Mining Stock Education

Pro Investor David Erfle describes how western investors have finally rediscovered gold and gold stocks. He shares why silver may be a good reversion-to-mean trade right now. Dave explains how some junior gold stock speculators have capitulated and sold due to the recent volatility. He shares his observation regarding recent junior gold stock sentiment and teaches what he is currently looking for in a PEA-stage gold developer. 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. 0:00 Introduction 0:31 Gold and Silver 5:35 Asians sell gold jewelry 6:28 Trump vs Powell 8:46 Gold exploreCos 10:24 PEA-stage developers 11:45 Selling in a gold bull market 13:21 “Be right, sit tight” 14:13 Resolution Copper 16:05 Junior gold stock capitulation 18:58 JMJ sentiment indicator 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/

Elliott Wave Analyst Mark Galasiewski foresees Gold leading a multi-decade commodities and miners bull market. Bitcoin and info-tech will decline. The U.S. Dollar will fall; but emerging markets will prosper. Interest rates have now entered a long-term rate rising cycle. We are at a great inflection point in which funds will increasingly flow from intangible assets (bitcoin/tech) and into tangible assets (gold/commodities/miners). Mark Galasiewski (gala-SHEV-ski) began his analytical career in 2001, researching fundamentals of listed stocks at an institutional brokerage in Stamford, Connecticut. Since joining EWI, Mark has presented at several investment conferences in Asia and has been interviewed by and featured in major media outlets such as Bloomberg TV Asia, India’s CNBC TV-18 and ET Now, the South China Morning Post, Bloomberg newswire, Dow Jones Asia newswire, Barron’s, Forbes, and Press Trust India. Mark has a degree in East Asian Studies and lived for six years during the 1990s in Japan. He is fluent in Japanese and conversant in Mandarin Chinese. Mark joined EWI in 2005 and has been editor of The Asian-Pacific Financial Forecast since 2008. 0:00 Introduction 4:37 Gold 5:40 Elliott wave principle 13:00 Commodities 23:31 Gold 28:20 Miners 36:40 Bitcoin & Tech stocks 42:26 Emerging markets 46:00 USD 1:01:46 Yuan 1:05:50 Mark’s newsletter Watch the video of this episode here: https://youtu.be/arUxd-Tw4Ro To learn about Elliott Wave and Mark’s newsletter: https://www.elliottwave.com/MSE Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 This episode was not sponsored by Elliott Wave International and MSE has no business or affiliate marketing relationship with Elliott Wave International. 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/

Pro small-cap investor Mark Zaret discusses his investment rationale for two junior gold stocks in his portfolio. He also shares timeless investing wisdom regarding how patience and discipline have yielded him long-term profits on the other side of extreme market volatility. Throughout the interview, Mark shares his approach to small cap speculating which has produced tremendous wealth for himself over the decades. Mark began investing in the early 1990’s and achieved a significant net worth by focusing on Canadian micro-cap companies, especially junior resource stocks. Success was achieved through a disciplined approach of investing primarily in early life-cycle companies with low market caps, high insider ownership, and executive boards with strong credentials. Mark is currently working at Spartan Fund Management as an analyst and strategist in the area of small and micro-cap investing. Be inspired and educated by a 30-year mining stock veteran in this interview. 0:00 Introduction 1:02 Small-cap volatility 7:07 Exit strategy 8:36 Fortune Bay Corp. $FOR.v 28:31 Aurion Resources $AU.v 36:44 Patience and discipline 40:02 Ego and emotions 43:11 “I don’t have a macro view” 46:32 Small-cap anxiety Mark advises the Spartan Fund: https://spartanfunds.ca/spartan-fund/teraz/ Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 None of the stock picks Mark mentioned are MSE sponsors or owned by Bill Powers at the time this episode was published. 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/

