Mining Stock Education

Dundee Corporation CEO Jonathan Goodman argues mining has entered a “generational opportunity” after generalist investors largely abandoned the sector post-2010 and amid growing recognition that North America needs secure domestic supply chains and new mines. Goodman expects Canada and the U.S. to streamline permitting, citing direct government outreach and the view that permitting should not take a decade. Drawing on mine-building experience at Dundee Precious Metals in Bulgaria and Serbia, he explains why discounted cash flow and NI 43-101 stage-gate studies can mislead and can often be no more than marketing documents. He urges investors to focus on recommendations and risk sections of studies and to assess orebody quality first. He shares insights regarding stakeholder biases, Dundee’s approach to independent technical review, preference for mainstream metals, examples of contrarian success, why merchant banks trade at NAV discounts, and Dundee’s strategy to add predictable cash flow, including its Westhaven Gold Corp. deal and cash-heavy valuation discount.

00:00 Intro

00:48 Decade of the Miner

03:20 Permitting Tailwinds

05:15 Building Mines Lessons

06:35 Why DCF Fails

09:00 PEA PFS Reality Check

13:24 Financing with Banks

14:39 Biases Across Mining

17:11 Merchant Bank NAV Discount

19:12 Independent Data Edge

21:48 Ore Body vs Management

24:49 Let Rocks Speak

25:55 AI and Small Fund

27:40 Metals to Focus On

29:06 Contrarian Win Case Study

32:04 Start Small Scale Up

37:09 Advice for Retail Investors

40:31 Westhaven Due Diligence

44:01 Dundee Value Proposition

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This interview 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/

Atomic Eagle CEO Phil Hoskins stated: “To deliver a 24% increase in total resources from our maiden drill program – and to do so at a cost of just US$0.05 per pound – is a strong endorsement of our exploration approach and the potential scale of the uranium resources across our Muntanga Project area. This resource upgrade is a great start to achieving the Exploration Target we announced for the Project late last year. The Company aims to materially increase the mineral resource to underpin a significantly larger uranium mine in Zambia. We’re embarking on the largest drill program for the Project in almost 20 years later this month and we see clear scope for this program to significantly expand the Project’s resource inventory and unlock further value for shareholders.”

https://atomiceagle.com.au/

ASX: AEU - OTCQB: AEUXF

Press Release Discussed: https://wcsecure.weblink.com.au/pdf/AEU/03063707.pdf

00:00 Intro

00:26 Resource Up 24%

02:12 Why This Project

03:55 New Targets Ahead

05:43 Low-Cost Uranium Drilling

08:40 Feasibility Study Re Release

10:34 Peers

11:41 North America Roadshow

12:53 Nigeria Asset Update

14:30 ETF Inclusion

Sponsor Atomic Eagle pays MSE a United States dollar ten thousand per month coverage fee. The forward-looking statement disclaimer found in Atomic Eagle’s most-recent company slide deck found at www.AtomicEagle.com.au applies to everything discussed in this interview. 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/

Host Bill Powers interviews Scorpio Gold CEO Zayn Kalyan and Executive Technical Director Leo Hathaway about exploration at the consolidated Manhattan District in Nevada ten miles south of Kinross’ Round Mountain. Hathaway explains why the underexplored trend with historic pits and workings attracted him, his role overseeing exploration and communicating a Lumina Group-style plan to grow the current 740,000-ounce pit-constrained inferred resource toward a 2-million-ounce year-end target and possibly beyond. They discuss Black Mammoth’s geology on the Reliance Fault and why hole 57 is viewed as a “discovery hole,” highlighted by 40.23m of over 1 g/t gold from 195m downhole, with systematic 50 m step-outs and additional holes underway. They also review early Iron Queen diamond-drill results, ongoing three-rig drilling, six holes recently shipped for assays, claim diligence, and additional targets such as Keystone Jumbo and Hooligan, plus the district’s April Fool claim history.

