Company Interviews

• Canyon Resources (ASX:CAY) - Premium Cameroon Bauxite Mine Ships First Ore Mid-2026

  Interview with Peter Secker, CEO of Canyon ResourcesOur previous interview: https://www.cruxinvestor.com/posts/canyon-resources-asxcay-fast-tracking-worlds-largest-high-grade-bauxite-development-7892Recording date: 5th December 2025Canyon Resources (ASX:CAY) is advancing rapidly toward mid-2026 production at its Minim Martap bauxite project in Cameroon, executing one of the mining industry's most compressed development timelines. The company has progressed from mining license approval in late 2024 to full development mode, with all major equipment ordered and financing secured.The project's economics are compelling: a pre-tax net present value exceeding $800 million, 29% internal rate of return, and modest capital costs of just $97 million to first production. Operating costs of $35 per ton position Minim Martap competitively in the global market, particularly given the premium-grade ore quality of 51% alumina with less than 2% silica. This quality commands a $10 premium over Guinea's standard pricing, translating to margins of $25-30 per ton at current market prices of approximately $81-82 per ton.CEO Peter Secker emphasized the project's market timing: "Chinese demand for bauxite is strong. Guinea obviously have a few problems with some decisions they've made recently. So everybody is looking for an alternate source of bauxite and Minim Martap coming on stream mid next year. Perfect timing."The development's critical path centers on rail infrastructure. Locomotives ordered from China will arrive in February 2026, with commissioning in March to enable ore hauling by April. The mining contractor, experienced in African bauxite operations, mobilizes in January. Initial production of 2 million tons annually will scale dramatically to 10 million tons by 2031 as World Bank-funded rail upgrades totaling $820 million are completed, potentially generating $200 million in annual free cash flow.Canyon has also raised equity to increase its Camrail stake from 9% to over 30%, seeking operational control over the critical 800-kilometer rail corridor to the Port of Douala. As Cameroon's first major mining project, Minim Martap benefits from strong government support and first-mover advantages in an emerging jurisdiction with significant mineral potential across multiple commodities.View Canyon Resources' company profile: https://www.cruxinvestor.com/companies/canyon-resourcesSign up for Crux Investor: https://cruxinvestor.com

  --------  

  17:53

  --------

  17:53
• Electra Battery Materials (NASDAQ:ELBM) - North America's First Cobalt Refinery Targets 2027 Start

  Interview with Trent Mell, CEO of Electra Battery Materials Corp.Our previous interview: https://www.cruxinvestor.com/posts/electra-battery-metals-tsxvelbm-pioneering-north-americas-critical-mineral-independence-7527Recording date: 5th December 2025Electra Battery Materials is progressing with construction of North America's first battery-grade cobalt refinery, marking a significant step toward reducing Western dependence on Chinese critical mineral processing. The Canadian facility, located just north of Toronto, targets production of 6,500 tons annually starting in 2027.CEO Trent Mell described the company's transformation as "Electra 2.0" following a comprehensive financial restructuring. The company raised $82.5 million in new capital from three levels of government, including the U.S. Department of Defense, alongside private investors. Simultaneously, lenders converted 60% of $67 million in debt to equity, demonstrating confidence in the project's viability. This recapitalization addresses the financial constraints that had paralyzed development over the previous two years.The brownfield refinery redevelopment carries an estimated capital expenditure of $69 million and is valued at over $250 million upon completion. At full capacity, the facility targets $30 million in annual EBITDA, with first-year production expected to generate $15-18 million during the 12-month ramp-up period.Commercial stability comes from a five-year tolling agreement with LG, the largest non-Chinese cobalt buyer globally. This contract covers 60-80% of production at fixed processing margins, insulating Electra from cobalt price volatility. Mell emphasized a conservative approach: "Don't get greedy. Lock in a margin. Let's just not mess it up."Demand fundamentals remain robust despite slower electric vehicle adoption rates. Mell noted that industrial and defense applications, including military drones and night vision goggles, would consume the facility's entire output even without EV demand. Indicative interest already stands at twice production capacity.The 2026 construction timeline includes contractor selection in December 2025, with detailed budgets released in January 2026. Cold commissioning begins late 2026, positioning the facility for commercial production throughout 2027. China currently controls approximately 70% of global cobalt refining capacity, making Electra's domestic processing capability strategically significant for North American supply chain security.View Electra Battery Metals' company profile: https://www.cruxinvestor.com/companies/electra-battery-metalsSign up for Crux Investor: https://cruxinvestor.com

  --------  

  13:16

  --------

  13:16
• E3 Lithium (TSXV:ETL) – DLE Success & EPEA Filing Power 2026–2028 Commercial Push

