Company Interviews

Crux Investor
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An insight into junior mining and opportunities to invest. Company Interviews, a Crux Investor show, exists to cut through the jargon, bias and bluster. Matthew Gordon, and guest host Merlin Marr-Johnson hone in on the important factors that indicate a company's strong footing for growth and success.

  1. 37 MINS AGO

    Americas Gold & Silver (TSX:USA) - New USA Critical Minerals Hub to be Built

    Interview with Paul Huet, Chairman & CEO of Americas Gold & Silver (TSXV:USA) Our previous interview: https://www.cruxinvestor.com/posts/americas-gold-silver-tsxusa-executing-on-growth-strategy-across-idaho-silver-complex-9036 Recording date: 11th February 2026 Americas Gold & Silver Corporation (NYSE American: USAS | TSX: USA) has signed a definitive joint venture agreement with United States Antimony (NYSE American: UAMY) to construct and operate an antimony processing facility at its Galena Complex in Idaho’s Silver Valley. The deal is designed to solve a specific economic problem: Americas is already the largest antimony producer in the United States, but under its existing offtake arrangements, the company receives only a fraction of the prevailing market price for the antimony contained in its silver concentrate. CEO Paul Huet estimates this leaves $50–$70 million on the table over the next two years at current prices. The JV creates a vertically integrated, fully domestic antimony supply chain from mine to finished product. Americas holds 51% ownership and provides the feed material and permitted site. US Antimony holds 49% and contributes its processing technology, construction expertise, and existing Department of War supply agreements reportedly worth $245 million. The facility is estimated to cost approximately $50 million, with capital split proportionally, and both companies have submitted a joint white paper seeking federal funding under the Trump administration’s $12 billion Project Vault critical minerals initiative. For investors, the value proposition is straightforward. Americas produced 561,000 pounds of antimony in 2025 as a by-product of silver mining, meaning its marginal cost of antimony production is effectively zero. Once the facility is operational, the company will receive full market-price payments for its feedstock plus 51% of downstream processing profits. With antimony prices at approximately $15 per pound, government stockpiling initiatives providing demand visibility, and production volumes expected to grow as Americas transitions to mining higher-grade tetrahedrite ore, the JV represents a potentially significant new revenue stream layered on top of the company’s core silver growth strategy. — Learn more: https://www.cruxinvestor.com/companies/americas-gold-silver-corporation Sign up for Crux Investor: https://cruxinvestor.com

    16 min

  2. 1D AGO

    Market Volatility Opens Door for Mining Mergers as Stock Prices Stabilise

    Recording date: 6th February 2026 The precious metals and mining sector experienced notable volatility in early February 2026, but institutional investors view the pullback as a tactical opportunity rather than a fundamental shift in market dynamics. Derek Macpherson, Executive Chairman, and Samuel Pelaez, President and CEO of Olive Resource Capital, characterize the recent correction as a normal return to established trend lines following an extended rally. The turbulence stems from temporary liquidity withdrawal by the Treasury Department and seasonal factors, particularly the Chinese New Year in mid-February, which historically coincides with reduced market participation and liquidity drawdowns. However, key global liquidity risk indicators—including option-adjusted spreads and high yield bond indices—show no systemic concerns. The Treasury Department is expected to provide net liquidity throughout 2026, while March and April historically represent strong months for commodities. Stabilizing valuations have unlocked significant M&A activity after a volatile January rally made share-exchange negotiations impractical. Three transactions highlight evolving sector dynamics: Eldorado Gold surprised markets by acquiring Foran Mining's zinc-copper project at zero premium to the previous Friday close. The move raises strategic questions as the gold-focused producer diversifies into base metals during a strong gold bull market, though the permitted mine expected to produce later in 2026 will boost cash flow. Goldsky Resources completed a transformative acquisition of full control over the Barsele deposit in Sweden from Agnico Eagle, consolidating nearly 2 million ounces. The transaction elevates Goldsky from explorer to tier-one developer with a market capitalization under $1 billion, suggesting substantial re-rating potential. CANEX Metals secured 51.93% of Great Basin Resources through a hostile takeover, positioning the company to transform a 1.5-2 million ounce Arizona asset currently in cease trade. Strong financial backing including Eric Sprott provides capital to address anticipated issues. For investors, the environment favors selective accumulation in quality names and transformation stories with defined catalysts, emphasizing jurisdiction quality, asset scale, and capital access. Sign up for Crux Investor: https://cruxinvestor.com