00:00 Intro

00:43 Why Leo Chose Scorpio Gold

03:10 Nevada District Overview

03:58 Exploration Strategy and Goals

05:37 Black Mammoth Discovery

08:17 Underground Development Angle

10:01 Discovery Hole and Step Outs

11:44 Iron Queen Results

13:11 Drilling Update and Assays

14:38 April Fool Deposit History

16:11 Claims and Title Security

17:43 Conclusion

TSX.V: SGN -- OTCQB: SRCRF -- FSE: RY9

www.ScorpioGold.com

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Sponsor Scorpio Gold Corp. pays MSE a United States dollar ten thousand per month coverage fee. The forward-looking statement disclaimer found Scorpio Gold’s most-recent company slide deck found at www.ScorpioGold.com applies to everything discussed in this interview. 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 shares of any company featured on MSE, you should, for your own protection, assume MSE’s owner is personally selling you those shares. 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 reveals how he is managing the recent junior mining volatility and sell-off. David reminds listeners that in small resource stocks risk management is number one. Although he is not predicting it, he even sees the possibility where gold might trade down to $2,800/oz. If gold closes a week below $4,200/oz that is a threshold that David expects would trigger more selling. This recent sell-off, he explains, also creates a nice possible entry point for new gold stock investors. Dave emphasizes that fundamentals remain bullish longer term, but risk management, taking profits, and accumulating in tranches are essential, especially for newer entrants.

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.

00:00 Intro

00:52 Portfolio Moves in Volatility

01:59 Deleveraging and Forced Selling

04:33 Cash and Risk-Free Juniors

05:45 Key Gold & Silver Levels

07:21 Corrections in Bull Markets

08:59 Politics Rates and Miner Costs

11:41 Accumulating Fishing Lines

13:40 Valuations and $10,000 Gold Talk

16:54 GDX & GDXJ Support Targets

21:00 Tranche Buying

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/

In this month’s Junior Mining Insights discussion, Bill Powers and Brian Leni discuss the topics of recent junior mining volatility, opportunity cost, overthinking and “it’s cheap enough.” The duo shares their investment psychology, observations of sector participants, first-hand experience, and real-life stories from their own lives and portfolios. Bill and Brian also reveal a few books that they have recently read.

00:00 Intro

00:22 Portfolio volatility

02:14 Handling Big Drawdowns

05:24 Signal Versus Noise

09:01 Bias and Vetting Ideas

11:15 Overthinking Pitfalls

17:11 Process Builds Confidence

19:32 Portfolio Allocation and Greed

21:37 Cash Flow and Real Assets

23:54 Opportunity Cost and Priorities

27:19 Books and Uruguay Trip

36:43 Cheap Enough and Valuation

40:49 Luck Versus Skill in Wins

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

Brian’s YT: https://www.youtube.com/@FIELD_NOTES

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

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Bill and Brian and not licensed financial advisors. 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/

Tim Clark, CEO of Fury Gold Mines, provides an update on the advancements at the Eau Claire gold project in northern Quebec as well as an overall corporate update along with SVP Bryan Atkinson.

The key Eau Claire highlight was infill drill hole 26EC-099, which targeted an inferred portion of the Eau Claire resource and intercepted 11.74 g/t gold over 6.63 metres approximately 40m down plunge from previous drilling. A second hole, 26EC-101, which is a further 40m step down plunge outside of the existing resource envelope has just been completed and results are pending.

“Drilling at Eau Claire continues to reinforce resource continuity, confirming mineralization remains well-developed and predictable within the deposit,” stated Tim Clark. “Importantly, the program shows the potential to grow the deposit between resource blocks (the Gap Zone) in shallow previously untested areas, and we look forward to continued drilling to further de-risk and expand Eau Claire as we unlock additional value for shareholders.”

