The Hole Truth: Mining Investment Podcast

Thunderbird Resources (ASX: THB) offers huge leverage to gold and antimony in Australia, with a market cap of just $4 million and drilling programmes being planned. Executive Chairman George Ventouras, has over 15 years’ experience in the resources sector and over 30 years’ experience in business development, corporate restructuring and marketing. He has managed multiple businesses in various industries and has served as a Non-Executive and Executive Director on various ASX listed Companies and has led IPO teams. Previously, he was joint-founder, non-executive director and General Manager of Apollo Consolidated Ltd, an ASX listed exploration company which was the subject of a successful $180 million takeover.   -----   Produced by Resource Media   -----   The Hole Truth: Mining Investment Podcast is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.  RESOURCES LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcast YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC&si=iOcGscff7kMSw8c7 Website: https://resourcesrisingstars.com.au/the-hole-truth-podcast/ Instagram: https://www.instagram.com/theholetruthpodcast/ 

Sipa Resources (ASX: SRI) has started drilling at its new South Australian gold projects. The projects already host known mineralisation and are located close to other well established big deposits. The company is poised for strong news flow as it moves the rigs from one area to the next. Managing Director Andrew Muir, is a highly regarded mining executive with approximately 30 years’ experience in the mining and finance industries, originally graduating as a geologist in 1993. Andrew has a strong background in gold exploration and geology, coupled with deep project evaluation and corporate experience. Previously, he held the role of Managing Director at NTM Gold Ltd (ASX: NTM) where he was responsible for significant exploration success prior to the takeover of NTM by Dacian Gold Limited, and most recently at Caprice Resources Limited. Mr Muir is an experienced geologist with time spent across both exploration and mining operations. He was instrumental in the discovery of the multi-million-ounce Wallaby deposit while at the Granny Smith operations, and has previously worked with Great Central Gold Mines, Placer Dome and Goldfields Limited. Along with his successful career in mining and exploration, Mr Muir also has extensive experience in equity capital markets including at Argonaut, where he was an Associate Director with Argonaut’s Corporate team. He was also a resource analyst for JP Morgan, Hartleys and PCF Capital. As an analyst at Hartleys, Mr Muir won the 2009 Starmine/AFR Stockpicker of the year award. ---- Produced by Resource Media ---- The Hole Truth: Mining Investment Podcast is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.    ---- RESOURCES LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcast YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC&si=iOcGscff7kMSw8c7 Website: https://resourcesrisingstars.com.au/the-hole-truth-podcast/   INSIGHTS FROM THE EPISODE Drilling Begins at Sipa’s High-Potential South Australian Gold Projects Sipa Resources has kicked off drilling at Nuckulla Hill, targeting historic gold prospects with significant past intercepts and no exploration in nearly 30 years. Strategic Location Near Tunkillia and Challenger Gold Deposits The projects sit on the same shear zone as Barton Gold’s 1.5Moz Tunkillia deposit, offering strong geological continuity and exploration upside. Crown Project Near Kalgoorlie Offers Quick Path to Monetisation Located just 40km from the Lakewood Mill, the Crown Project in WA allows for potential toll treatment or gold sales without needing a major standalone discovery. Experienced Leadership Team Aligned with Shareholders With a board including Stephen Biggins (Core Lithium founder) and MD Andrew Muir, Sipa blends geology, corporate finance, and commercial strategy. Low-Cap Gold Explorer with High Leverage to Discovery With a sub-$10 million market cap and active drilling underway, Sipa offers significant leverage to exploration success in Tier-1 jurisdictions.  

Firetail Resources (ASX: FTL) has just secured two outstanding gold projects in the US. It's another example of ASX companies unlocking the value of dormant North American projects. Some of the drilling results are absolutely spectacular and would win huge support if they were in Australia. Firetail plans to follow a well-worn path by applying its experienced people and capital to these projects to unlock their full value.   Firetail Resources Managing Director Glenn Poole is a geologist with a proven track record in revitalising mineral assets for ASX-listed companies. He has held senior roles at Greenstone Resources, Firefly Resources, Northern Star and Superior Gold. Glenn holds a BSc in Geology from the University of Otago and an MBA from La Trobe University. ----   Produced by Resource Media ----   The Hole Truth: Mining Investment Podcast is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.  ---- RESOURCES LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcast YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC&si=iOcGscff7kMSw8c7 Website: https://theholetruth.podbean.com ---- INSIGHTS FROM THE EPISODE Firetail Resources secures high-grade gold projects in Nevada and South Dakota— both with strong historical data and underappreciated potential due to limited market support in North America.   Excelsior Project in Nevadadelivers standout drill results (e.g. 33m @ 5g/t, 50m @ 4g/t) with shallow mineralisation and potential for rapid JORC resource definition by year-end.   Bella Project in South Dakotalies along the same trend as the world-class Homestake deposit (42Moz @ 8.5g/t), with early signs of significant gold mineralisation across multiple high-grade trends.   Firetail’s technical leadershipincludes veterans from Northern Star, Bellevue, and Spartan — bringing a proven track record in brownfields gold exploration and rapid project advancement.   Strategic pivot to North Americareflects a broader ASX trend of junior explorers capitalising on undervalued gold and copper assets across the US and Canada.

Ausgold (ASX: AUC) has just tabled the DFS on its Katanning Gold Project in WA. The study shows the project will generate very strong financial returns and the resource has strong scope to continue growing the inventory and mine life. John Dorward has over 25 years of experience in the mining and finance industries. Mr Dorward was the CEO of TSX-listed gold producer Roxgold Inc. from 2012 to 2021, where he led the construction of the Yaramoko Gold Mine in Burkina Faso from maiden resource through to production, before Roxgold was acquired by Fortuna Silver Mines Inc. in 2021 for US$884 million. Mr Dorward’s earlier roles include Vice President of Business Development at Fronteer Gold, a TSX and AMEX-listed mining company with gold and uranium projects in USA, Canada and Turkey, where he was instrumental in negotiating its acquisition by Newmont Mining Corporation for $2.3 billion in 2011. Mr Dorward also previously served as CFO of ASX and TSX-listed gold company Mineral Deposits Limited and ASX-listed gold producer Leviathan Resources Limited, and was a senior executive with ASX-listed gold and nickel producer MPI Mines Limited. He is currently a non-executive director Surge Copper Corporation and Taura Gold.   ---- Produced by Resource Media ---- The Hole Truth: Mining Investment Podcast is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.  RESOURCES LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcast YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC&si=iOcGscff7kMSw8c7 Website: https://theholetruth.podbean.com

Silver is hot and Andean Silver (ASX: ASL) is one of the few ASX listed companies offering substantial exposure to the metal. The company already has a sizable resource and drilling results show that it is poised for substantial growth. This is against a backdrop of extensive M&A action in the silver space and more-and-more of the North American institutions are coming on the Andean register.   Tim Laneyrie, Chief executive Officer at Andean Silver is a geologist with 19 years’ industry experience. His most recent position was in business development at Northern Star (ASX:NSE), where he conducted evaluations on potential project acquisitions and asset divestments, notably the Saracen/Northern Star merger and Super Pit acquisition. He has also held senior positions with Saracen Minerals.   ----   INSIGHTS FROM THE EPISODE: Significant Resource Growth and Drilling Success Since acquiring the Cerro Bayo project 18 months ago, Andean has grown its silver equivalent resource by 340%, reaching 111Moz. Ongoing drilling, including brownfields and new vein discoveries, points to substantial upside and continuous growth potential.   North American Interest and M&A Potential There's growing corporate interest from North American silver companies looking to acquire permitted assets with infrastructure. Andean is on their radar, with major institutions increasingly taking positions on the register and building internal valuation models.   Undervalued Relative to Global Peers Andean believes its current market cap (~A$165M) significantly undervalues the resource. Applying average North American deal metrics (~US$1.50–$14/oz), the project could justify a valuation of ~$340M+, especially considering its existing mill and permits.   Silver and Gold Combo Driving Appeal The project contains both silver (47Moz) and gold (nearly 800koz), making it a highly attractive dual-commodity asset at a time when both metals are performing strongly. Analysts have set target prices near $3/share, nearly triple the current share price. ---- RESOURCES LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcast YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC&si=iOcGscff7kMSw8c7 Website: https://theholetruth.podbean.com   ---- Produced by Resource Media ---- The Hole Truth: Mining Investment Podcast is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. 

