JRI – Junior Resource Investor

​@Arizonagoldandsilver
Time Stamps Below. Tickers AZS.V and AZASF.

I sat down with CEO Mike Stark for a brief news update. Since we last spoke, the company has released a couple sets of results from their ongoing drill campaign at their Philadelphia project, acquired land for a future heap leach pad, and have announced some $3.2 million in the bank in part courtesy of significant insider option exercising.

AZS is still drilling as it builds towards its maiden resource within the next 12 months or so. And with the rig imminent at BLM Pad 2, they have a chance to fully and properly prove their “boiling zone under the Red Hills” geological model correct (after teasing it with hole 136) and add some critical high-grade ounces to their project. Mike and I chat about all this, the market response to their results, the importance of the leach pad land acquisition, insider support, and more.

Link to Companion Article:
https://juniorresourceinvesting.substack.com/p/approaching-a-boiling-point-arizona

Time Stamps
00:40 March 19th news – drill results
04:00 Hole 136
9:00 Update on holes and meters drilled to date?
12:00 Cash on hand and leach pad news
15:30 Final Thoughts
17:30 Follow-up on PEA and Resource timing


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.

​ @thesisgold1473 Time Stamps Below

Companion Article:
https://juniorresourceinvesting.substack.com/p/thesis-gold-announces-new-strategic

Thesis Gold (TAU.V) came out with good news recently, announcing that mid-tier producer and Toodoggone neighbour Centerra Gold (CG.T) was getting involved with Thesis through a 9.9% strategic investment. Bringing on a strategic is a critical step in any devcos journey, and the strength of the strategic and the deal itself speaks to the strength of Thesis and Lawyers-Ranch. CEO Ewan Webster joins me to discuss the details of the deal, why it makes so much sense as a local partnership, and more.

Part 1: The Interview, Part 2: The Companion Article, Part 3: The W

Time Stamps
00:10 Overview of News Release
07:00 Could Kemess infrastructure/flow sheet work for Lawyers-Ranch.
10:20 Investor question asking for more info on district synergies.
13:00 Update on when we might hear more from Thesis.


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 have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. 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

Companion Article:
https://juniorresourceinvesting.substack.com/p/drilling-in-tier-one-gold-territory

This is one I’ve followed for a while, including a couple of paid sub notes on them. The similarities (and therefore immediate allure) to another company I follow closely (Founders Metals) make for an awfully compelling narrative here.

Consider the obvious parallels: Location of Sela Creek (and Nassau) are in south/eastern Suriname, orogenic gold in the Guiana Shield, leveraging preexisting artisanal prospecting and mining as exploration tools, using similar geophysical tools and strategies, smart younger team.

The valuation is rich ($75 million mc for a pre-discovery, pre-assay - for now - explorer) but clearly demonstrates the respect the market is giving Guiana Shield exploration. In truth, the valuation bedevils me. $75 million market cap without an assay in hand.

Now all that’s left to do is prove the compelling narrative can be meaningfully converted into a compelling discovery.

Time Stamps

01:00 Intro to Jaap, Miata, Sela Creek Project, and Three Points Capital
05:00 What historical work are you relying on and what are you doing differently to achieve better results.
10:50 Scale and scope – size of the prize?
13:00 What are the responses people are giving you about your story? (Pre-discovery, amount of potential, high valuations)
19:30 Overhang of warrants etc.
21:00 Cost of Drilling
24:30 Current Campaign Info, Lessons Learned
31:00 How long till drill results?

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 Summary and Time Stamps Below

Important Note: If you like my work, please click through here and subscribe to CTGO's newsletter so they can track the following I can bring to their story:

https://why-invest-in-contango.com/

In this conversation, Rick Van Nieuwenhuyse, CEO of Contango Ore, discusses the company's recent cash distribution, tonnage delivery improvements, and financial strategies amidst a turbulent macroeconomic environment. He highlights the significance of exceeding production guidance and the company's plans for accelerated debt management.

Key Points:

1. Contango Ore has reported a significant cash distribution of $24 million.
The company is producing 30% more gold (19,500oz vs 15-18,000oz guidance).
2. Bridge weight restrictions will also be solved via funding approvals for repairs now in place.
3. At current prices, the company forecasts over $80 million and could be debt free by EOY.
4. A PEA for the Johnson Tract project is expected soon, indicating future growth opportunities.
titles

Time Stamps

00:36: Introduction to Contango Orr and Market Context
03:43: Performance Highlights and Cash Distribution
06:32: Tonnage Improvements and Operational Efficiency
09:29: Debt Management and Future Projections
12:16: Macro Market Insights and Future Outlook

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

From March 1-5, I traveled to Toronto to close out Canada's big West-to-East conference run, after ending January in Vancouver.

This year my time was filled by company interviews, tech demos from VRIFY, educational talks and subject panels, politicians including Doug Ford pontificating, Suriname Day as hosted by Founders Metals, and more, as you will see in the video and article below.

If time is limited, make sure to use the timestamped chapters in the notes to get where you want to go fast.

Tickers:

cosa.v; ctgo.ny; fdr.v; fni.cn; ghrt.v; gmx.to; mme.cn; tau.v

Subscribe for more resource sector interviews, on-site updates, and investor insights.

