The Hole Truth: Mining Investment Podcast

Resources Rising Stars
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The Hole Truth: Mining Investment Podcast is a product of Resources Rising Stars, hosted by Paul Armstrong, a seasoned expert in the world of finance and resources. With more than 30 years of experience as a finance journalist under his belt, Paul brings a wealth of knowledge and insight to his conversations with some of the most prominent figures in the industry. Each episode of The Hole Truth: Mining Investment Podcast is a deep dive into the inner workings of those resources companies which are making things happen, quizzing those in charge about their projects, their prospects, the challenges they face and the opportunities they offer to investors. Whether you’re an investor, industry professional, or simply interested in the latest developments in mining, energy, and resources, The Hole Truth is the podcast for you. Join Paul and his guests to hear about the latest investment opportunities in the resources sector. 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.

  1. 4天前

    Centaurus Metals: a Classic Countercyclical Investment Opportunity – Darren Gordon (ASX: CTM)

    Everyone knows the nickel price is down, but Centaurus Metals (ASX: CTM) MD Darren Gordon says that's why there's a great investment opportunity. The company is in talks with potential partners regarding its Jaguar Nickel Project in Brazil, it also has active copper and gold exploration activity in the country. Mr Gordon is a Chartered Accountant with over 25 years’ experience in the mining industry as a senior finance and resources executive. Mr Gordon has had extensive involvement in financing resource projects from both a debt and equity perspective and is a non-executive Director at Ordell Mineral Limited. Mr Gordon has over 15 years’ experience operating in Brazil and as a result has a deep understanding of the regulatory framework and general operating environment required to develop a mining project in country.      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/  Company Website: https://www.centaurus.com.au   1. Counter-cyclical Opportunity in Nickel Centaurus Metals is positioning its Jaguar Nickel Project in Brazil as a classic counter-cyclical investment, taking advantage of the current downturn in nickel prices (around US$15,000/t) to prepare for the next upswing. Gordon believes the market has hit its floor and that investors entering now could see significant upside as prices recover     2. Strategic Partnering to Unlock Value Centaurus is advancing strategic partnering talks with downstream players seeking sustainable nickel supply for the EV battery sector. The goal is to secure a minority partner with offtake and equity funding, enabling development of the US$400 million Jaguar Project while maintaining operational control. A partnership announcement could trigger a major share price re-rating within the next few months   3. Low-Cost, Sustainable Nickel Sulphide Production Jaguar’s economics remain robust even at current prices, with all-in sustaining costs (AISC) of ~US$4.40/lb, placing it in the lowest cost quartile globally. The project’s low-carbon footprint and nickel sulphide resource differentiate it from Indonesia’s environmentally damaging laterite operations, making it highly attractive to Western EV supply chains   4. Copper-Gold Growth Pipeline in the Carajás Alongside Jaguar, Centaurus is expanding into copper-gold exploration in Brazil’s Carajás region, including the Boi Novo and Rio Novo projects. These assets offer exposure to high-grade copper intersections (up to 35 m @ ~1.8% Cu)and the potential for short-term share price catalysts through upcoming drilling results   5. Funded for Dual Momentum After a successful capital raise in August, Centaurus plans to deploy funds for both Jaguar’s development and new drilling programs at Boi Novo. With near-term exploration newsflow and an imminent funding deal, the company is offering investors two growth pathways—nickel development and copper-gold discovery—positioning it strongly for a 2026 value uplift.

    20 分钟

  2. 11月4日

    Mont Royal’s Re-listing: A Piece of Perfect Timing - Nick Holthouse (ASX: MRZ)

    The rare earths space is hot, creating the perfect environment for the imminent re-listing of shares in Mont Royal (ASX: MRZ). The re-listing follows the company's success in securing the world-scale Ashram rare earths project in Canada, giving it the critical minerals which the rest of the world wants. With the capital raising completed, Mont Royal will hit the ground running with its strategy to unlock the immense value of this asset.       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/

    23 分钟

  3. 10月27日

    Bellevue Gold up and Away With Strong Operational Results - Darren Stralow (ASX:BGL)

