JRI – Junior Resource Investor

Time Stamps Below. @CosaResources

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https://cosaresources.ca/contact/subscribe/

ink to Companion Article:
https://juniorresourceinvesting.substack.com/p/discovery-drilling-on-tier-one-ground


Cosa Resources (COSA.V) has officially spud on the first of two drill campaigns this winter targeting their Darby and Murphy Lake North projects, held in a 70:30 JV with Denison Mines. With multiple high-quality, drill-ready targets at Cosa’s disposal, Cosa has multiple shots at glory. This is one of my top (especially pre-discovery) plays. And with Uranium looking like it wants to break out, the time, the timing couldn’t be better.


Time Stamps
00:45 Keith Overview of News
02:00 Discussion about Darby
06:30 Personal favourite?
08:30 Murphy Lake North targets
10:30 Rate of Drilling?
12:30 Discussion around company cash position.

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

Timestamps Below @thesisgold1473

Link to Written Companion Work:
https://juniorresourceinvesting.substack.com/p/thesis-gold-answers-investor-questions

After starting 2025 hovering around the 55 cent range, Thesis continues its massive tear, pushing all the way up to and past $3.00 here now. And the merits of Thesis’ Lawyers-Ranch project make this sharp rerating well-deserved. The format this time is an investor-based Q&A, with all questions sourced from ceo.ca users or my followers.

I’m in Vancouver for conference season, and having listened to a presentation by Thesis on its continuing geological potential, my excitement for this story got renewed all over again.

Time Stamps

01:00 Ewan’s Discussion of Steve Zone Results
06:30 What’s left to be reported from 2025
09:30 Favourite undrilled targets of yours?
15:00 Environmental Assessment Update
18:30 Centerra’s Kemess Expansion PEA
25:00 Final Thoughts


Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

​@contangoore9949 @dollyvardensilvercorp8937 @dollyvardensilvercorp.9308
Summary and Time Stamps Below

Important Note: If you like my work, please click through here and subscribe to CTGO's newsletter to help me demonstrate following I can bring to their story:
https://contango-ore-to-merge-with-dolly-varden-silver.com/

Intro

Big news out of the sector from two companies I have covered closely at one point or another. One of my current favourites - Contango Ore - is merging with one of my first favourites - Dolly Varden Silver - to form a company poised in the coming few years to become one of the dominant North America-only precious metals producers.

CTGO.NYSE CEO Rick Van Nieuwenhuyse and DVS.NYSE CEO Shawn Khunkhun join me to discuss this merger of equals, how it came about, and its significance.

Link to companion article:
https://juniorresourceinvesting.substack.com/p/aggressively-advancing-to-further


Time Stamps
01:30 Intro to the Deal
06:00 How did this plan come about?
10:00 Rick: Why Kitsault Valley specifically?
14:00 Shawn – Why no premium?
17:30 Has there been any pushback or concerns?
21:30 Potential for a weakened float as you blend bases?
28:15 Does BC as a jurisdiction align with your DSO model?
33:00 Is this it for M&A?
37:30 Plans for dual-listing TSX/NYSE – advantages or disadvantages of one over the other?
41:30 What news can we expect prior to March 2026 formal merger?
44:00 Final Thoughts

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

​ @tocvanventures Time Stamps Below

Companion Article:
https://juniorresourceinvesting.substack.com/p/tocvan-ventures-maiden-drill-program

A grab bag update from Tocvan CEO Brodie Sutherland. Tocvan has officially begun the first-ever drill campaign on its North Block and trenching for pilot plant production is imminent at its South Block. As well, Brodie provides an update on warrant exercises, and we discuss the challenge of balancing meeting timelines and managing cost.

Time Stamps
00:10 Starting Off
05:00 Warrants and Cash Update
09:30 Significance of Sorbie Bornholm Deal
12:30 Conversation about Slipping Timelines
16:45 Final Thoughts/Pilot Update

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

Timestamps Below @thesisgold1473

Link to Written Companion Work:

Thesis Gold continues to confirm itself as one of North America’s most impressive gold-silver development plays. With today’s (Dec. 1) release of their PFS, Thesis has become even more impressive, demonstrating how powerful their Lawyers-Ranch project is amidst record gold prices. The boilerplate economics are fantastic (and were built using $2900 spot with gold well above $4000) demonstrating full well just how much blue sky potential this gold run has created for top-tier gold stories.