GeoPool founder and president Mathias Forss provides firsthand intel about the opportunities and threats in Nordic exploration and mining stocks. His company GeoPool is headquartered in Finland and provides services on a broad scale, from field exploration to permit management and corporate administration. The company connects exploration and mining companies with contractors, stakeholders, landowners, and authorities. GeoPool helps ensure a smooth flow of information between all parties of an exploration project and helps maintain a good relationship with the local communities. 0:00 Introduction 3:29 Nordic mining overview 8:11 Norway jurisdiction 14:44 Norway infrastructure 15:55 Reindeer 18:09 Norwegian exploration 20:25 Norwegian geology 21:43 Refiners 24:30 Sweden 27:02 Sweden & Finland exploration 34:51 Finland permitting process 40:04 Necessary CEO expertise https://geopool.fi/ Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 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/

Private resource investor Sultan Ameerali reveals where he is uncovering ignored value opportunities in the resource sector. He looks for “free upside”, while protecting his downside. And Sultan has identified a mining special situation in which his cost basis is negative, yet his upside is uncapped…truly a rare find. He explains how he discovered and capitalized on this opportunity. In this 1-hour MSE episode, Sultan discusses a range of issues, reveals multiple stock picks and explains his thorough due diligence process to resource stocks. 0:00 Introduction 1:10 Gold focus now 5:05 Shorting mining stocks 8:32 Portfolio allocation 11:28 Finding ignored value 14:13 Carbon credits 16:16 Uncovering asymmetry 18:18 Turnaround track record 20:02 Minera Alamos 25:37 Uranium play 29:45 Silver 33:43 Stock pick 47:02 Balancing skepticism & positivity 52:25 Mining special situation play 1:00:03 Stock pick 1:03:50 Kenorland Minerals Sultan’s Twitter: https://twitter.com/SultanAmeerali Sultan’s Website: https://www.consolidatedrock.com/ Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 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/

Bill Powers and Brian Leni offer junior mining insights about Eric Sprott’s investments, New Found Gold Corp., overpaid CEOs, and much more in this MSE episode. Bill and Brian share why they both passed on investing in $NFG back in 2020. They discuss the ideal junior mining CEO profile and the pros and cons of a junior hiring a lead executive from a larger miner. Brian offers some of his current thoughts on portfolio allocation and exit strategy. Finally, they discuss whether late-stage developers must posture as if they are going to build the mine to receive the proper valuation from the market. 0:00 Introduction 0:53 New Found Gold 5:58 Promotion 12:06 Viewing Eric Sprott’s investments 16:21 CEOs in too many deals 20:44 Corp background CEO: pros & cons 26:49 Portfolio allocation 34:22 Exit strategies 39:59 Must developers posture as mine builders? Brian’s website: https://www.juniorstockreview.com/ 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 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/

Pro Investor David Erfle sees the rotation out of overvalued equities and into undervalued gold stocks happening in real time. He also discusses how he is playing this gold stock bull run, whether Newmont is still the sector bellwether stock, how to apply technical analysis to gold stocks and much more. 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. 0:00 Introduction 0:32 Gold stock rotation 2:55 Stagflation 6:15 Gold producer bellwether 8:22 How to play a gold stock bull run 11:59 Gold stock technical analysis 13:50 Defense production act spurs mining? 22:03 Portfolio management rules 25:13 Risking taking during gold bull run? 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/