    Bellevue Gold (ASX: BGL) has bounced back with a vengeance. The company's latest operational results are strong showing it's on track to meet guidance. MD Darren Stralow tells us about the changes that were made at an operational level, why they've been so effective and what the next twelve months holds. Darren Stralow is the CEO and Managing Director of Bellevue Gold, leading the company through its transition from development to production at the high-grade Bellevue Gold Project in Western Australia. A mining engineer and WA School of Mines graduate, Darren brings more than 20 years of underground mining experience, including senior leadership roles at Northern Star Resources. Known for his strong operational and commercial focus, he’s driving Bellevue’s vision to produce some of the world’s most sustainable 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://resourcesrisingstars.com.au/the-hole-truth-podcast/ Instagram: https://www.instagram.com/theholetruthpodcast/  Company Website: https://bellevuegold.com.au   Key Insights: 1. Bellevue Gold delivers a strong September quarter, beating production guidance Bellevue Gold produced around 29,000 ounces of gold in the September 2025 quarter, ahead of budget and on track to meet its FY25 guidance of ~140,000 ounces. Darren Stralow notes that the company is achieving or exceeding internal targets, with increasing grades expected to drive stronger production and cash flow in the second half of the year. 2. Operational turnaround driven by improved development rates and mine planning Following a strategic operational review, Bellevue Gold has dramatically improved its underground development rates, achieving over 320 metres per jumbo compared to a budget of 270 metres. This has allowed the team to get ahead of production fronts, install all primary infrastructure, and move the operation into a steady-state phase with improved resilience and reduced risk. 3. Cash flow strengthens as grades rise and capital costs taper off With plant upgrades and ventilation installations now complete, Bellevue Gold expects to generate higher grades from the Deacon mining area while maintaining a stable cost base. Stralow says the mine will see rising free cash flow as higher-grade ore and stable operating costs combine to lift margins and provide optionality for balance-sheet management. 4. Pathway to becoming a debt-free, unhedged gold producer by end-2026 Bellevue Gold has begun closing out hedge positions ahead of schedule and proactively managing its hedge book to take advantage of strong spot prices. The company holds A$150–160 million in cash — equivalent to roughly four months of operating costs — and aims to be completely debt-free and hedge-free by the end of 2026, positioning it among Australia’s lowest-risk mid-tier gold producers. 5. Growth focus shifts back to exploration and long-term discovery After several years focused on construction and ramp-up, Bellevue Gold is now ready to reignite exploration across its 1,900 km² landholding. With underground drill platforms established and cash flow funding new programs, Stralow says the company is excited to “hit exploration hard again” to grow the resource base and extend mine life — marking the next chapter in Bellevue’s growth story.

    18 分钟

  4. 10月20日

    CZR Cashed Up, Drilling Flat Out With Mark Creasy As It's Biggest Shareholder – Stefan Murphy (ASX: CZR)

    CZR is coming to life in a big way with around $74 million cash in the bank, some fantastic WA exploration assets and numerous drilling programmes being lined up between now and Christmas. Managing Director Stefen Murphy led the development and commissioning of the Roper Bar iron ore mine in the Northern Territory. His experience in developing integrated mine-to-port logistics solutions and iron ore marketing has been invaluable to CZR in developing the Robe Mesa iron ore project in the Pilbara. Mr Murphy commenced his career in the Pilbara as a mine geologist with BHP iron ore and has spent the past 20 years working on mining and exploration projects throughout Australia. In addition to his technical roles, he holds an MBA and has worked in corporate finance roles in Australia and the UK, focused primarily on capital markets and M&A transactions in the resources sector.       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/  Company Website: https://www.czrresources.com   Key Insights: 1. Robe Mesa Iron Ore Sale Delivers $75 Million and Positions CZR as Cash-Backed CZR Resources has completed the sale of its Robe Mesa Iron Ore Project to the Robe River Joint Venture (Rio Tinto, Mitsui and Nippon Steel), delivering around $75 million in cash. The transaction leaves CZR debt-free and holding a cash balance roughly equivalent to its market capitalisation, effectively making it a cash-backed exploration company. With a strong balance sheet and no debt, CZR is now well positioned to fund aggressive exploration across its portfolio. 2. Croydon Gold Project: Drilling Targets Hemi-Style Intrusions Freshly funded, CZR has launched an aggressive drilling campaign at its Croydon Gold Project, located about 50 kilometres south-east of De Grey Mining’s Hemi discovery in the Pilbara. Early aircore results have confirmed the presence of diorite intrusions, epithermal quartz veining and gossanous zones — all key indicators of intrusive-related gold systems similar to Hemi. With RC drilling planned through late 2025, the company is aiming to define both shallow epithermal gold mineralisation and deeper intrusion-hosted systems across the Top Camp and Bottom Camp prospects. 3. Edamurta Copper-Zinc Project Shows Golden Grove-Style VMS Potential CZR’s Edamurta Project, located in the Midwest near Yalgoo, is showing strong signs of volcanogenic massive sulphide (VMS) potential similar to the Golden Grove and Deflector deposits. Recent geophysical surveys have identified strong electromagnetic conductors, consistent with copper-zinc-gold-silver mineralisation. A 3,000-metre RC drilling program is planned to test these high-priority conductor plates, offering multi-commodity upside and the potential to establish CZR as a serious copper-zinc explorer in Western Australia. 4. Strategic Backing from the Creasy Group CZR continues to benefit from the long-term support and geological expertise of the Creasy Group, led by renowned prospector Mark Creasy, who holds a 51% stake in CZR and a 30% joint venture interest at Croydon. The Croydon tenements were originally pegged by Creasy for their intrusive geological potential, and his ongoing involvement provides both strategic stability and proven exploration pedigree across CZR’s project portfolio. 5. Fully Funded Growth and Retained Iron Ore Upside Following the Robe Mesa sale, CZR is fully funded to accelerate exploration across its gold and base-metal projects while maintaining exposure to iron ore through the Peters Creek and Darnell’s prospects and its 50% interest in the Ashburton Link infrastructure joint venture. With a strong cash position, multiple high-potential assets, and upcoming drilling at both Croydon and Edamurta, CZR offers a rare combination of financial strength, discovery upside, and portfolio diversity — all while trading around its cash backing.