I sit down with Ewan to dig in past the headline numbers, discussing the mine plan and its underlying assumptions, Thesis’ decision-making processes, their engineering firm, and future strategies.


Time Stamps
00:30 Ewan’s Intro to the PFS
03:00 Ausenco as lead for PFS
05:00 Was high gold price primary motivator behind the adjustments (bigger, lower grade)
07:00 4.5m oz in the resource and 3.2m oz in reserves – where are those ounces gone?
09:00 Is the next step for Thesis increasing scale?
12:30 Costs - $46.49/tonne
17:00 FS Discussion – When, how much cost?
22:00 What drilling will you conduct next year.
24:00 Final Thoughts

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

Time Stamps Below. @CosaResources

Link to Companion Article:
https://juniorresourceinvesting.substack.com/p/multiple-shots-at-a-game-changing

Cosa continues to grow into one of my favourite stories. This is due in large part to the fact that they’ve continually modeled what I see as pre-exploration best practice - demonstrating both clear commitment and ability to making (another) major uranium discovery.

With a whole host of news released in the preceding weeks - a new strategic advisor (CEO David Cates of Denison Mines) joining the team, their exploration plans for undrilled Darby, an upsized $7.5 million financing (interview was recorded prior to its announcement), and news out of their secondary properties, among others - there was much to discuss with CEO Keith Bodnarchuk. See the results of our conversation for yourself below.

With winter drilling fast approaching, things look like they’re going to start getting exciting again for Cosa’s exploration team very shortly.

Time Stamps
01:40 David Cates On as Strategic Advisor
05:15 What about Cosa impresses Denison?
08:00 Darby Targets Announcement
18:15 How do You Balance Darby and Murphy Lake North (MLN) this winter?
20:00 What do you do with your pre-Denison properties?

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

​@foundersmetals
Time Stamps Below

Link to companion article:
https://juniorresourceinvesting.substack.com/p/founders-metals-recent-sequence-of

Founders Metals keeps on building a world-leading gold discovery play. After a huge run of drill-led success, Founders has landed two major pieces the last week or two that look to fuel the next run of value creation for them:
1. A major increase in their land holdings (including significant alluvial mining and many similar traits to Upper Antino) going from 20,000 to 56,000 hectares.

2. A $50 million (and 10.6% stake) strategic investment from the 7th largest (by ounces) gold producer in the world, namely Gold Fields.$50 million,, a plethora of new discovery targets, and a world-leading technical team. This one remains a high confidence pick for ongoing

Time Stamps

00:10 Overview
03:30 The 36,000 Hectare Land Deal
08:30 Chris’ Role So Far in FDR
16:45 What’s the most compelling data from the new land for you?
25:15 Gold Fields Deal
35:30 Chris Ending Thoughts


Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

Time Stamps Below
@FathomNickel

Link to Companion Article:
https://juniorresourceinvesting.substack.com/p/we-want-to-demonstrate-scale-an-update

The second and final interview out of my time in Calgary. This one with Fathom Nickel (FNI.CN) CEO Ian Fraser. Ian catches me up on progress at their Gochager Lake nickel+ project with some pretty compelling above ground work that 1. Has opened up a trend of at least 3.5km of favourable (mineralised) host rock for high-grade zones within it and 2. That the historic Gochager deposit itself is surrounded by anomalies (across multiple data sets) that meet and exceed its own signature.


Time Stamps

01:00 General Update
07:45 Nickel Macro Discussion
13:15 What’s Next for Fathom?

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

​ @tocvanventures Time Stamps Below


Companion Article:


I took the trip down the #1 highway to Calgary a couple weeks back for some sit downs with a few clients and industry members. Below is one of those sit downs, an interview recorded with CEO Brodie Sutherland of Tocvan Ventures.

Good news continues to flow out of Tocvan’s Gran Pilar gold project in Sonora, Mexico - newly-discovered zones, historical workings, positive geochem and aeromag results, warrants exercising, positive permitting developments, and aggressive future drilling plans (some 15,000-20,000m before end of 2026). It takes news flow to get noticed in this industry, and Tocvan promises to deliver a lot of it over the next 12-18 months.

Add in gold doing what it’s been doing (trading sideways at $4000 of all prices currently) and that’s a pretty powerful combination.


Time Stamps
00:10 Introduction
04:00 Compare and Contrast North Block to South Block
11:30 Macro Trends and Tocvan Strategy
16:30 When Do You Plan to Head to Full Production
23:45 Final Thoughts

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.