Gold stock fund manager and Austrian economist Larry Lepard sees $5,000 to $10,000/oz gold in the next several years. He believes gold stocks present an asymmetrical opportunity for investors. Larry shares some gold stock picks. He also explains the thesis of his new book, “The Big Print” and offers a sound money solution in contrast to the current monetary system. Lawrence Lepard runs Equity Management Associates, LLC, an investment partnership which has focused on investing in precious metals since 2008. Prior to EMA, Mr. Lepard spent 25 years as a professional investor and venture capitalist. From 1991 to 2004 he was one of two Managing Partners at Geocapital Partners in New Jersey which managed six venture capital partnerships, the last of which was $250 million. Geocapital was very active in technology, software and computer investing and invested heavily in the internet starting in 1993. Geocapital was the lead investor in Netcom, Inc., the first internet service provider to complete an IPO in 1996. Prior to Geocapital Mr. Lepard spent 7 years as a General Partner at Summit Partners in Boston, MA. Summit is a large venture capital and private equity firm. He was employee number 4, joining 1 year after Summit was launched. Mr. Lepard holds an MBA with Academic Distinction from Harvard Business School and a BA in Economics from Colgate University 0:00 Introduction 0:55 Larry’s new book: The Big Print 4:56 Sound money solution 17:02 CBDCs 22:34 Bitcoin price 25:20 Asymmetric speculation 29:57 Learn from the smartest person 41:26 Gold and Company Picks Lawrence’s contact info and Twitter handle: llepard@ema2.com https://twitter.com/LawrenceLepard Larry’s Newsletter: http://eepurl.com/gOf1dT 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/

Jacques Bonneau shares tips from his newly published book, “The Art of Investing in Junior Mining” in this MSE episode. He also reveals some junior mining stocks that he currently likes. Jacques Bonneau has over 40 years of experience in the mining industry. He has been involved in all the main stages in the evolution of a mining company, from exploration through development to production. During his career, he rose from field geologist to president of junior mining companies. More recently, he has acted as a consultant, a financial advisor for flow-through funds, a lecturer and a mentor. 0:00 Intro 1:09 Jacques’ background 4:21 Rational investing 6:43 Learning process 12:03 Six golden rules 15:03 Timing buys and sells 18:01 Choosing the right companies 19:59 Non-gold metals investing 22:45 Project vs. People 24:58 Why investors lose 26:07 Discovery probability 30:26 Risk-Reward formula 35:43 Current market opportunities 40:47 Stock picks 45:39 The Art of Investing in Junior Mining To purchase “The Art of Investing in Junior Mining,” go to: https://www.investinginjuniors.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/

In this MSE compilation episode you will hear timeless junior mining stock wisdom concerning corrected investor misconceptions and mining stock mistakes to avoid. The experts featured come from MSE shows dating back to 2018. 0:00 Intro 0:32 Steve Letwin: investor schizophrenia 4:05 Brian Christie: cycle timing 6:14 Rick Rule: self-analysis 9:19 Ross Beaty: long-term view 12:44 Heye Daun: compensation 17:11 Rick Rule: 10-bagger volatility 19:10 Brian Leni: written investment thesis 21:34 Sam Broom: 3 investor mistakes 24:51 Tyron Breytenbach: 2 investor mistakes 26:56 Rick Rule: emotional detachment 29:48 Bill Powers: discern promoter claims Follow Bill on Twitter: https://twitter.com/MiningStockEdu 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/

Bill Powers and Brian Leni share junior mining insights about PDAC, Metals Investor Forum, the multi-bagger process, and much more in this MSE episode. Bill discusses how Brian 20-bagged on Bill’s loss. And Brian reveals how he lost 100% of his capital on a crooked private mining company management group. Other topics debated are whether retail investors must be bag-holders, how IR reps should not pitch companies and how to gain the human intelligence advantage in junior mining speculation. 0:00 Introduction 0:39 PDAC & Metals Investor Forum 2:36 Retail will always bag-hold? 9:32 Initial due diligence process 14:32 Human intelligence advantage 17:57 Reputation matters 23:24 Brian 20-bagged on Bill’s loss 26:57 Brian’s 100% loss on crooked management 31:10 People risk & uncertainty 34:01 Proper IR company pitch 35:47 Pre-production skepticism 40:10 100-bagger process 42:27 “Just hang on to hit the bull market” 44:27 Don’t take credit for being lucky Brian’s website: https://www.juniorstockreview.com/ 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 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/

