In this episode of Mining Stock Education, Bill Powers and Brian Leni each share one of their ten-bagger losses. The duo delves into the intricacies of investing in junior mining stocks through their monthly MSE chat. They tackle a listener’s question about missed investment opportunities and discuss the importance of establishing and adhering to a sound investment process. Brian shares his reasons for passing on Filo Mining due to jurisdictional risks and contrasts it with his success in investing in AbraSilver. The episode also covers investment strategies, such as balancing risk and return and the differences between conservative and speculative approaches. They analyze market dynamics, including the challenges of opaque markets like rare earth elements, and discuss the significance of due diligence, valuation, corporate transparency, and management credibility. Additionally, the episode explores the importance of learning from investment losses to refine one’s process and the contrasting approaches between “spray and pray” and targeted, strategic investing. Listen to these two full-time mining speculators share insights and reflect upon your own approach to junior mining speculation!

0:00 Introduction

0:31 Ten-bagger losses

7:39 Process modification

11:02 “Spray & Pray” vs Rifle approach

19:19 Conservative vs Speculative

22:36 Corp decks

28:10 New geological model speculation

31:43 Investing with failed management

36:50 Lower-tier management with cash

39:40 Director’s overcompensation

44:14 Pump-n-dump case study

49:22 Honorable founder’s shares escrow

52:13 Rare earths

Brian’s website: https://www.juniorstockreview.com/

Bill’s Twitter: https://x.com/MiningStockEdu

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Mining Stock Education offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

In this episode of Mining Stock Education, host Bill Powers interviews Don Durrett from GoldStockData.com. Don shares his experience in the mining stock sector, emphasizing his investment strategies and revealing how his investment in Crocodile Gold is turning into a 100-bagger. The discussion covers his views on various mining companies like Newmont, Agnico Eagle, and First Majestic Silver, and his thoughts on balancing risk with potential rewards in the mining sector. Don also provides valuable tips for evaluating mining stocks, highlighting the importance of strong projects, management teams, and having an investment edge.

0:00 Introduction and Guest Welcome

0:44 Analyzing Newmont's Q2 Earnings

3:04 Investment Strategies and Market Predictions

17:47 Mid-Tier Producers and Success Stories

21:13 Developer Checklist and Investment Criteria

24:10 Management Teams and Path to Production

27:29 Takeovers and Market Positioning

31:43 Trading Strategies and Stock Selection

32:28 Avoiding the OTC Pinks and Understanding Insiders

33:31 Bearish on Exploration Stocks

34:11 Optionality Plays in Gold and Silver

35:40 Early-Stage Exploration and the Lassonde Curve

38:33 Inelasticity of Exploration Stocks

43:38 Managing a Diverse Portfolio

55:28 AI in Mining Stock Analysis

1:00:30 Concluding Thoughts and Market Predictions

https://www.goldstockdata.com/

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This episode was not sponsored. Mining Stock Education offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

In this episode of Mining Stock Education, host Bill Powers welcomes Ivan Bebek, Chair and CEO of Coppernico Metals, as they discuss the latest updates on the company's flagship Sombrero project in Peru. Ivan shares details about the ongoing efforts to obtain permits and advance the project, highlighting the potential large-scale drill targets identified. Additionally, Ivan reveals the company's strategy to acquire new copper and gold exploration projects in the USA, aiming to balance and accelerate their portfolio as the market for junior mining companies appears poised for growth. Key topics include the status of current and upcoming permits, the broader land package at Sombrero, and the company's financial outlook.

Sponsor: https://coppernicometals.com/

TSX:COPR; OTCQB: CPPMF; FSE: 9I3

0:00 Intro

0:37 Sombrero

3:18 Near-term USA Gold asset addition

6:37 Expect COPR majority ownership with a quality partner

7:25 Catalysts

9:00 NYSE American uplist?