00:00 Introduction

00:28 2025 Advancements

2:21 Phillips Baker, retired Hecla CEO, joins Fury board

3:53 Eau Claire drill program

6:35 Treasury

8:51 2026 Anticipated spending

10:04 Committee Bay

10:55 Sakami project

13:06 Conclusion

Sponsor: https://furygoldmines.com/

Ticker: FURY

Press Release discussed: https://furygoldmines.com/fury-intercepts-11-74-g-t-gold-over-6-63-metres-from-infill-drilling-at-eau-claire-commences-phase-2-drilling/

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Sponsor Fury Gold Mines pays MSE a United States dollar seven thousand per month coverage fee. The forward-looking statement found in Fury Gold’s most-recent presentation found at www.FuryGoldMines.com applies to everything discussed in this interview. 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/

Tavi Costa, founder and CEO of Azuria Capital, reveals three contrarian macro trades for which, he says, “people will call me crazy.” He also discusses the recent gold sell-off, which Costa argues does not fit a typical liquidation event since equities and treasuries were not crashing; he suggests an alternative possibility that Iran or other gray-area actors may have sold gold accumulated via oil trade outside the dollar system. Costa says the pullback created an oversold buying opportunity and expects gold to be multiples higher over 5–10 years, driven by dollar devaluation tied to U.S. twin deficits, central-bank buying, stagnant mine supply, deglobalization, and portfolio reallocation toward gold. He also addresses multipolarity and petrodollar concerns, favoring gradual shifts rather than a near-term reserve-currency change. Costa describes rotating across commodities, taking profits in energy, buying gold and quality miners, and adding contrarian options positions.

00:00 Intro

00:45 Gold Sell-off Explained

02:52 Middle East Gold Rumors

04:31 Buying the Dip

06:17 Gold Drivers Long Term

10:08 Petrodollar and Multipolarity

12:37 Commodity Rotation Strategy

15:40 How He Buys Gold

17:29 Three Mispriced Bets

20:29 Most Contrarian Wins

24:33 Brazil and Emerging Markets

26:59 Zeria Capital Mission

31:32 Where to Follow Tavi

https://x.com/TaviCosta

https://tavicosta.substack.com/

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This was not a sponsored interview. 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/

Host Brian Leni interviews Amanda van Dyke, founder and managing director of the Critical Minerals Hub and author of The Mineral Imperative, about rising mineral demand, supply-chain complexity, and geopolitical risk. Van Dyke says global metals and minerals output has doubled over 25 years and must at least double again to maintain today’s economic level, while mining faces lower grades and a discovery drought. She warns shortages can trigger volatile outcomes, including trade and shooting wars, noting China invested about $1 trillion over 25 years to control roughly 60% of the global metals/minerals supply chain and 90% of some small critical metals. They discuss Strait of Hormuz disruption risk, U.S. defense stockpiles, government-backed price floors like the MP Materials rare earth deal, G7 coordination, and why EU anti-mining policies and permitting risk make it a poor investment jurisdiction after losing 40% of mining capacity.

00:00 Intro

00:57 Meet Amanda Van Dyke

02:25 Why We Must Mine More

03:48 Scarcity and Trade Wars

05:54 Middle East Chokepoint Risks

09:30 Defense Stockpiles Reality

13:06 US Price Floors Explained

21:06 G7 Minerals Club Plans

22:48 EU Anti Mining Problem

27:20 Where Value Is Now

31:30 Biggest Bear Case Recession

33:45 AI And Net Zero Reality Check

37:05 The Mineral Imperative Book

https://criticalmineralshub.org/

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

This was not a sponsored interview. 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/

Tomasz Nadrowski is the author of “Mineral War: China’s Quest for Weapons of Mineral Destruction.” In this episode, host Bill Powers interviews Tomasz to understand the nature of this mineral war so that investors can discern the best profit opportunities. Nadrowski shares that China has quasi-monopolized and weaponized critical mineral supply chains, forcing the West to rebuild upstream-to-downstream value chains where geopolitics can matter as much as geology. He describes his mining and hedge fund background, his fund’s focus on rare earths, battery materials, and specialty metals, and the need to assess offtake, processing capacity, and government policy. Tomasz argues effective policy requires three levers: upstream reference prices, protection via tariffs, and downstream incentives to adopt Western/allied materials instead of cheap Chinese supply; he criticizes cost-plus pricing while viewing the MP Materials deal as a market signal lowering capital costs. The discussion covers tungsten (China’s ~82% control), top monopolies (heavy rare earths, gallium, flake graphite), gallium and germanium sourcing, China’s Africa deal structure and debt effects, China’s control of nickel via Indonesia, and trading/exit discipline amid high volatility.

