Mining Stock Education

Atomic Eagle CEO Phil Hoskins stated: “Our 2026 goal of increasing Muntanga’s Mineral Resource is off to a great start. These initial results from Chisebuka build directly on the Company’s early success, which saw a 9.7Mlb uranium resource defined at Chisebuka in a matter of months. Chisebuka’s SW zone is now emerging as the next key addition with near-surface higher-grade results outside of the previous resource area and we’ve only scratched the surface of the planned holes into Chisebuka this year. Drilling is continuing with two rigs aiming to expand the higher-grade zones at Chisebuka whilst at the same time, we are conducting ground radiometric surveys to refine the exciting Namakande and Muntanga North targets.”

Hoskins says the company has grown the resource 24% from 47M lbs to 58M lbs and is running a major 30,000-meter drill program, with early Chisebuka holes largely hitting expected mineralization and potential for meaningful satellite resource growth. He outlines larger exploration upside at Muntanga North and Namakande using layered datasets including airborne and ground radiometrics, radon-in-soils, favorable host rocks, and structural targeting. Hoskins discusses expectations for consistent heap-leach metallurgy, progress toward environmental and resettlement approvals, infrastructure advantages, a low-cost option to acquire the Sitwi uranium project, recent board changes, ongoing Niger discussions on Madaouela as option value, and an OTC move from QB to QX.

00:00 Intro
00:26 Project Update Overview
01:21 Chisebuka Drilling Results
03:10 Next Big Targets
03:46 Targeting Methodology
05:07 Metallurgy and Economics
07:06 Zambia Trip Insights
09:34 Sitwi Project Option
11:48 Board and Leadership Changes
13:51 Permitting Status
14:20 Niger Asset Update

https://atomiceagle.com.au/
ASX: AEU - OTCQB: AEUXF

Press Releases Discussed:
https://wcsecure.weblink.com.au/pdf/AEU/03089414.pdf
https://wcsecure.weblink.com.au/pdf/AEU/03091279.pdf
https://wcsecure.weblink.com.au/pdf/AEU/03083026.pdf
https://wcsecure.weblink.com.au/pdf/AEU/03072398.pdf

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/

“We are pleased with the results of our 2025-2026 drilling exploration program and the quantity and quality upgrade provided to our Mineral Resources,” said First Phosphate CEO, John Passalacqua. “We are now able to continue to move the project forward with great confidence in our Mineral Resources.”

First Phosphate’s updated Mineral Resource Estimate saw a 378% increase in Indicated Mineral Resources for its Bégin-Lamarche project in Saguenay-Lac-Saint-Jean, Québec, Canada when compared to the Company’s Initial MRE dated September 9, 2024.

00:00 Intro
00:30 Resource Update Highlights
02:04 Feasibility Plan Funding
03:19 Cutoff Grade Explained
04:01 Warrants Shareholder Support
05:08 Clean Capital Structure
06:29 Agnico Deal Industry Signal
09:56 Investor Outreach Strategy
10:48 ADR: How It Works
12:25 Next Catalysts Timeline
13:03 Why Focus on Phosphate

First Phosphate Introductory Interview: https://www.youtube.com/watch?v=eD7t1Q7OZfU

Press releases discussed: https://firstphosphate.com/begin-lamarche-phosphate-resource-update-2026/

CSE: PHOS – FSE: KD0 – OTCQX: FRSPF – OTCQX-ADR: FPHOY

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Sponsor First Phosphate pays Mining Stock Education a United States dollar ten thousand per month coverage fee. First Phosphate’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/

David Erfle of Junior Miner Junky says buy the current boredom and weak sentiment in gold and junior mining stocks amidst strong Q1 miner profits and historically low sector open interest. Erfle argues the recent sideways action after a sharp gold and silver run-up and correction is normal consolidation before another up leg, citing ongoing central-bank gold buying, selling of U.S. Treasuries, stagflation dynamics, and currency debasement risks. He notes that miners are showing relative strength near 200-day moving averages and are benefitting from lower oil prices. David compares undervalued gold equities like Newmont to expensive broader equities, discusses Equinox Gold’s acquisition of Orla and Perpetua’s EXIM Bank loan for the Stibnite project. Erfle emphasizes contrarian positioning, patience, and expecting false moves before breakouts.

00:00 Intro
01:55 Consolidation Not Collapse
04:30 Macro Gold Drivers
07:15 Fed Trap & Valuations
09:29 Equinox-Orla Merger
10:29 Perpetua’s EXIM Bank Loan
10:56 Speculating on Uncertainty
12:16 Novel Mining Methods
13:22 Gold Silver Copper Focus
14:47 Sentiment & Fake-outs
19:43 Buy Boredom Wrap Up

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/

Bill Powers and Brian Leni discuss listener feedback and why shareholders often don’t push back when they are unpleased with management. The duo emphasizes building a disciplined investing process, protecting the downside, and avoiding FOMO. The conversation covers “luck” versus skill, learning from losses, and when to use other investors’/groups’ reputations as decision-making inputs. Brian’s talks about his Aurion investment that ultimately paid off despite timing delays. They also debate director compensation (cash vs options), red flags in board incentives, the power and danger of narrative-driven promotions, conference value (PDAC, Beaver Creek, Quebec City, Rick Rule’s), and avoiding market-timing seasonality.

00:00 Intro
01:18 Shareholder pushback
07:58 Skill vs luck
17:23 Responsibility and timing
23:23 Following smart money
27:20 Aurion takeover
31:24 Director incentives
37:59 FOMO and discipline
41:16 Picking conferences
43:56 Narratives and hype
52:14 Summer outlook

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

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/

MSE host Bill Powers applies Howard Marks’ January 2020 memo “You Bet” to junior mining speculation, emphasizing that decision quality and outcomes aren’t the same because both luck and process drive results. Drawing on Annie Duke’s book “Thinking in Bets,” Powers urges probabilistic thinking, accurate assessment of one’s own skills and being comfortable uncertainty. Marks’ framework distinguishes games by hidden information, luck, and skill. Powers argues junior resource markets are less efficient “alpha markets” where skill does matter. A key lesson is evaluating the “proposition” (odds relative to the price) rather than just picking the “favorite” or “best.” Action items: read the memo, read Duke’s book, and audit recent investments for accurate proposition identification and probabilistic reasoning.

00:00 Mindset Reset
00:31 Howard Marks Memo
02:10 Process Not Outcome
04:34 Thinking in Bets
06:16 Games Luck Skill
08:19 Alpha Markets Edge
09:06 The Proposition
12:02 Nifty Fifty Junk Bonds
14:14 Eight Gambling Lessons
19:57 Second Level Thinking
20:27 Action Items

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

Annie Duke’s “Thinking in Bets”: https://www.annieduke.com/books/

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

Bill Powers is not a licensed financial advisor. 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/