Fury CEO Tim Clark and QPM CEO Normand Champigny, along with Fury SVP Exploration Bryan Atkinson, explain why Fury acquiring QPM makes sense for the shareholders of both companies. Bill Powers conducted the interview at PDAC 2025. Tim Clark, CEO of Fury, commented: “This Transaction is an exciting opportunity given it doubles Fury’s land package in the Eeyou Istchee territory in the James Bay Region of Quebec and unites complementary assets, teams, and investor bases which should ultimately increase shareholder value at both companies. Combining QPM’s gold and critical minerals portfolio of exploration projects with Fury’s projects and strong balance sheet will not only help improve cost efficiency but also add to the potential for new discoveries.” Normand Champigny, CEO and Director of QPM, commented: “We are very pleased to be entering this combination with Fury. By combining with Fury, QPM’s shareholders will benefit from the synergies and cost savings of leveraging the combined company’s excellent management team for funding and obtaining required permits to continue drilling at Sakami. We believe that the Transaction with Fury offers for QPM shareholders a high potential for share price appreciation in the current gold market environment. The Transaction demonstrates the progress made with our exploration work to date. Fury has the ability to rapidly advance our assets to identify a large gold mineral resource.” Sponsor: https://furygoldmines.com/ Ticker: FURY Quebec Precious Metals: https://www.qpmcorp.ca/en/ Press Releases discussed: https://furygoldmines.com/fury-gold-mines-limited-to-acquire-quebec-precious-metals-corporation/ 0:00 Intro 0:51 Rationale for Fury’s acquisition of QPM 2:53 QPM’s Sakami gold project 3:47 QPM’s Kipawa REE project 5:17 Fury to “focus on gold in James Bay” 6:31 Normand Champigny will be Fury advisor 7:19 Eleonore South drilling ongoing 7:43 Major interest in Committee Bay project 8:18 BMO & PDAC: “a lot of excitement” Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 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/

Ivan Bebek, Chair and CEO, commented, ““Drilling to date has been completed under budget and on time, and is continuously providing valuable insights into our thesis that a large, mineralized skarn system could be present. Our knowledge of the controls of the system and the vectoring towards key mineralized areas of the skarn continues to improve, while programs have also identified new robust targets for discovery. The identification of the Tipicancha and Antapampa targets are significant as they also offer prospective targets with scale for considerable copper-gold discoveries at Sombrero. With a 100,000-hectare land position, we have barely scratched the surface of this district.” Coppernico has successfully completed approximately 7,100 m of drilling to date having recently commenced hole 18, with ongoing work focusing on key targets within the Ccascabamba target area. Sponsor: https://coppernicometals.com/ Press Release discussed: https://coppernicometals.com/coppernico-provides-update-on-drilling-and-new-epithermal-and-skarn-targets/ TSX:COPR; OTCQB: CPPMF 0:00 Intro 0:39 “We found two more skarn targets” 1:58 “Next three holes are the most exciting” 3:46 Market commentary 5:40 New targets 6:40 Ivan looking to buy copper projects 8:29 Exploration pace 10:07 Treasury management 11:41 “Timing of discovery is so critical” Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 Sponsor Coppernico Metals pays MSE a United States dollar seven thousand per month coverage fee. 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/

“If you just appreciate what this sector does once momentum gets started. Look at any historic junior chart, once momentum starts it just feeds on itself. What is weird is that it has not really happened; not even gold to three thousand [dollars] has been able to do that. I also think it points to how irrational this sector is. And it is all about momentum,” says private investor Erik Wetterling in this MSE episode. Erik, furthermore, shares his current views on the junior mining sector and how he is managing his portfolio. 0:00 Introduction 0:55 Junior mining value opportunities 5:53 When will gold stocks respond? 14:18 Fort Knox gold audit 18:42 Speculation in non-gold metals 21:54 Separating signal from noise 27:06 PDAC expectations 31:44 Networking necessity 34:21 Stock picks 39:17 Why retail loses money Erik’s website: https://www.thehedgelesshorseman.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/