    29 min

  3. 2D AGO

    ValOre Metals (TSXV:VO) - Platinum Palladium Project Advances To Economic Study

    Interview with Nick Smart, Director & CEO of ValOre Metals Our previous interview: https://www.cruxinvestor.com/posts/the-investment-case-for-platinum-palladium-investment-in-2026-8935 Recording date: 5th February 2026 ValOre Metals offers investors exposure to a scarce asset class addressing structural supply deficits in the platinum group elements sector. The company's Pedra Branca project in northeastern Brazil contains 2.2 million ounces of palladium and platinum resources - one of the few development-stage PGE assets advancing outside the South Africa-Russia-Zimbabwe concentration that controls over 95% of global reserves. This jurisdictional differentiation carries strategic significance as traditional producing regions face operational challenges including aging infrastructure, increasing depths, rising costs, and geopolitical risks. South African operations contend with periodic labour disruptions whilst Russian supply faces sanctions exposure and market access constraints. Against this backdrop, Brazil's federal classification of platinum and palladium as critical minerals provides governmental support for Pedra Branca's development, whilst established infrastructure including paved highway access and proximity to deep-water port facilities at Fortaleza reduces capital requirements. CEO Nick Smart brings proven PGE development credentials from Anglo American Platinum and De Beers, having built and operated mines globally including in Brazil. Under his leadership since October 2025, ValOre has appointed institutional-grade technical partners to advance the project toward production. Lycopodium, a specialised minerals processing engineering firm, leads preliminary economic assessment work targeting year-end 2026 completion. Simultaneously, University of Cape Town's Centre for Minerals Research, recognised as the premier global centre for PGE processing expertise, conducts metallurgical test work establishing optimal processing routes for both weathered oxidised material and fresh sulphide ore. The deposit's geological structure provides inherent economic advantages. Near-surface mineralisation in the first 30 metres represents high-grade weathered material accessible through open-pit mining, enabling early cash flow generation whilst reducing capital intensity compared to underground development. Core deposits containing 1.1 million ounces provide sufficient foundation for initial operations targeting 150,000-200,000 ounces annually over a 10-15 year mine life. At current platinum prices exceeding $2,000 per ounce, the total resource represents approximately $4 billion in contained metal value. Brazil's trial mining licensing process offers a fast-track permitting pathway enabling early-stage demonstration plant production before full-scale operations. This allows ValOre to prove project viability whilst advancing comprehensive licensing applications, reducing technical risk and generating cash flow to support development costs. Market fundamentals support multi-year investment case. Smart emphasised sustained demand across automotive, industrial, and investment applications concurrent with structural supply constraints: "We see growing demand for platinum and palladium. There are some real structural constraints to bringing more supply on. So we see multi-year gap in terms of that balance between demand and supply." Contrary to earlier narratives of declining PGE relevance as electric vehicle adoption challenged autocatalyst demand, automotive transition timelines have moderated whilst platinum consumption in jewellery and investment products continues growing. Exploration upside extends beyond the current resource base. Mineralisation runs along an 80-kilometre trend within a 50,000-hectare land package, with management characterising the 2.2 million ounces as representing "a relatively small part" of the total system. ValOre has doubled the resource since 2019 acquisition through 20,000 metres of drilling, with additional programmes budgeted for 2026. The year-end 2026 preliminary economic assessment represents the primary near-term catalyst, establishing project economics and development pathway whilst positioning ValOre amongst the limited global pipeline of PGE projects advancing toward production outside geopolitically concentrated traditional sources. View ValOre Metals' company profile: https://www.cruxinvestor.com/companies/valore-metals Sign up for Crux Investor: https://cruxinvestor.com

