Mining Stock Education

Bill Powers and co-host Brian Leni sit down for their monthly Junior Mining Insights chat to discuss how to discern ‘margin of safety’ in early-stage junior miners. Other topics include identifying retail investor mass psychology, junior mining stock IPO dynamics, jurisdictional risks with First Nations even after permit issuance and much more. Refine your investment process as you listen to two full-time junior resource investors reflect on their past month of junior mining musings.

00:00 Intro
00:24 Margin of Safety Debate
02:28 Management and Valuation
05:57 Macro Timing Vs Value
08:39 IPOs And Retail Risk
13:55 Nasdaq Uplisting Upside
19:20 Seabridge KSM Shock
20:44 First Nations Risk Lens
28:41 Negotiation or Real Opposition
32:37 Permitting and Opposition
34:00 Metallurgy Due Diligence
37:21 Regulation Versus Enforcement
39:29 Marketing over Geology?!
44:06 Views and Mass Psychology
52:19 Timeless Content and Emotions
56:00 Networking and Mentors

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 are 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/

Atomic Eagle CEO Phil Hoskins stated: “Re-establishing our interest in Madaouela represents a transformational outcome for Atomic Eagle significantly increasing our resource base and adding a second advanced uranium project to our project portfolio. Madaouela is a large, high-grade uranium asset supported by an extensive body of historical work, and we see clear opportunities to further define and optimise the Project’s development potential. This agreement has been achieved through constructive engagement with the Government of Niger and delivers a strong, commercially balanced outcome following a period of dispute. I would like to thank Niger’s Minister of Mines, His Excellency Colonel-Commissioner Abarchi Ousmane and his team for sharing our commitment to finding a mutually beneficial solution to the historical dispute.”

Atomic Eagle has agreed terms of a mining convention with the Republic of Niger to re-establish its interest in the Madaouela Uranium Project, which hosts a Mineral Resource of 116.5Mlbs U₃O₈ (Canadian NI43-101 estimate). The addition of the Madaouela Project, alongside a 58.8Mlbs U₃O₈ JORC Mineral Resource at AEU’s flagship Muntanga Project in Zambia, establishes a dual-asset uranium development platform with materially increased scale and portfolio depth. Supported by extensive historical drilling and prior technical studies, Madaouela provides a substantial foundation for further evaluation and optimisation, while increasing the Company’s flexibility to pursue a range of development, funding and strategic pathways

00:00 Intro
00:33 Madaouela Update
01:11 Negotiations Success
02:55 Ownership Terms
04:38 Valuation Impact
06:11 JORC Conversion Plan
07:59 Two Project Strategy
09:48 Permitting Timeline
10:50 Political Risk
12:46 Cash and Options
13:49 OTCQX Expansion

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

Press Releases Discussed:
https://wcsecure.weblink.com.au/pdf/AEU/03124575.pdf
https://wcsecure.weblink.com.au/pdf/AEU/03124577.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/

Dr. Neil Adshead shares insights on how he evaluates early-stage junior mining stocks in this MSE episode. Listen to this wide-ranging conversation on what separates good exploration geologists from great ones, how prospect generators navigate a shift toward drilling their own projects, what makes a JV deal structure investor-friendly, and how Neil evaluates jurisdictions like Nevada, James Bay, and the Golden Triangle. Dr. Adshead also shares his views on billion-dollar capex copper projects, the role of infrastructure in project economics, and the portfolio discipline that has shaped his 20+ years on the buy side.

Neil Adshead is an economic geologist, who incorporates his extensive theoretical and practical experience in mineral deposit geology, mineral exploration and mining into investment-related decision-making. After earning a Ph.D. in Economic Geology in 1995, he spent ten years working for Placer Dome subsidiaries – at the time, one of the largest mining companies in the world – in Canada, Australia, and Papua New Guinea. For the seven-plus years sandwiched between Placer Dome and Sprott, Neil worked as the Vancouver-based senior mining-exploration analyst for a San Francisco-based investment firm. Currently, he is a consulting geologist to the Commodity Discovery Fund.

00:00 Intro
00:44 Great Exploration Geologists
02:20 Analyst Versus Geologist
04:26 Traits of Top Analysts
06:58 Neil’s Career Shift
09:27 Beyond Geology Business
11:02 Marketing Moves Shares
14:49 Prospect Generator Pivots
18:45 Trust Communication Use
21:14 JV Deal Structure Keys
24:41 Jurisdiction Prospectivity Nevada
27:32 Unorthodox Exploration Bets
27:44 James Bay Upside
28:49 Golden Triangle Potential
30:07 BC Politics Reality Check
32:31 Funding Billion Capex
36:06 Marginal Copper M&A
40:29 Infrastructure Matters
44:51 Conviction and Doubt
46:33 Position Sizing Discipline
48:42 Patience After Big Wins

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/

Midnight Sun Mining VP Adrian O’Brien explains how an initial high-resolution ground magnetic survey on its wholly owned Dumbwa copper deposit, located in Solwezi, Zambia, has identified multiple new exploration targets outside the previously defined and drilled mineralized corridor.

Midnight Sun’s COO, Kevin Bonel, stated: “We are encouraged by how effectively this ground magnetic survey has enhanced our understanding of the structural architecture of the Dumbwa deposit and its relationship to higher-grade mineralized zones. Importantly, the survey has allowed us to ‘fingerprint’ the magnetic signature associated with the Central higher-grade block and identify several analogous targets east of the main mineralized corridor. These targets will be prioritised for future drill testing and provide a compelling opportunity to identify significant additional copper mineralization and further expand Dumbwa’s rapidly growing footprint.”

00:00 Intro
00:39 Mag Survey Breakthrough
02:40 Thesis Proven
04:25 Fingerprint Targeting Explained
06:40 Phase Two Data Push
09:05 Phase Two Drill Strategy
11:03 Big Picture and Exit Plan
14:31 Catalysts

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

Press release discussed: https://midnightsunmining.com/2026/high-resolution-ground-magnetics-unlocks-new-drill-targets-at-dumbwa/

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

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/

In this episode, host Bill Powers interviews critical metals expert Tomasz Nadrowski to discuss the significance of the U.S. Government’s recent historic roundtable with the mining industry. At the gathering, President Trump announced over $2 billion in critical mining and mining-related projects to revitalize the industry and over $180 million in mining school investments to bolster the American mining workforce. Tomasz is the author of “Mineral War: China’s Quest for Weapons of Mineral Destruction.”

00:00 Intro
00:43 White House Minerals Push
01:14 Workforce Crunch Timeline
03:08 Resolution Copper and Projects
04:31 How Funding Gets Chosen
05:06 Market Signals and Investors
06:42 FORGE Price Floors
07:55 Export Controls and Recycling
09:00 Government Due Diligence
09:58 Scandium Bet Explained
11:33 Graphite and Offtake Risk
13:41 Greenland Reality Check
15:03 Fund Edge and DLE View
16:54 Metallurgy and Midstream
20:33 Getting Generalists Involved

White House Fact Sheet Discussed: https://www.whitehouse.gov/fact-sheets/2026/08/fact-sheet-president-donald-j-trump-announces-billions-in-new-deals-and-investments-to-power-american-mining/

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

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/