00:00 Intro

00:20 Meet the Guest

00:52 Mining to Hedge Funds

02:32 Mineral War Thesis

03:45 How the Fund Invests

06:14 Government Grants Angle

08:09 Price Floors Debate

10:26 Tariffs and Incentives

12:21 Tungsten Spotlight

14:29 Why China Restricts Exports

17:18 China in Africa Playbook

19:51 Africa Debt Reckoning

21:49 What to Call This System

22:51 China Debt Dilemma

23:51 Critical Minerals Ranking

24:24 Why Gallium Matters

26:49 Germanium Supply and Stockpiles

28:36 US Policy Whiplash

30:23 Nickel Indonesia China Proxy

32:11 Competing with China Standards

35:05 Investing Exit Strategy

Tomasz’s book: https://www.amazon.com/Mineral-War-Chinas-Weapons-Destruction/dp/B0GHDYRLZK

Tomasz’s LinkedIn: https://www.linkedin.com/in/nadrowski

Tomasz’s fund: https://www.amvestterraden.com/

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

This was not a sponsored interview. 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/

Seasoned resource investing expert Ed Baer returns to MSE and offers speculators candid advice. Ed discusses current resource-sector opportunities amid recent commodity enthusiasm and subsequent pullbacks. Baer explains why he got involved with Mogotes Metals in the Vicuna district near major projects and outlines aggressive drilling plans amid lab delays. He also assesses a current loser in his portfolio, Pan Global.

Ed Baer currently serves as CEO and Executive Member of the Board of Directors for the private resource investment company DNA Gold Corp. Mr. Baer has extensive experience in strategic planning and business development, spanning over 30 years in the natural resources sector. In his capacity as Interim Chairman and CEO of European Goldfields Ltd., he effected the transformation of the company through strategic initiatives that leveraged his project management, financing and capital markets experience. Mr. Baer also served in a senior corporate development capacity to Greystar Resources Ltd., and held senior executive positions and a directorship with TVX Gold Inc. Having served in senior executive and corporate development positions for junior and mid-tier precious metals companies, he has a demonstrated record in the transformation and successful building and turnaround of соmраnіеѕ. Mr. Baer holds a Master of Laws (LLM) from Osgoode Hall Law School and a Master of Science (Leadership) with Distinction from Northeastern University. He is a member of the Institute of Corporate Directors and obtained the ICD.D designation in 2009.

00:00 Intro

00:46 Euphoria in junior miners

03:11 Reality Check Pullbacks

04:42 Why Gold and Copper

07:09 Financing Window Tightens

07:47 Flow Through Skepticism

09:03 Mogotes Metals Origin Story

10:01 Vicuna District Big Picture

11:43 Drilling Plans and Lab Delays

13:06 Jurisdiction and Due Diligence

14:23 Taking Profits Not Greedy

16:42 Handling Losers: Pan Global

19:31 MRE Timing and Credibility

21:01 Calling Institutions for Clarity

22:08 Opportunity Cost Reality

23:19 Walking Away from Arrogance

24:23 Use Realistic Metal Prices

25:51 Background Checks and Governance

29:00 Options RSUs And Pay Abuse

31:10 Useless Board Seats

33:34 Eike Batista Lesson

36:58 Thunder Bay Due Diligence

39:30 Why Promos Fade Online

40:18 How To Reach Ed

Ed Baer’s private investment company: https://www.dnagoldcorp.com/

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

This was not a sponsored interview. 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/