10:49 Working capital: 11-12mos

12:11 Corporate and institutional shareholders

14:09 Final thoughts

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Sponsor Coppernico Metals pays MSE a United States dollar seven thousand per month coverage fee. Mining Stock Education (MSE) offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

Pro Investor David Erfle believes “gold stocks still need to catch up to the gold price.” He provides commentary on recent precious metals and miner price actions, discusses how he has managed his portfolio over the past month and shares where he currently sees value.

David Erfle is a self-taught mining sector investor. He stumbled upon the mining space in 2003 as he was looking to invest into a growing sector of the market. After researching the gains made from the 2001 bottom in the tiny gold and silver complex, he became fascinated with this niche market. So much so that in 2005 he decided to sell his home and invest the entire proceeds from the sale into junior mining companies. When his account had tripled by September, 2007, he decided to quit his job as the Telecommunications Equipment Buyer at UCLA and make investing in this sector his full-time job. David founded the Junior Miner Junky subscription-based newsletter in April, 2017 and writes a weekly column for precious metals news service Kitco.com, whose website attracts nearly a million visits every day.

0:00 Intro

0:42 Gold and Silver Market Analysis

3:20 Newmont and Generalist Investors

7:11 Company Financial Health and M&A Activity

9:09 Investment Strategies and Tax Considerations

13:18 Commodity Ratios and Market Trends

15:04 Private Placements and Market Listings

22:29 Junior Miners and Market Sentiment

28:55 Conclusion and Final Thoughts

David’s website: https://juniorminerjunky.com/

Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39

Mining Stock Education (MSE) offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. If you buy stock in a company featured on MSE, for your own protection, you should assume that it is MSE’s owner personally selling you that stock. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

“The entire theme undercurrent in this [recent] conference was national defense. We, the United States, are going to re-industrialize because we want to be self-sufficient in critical industries, be they national defense like drones or A.I. or critical materials like battery production, and I would argue that that narrative of national defense has now permeated the junior mining and the mining world as well,” Chris Berry, president of House Mountain Partners, shares in this MSE episode.

The discussion with Chris revolves around the U.S. Department of Defense's investment in MP Materials and its implications for the rare earth and lithium markets. Chris highlights the significant shift towards national defense as a driver in the mining sector, the intricacies of rare earth pricing, and the potential of Direct Lithium Extraction (DLE). The episode also touches on the evolving narrative from net zero to national defense and the critical role of public-private partnerships in reestablishing the U.S. as a dominant player in critical metals. Investors will find valuable insight into strategic opportunities and potential profit areas within the USA critical metals stocks.

0:00 Intro

0:36 DOD Investment in MP Materials

5:32 Rare Earth Pricing and Market Dynamics

7:55 Global Rare Earth Supply Chain Challenges

12:28 Opportunities and Risks in Rare Earth Investments

15:22 Lithium Market Insights and Future Outlook

25:46 Oil Super Majors Entering the Lithium Market

27:11 The Role of Major Companies in Lithium Extraction

27:36 Challenges and Promises of Direct Lithium Extraction (DLE)

30:43 Comparing Hard Rock and DLE Lithium Mining

32:39 Volatility and Pricing in the Lithium Market

37:25 Opportunities and Challenges in Lithium Refining

45:31 The Impact of AI on the Investment World

47:57 Chris's Background and Services

52:01 Conclusion and Final Thoughts

Chris Berry’s website: https://www.discoveryinvesting.com/

Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39

Mining Stock Education (MSE) offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. If you buy stock in a company featured on MSE, for your own protection, you should assume that it is MSE’s owner personally selling you that stock. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

Kenorland Minerals CEO Zach Flood provides an update on the new gold discovery at the South Uchi project in Ontario, where Kenorland's maiden drill program confirmed a large footprint gold system. Zach highlights the company's unique prospect generator business model, talks about their partnership with Auranova Resources, and discusses upcoming exploration plans. This MSE episode also touches on Kenorland's strategic holdings, including significant positions in Auranova Resources and other marketable securities, and their ongoing projects with partners like Sumitomo, Centerra Gold, and Newmont.