    36 min

  4. 3D AGO

    Abitibi Metals (CSE:AMQ) - Doubles Resource on High Grade Copper-Gold VMS

    Interview with Jon Deluce, President & CEO of Abitibi Metals Our previous interview: https://www.cruxinvestor.com/posts/abitibi-metals-cseamq-high-grade-copper-gold-discovery-gains-momentum-in-quebec-8692 Recording date: 6th February 2026 Abitibi Metals Corp. (CSE:AMQ) has announced a transformational resource update for its B26 copper-gold-zinc-silver deposit in Quebec, demonstrating the scale potential that could attract major producer interest. The updated mineral resource estimate reveals 13 million tons indicated at 2.1% copper equivalent and 12.3 million tons inferred at 2.2% copper equivalent, representing a 125% increase in total tonnage since the company optioned the project from SOQUEM in 2023. The resource growth was achieved at a discovery cost of just 2.5 cents per pound copper equivalent, positioning Abitibi favorably among peers for capital efficiency. CEO Jon Deluce emphasised that the company has delivered on its goal to reach 25-30 million tons by 2026 well ahead of schedule, while maintaining strong grades throughout the expansion process. The resource calculation uses conservative commodity price assumptions of $2,500 gold, $30 silver, $4.50 copper, and $1.35 zinc. At current spot prices, the deposit would grade closer to 2.55% copper equivalent, demonstrating substantial operating leverage to metal price movements. The indicated category alone contains 775 million pounds of copper, 451,000 ounces of gold, 16 million ounces of silver, and 376 million pounds of zinc. Management has assembled a world-class team to advance the project, most notably David Bernier as COO, who previously built Foran's McIlvenna Bay deposit from preliminary assessment through to commercial production. That deposit was recently acquired in a transaction valued at C$3.8 billion, providing a relevant valuation benchmark for B26, which currently represents 56% of McIlvenna Bay's resource tonnage. Abitibi is executing a funded 40,000-meter drill program in 2026 focused on resource expansion, regional exploration testing four new targets, and early-stage permitting work. The deposit remains completely open along strike and at depth, with management targeting 30-50 million tons based on geological evidence and comparisons to the nearby 60-million-ton Selbaie mine located just 7 kilometers away. View Abitibi Metals' company profile: https://www.cruxinvestor.com/companies/abitibi-metals Sign up for Crux Investor: https://cruxinvestor.com

    26 min

  5. 3D AGO

    Li-FT Power (TSXV:LIFT) – Consolidating a Tier-One Lithium Asset as the Next Bull Cycle Begins

    Interview with Francis Macdonald, Director & CEO of Li-FT Power Ltd. Our previous interview: https://www.cruxinvestor.com/posts/li-ft-power-tsxvlift-commits-7m-to-environmental-studies-for-50m-ton-lithium-project-7632 Recording date: 6th February 2026 Li-FT Power (TSXV:LIFT) has positioned itself at the forefront of North America's lithium sector through strategic consolidation, executing its acquisition of Winsome's Adina project as spodumene prices rebound from a 2.5-year downturn. CEO Francis MacDonald reports lithium prices have tripled from $600 per ton in July 2025 to nearly $2,000 per ton, signaling what the company believes is the early stage of an 18-24 month bull cycle. The Adina transaction addresses a critical development constraint that had artificially limited the project's potential. A claim boundary bisected the deposit, preventing Winsome from optimizing pit design across its 78 million ton resource estimate—only 35 million tons could be incorporated into preliminary mine plans. Li-FT Power had strategically acquired the southern claims before announcing the transaction, enabling complete consolidation that MacDonald expects will unlock 80-100+ million tons of resource, positioning Adina among North America's largest hard rock lithium deposits. The transaction was announced alongside $48 million in financing led by Avenir Minerals, a wholly-owned subsidiary of Agnico Eagle, at $4.30 per share—a price that subsequently doubled to over $9 as lithium sentiment strengthened. Combined with existing equity positions, the company now holds approximately $75 million to fund aggressive 2026-2027 technical programs across both its Adina and Yellowknife flagship projects. MacDonald emphasizes the importance of cyclical timing, noting that strategic acquisitions should occur during market downturns when valuations are depressed. "We saw prices starting to fall in January of 2023. And so, it was really a falling or a flat price environment for 2.5 years," he explains, adding that volatility becomes advantageous when positioned correctly within the cycle. The company plans 50,000 meters of drilling at Adina in 2026 to support a feasibility study targeted for 2027, while concurrent drilling at Yellowknife aims to expand its existing 50 million ton resource base. At the anticipated 80-100 million ton scale, MacDonald argues Adina could justify throughput rates of 4-5 million tons per year, significantly larger than typical 2 million ton per year lithium operations and improving project economics through economies of scale. View Li-FT Power's company profile: https://www.cruxinvestor.com/companies/li-ft-power-ltd Sign up for Crux Investor: https://cruxinvestor.com