Sun Silver (ASX: SS1) positions itself as the most leveraged silver stock on the ASX. The company’s Maverick Springs Project already has a very big resource with scope to continue growing while upgrading the inferred resource to indicated status, carrying out metallurgical studies and preparing for a scoping study. ---- Produced by Resource Media ---- The Hole Truth: Mining Investment Podcast is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.    RESOURCES LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcast YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC&si=iOcGscff7kMSw8c7 Website: https://theholetruth.podbean.com NOTABLE INSIGHTS 1. Sun Silver is the most leveraged silver play on the ASX Sun Silver owns the largest primary pre-production silver asset in the US, Maverick Springs, with a resource of 480Moz at 68.29g/t. Despite this, the company trades at just $0.16 per in-ground ounce, compared to ~$1 on the ASX and ~$2 on North American exchanges — highlighting a significant valuation gap and investment opportunity. 2. Silver demand is booming — and supply can’t keep up The silver market is in supply deficit, driven by increased demand from solar panels, AI data centres, and solid-state batteries (which could alone require up to 150Moz/year by 2030). Silver’s dual role — as an industrial metal and monetary hedge — is gaining traction, with growing recognition of its critical role in green energy and economic uncertainty. 3. Parallel workstreams are accelerating project value Sun Silver is advancing infill drilling, metallurgical testing, and resource expansion simultaneously. A second near-surface resource is expected soon, enabling possible early revenue and reducing pre-production capital costs. A scoping study is targeted for Q2 2026, assessing multiple processing routes to maximise recovery and value. 4. The ASX still undervalues silver — but that may change fast Australian investors are still warming up to silver, much like they were with lithium a decade ago. Dornan believes silver will eventually be classified as a critical mineral, and as awareness grows, capital will follow the opportunity, especially with a supportive silver price environment and growing M&A activity in the sector.

Flynn Gold (ASX: FG1) has recently unveiled some highly promising results at the Grenadier Prospect which sits within the Golden Ridge Project in Tasmania. The results suggest it could be on to a significant discovery. The company has a market cap of just $12 million and many followers believe the area is an extension of the rich goldfields which hosts the $1.5 billion Southern Cross discovery. ---- Produced by Resource Media ---- The Hole Truth: Mining Investment Podcast is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.     

The hunt is on for copper stocks which have not already run hard. Those with some gold, a resource and a proven management team are particularly sought after. In this episode, we speak to one such company which appears to tick all the boxes investors are now looking for. ---- Produced by Resource Media ---- The Hole Truth is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. 

PhosCo owns the big Gasaat phosphate project in Tunisia. After years of hard work behind the scenes, Gasaat looks set to have its day in the sun, with an important drilling program about to start followed by a BFS. PhosCo's strategy to create huge value is simple: Establish Gasaat as a world-scale phosphate project which generates vast wealth for the local community, Tunisia and shareholders alike.    ---- Produced by Resource Media ---- The Hole Truth is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. 

Minerals 260 (ASX: MI6) has acquired the Bullabulling Gold Project in WA. It has a 2.3 million ounce resource but that all lies within 50 to 100 metres of surface. The company has just started an 80,000 metre drilling programme to grow this resource at depth and along strike. ---- Produced by Resource Media ---- The Hole Truth is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. 

Javelin Minerals (ASX: JAV) has two brownfields gold exploration projects near Kalgoorlie in WA. Both have established JORC resources and the company has active drilling programmes at each one. Both projects have been exposed to little or no modern exploration, have opened mineralisation and numerous targets to test. ---- Produced by Resource Media ---- The Hole Truth is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. 

Saturn Metals (ASX: STN) is developing a big heap leach gold project in WA’s eastern goldfields. The project has very low CapEx and OpEx forecasts giving it very strong cash margins and fast payback times. It will use well known technology and mining approaches to produce more than 120,000 ounces of gold a year. ---- Produced by Resource Media ---- The Hole Truth is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. 

There are now half a dozen reasons to believe that Patriot Battery Metals (ASX: PMT) may be a classic counter cyclical investment opportunity. Changing technology, geopolitical disputes that could open the door to growing demand for non Chinese lithium and battery chemicals and the fact that the share price has been sold off with other lithium stocks means this could be a great opportunity for investors. ---- Produced by Resource Media ---- The Hole Truth is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. 

Energy Transition Minerals (ASX: ETM) and a rare earths project at the centre of the growing geopolitical storm. ---- Produced by Resource Media ---- The Hole Truth is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. 

Trek Metals is about to drill the Christmas Creek Project in the Kimberley. It knows it has high-grade gold on its hands. The question is, how much? ---- Produced by Resource Media ---- The Hole Truth is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.