Mining Stock Education

Bill Powers and co-host Brian Leni get together for their monthly Junior Mining Insights talk. Silver has come back from about $115 to around $50, and the gold price has recently been trading below $4,000. The Fed and the Bank of Canada have both raised rates. Bill and Brian talk about why moments like this reward contrarian investors, how to stay disciplined on both the buy side and the sell side, and what Brian saw on his recent site visit to Element29 Resources’ Elida copper project in Peru. Bill and Brian also talk about lessons from an investor that turned $20k into $3M in a matter of weeks in 2020 contrasted with another speculator who turned a realized 20-bagger into zero. Listen and enjoy!

00:00 Intro
00:17 Silver Cycle Reset
02:45 Tax Loss Selling
04:19 Staying Confident
08:20 Selling Discipline
12:38 Timing the Next Leg
14:42 $20k to $3M
19:54 20-bagger to Zero
21:16 Overallocation Lessons
23:19 Financing Quality Signals
25:46 Who You Raise From
33:23 E29 Peru Site Tour
41:28 Peru Politics Risk
49:07 Ross Beaty’s jurisdictional long-term mindset

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 are not licensed financial advisors. Sponsor Element 29 Resources pays MSE a United States dollar ten thousand per month coverage fee. The forward-looking statement disclaimer found Element 29’s most-recent company slide deck found at https://www.e29copper.com/ applies to everything mentioned in this episode. 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/

First Phosphate (NASDAQ: PHOS | CSE: PHOS) CEO John Passalacqua returns to Mining Stock Education. About two and a half months after its NASDAQ debut, the stock is roughly 40% below its all-time high and sitting on its 200-day moving average. John explains why the sell-off doesn’t worry him: the company has more than $40 million in cash and non-repayable government funding, which takes it to a final investment decision. On top of that, about $400 million of the estimated $500 million capex is already on the table from two sovereign nations. He also explains why he thinks this kind of sovereign backing is starting to “bust the Lassonde curve” for critical minerals projects.

00:00 Intro
00:46 Show Intro and Selloff
01:42 Macro Fears October Volatility
02:49 Why Corrections Create Value
03:55 Cash Runway to Feasibility
04:52 Sovereign Funding and G7
06:01 Filling the Final Gap
08:05 Execution De Risking Plan
09:34 Mine Plus Processing Vision
10:06 Buffett Tide Metaphor Returns

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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/

Midnight Sun Mining VP Adrian O’Brien discusses a major milestone for the company’s Dumbwa copper project in Zambia’s Domes Region — 12 kilometers of confirmed strike length and a Northern Block that has expanded to over 2.4 kilometers wide east-to-west.

Adrian explains the Phase One program: nearly 100,000 meters drilled in 12 months, one of the most aggressive junior exploration programs in recent memory. He addresses the painful lab delay issue candidly — 5,000 samples in backlog, Intertek’s equipment and power failures in Zambia, samples rerouted internationally — and makes the case that the logjam is finally breaking.

He distinguishes what Phase Two looks like: targeted rather than broad-brush, surgical infilling, deeper step-out drilling to 600–700 meters, and an extension drive into the newly acquired Mulundu License to the north.

Key points covered: current treasury of $6–8M plus expected warrant exercises; drilling cost of just US$165/meter all-in (vs. US$500–1,000/meter in Nevada); the Kazhiba oxide asset monetization process still underway; and why the geological fundamentals — Lumwana analogue, near-surface mineralization, world-class address flanked by Kansanshi and Lumwana — remain intact despite share price pressure.

00:00 Intro
01:09 Discovery Context Scale
03:06 Phase Two Results Meaning
04:11 Resource Update Plan
05:41 Analyst Reactions
06:48 Stock Disconnect Assays
09:27 Lab Delays Explained
10:28 Upside New Targets
13:55 Treasury Phase Strategy
15:31 Phase Two Drill Costs
16:12 Phase Two Goals Deep Test
19:39 Funding Non-Dilutive Options
20:20 Investor Questions Wrap

https://midnightsunmining.com/
TSXV:MMA OTCQX:MDNGF

Press release discussed: https://midnightsunmining.com/2026/midnight-suns-dumbwa-copper-deposit-more-than-doubles-in-width-to-over-2-4-km-in-northern-block/

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Sponsor Midnight Sun Mining pays MSE a United States dollar ten thousand per month coverage fee. The forward-looking statement disclaimer found in Midnight Sun’s most-recent company slide deck found at www.MidnightSunMining.com applies to everything discussed in this interview. Bill Powers will not buy any MMA.v shares until five trading days after MSE’s initial 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/

Josef Schachter has spent 40 years in the Canadian investment industry and runs the Schachter Energy Report. He’s watched energy super cycles since the 1970s, and he joins Bill Powers to explain why he thinks the current one, which began in March 2020, could last until 2034–2036. He covers his WTI forecast of $90 for 2027, why he sees oil going past $150 and eventually $200, the natural gas setup for next winter, and why Canadian producers trading at 2–3x cash flow may be the value play of the cycle.

00:00 Show Introduction
00:32 Oil Supercycle History
02:48 Current Cycle Signals
04:36 Canada Oil Gas Divide
05:15 Politics and Pipelines
06:54 Bull Case Risks
07:38 Venezuela Supply Reality
09:01 Demand Beyond Driving
10:45 2036 Price Targets
12:20 Natural Gas Bull Thesis
13:39 How to Forecast Gas
15:10 Best Nat Gas Plays
16:09 Picking Winning Producers
17:09 Valuation and Reserves
20:09 Final Thoughts

Schachter Energy Report: https://schachterenergyreport.ca/

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. 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/

Simon Catt is an Australian resource investor, investment banker, and the writer behind CattCalls.com. As a first time MSE guest, he talks about his early wins and painful losses that shaped how he invests in mining stocks today. Simon shares his rules for selling, and why he thinks this commodity super cycle has years left to run. Listen to the wisdom from this 40-year veteran of junior mining stocks!

00:00 Intro
00:35 Meet Simon Catt
01:08 Early Life and First Crash
04:12 Striker Diamonds Breakout
05:11 Losing It and Hard Lessons
06:48 Learning the Trade
08:52 Highcroft Case Study
12:40 Top-Down Investing Framework
14:33 Thesis Letters and Taking Profits
18:05 Exit Strategy and Takeovers
25:57 Macro Outlook Supercycle
30:04 Politics and US Critical Metals
31:38 Blue Moon Tungsten Pitch
35:34 Where to Follow Simon

https://www.cattcalls.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. 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/