    22 分钟

  5. 9月30日

    Cygnus Metals’ Substantial Resource Upgrade — with David Southam (ASX: CY5)

    This week on The Hole Truth, David Southam, Executive Chairman of Cygnus Metals (ASX:CY5), joins us to unpack a 78% increase in measured & indicated resources at the company’s Chibougamau Copper–Gold Project in Québec, Canada. With a new total of 2.2 million ounces gold-equivalent at 4.5 g/t, more than 3Moz of silver and nearly $20M in cash, Cygnus believes the market hasn’t yet caught up to the scale and quality of what they’ve built.     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/  Company Website: https://www.cygnusmetals.com   Key insights from the episode: From “sausage” to “sizzle”:How Cygnus deliberately focused on delivering a big, high-grade copper-gold resource before turning to promotion — and why now is the time to tell the story globally. Major resource growth:The updated estimate delivers 2Moz gold-equivalent at 4.5 g/t, plus silver upside and infrastructure advantages in a proven Québec mining district. Market disconnect & valuation gap:Despite the scale, Cygnus sits at a ~$100M market cap (with $20M cash)— well below analyst price targets, including Canaccord’s 30c call vs. an ~11c share price. Upcoming catalysts:Active drilling at Cedar Bay, a new economic study using current gold (US$3,700/oz), copper (US$4.50/lb) and silver prices, and potential M&A interest across the Chibougamau district. Smart development metrics:Low capital intensity compared to peers, strong institutional support, and a clean copper concentrate with no deleterious elements — all factors that improve project appeal.

    18 分钟

  6. 9月23日

    Mining 101: Jargon made simple .. by experts | A special Live Recording at Resources Rising Stars Gold Coast Conference

    In this special episode of The Hole Truth, mining gurus Chris Cairns, Simon Lawson and Hedley Widdup explain the technical terms we see in ASX releases every day yet so often don't understand. This informative - and fun - episode was recorded before a live studio audience on the eve of last week's Resources Rising Stars investor conference on the Gold Coast. Listen, learn and laugh with these legends.     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/

    39 分钟

  7. 9月1日

    PolarX Gets Huge Tailwind From ASX Gold Giant - Mark Bojanjac (ASX: PXX)