Kenorland looks to identify gaps in exploration maturity within prospective districts based on large scale compilation and integration of geological, geochemical and geophysical data. Kenorland’s management team and advisors have extensive experience in project and target generation from continent-wide area selection to deposit scale exploration across the globe. Combining the team’s extensive exploration experience with an integrated approach places Kenorland in an optimal position to generate shareholder wealth through JV partnerships, generated royalties, equity positions and new discoveries.

https://www.kenorlandminerals.com/

TSXV: KLD | OTCQX: KLDCF | FSE: 3WQ0

0:00 Intro

00:33 Rule Symposium insights

01:36 South Uchi Project: A New Gold Discovery

04:56 Exploration Strategies and Partnerships

13:37 $7M marketable securities

15:24 Centerra Gold deal

17:48 JV partners & industry insights

19:45 Tanacross project

22:55 Gold-focused

25:38 Catalysts

Recent press release: https://www.kenorlandminerals.com/news/kenorland-minerals-provides-2025-exploration-update

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Sponsor Kenorland Minerals pays Mining Stock Education a United States dollar ten thousand per month coverage fee. Kenorland's forward-looking statement found in the company's presentation applies to the content of this interview. MSE offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. If you buy stock in a company featured on MSE, for your own protection, you should assume that it is MSE’s owner personally selling you that stock. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

In this episode of Mining Stock Education, host Bill Powers talks with Matt Geiger of MJG Capital about the impressive performance of his fund, which has outperformed the S&P 500 over both five and ten-year periods. Matt discusses the fund's structure, investment strategies, and portfolio breakdown, including significant weightings in copper and precious metals. He also highlights the current landscape for royalty and streaming companies, the role of prospect generators in the market, and his approach to managing exits in the face of market volatility. The podcast provides valuable insights into the mining sector, investment strategies, and future market trends.

00:00 Introduction and Performance Overview

01:51 Market Trends and Predictions

06:14 Portfolio Breakdown and Strategy

09:20 Prospect Generators and Royalty Models

16:17 Recent Developments in the Royalty Space

25:12 Competitive Dynamics in the Royalty Sector

26:10 Challenges and Opportunities in Hard Rock Royalties

26:47 Prospect Generators: Criteria and Metrics

32:40 Evaluating Management and Ownership in Prospect Generators

37:21 Managing Exits in Gold and Copper Stocks

40:52 Matt's Journey and Investment Philosophy

43:18 Conclusion and Final Thoughts

Matt’s website: http://mjgcapital.com/

Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39

Mining Stock Education (MSE) offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. If you buy stock in a company featured on MSE, for your own protection, you should assume that it is MSE’s owner personally selling you that stock. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

"Each Seabridge Gold Share Represents $9,000 In-Situ Metal, Yet Trades for $16” says CEO Rudi Fronk in this MSE episode. Seabridge Gold presents an extraordinary tripartite value argument to investors claiming to offer: 1) more value per share than any other publicly traded metal producer; 2) the most gold per share of any public company; and 3) more copper per share than any other copper focused exploration and mining company.

In this MSE episode, host Bill Powers interviews Rudi Fronk about his mining career, key lessons learned and the investment thesis behind Seabridge. Rudi recounts his early education in mining and finance at Columbia University, the lessons he learned from the multifold challenges faced by Greenstone Resources while he was at the helm, and how these experiences shaped his approach at Seabridge. He emphasizes Seabridge's guiding principles such as avoiding political risk, never building mines themselves, and focusing on gold ounce per share growth. The conversation also delves into two significant near-term milestones for Seabridge, including resolving a nuisance claim and announcing the joint venture partner for the KSM project. Rudi shares insights on the gold market, the company’s strategic approach, and his commitment to Seabridge's long-term success.

0:00 Intro

0:54 Career path

4:04 What Rudi did wrong at Greenstone Resources

6:07 Seabridge Gold: Rudi’s second chance

7:37 “I’m a control freak”

8:20 Seabridge: the most gold per share

10:22 Why the share price discount?