Time Stamps

04:33 Thesis Gold w/ CEO Ewan Webster
08:04 Thesis Gold - Intro to Chief Geo Evan Orovan
12:40 Suriname Day (Founders Metals, Greenheart Gold, Miata Metals)
16:22 Fathom Nickel - Core Shack
23:57 Globex Mining w/ CEO Jack Stoch
32:33 Contango ORE w/ CEO Rick Van Nieuwenhuyse
40:45 Cosa Resources w/ CEO Keith Bodnarchuk

​@foundersmetals
Time Stamps Below

Link to companion article:
https://juniorresourceinvesting.substack.com/p/founders-metals-extends-van-gogh

Back again with Founders Metals (FDR.V). They’re officially north of $6 CAD these days, breaking through ATHs alongside gold. And well-deserved considering the news they’re releasing. 72m of 2.29 gpt Au extending Van Gogh to depths of 200m, after opening it up with 28.5 of 7.12 g/t from 18.6m down.

This is yet another major discovery for Founders, and even more excitingly, the first brand new discovery, without historical workings or exploration to guide them. This certainly bodes well not just for Founders’ mastery of Antino, but the sheer size of the potential on display down here as well.

I also do a little math based on Agentis work to rank Founders’ Antino project globally.


Time Stamps

01:30 Overview of Van Gogh Discovery and Its Significance to Antino
03:20 Geological Discussion of Holes 1-4 at Van Gogh
09:20 Current and Future Drilling Plans
12:45 PDAC & Suriname Day Insights
15:25 FDR’s Global Ranking for Top Holes and Overall Industry Recognition
16:45 Closing 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-reports-strong-drill

Tocvan Ventures (TOC.CN) is moving again. With the drill turning, they are starting to receive positive results from the lab that certainly appear to confirm management’s belief in their Gran Pilar project. Strong gold mineralisation has been intersected in the first-ever handful of holes drilled outside the Main Zone, expanding the known orebody some 100-200m to the north. In addition, infill drilling along a separate, parallel, zone also came back unexpectedly positive. With drilling ongoing, it’s certainly exciting times for Tocvan.

CEO Brodie Sutherland joins me again to chat drill results, assay reporting methodology, and bulk sample plans in a quick exploration update.


Time Stamps

01:05 February 25th Drill Results
05:55 March 11th Drill Results
09:10 Assay Reporting and Grade Distribution
13:20 Bulk Sample Overview
19:10 Outlook for 2025 and Closing Remarks

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.

​@arizonagoldsilver Time stamps and link to companion article below.

Link to Companion Article:
https://juniorresourceinvesting.substack.com/p/on-site-series-4-arizona-gold-and

Last month (Feb. 2025), I traveled into the Mojave Desert of northern Arizona to take in Arizona Gold & Silver’s (AZS.V) Philadelphia Project. This is a strong project, with effective leadership, a strong unofficial resource, and significant potential for further growth (both short and long term).

And the timing was excellent, as AZS is at a critical juncture in its growth as a company currently.

That is because the ongoing drill campaign is looking to accomplish two key goals:

1. Firstly, it is expanding and infilling the known areas of mineralisation along strike of AZS’s Arabian Fault. The Arabian Fault express at surface for over a kilometer and contains lengthy swaths of consistent lower-grade mineralisation. Cheap to drill, and will almost certainly be cheap to mine.

2. Secondly, and most critically, after years of preparation, AZS is finally ready to drill its Red Hill target, the theoretical boiling zone source for the Arabian Fault. Confirming their working model with thick and healthy intercepts on this target will significantly improve the blue sky numbers on Philadelphia as it is currently understood.

And with 100+ years of mining in the region, it is well known what success looks like. And, well, AZS certainly seems to have found some success. Watch the video to learn more about this and my overall thoughts on AZS and Philadelphia.

Time Stamps:

01:10 Intro
05:30 Current Drilling
08:00 Drill Core Preview
12:00 Red Hills
14:20 Arabian Fault
18:00 The Drill
19:40 Reflections



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 Time Stamps Below

Important Note: If you like my work, please click through here and subscribe to CTGO's newsletter so they can track the following I can bring to their story:

https://why-invest-in-contango.com/

Companion Article:

https://juniorresourceinvesting.substack.com/p/contango-ore-producing-high-grade

Intro

Contango Ore (CTGO) is a smartly-run company that is currently serving as proof-of-concept to the market for a novel production model which CTGO calls its “direct shipping ore” (DSO) model. DSO is a streamlined and aggressive model that works to bring small, high-grade deposits to production fast by utilising a hub-and-spoke toll-milling strategy.

At stage one of this plan, CTGO is forecasting 60,000oz of high-grade gold worth some US$40 million to them this year.

Now, some challenges have produced some short-term pain on the ledger and in charts for CTGO. However, I fundamentally believe the long-term value proposition here still remains significant, intact, and likely.

And it is that disconnect that exists here that makes Contango especially so compelling to me currently. You’re getting a solid, cash flow positive gold producer with clear line of sight to improvement of existing margins in addition further production growth for very low valuation multiples.

Sounds like the recipe for success.

Time Stamps
00:45 Intro to Contango and the DSO Model - Benefits and Risks
14:00 Intro to Manh Choh - Its economic impact and life of mine.
18:10 Operational Performance & Financials
25:00 Johnson Tract Discussion - What is and should be its role in CTGO portfolio
33:10 Current Issues and Risks
38:00 The Year Ahead


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.