    PolarX (ASX: PXX) has just struck a far-out deal with Northern Star Resources that will see the gold giant spend up to 60-million Australian dollars for a stake in up to 70% in PolarX’s Alaska Range Project. Mark Bojanjac is a Chartered Accountant with almost 30 years’ direct experience in developing resource companies. He was a founding director of a public company which discovered one of Australia’s highest grade gold mines at East-Kundana near Kalgoorlie in WA and managing director of an unlisted public company which successfully developed a 2.4Moz gold resource in Mongolia. He was previously CEO of Adamus Resources Limited, where he oversaw its advancement from an early stage exploration project through definitive feasibility studies and managed the debt and equity financing to build its successful Ghanaian gold mine. He was also formerly a Non-Executive Director of QLD silica sand developer, Metallica Minerals Limited and is currently a director of WA resources explorer, Kula Gold Limited.     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/  Company Website: https://www.polarx.com.au/   INSIGHTS FROM THE EPISODE 1. Northern Star to Invest up to $60M for 70% of Alaska Range PolarX has secured a landmark farm-in agreement with Northern Star Resources (ASX: NST), giving Northern Star the right to earn up to 70% of the Alaska Range Project by spending $60 million. This partnership validates the project’s scale and potential.  2. High-Grade Copper and Gold Resource with 70% IRR The Caribou Dome deposit within the Alaska Range has delivered scoping study results showing an Internal Rate of Return (IRR) of ~70% (based on metals prices two years ago), underlining its strong economics and global significance as one of the highest-grade undeveloped copper projects in the USA.  3. Exploration Upside Along 35km Strike Length PolarX controls an under-explored 35km mineralised corridor, including soil anomalies up to 11km by 8km in size. Northern Star’s backing allows for big-company exploration programs—geophysics, helicopter surveys, and systematic drilling—that were previously unaffordable for PolarX.  4. Strategic Positioning in Critical Minerals With copper recently added to the US Critical Minerals List, PolarX’s Alaskan copper-gold assets are strategically aligned with America’s push for secure, domestic supply. The jurisdictional advantage of being in the USA enhances the project’s attractiveness to global investors.  5. 100% Ownership of Humboldt Range in Nevada Outside the Alaska JV, PolarX retains full ownership of the Humboldt Range Project in Nevada, located next to major heap-leach gold and silver operations such as Florida Canyon and Rochester. Drill-ready and surrounded by multimillion-ounce deposits, Humboldt represents a second growth pillar for the company.

    21 分钟

  8. 8月26日

    Sky Metals: Unlocking Scale and High-Grade Potential at Tallebung – Oliver Davies (ASX: SKY)

    This week on The Hole Truth, we sit down with Sky Metals (ASX: SKY) to dig into the latest results from the Tallebung Tin Project in NSW. With standout silver and tin intercepts, breakthrough ore sorting results, and a pathway to becoming a globally significant tin producer, Sky is pushing hard to prove up scale and economics in one of Australia’s most exciting tin plays.   Managing Director Oliver Davies joined SKY as a geologist in 2019. He was appointed to Exploration Manager in 2021, then to CEO in early 2022 and subsequently to Managing Director in September 2024. Prior to SKY, Mr Davies was in exploration and operational roles with Evolution Mining and Alkane Resources in NSW and Qld. Mr Davies has worked closely on several successful NSW discoveries including Evolution Mining’s significant expansion of the Lake Cowal gold resource and with Alkane’s regional exploration success at Tomingley and Boda.       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/  Company Website: https://www.skymetals.com.au   INSIGHTS FROM THE EPISODE Expanding Resource at Tallebung Tin– Sky Metals continues to grow its Tallebung deposit, now stretching over 2km long and 300–400m wide, with drilling pointing to significant extensions beyond the current resource. High-Grade Intercepts Boost Potential– Recent drilling returned standout results, including 3m at over 600g/t silver and nearly 1% tin, highlighting the project’s rich mineralisation. Ore Sorting Breakthrough– Bulk sample results show a 13x upgrade in ore sorting, a step change from earlier 3–4x upgrades, confirming Tallebung’s strong suitability for this cost-saving technology. Towards Long Mine Life and Scale– With ~23,000 tonnes of tin already defined and drilling density increasing, Sky is targeting a potential 10-year mine life and production that could represent ~1% of global tin supply. Strong Economics Backed by Leadership– Shallow high-grade zones offer potential for rapid payback on CapEx, while an experienced board led by Chairman Norm Seckold brings a track record of building successful mining projects.

    16 分钟
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The Hole Truth: Mining Investment Podcast is a product of Resources Rising Stars, hosted by Paul Armstrong, a seasoned expert in the world of finance and resources. With more than 30 years of experience as a finance journalist under his belt, Paul brings a wealth of knowledge and insight to his conversations with some of the most prominent figures in the industry. Each episode of The Hole Truth: Mining Investment Podcast is a deep dive into the inner workings of those resources companies which are making things happen, quizzing those in charge about their projects, their prospects, the challenges they face and the opportunities they offer to investors. Whether you’re an investor, industry professional, or simply interested in the latest developments in mining, energy, and resources, The Hole Truth is the podcast for you. Join Paul and his guests to hear about the latest investment opportunities in the resources sector. 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.

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