  Interview with Chris Doornbos, President & CEO of E3 Lithium Ltd.Our previous interview: https://www.cruxinvestor.com/posts/e3-lithium-tsxvetl-pioneering-lithium-development-in-the-heart-of-canadas-energy-industry-5064Recording date: 5th December 2025E3 Lithium has achieved significant technical and regulatory milestones as it advances its Alberta-based direct lithium extraction project toward commercial production by 2028/29. The company successfully commissioned its demonstration facility in September 2025, producing battery-grade lithium carbonate within just three weeks—a timeline CEO Chris Doornbos described as "generally not heard of" for such complex processing equipment. This achievement validates E3's proprietary 30-column DLE system while delivering recovery rates exceeding 95% at the extraction stage.The technical progress comes amid a recovering lithium market, with prices climbing approximately 40% from June 2025 lows. Doornbos attributes this recovery to tight supply-demand fundamentals rather than speculation, noting that demand continues growing from Chinese EV markets, battery storage facilities, and increasingly from US data center infrastructure. With 75% of global lithium production concentrated in China, Western governments are prioritizing domestic supply chain development, creating favorable policy conditions for North American developers.E3 has strategically recalibrated its commercialization approach, targeting 12,000 tons annual carbonate production for Phase 1 rather than the previously planned 32,000 tons of hydroxide. This revision reduces initial capital requirements while maintaining competitive economics at approximately $73,000 per installed ton—comparable to Rio Tinto's portfolio average. The company's Leduc aquifer operates at 16 times atmospheric pressure, essentially self-delivering brine and dramatically reducing operational pumping costs.On the regulatory front, E3 received Alberta's first lithium facility license under the province's brine-hosted mineral scheme and has submitted its Environmental Protection and Enhancement Act application, with commercial facility permits advancing through 2026. CEO Doornbos has transitioned to Executive Chairman to focus specifically on securing offtake agreements and project financing, reflecting management's confidence in the technical team's execution capabilities as the project moves toward construction and commercial operations amid North America's projected 300,000-ton lithium deficit through 2030.Viee E3 Lithium's company profile: https://www.cruxinvestor.com/companies/e3-lithiumSign up for Crux Investor: https://cruxinvestor.com

  --------  

  48:39

  --------

  48:39
• First Mining Gold (TSX:FF) – 5Moz Springpole Targets Q1–Q2 2026 Federal EA Decision in Canada

  Interview with Dan Wilton, CEO of First Mining Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/first-mining-gold-tsxff-approaching-key-permitting-milestone-6790Recording date: 4th December 2025First Mining Gold is approaching a pivotal moment in its development of two major Canadian gold projects, with CEO Dan Wilton outlining a clear pathway toward industry partnership and construction decisions over the next several years.The company's flagship Springpole project in Ontario, containing approximately 5 million ounces, awaits environmental assessment approval targeted for late Q1 or early Q2 2026. This milestone represents the culmination of an eight-year permitting process and addresses longstanding investor concerns about developing a deposit located in a lake bay. The recently updated prefeasibility study demonstrates robust economics with $2.1 billion after-tax NPV at $3,100 gold, rising to $3.8 billion at current spot prices of $4,200.Wilton emphasizes the project's exceptional gold price sensitivity, noting that "every hundred bucks the gold price goes up, that's $250 million of after tax NPV." Following environmental approval, the company plans to pursue an industry partnership modeled on Australia's Gold Road Resources, which retained 50% ownership while a partner built the mine, ultimately leading to a $2.5 billion acquisition.The company's second major asset, Duparquet in Quebec, contains 3.5 million ounces of measured and indicated resources and represents one of Canada's highest-grade open pit projects. Unlike Springpole, First Mining intends to advance Duparquet independently toward a potential 2030-31 construction decision, with the company currently expanding resources through ongoing drilling.First Mining has systematically monetized non-core assets, including recent partnerships on the Cameron project and retained interests in the high-grade Pickle Crow project. Trading at approximately $30 per ounce of resources compared to Canadian peer averages of $150-200 per ounce, Wilton frames the environmental assessment approval as "the biggest catalyst that we will see in this company probably from the time that it was formed."View First Mining Gold's company profile: https://www.cruxinvestor.com/companies/first-mining-goldSign up for Crux Investor: https://cruxinvestor.com

  --------  

  17:34

  --------

  17:34
• Exploits Discovery Corp (CSE:NFLD) - Strategic Transformation Complete, Drilling Ahead

  Interview with Jeff Swinoga, CEO of Exploits Discovery Corp.Our previous interview: https://www.cruxinvestor.com/posts/exploits-discovery-csenfld-new-found-gold-deal-unlocks-10m-treasury-value-7947Recording date: 5th December 2025Exploits Discovery Corp (CSE:NFLD) is a resource-stage gold exploration company focused on advancing properties with established historic resources in premier Canadian mining jurisdictions including Quebec and Ontario. Today it has completed a transformational deal with New Found Gold, receiving 2.8 million shares now valued at over $11 million plus a 1% royalty on properties along the Appleton fault. CEO Jeff Swinoga discusses how the company has strategically repositioned from grassroots exploration to resource-stage development.Key Highlights:- New Found Gold Transaction: 2.8M shares valued at $11M+ (up from $7M at announcement) with 1% NSR royalty on Bullseye and other properties adjacent to Keats discovery.- Enhanced Treasury: Approximately $3.6M in working capital against $11M market cap - analyst Brian Lundin notes company is "trading at cash value" with investors getting "the gold for free"- Resource Portfolio: Acquired three Quebec properties and one district-scale Ontario asset containing ~700,000 ounces of historic gold resources.- January 2026 Drilling: Fenton property programme targeting high-grade gold along magnetic corridors intersecting diabase dykes, following extensive geophysical work- Strategic Backing: Eric Sprott holds ~14% ownership stakeSwinoga explains: "We wanted our shareholders to benefit from a rising gold price by having resources in the ground."The company is at an inflection point, transitioning from transaction completion to operational execution with immediate drilling catalysts and systematic technical work designed to improve targeting beyond previous operators' efforts.Learn more: https://cruxinvestor.comSign up for Crux Investor: https://cruxinvestor.com

  --------  

  9:31

  --------

  9:31

More Business podcasts

Trending Business podcasts

About Company Interviews

Company Interviews: Podcasts in Family