Trevor welcomes prolific retail investor Pete Panda to discuss his unique approach to the mining and exploration sector. Panda details how he uses advanced tools to quickly process drill traces, assays, and company data, reducing his due diligence time significantly. He stresses that while data is key—because "the junior is the data"—investors must combine this analysis with human conversations to find "orange flags or the red flags" and understand the context of competitors. Regarding strategy, Pete favors making big bets early on after fast due diligence and explains that he trims positions that double or triple quickly, even if valuation supports it, because the market cannot "swallow that rerate that fast". The conversation wraps up with a look at 2026 themes, where he notes the margin expansion for gold producers is real and advises listeners to not be afraid to buy an up-trending chart.