    26 min

  6. 3D AGO

    Cobra Resources (LSE:COBR) - Targeting Low Cost Rare Earths Through ISR Extraction

    Interview with Rupert Verco, CEO & Managing Director of Cobra Resources PLC Our previous interview: https://www.cruxinvestor.com/posts/cobra-resources-lsecobr-maiden-resource-work-begins-with-2026-drill-campaign-8583 Recording date: 4th February 2026 Cobra Resources (LSE:COBR) is positioning itself at the forefront of Australia's critical minerals sector through a dual strategy: advancing two significant South Australian projects while actively influencing government policy on strategic reserves. The company's flagship Boland rare earths project utilizes in-situ recovery (ISR) technology to extract dysprosium and terbium, targeting production costs of $60/kg NdPr—half the $120/kg required by conventional mining operations. This cost advantage forms the basis of management's ambition to become "the Kazatomprom of rare earths," replicating the Kazakh uranium producer's dominance through lowest-cost ISR operations. The company has achieved significant technical milestones, including proven ISR processes, proprietary sulfuric acid production from waste materials, and 100% cerium suppression that enhances product value by increasing heavy rare earth ratios to 48%. Complementing the rare earths focus, Cobra's Manna Hill project offers substantial copper-molybdenum-gold-PGE potential. Historic drilling has returned exceptional results, including 4-8 meter intersections grading 2% molybdenum at the Blue Rose prospect. Current programs aim to demonstrate tier-one scale at shallow depths, with management targeting 50+ meter intersections exceeding 1% copper. Beyond project development, Managing Director Rupert Verco has played a key role through the Association of Mining and Exploration Companies (AMEC) in shaping Australia's Critical Minerals Strategic Reserve. The AMEC submission advocates for production support mechanisms modeled on Australia's Capacity Investment Scheme rather than floor pricing, which Verco argues would unfairly advantage higher-cost producers. In 2025, Cobra expanded its land position by 3,200 square kilometers with favorable metallurgy confirmed, while divesting gold assets to Barton Gold for non-dilutive capital. The company holds approximately £5 million in in-the-money warrants and maintains a significant Barton Gold equity position, providing funding optionality as it pursues key 2026 milestones: defining a significant rare earths resource by June, completing a scoping study, and delivering copper-molybdenum drill results that could materially re-rate the asset. View Cobra Resources' company profile: https://www.cruxinvestor.com/companies/cobra-resources Sign up for Crux Investor: https://cruxinvestor.com

    35 min

  7. 3D AGO

    Metals Exploration (LSE:MTL) - Doubling Gold Output as Build on Track & On Budget