Pro Investor David Erfle sees a “totally different gold stock bull market” in 2025 when compared to his experience in the 2000s. He also analyzes Equinox Gold’s purchase of Calibre Mining. Other topics discussed are gold stock seasonality, Newmont’s Q4 earnings and what David looks for in growth-oriented producers. 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. 0:00 Introduction 0:27 Equinox Gold buys Calibre Mining 4:22 Growth-oriented producers 7:34 Discovery Silver 9:58 Newmont’s Q4 earnings 12:25 Gold stock inflow catalyst 14:25 Gold stock seasonality 18:00 Fort Knox gold 20:52 Silver price 23:18 “Totally different bull market” 27:29 Need for 10+-baggers 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/

Joe Mazumdar of Exploration Insights reveals how he is safely playing the antimony bull run. He comments on Barrick’s potential redomicile to the USA. And Joe talks about the resource sector significance of President Trump’s executive order directing the Justice Department to pause prosecutions of Americans accused of bribing foreign government officials while trying to win or retain business in their countries. Also, further topics discussed are why ASX African projects are valued higher than TSXV comparables, Discovery Silver’s recent Porcupine Complex acquisition from Newmont and how managed money operates in the mining sector. Joe Mazumdar is editor and analyst at Exploration Insights. Joe has an extensive, multi-decade background in working for both mining companies and the financial institutions that cover and invest in mining equities. He possesses an excellent understanding of geology, the process of exploration and development, and what it takes to run and finance a mining company. 0:00 Introduction 0:46 Barrick’s potential redomicile to USA 4:24 Antimony catalyzes Stibnite Gold project permitting? 9:34 Safely profit from antimony bull run 11:27 Bribes and global mining 15:20 ASX Africa valuations higher 17:33 Discovery Silver acquires Newmont’s Porcupine Complex 19:10 Newmont’s project overhang gone…Developer re-rate now? 20:47 Resource sector Smart vs Dumb money 25:12 Mining sector managed money 31:23 Africa trip reflections Joe Mazumdar’s website: https://www.explorationinsights.com/ Follow Joe on Twitter: https://twitter.com/JoeMazumdar 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/

Kenorland Minerals CEO Zach Flood describes the proven gold discovery machine he and his team have developed over the past nine years, in this MSE episode. Zach explains how the company has demonstrated the ability to discover in a “best-in-class” capital efficient manner. Kenorland is a cash-generating and partner-funded exploration company, which provides significant and low-risk exploration upside for investors. Seasoned investors, such as Rick Rule, believe that Kenorland’s market cap is justified alone by the value of the 4% NSR the company holds on its Regnault gold deposit discovery in Quebec which Sumitomo Metal Mining now owns outright. Therefore, according to Rick, investors get for free all the upside of partner-funded exploration across Kenorland’s multiple projects. Rick Rule publicly endorsed Zach Flood and Kenorland Minerals at the 34:32 mark during his January 8th, 2025 Rule Investment Media livestream. Kenorland looks to identify gaps in exploration maturity within prospective districts based on large scale compilation and integration of geological, geochemical and geophysical data. Kenorland’s management team and advisors have extensive experience in project and target generation from continent-wide area selection to deposit scale exploration across the globe. Combining the team’s extensive exploration experience with an integrated approach places Kenorland in an optimal position to generate shareholder wealth through JV partnerships, generated royalties, equity positions and new discoveries. https://www.kenorlandminerals.com/ TSXV: KLD | OTCQX: KLDCF | FSE: 3WQ0 0:00 Intro 1:28 Business model 4:49 Frotet project 4% NSR royalty 6:49 Upside leverage KLD offers shareholders 8:23 Exploration strategy 10:55 GeoChem surveys generate targets 12:56 2025 $36M exploration budget 13:51 Best-in-class capital efficiency 16:47 Frotet project milestones 20:07 Share structure 21:51 South Uchi project 26:50 South Uchi KLD shareholder upside 28:27 KLD numerous projects 31:10 KLD in seven years Rick Rule’s endorsement of Zach Flood and Kenorland Minerals starts at 34:32 in this Jan 8th, 2025 Rule Investment Media Livestream: https://www.youtube.com/live/yyP9Zd2xzdo?t=2072s Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 Sponsor Kenorland Minerals pays Mining Stock Education a United States dollar ten thousand per month coverage fee. Bill Powers owns no Kenorland shares at the time of this publication and will not initiate a position within five trading days of this publication. Kenorland'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/