11:30 Two main catalysts

12:49 Courageous Lake spinout

15:27 Gold miner value destruction

17:40 Shareholders: listen to or ignore?

21:00 Investment thesis never changed

21:51 Stars aligning

26:05 JV partner announcement

27:58 Liquidation value?

29:01 $12,000/oz gold?

31:51 Rudi’s retirement

https://www.seabridgegold.com/ TSX:SEA NYSE:SA

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This interview was not sponsored. Mining Stock Education (MSE) offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. If you buy stock in a company featured on MSE, for your own protection, you should assume that it is MSE’s owner personally selling you that stock. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

In this episode of Mining Stock Education, host Brian Leni interviews Michael Samis of SCM Decisions. The discussion delves into the intricacies of discounted cash flow (DCF) modeling, focusing on its applications in the mining industry. Key topics include the differences between static and dynamic DCF models, how to effectively deal with risks like metal price fluctuations, jurisdictional considerations, and inflation. Michael shares insights from his 35-year career in mining engineering and valuation, offering practical advice for both seasoned investors and newcomers on utilizing these models to evaluate the economic potential of mining projects. They also discuss the significance of real options and the importance of accurate cash flow risk assessment in making informed investment decisions.

00:00 Intro

00:27 Guest Introduction: Michael Samis

00:31 Understanding Discounted Cash Flow Modeling

02:10 Static vs. Dynamic Cash Flow Models

05:51 Application of Dynamic Models in Exploration

14:54 Challenges and Risks in Modeling

17:42 Learning and Resources for Investors

25:25 Importance of Dynamic Modeling in Modern Markets

32:47 Financing and Joint Ventures Insights

39:05 Final Thoughts and Contact Information

Michael’s website for course info: https://scmdecisions.com/

Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39

This interview was not sponsored. Mining Stock Education (MSE) offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. If you buy stock in a company featured on MSE, for your own protection, you should assume that it is MSE’s owner personally selling you that stock. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/

Bill Powers and Brian Leni offer firsthand tips on how to confidently speculate in junior mining stocks in their monthly MSE episode. They discuss key insights gleaned from the past month of MSE interviews. They share the top books to read for new mining investors as well as books all speculators should know. The pair chat about investor psychology behind bubbles and lazy speculation. Other topics engaged are the role of life financings and warrants in Canadian markets, issuer confidentiality agreements, how Bill was recently conned, deal flow sources, Ecuador as a mining jurisdiction, geo-politics impact on small-caps and much more. Listen to these two full-time mining speculators share insights and reflect upon your own approach to junior mining speculation!

0:00 Introduction

1:08 June MSE interviews insights

4:44 Mega-pump psychology

6:48 “Fear is a rational response to laziness”

9:32 FOMO vs Fear of loss

11:30 Warren Buffett

14:07 Management believability

18:01 Lumina Gold & Ecuador

22:01 Life financings

24:20 Warrants

34:07 Confidentiality Agreements

36:21 Must-read books

41:15 Bill was conned

45:46 Geo-political impact on small-caps

49:43 Deal-flow

Download Howard Mark’s “You Bet” memo that Bill referenced: https://www.oaktreecapital.com/docs/default-source/memos/you-bet.pdf?sfvrsn=785dbe65_8

Brian’s website: https://www.juniorstockreview.com/

Bill’s Twitter: https://x.com/MiningStockEdu

Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39

Mining Stock Education offers informational content based on available data but it does not constitute investment, tax, or legal advice. It may not be appropriate for all situations or objectives. Readers and listeners should seek professional advice, make independent investigations and assessments before investing. MSE does not guarantee the accuracy or completeness of its content and should not be solely relied upon for investment decisions. MSE and its owner may hold financial interests in the companies discussed and can trade such securities without notice. MSE is biased towards its advertising sponsors which make this platform possible. MSE is not liable for representations, warranties, or omissions in its content. By accessing MSE content, users agree that MSE and its affiliates bear no liability related to the information provided or the investment decisions you make. Full disclaimer: https://www.miningstockeducation.com/disclaimer/