Quotes I remind myself of:
“Give me free optionality and I’ll make you a millionaire” – Pierre Lassonde
“Most people in the business don’t know how to value optionality.” – Pierre Lassonde
“We live in a world where optionality is not priced. It is not valued. And yet there is enormous value in optionality.” – Pierre Lassonde
“This is the easiest sector in the world because it always crashes and always rallies” – Pierre Lassonde
“The size of the prize, the cost of the test, and your chance of success” – Craig Perry on exploration
“Money is made on the Micro” – Rick Rule
“I love circumstances when the shorts are against me” – Rick Rule
Below are some education videos and articles for investors who wants to learn more about geology, mining and what to think about as a mining equity investor…
Investing in Junior Miners
Resources on exploration
- We assessed 500 exploration companies – what are 5 most important learnings
- “What are the odds” (of a discovery)
- “What does a discovery look like? A look through the early stages of discovery and failure.”
- Exploration Radio (Podcast about mining and exploration)
- Kenorland Minerals Discovery Study
- Using Real World Data to Improve Geological Models – Scott Briscoe
- Uncertainty and Risk in Mineral Exploration: Considerations for Geoscientists – Patrick Highsmith
- Minex Consulting Publications
- Keynote Speaker: Michael Gentile| Red Cloud’s Fall Mining
- Beware of Mining Stock Value Traps with Rick Rule & Brian Leni
Presentations by economic geologist Brent Cook:
- “How to Turn Rocks Into Money: Brent Cook” (Really good)
- Brent Cook: “Speculators Must Have Boots on the Ground” – 2020
- “The Geology of High-Grade Precious Metal Deposits” Brent Cook presents at the Metals Investor Forum
- Brent Cook at Metals Investor Forum – 2019
- Brent Cook at Metals Investor Forum – 2016
- Facts Trump Fiction in Exploration Analysis – Brent Cook
- Brent Cook at Sprott Resource Conference – 2015
- Brent Cook at Cambridge House International – 2013
Presentations by economic geologist Joe Mazundar:
- Joe Mazundar at Metals Investor Forum – 2019
- Joe Mazundar at Metals Investor Forum – 2019
- Joe Mazundar at Metals Investor Forum – “What to buy? Quality vs. Leverage?” – 2016
Interviews with Pierre Lassonde
Presentations by economic geologist Quinton Hennigh
Misc
Junior investing experts
- Five Pro Tips for Successful 2024 Resource Investing with Pro Mining Investor Brian Leni
- Ten Junior Resource Stock Investing Lessons Learned in 2023 by Bill Powers (most fail at #4)
- Dave Lotan – Commodity Metals Outlook And Pro Tips From A Strategic Resource Investor
- How To Make Your First Million Dollars via Junior Mining Stocks with Bill Powers
- Warren Gilman’s thoughts on mining investing
- How to invest in nickel
Rick Rule
Investing in general
Discovery Stories
- Discovery of the Cadia Deposits, NSW (>80 Moz AuEq)
- Epithermal 101 With Caleb Stroup CEO Headwater
- Dave Royle – Halcyon days exploring in South America
- Geology/MiningAn Introduction to Sig Meussig’s
- Forums posts during the Fruta Del Norte Discovery
- Twitter thread on David Lowell
- Arequipa Resources Discovery
- Yanacocha discovery
- Escondida Discovery
- The Onto Cu-Au discovery
- The Fruta Del Norte Discovery
- The Bisha discovery
- Discovery Tales Episode 1 – Carlin
- Discovery Tales #2 Archimedes
- Cadia Discovery Post
- Cadia Discovery article
- Chalice’s Alex Dorsch on just ‘how rare’ the Julimar nickel discovery really is
- Discovery of the Havieron Gold-Copper deposit, WA
- Thousand Bagger in Uranium Mining
Mining Stories
- $2K Gamble to Mining Empire: The Wisdom of Jon Goodman
- Ian Telfer Built a $21B Gold Major in 5 Years from $17M
About Metals
- PLATINUM Documentary: Mining, Science and History
- PALLADIUM Documentary: Mining, Science and History
- History of metals (prices) in the US
- Make It Do – Metal Shortages During World War II
- Metallurgy And The War
About Mining
- Economics of vein mining (Brent Cook)
- Economics of Open Pit mining: Mill vs Leach (Quinton Hennigh)
- Mining For Beginners – How Does a Metals and Mineral Mine Work?
Drilling methods:
Mining methods
Exploration and Resource Estimation
- Exploration Process
- Mineral Reserves, Resources and Estimation
- Geophysical Characterization, Cahuilla Epithermal Au-Ag Deposit
- How to Analyze Exploration Company Till & Soil Samples
- An Introduction to ZTEM Surveys in Mineral Exploration
Metallurgy
Different Ore Deposits:
- Magmatic Nickel Deposits
- VMS and Sedex
- WMS
- Porphyries, Skarns & IOCG
- Greenstone Gold
- Epithermal Deposits
- Carlin Gold Deposits
- Witwatersrand Gold
- Orogenic Gold Deposits
Exploration
- Stuart Smith – Evolution of the Porphyry Exploration Model
- 3- Geophysics for Porphyry Copper Deposits- SW N. America- Mark Thoman, 2018
Top Discovery Returns in 6 months
Cost of a Mill – Source
Discoveries are getting deeper – Low hanging fruit gone (Source)
The discovery sequence at Cadia:
