other operators demand risk premiums. With a 20-year track record of profitable operations and near-term production growth catalysts, Silvercorp presents an attractive entry point for precious metals exposure in the current market environment.View Silvercorp's company profile: https://www.cruxinvestor.com/companies/silvercorp-metalsSign up for Crux Investor: https://cruxinvestor.com