The National Investor

In the first podcast of The New Year, I put off what I'd planned to present and necessarily go into this weekend's effective annexation of Venezuela by the Trump Administration.

Implications of a move that's actually been planned for YEARS (contrary to accusations by those with the Derangement strain of T.D.S. that this was an impulsive and reckless move by the president) are MANY, as I discuss:

-- What it all means for priorities on our own soil when it comes to energy and metals and what we THOUGHT we had in an "America First" policy

-- This was a MAJOR furtherance of "The Donroe Doctrine"

-- What, if anything, were Russia and China promised? And what might their responses be?

-- Implications for the 2026 mid-terms in November.

-- and MUCH more.

I also go into America's LONG history of such moves and explain why Trump's capture of Maduro and turning Venezuela into an overt "vassal" is actually, in a way, FAR more open and honest than what the Dulles brothers engaged in once upon a time!

LINKS:
"The Brothers" by Steven Kinzer -- Authoritative bio of sorts of John Foster Dulles and Allen Dulles I referred to. -- https://www.amazon.com/s?k=the+brothers+by+stephen+kinzer

Dr. Cristina Martin Jimenez post referred to on the back story of the Venezuela annexation/Maduro "arrest" -- https://x.com/crismartinj/status/2007791005626482701

Here, Dennis joins me to add some more color to the Year-end Shareholder Letter/recap BioLargo just sent out on the early morning of 12/29.

In order and approximate times we cover:

(After opening remarks) -- Calvert's role with the ETTAC Committee of the U.S. Department of Commerce, specifically on some recommendations just sent recently to Sec. Lutnick. (KEY here -- the Administration needs to be financially and otherwise proactive with American ingenuity/technlogies and not leave them solely to "market forces.")

-- 13:00 -- An update on the PFAS remediation work, highlighting the "finishing touches" ahead of launch in New Jersey and some follow-on expected contracts.

-- 25:30 -- An update on the company's energy subsidiary developing the Cellinity battery -- Dennis explains this battery technology's superior attributes, and especially how it better fills the major needs going forward for energy storage.

-- 34:30 -- More of a discussion in this interlude of how on more than one front BioLargo is looking to more tightly integrate w/ state and local governments, industrial development agencies and the like.

-- 46:15 -- The big revenue news expected near-term with the multi-step imminent launch of Clyra's products

-- 54:30 -- A recap of the Pooph! saga and potential next steps for the company to 1. protect its interests/collect on past business from its former partner and 2. Find a "Plan B" to monetize anew this demonstrably GREAT, proven technology.

LINKS:

-- BioLargo's just-released 2025 Shareholder letter and update -- https://feeds.issuerdirect.com/news-release.html?newsid=7448032311850076&symbol=BLGO

-- ETTAC's letter to Commerce Sec. Lutnick on "Strategic Policy Recommendations to Secure U.S. Leadership in Next-Generation
Industrial & Resource Technologies" -- https://www.trade.gov/sites/default/files/2025-12/ETTAC%202025-2026%20Rec%206%20Strategic%20Policy%20for%20Next-Gen%20Tech%20508c.pdf

-- ETTAC's home page for more info -- https://www.trade.gov/ettac

-- Our previous video on Clyra's advancements as mentioned -- https://www.youtube.com/watch?v=Zp1VRjV6Btg

-- BioLargo and its subsidiaries' visionary development/collaboration partner, 22nd Century by Design -- https://www.22ndcenturybydesign.com/

-- BioLargo's home page: https://www.biolargo.com/

(NOTE: Under "About BioLargo as well as elsewhere you will find dedicated links to likewise very comprehensive websites for each subsidiary company!)

Here, I unpackage with George Integra's substantial strides -- and about a 500% share price increase -- of the last year!

After discussing the overall healthy macro environment for gold (primarily) and silver as well as the FAR improved permitting and policy environment under Trump 2.0, we go into the company's key components/stories:

--- The MASSIVE jump in cash flow and earnings from Florida Canyon, acquired in late 2024. The surge in the gold price has caused financial metrics to soar beyond expectations, contributing to Integra's financial rsults AND paving the way for more and faster development elsewhere.

--- Just days before this discussion, the company released its Feasibility Study on the DeLamar Project in SW ID, another of its Great Basin properties. As you'll hear, economics and the "game plan" here are greatly enhanced over the prior "snap shot" and, in part, have prompted most of the analysts following Integra to significantly raise their price targets.

--- At both DeLamar and Nevada North, the greater cash flow from Florida Canyon will speed up the process of Integra becomign a more substantial intermediate producer, with an industry-leading cost profile.


LINKS:

Integra's web site - https://integraresources.com/

The recent Feasibility Study on DeLamar specifically - https://integraresources.com/investors/events/ (NOTE: The most recent Q3 webinar, also referred to here, can be found on this page.)

Here, Chris addresses the economic, tariff/trade, debt, markets, investment sector, political and other aspects of the concluding 2025 first year of Trump 2.0 against his theme for the year "Let's Do The Math."

LINKS MENTIONED:

Paul Volcker's Forgotten Legacy -- https://www.theepochtimes.com/business/the-forgotten-legacy-of-paul-volcker-4204594

A recent Podcaster News Podcast following the December Fed meeting which gave us the expected "Hawkish rate cut" and the UNEXPECTED additon of a new Q.E. program and more to shore up markets -- https://www.youtube.com/watch?v=lNIoLOQGRFM (NOTE: This complements the present YMT episode with more market, investment sector and related comments.)

In one of a couple currently discussed stories of ours we've been patient with, appearances are growing that GT Biopharma is "coming back from the dead."

As C.E.O. Breen explains, GT Biopharma is on a quest to improve cancer care and come up with modern remedies for an industry that is still relying on much the same "barbaric" regimens (essentially, "cut and burn") employed for some 80 years now. As we discuss, its platform technology suggests, together with some early clinical success, that the company has the goods!

Further, it now has sufficient backing from a couple key investors to continue with key clinical trials for the foreseeable future on its patented immunotherapy platform for the treatment of cancer, developed by world renown scientist Dr. Jeffrey Miller from the Univ. of Minnesota.

As I've stressed with other speculative stories recently -- both in advising our Members to leave some for a while and also embrace a few new "fresh" stories -- GT Biopharma has great potential to move the needle (and its sub-$10 million market cap presently) within MONTHS as opposed to years.

Do your due diligence here...I'm confident you'll come away as excited about this risk-reward setup as is possible with pretty much ANY kind of company!

Here, Exploits' CEO Jeff Swinoga joins me to give an overview of this newest exploration junior to my recommended list. As he explains, Exploits is essentially a "new" company now, focused on uber-attractive exploration projects acquired in recent months in both Quebec and Ontario.

Just closing on the sale of its Newfoundland assets as we're posting this, Exploits now is in great shape financially going into 2026.

MORE IMPORTANT, as you'll hear, we have the potential here for some very near-term news that would move the needle!

Jeff gives you a look at these two areas, which will be led initially by exploration in Quebec.

Moving on, I ask about Jeff's observations of the broader mining industry, government policy and the like in Canada; not only as a CEO and involved in other companies over time, but as a Board Member of P.D.A.C.

TO LEARN MORE, visit Exploits at https://www.exploitsdiscovery.com/

Ahead of a packed agenda at the Resourcing Tomorrow Conference in London, C.E.O. Ross Orr and I visit to discuss the heightened interest in the company's patent application filing of earlier this year and the breakthrough technology behind it.

This "Zero Waste" process that can take BILLIONS of tons of mining waste the world over (starting, first, with BacTech targeting old tailings in Canada's Sudbury Basin) could provide massive benefits to the environment while unlocking myriad products--even fertilizer!--as a part of the process of completely elinminating old tailings/waste.

We go on to discuss the pending(?) Tenguel Project in Ecuador and its off-the-charts economics...all awaiting the right financing deal...and we muse beyond that on the vast upside STILL in Ecuador, together with present success stories.

CHECK OUT BacTech's revamped website at https://bactechgreen.com/

Here I visit with Victor once again in the wake of the Monday, Dec. 1 news that Amex has again dramatically increased the size of its holdings in the Abitibi...from under 200 sq. km. to 500 sq. km!

Victor explains the whys and wherefores of this...and the work now started on the Feasibility Study for the "starter" mine at Perron.

As you'll hear anew, the economics of this initial project are off the charts! Indeed, toward the end of our discussion Victor explains how gold could go all the way back to $2,000/ounce...and Perron would STILL be an elite project!!

Along the way, we muse, too, over the gold bull market: together with investors finally waking up to just how strong Amex's story is, we've seen nearly a FIVE-FOLD run in its share price from the low earlier this year.

LINKS:

Our discussion from September, detailing the updated PEA on the Perron Project, now going toward a Feasibility Study: https://www.youtube.com/watch?v=_7VgU16S0ac

Amex's website: https://www.amexexploration.com/

Here, Chris is joined by Executive Director Mark Compton and Projects Manager Devon Coquillard to discuss the upcoming annual meeting (the 131st!!) of the A.E.M.A. to be held in the Reno, Nevada area.

This venerable organization is part trade group, part public advocate and always an incubator for everything to do with mining and ancillary industries. As you'll learn in this overview, the upcoming conference will be LOADED with technical knowledge, new technologies, job opportunities (in some of the highest paying sectors in America) and MUCH more.

As you may well already know from our own coverage of these industries, public policy and more, extractive industries and associated ones overall are enjoying their biggest renaissance in many years; this, of course, as economic and national security imperatives are driving this trend. Opportunities abound; and yet so, too, do the still-daunting tasks ahead of us which will require much more in the way of a national industrial, energy and economic policy--with the proper investments--to succeed.

For more on the A.E.M.A., visit https://www.miningamerica.org/

To learn specifically about the annual meeting agenda, see https://www.miningamerica.org/annualmeeting

(NOTE: As Devon indicates in our discussion, though on-line pre-registrations have closed, you can STILL register on site.)