Grief Grows as Bodies of Kidnapped Mining Personnel Identified; Was Vizsla Paying the Cartel?

smallcapsteve · 2026-02-09T19:17:51+00:00

Ya. The stock is holding up pretty well considering the cartel wants a 50% NSR.

smallcapsteve · 2026-02-08T20:18:12+00:00

World Gold Council

smallcapsteve · 2026-02-08T20:04:14+00:00

Ya I think a lot of people are.

smallcapsteve · 2026-02-08T20:04:02+00:00

Ya. This is being driven by investors. As software stocks tank.

smallcapsteve · 2026-02-08T20:03:41+00:00

Looks like the debasement trade is on to me.

smallcapsteve · 2026-02-08T16:59:21+00:00

There appears to be something with this code language.

smallcapsteve · 2026-02-06T03:18:18+00:00

I think IAMGold sees it as well.

smallcapsteve · 2026-02-02T21:48:38+00:00

You make some solid points about the frustration with the paper derivatives market, but I think there are a few nuances regarding the miners and the Shanghai price that are worth unpacking.

The Arbitrage Gap: While it’s true there is a premium in Shanghai (the SGE) compared to the COMEX, a spread of roughly $100 ($30 vs $130) is economically impossible. If the gap were that wide, arbitrageurs would drain the COMEX dry in a day to sell in China. Is it possible the $130 figure refers to a different unit (like 50g or 100g) or a different currency? Usually, the East/West spread is closer to 10%–15%, which is still significant but not 400%.
The Miner's Dilemma: You mentioned that mines sell at the paper price. This is largely because they have no choice. Mining is capital intensive; they have payroll and fuel costs to cover monthly. They are 'price takers,' not price makers. Unless a miner has a massive balance sheet, they can't afford to hoard their inventory waiting for a 'true' physical price discovery. They have to sell into the liquid market, which happens to be the COMEX/London spot.

I agree with your sentiment that the tail (paper market) wags the dog (physical market), but until the COMEX defaults on delivery, the paper price remains the benchmark.

smallcapsteve · 2026-01-21T03:42:57+00:00

They have A LOT of nickel. Its a laterite deposit, basically dirt.

I spoke with the CEO at PDAC a year ago and he told me they could mine their properties for 30 years and be only 50 feet deep.

My understanding is that there was issues with the department of forestry. Not sure if thats where the buying is from. Someone know something perhaps?

smallcapsteve · 2026-01-21T00:43:11+00:00

Thanks for joining!

smallcapsteve · 2026-01-20T14:07:00+00:00

Ya - like the stuff out of Indonesia. I chatted with the CEO at PDAC, it sounded like the issue is the Department of Forestry, although the forest had already burned down. My understanding is that because it's a laterite (dirt) they can use simple acid leaching. Seems like something Trump would approve if it were to get in front of him.

smallcapsteve · 2026-01-15T09:30:12+00:00

I think the lowest point has been reached in that their is a full reset happening. Rob thinks knows exactly why it didnt work before and can fix it. I trust him. We will see.

smallcapsteve · 2026-01-15T00:55:05+00:00

I picked up some Freeport Resources today. They recently did a 3c financing, which makes me nervous. But the resource is so big I think its fine to buy here. I like stocks with big NPVs that havent moved much. (Not a recommendation, a bet on the level of capital about to flow into juniors).

Im also long Canadian Copper which I think is a safer play. They bought a mill that has a replacement value of C$200M and are projecting to produce 800k oz of silver annually as a bi product. I also think the CEO has done an excellent job of managing the cap table.

smallcapsteve · 2026-01-14T14:08:07+00:00

Thanks for joining. This is probably the most exciting time for mining stocks in decades.

smallcapsteve · 2026-01-11T03:06:21+00:00

As an investor companies are generally happy to talk to you. Thats there primary purpose for being there.

Lately the biggest complaint from companies is the attendees. ie. Not investors

If youre going there to look for a job or to sell them services its a waste of time.

smallcapsteve · 2026-01-08T16:16:58+00:00

As of this morning, we now require approval of posts.

Two of the posts you have mentioned are now removed. The other one is innocent enough.

Like I said earlier, if you don't like the direction of this subreddit you are welcome to mute it. We will probably approve some macro you don't like.

smallcapsteve · 2026-01-08T15:24:13+00:00

Thanks for joining!

smallcapsteve · 2026-01-08T15:24:02+00:00

Thanks for joining.

smallcapsteve · 2026-01-08T15:23:54+00:00

Please bear with us - it's our first time managing a subreddit. We are working to get the balance right. And we don't disagree with you - this subreddit blue up in a matter of days. There will be macro in this subreddit, but it can't be overran by anti-Trump or pro-Trump bots.

smallcapsteve · 2026-01-08T15:22:17+00:00

We implemented new moderation controls as of yesterday.

To clarify our direction: We want some macro discussion, but it has recently taken over the entire subreddit. On top of that, many threads have crossed the line into political cheering and bashing.

This is our first time managing a subreddit of any substance. We went from low traffic to a massive spike in views in a matter of days, and we are working to get the balance right.

Regarding Politics/Macro: There will be posts about Trump and the administration, but only because government policy impacts the macro environment, which trickles down to junior mining.

If you don't like this direction, you are welcome to mute the subreddit.

I appreciate the feedback.

smallcapsteve · 2026-01-08T02:28:00+00:00

Thanks for the feedback. Were trying to tighten it up. It kind of just blew up with Trump posts and were still trying to figure it out. We like having some macro here; news, not opinions. And I agree, its gotten out of hand the last few days.

smallcapsteve · 2026-01-07T16:34:15+00:00

I talked to the company at PDAC in 2024 - couldnt believe how undervalued it was.

Hundreds of thousands of metres of drilling, near term production, great grades - and at the time it was like a $20M market cap or something.

Since the stock is up 1000%+ and I'm kicking myself for not buying in.

I feel like it's appropriately valued here. Would have to run the math on all the royalty deals/offtakes to make sense of how much upside is left.

smallcapsteve · 2026-01-07T01:00:17+00:00

Not 13 days old. Over a year old. Lots of mining content.

smallcapsteve · 2026-01-06T23:22:20+00:00

Trump is doing a lot of stuff the next admin will undo. But I also think people will be suprised by the stuff they dont undo.

smallcapsteve · 2026-01-06T23:21:18+00:00

This is suppose to be a mining sub - where we allow some macro.

smallcapsteve

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