    Interview with Darren Bowden, CEO of Metals Exploration PLC Our previous interview: https://www.cruxinvestor.com/posts/metals-exploration-lsemtl-nicaragua-build-on-track-dupax-abra-targets-add-long-term-upside-8132 Recording date: 4th February 2026 Metals Exploration, the AIM-listed gold producer, is executing a strategic transformation that will more than double its annual production to 140,000 ounces by 2027 through its La India project in Nicaragua. CEO Darren Bowden outlined the company's ambitious growth trajectory as construction proceeds ahead of schedule and within its revised budget parameters. The company currently operates the Runruno mine in the Philippines, which is expected to produce approximately 55,000 ounces in 2026 before exhausting its reserves in December. However, cash flow from this operation is fully funding the development of La India without requiring significant equity dilution—a commitment management has emphasized to shareholders. La India represents a substantial upgrade to Metals Exploration's production profile. The project will transition the company from open-pit to underground mining at higher grades and lower costs, with initial production targeting just over 100,000 ounces in 2027, ramping to 140,000 ounces as underground operations commence. The deposit contains 2.4 million ounces of resources supporting a 12-15 year mine life, with significant exploration upside across multiple epithermal vein systems. Construction progress remains robust, with the company ending 2025 with $45 million in cash and all major capital expenditures committed. Management expects to generate over $100 million in free cash flow from Runruno operations, comfortably covering the remaining $90 million required to complete La India. The critical path centers on electrical infrastructure connections, while mechanical and steel erection work proceeds smoothly. Beyond La India, Metals Exploration is actively pursuing construction-ready assets in Central America and Asia where its processing plant and experienced construction team can be redeployed following Runruno's closure. With a market capitalization exceeding £400 million and strong cash generation, the company is positioned to pursue opportunities in jurisdictions where other operators remain reluctant, leveraging direct government relationships and proven execution capabilities to access quality assets at attractive valuations. View Metals Exploration's company profile: https://www.cruxinvestor.com/companies/metals-exploration-plc Sign up for Crux Investor: https://cruxinvestor.com

    34 min

  8. 3D AGO

    Nine Miles Metals (CSE:NINE) - Record Copper-Gold Grades Drive 2026 Expansion Drilling

    Interview with Patrick Cruickshank, Director & CEO of Nine Mile Metals Our previous interview: https://www.cruxinvestor.com/posts/nine-mile-metals-csenine-vms-drilling-unlocks-expansion-potential-5410 Recording date: 5th February 2026 Nine Miles Metals (CSE: NINE) is emerging as a significant explorer in New Brunswick's Bathurst Mining Camp, controlling 140 square kilometers of continuous land across four volcanogenic massive sulfide (VMS) projects. Following a transformative year of advanced geophysical work, CEO Patrick Cruickshank has outlined an aggressive 2026 exploration strategy backed by recently completed $5.5 million financing providing two years of capital. The company's flagship Nine Mile Brook project hosts what Cruickshank describes as the highest-grade lens ever recorded in Bathurst: 12% copper, 38% lead-zinc, 1,200 grams per ton silver, and 2.4 grams per ton gold over 15 meters of solid mineralization. While these exceptional grades present processing challenges—the hybrid nature requires specialized milling solutions—the company is developing a unique bulk sample processing approach with updates expected shortly. The historic Wedge mine represents a different opportunity. This past-producing deposit operated by Caminco in the 1950s-60s was abandoned when its head pillar collapsed, leaving two-thirds of known mineralization in place. Recent drilling discovered an eastern extension with intercepts up to 134 meters, while a just-completed program tested depth and southwestern extensions with assays pending. Management targets proving 7-10 million tons at Wedge to reach economic thresholds. Nine Miles Metals' competitive edge lies in systematic application of modern technology. The company flew 1,400 line kilometers of UAV drone geophysics, identifying 11 new mineralized trends. This approach delivered an 80% drill success rate at California Lake East, hitting mineralization in eight of ten holes. With 185 million shares outstanding, reduced overhead ($300,000 annual savings from office relocation), and drilling costs of just $85-100 per meter in a jurisdiction offering 30-day permitting, the company is positioned to execute multiple 2026 catalysts: pending Wedge assays, April drilling resumption at both Nine Mile Brook and Wedge, and government-funded California Lake exploration—all while maintaining optionality for strategic partnerships or sector consolidation. View Nine Mile Metals' company profile: https://www.cruxinvestor.com/companies/nine-mile-metals Sign up for Crux Investor: https://cruxinvestor.com

    25 min
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4.9
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About

An insight into junior mining and opportunities to invest. Company Interviews, a Crux Investor show, exists to cut through the jargon, bias and bluster. Matthew Gordon, and guest host Merlin Marr-Johnson hone in on the important factors that indicate a company's strong footing for growth and success.

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  • Creator
    Crux Investor
  • Years Active
    2019 - 2026
  • Episodes
    2K
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