Fund manager Josh Young reveals his newest oil stock pick and explains why oil bulls likely will win in 2025 in this MSE episode. Josh Young has been professionally investing in publicly traded oil and gas securities for nearly two decades, achieving benchmark outperformance as Bison’s CIO. Josh possesses a deep understanding of the E&P business model and operating environment, with notable experience as Chairman of Canadian E&P company RMP Energy (rebranded as Ironbridge Resources). Under Josh’s leadership, the company achieved a successful turnaround, outperforming peers and ultimately being acquired at a 78% premium. Josh is the author of numerous articles on oil & gas investments and is a frequent guest speaker at various energy industry conferences. Prior to Bison, Josh began his career as a management consultant for Fortune 500 companies and private equity firms. He later worked as an investment analyst for a private equity fund and served as an energy investment analyst at a multi-billion-dollar single-family office, which was nominated as Institutional Investor’s Single Family Office of the Year in 2008. Josh holds a B.S. in Economics with honors from the University of Chicago. 0:00 Intro 1:08 Off- Shore Drilling's effect on US Production 4:41 Tariffs effect on Canadian Oil Companies 8:42 US Strategic Reserves 12:19 Higher oil prices vs cost of living 16:55 “Oil prices are so suppressed” 17:53 Peak US production? 23:11 Nat Gas Investments 26:30 New stock pick 32:00 Cash to Debt Ratio 36:08 Time to buy optionality in the oil market 43:30 Biggest lesson learnt last cycle 50:37 Bison portfolio biggest risk https://bisoninterests.com/ https://x.com/Josh_Young_1 Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 This interview was not sponsored. 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/

Fund manager Dave Kranzler reveals three junior mining stock picks in this MSE episode. He also discusses the impact of tariffs on the gold price and why the Federal Reserve recently paused rate cuts. Dave is the editor of the Mining Stock Journal. He returns to the program to provide his commentary on precious metals and reveal some junior gold stock picks. Dave holds an MBA from the University of Chicago with a concentration in accounting and finance. Over the years he has worked in various analytic and trading jobs on Wall Street. For nine years of those years he traded junk bonds for a large bank. For the past 16 years, Dave has been an avid student of the precious metals markets and steadfast proponent of holding physical gold and silver in one’s portfolio. Currently, he co-manages a precious metals and mining stock investment fund in Denver. Dave’s stated goal is to help people understand and analyze what is really going on in our financial system and economy. 0:00 Introduction 0:28 Tariffs and gold price 6:04 FOMC circus 9:17 USA mining boom? 13:00 Stock pick #1 18:03 Stock pick #2 24:21 Stock pick #3 31:35 Dave’s largest holding 36:10 Mining requires patience https://investmentresearchdynamics.com/ Sign up for our free newsletter and receive interview transcripts, stock profiles and investment ideas: http://eepurl.com/cHxJ39 None of the companies Dave mentions in this interview are MSE sponsors or owned by Bill Powers. 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/

Mining Equity Analyst Vukasin Pekovic shares his bottom-up approach to uncovering junior mining stock gems in this episode. Vukasin shares how he values junior miners, mitigates risk and views management compensation. He concludes by sharing several junior mining stock picks. 0:00 Introduction 0:55 Where to deploy money? 3:15 Metal agnostic? 5:31 Jurisdictional risk 8:35 Valuing explorecos 12:19 Prospect generators 17:01 Risk Mitigation 23:03 Board of directors’ importance 28:50 $NEM sells Porcupine Complex to $DSVSF 30:53 Options Compensation 33:18 Mining stock picks 42:51 How to follow Vukasin Follow Vukasin at: https://x.com/VukasinPekovic Vukasin is an analyst with: https://independentspeculator.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/