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The Hole Truth: Mining Investment Podcast

The Hole Truth: Mining Investment Podcast

By: Resources Rising Stars
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The Hole Truth: Mining Investment Podcast is a product of Resources Rising Stars, hosted by Paul Armstrong, a seasoned expert in the world of finance and resources. With more than 30 years of experience as a finance journalist under his belt, Paul brings a wealth of knowledge and insight to his conversations with some of the most prominent figures in the industry. Each episode of The Hole Truth: Mining Investment Podcast is a deep dive into the inner workings of those resources companies which are making things happen, quizzing those in charge about their projects, their prospects, the challenges they face and the opportunities they offer to investors. Whether you’re an investor, industry professional, or simply interested in the latest developments in mining, energy, and resources, The Hole Truth is the podcast for you. Join Paul and his guests to hear about the latest investment opportunities in the resources sector. Produced by Resource Media ———— The Hole Truth: Mining Investment Podcast is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.Copyright 2023 All rights reserved. Economics Personal Finance Politics & Government
Episodes
  • A Ticket in a Very Attractive Exploration Lottery - David DeTata (ASX: SER)

    A Ticket in a Very Attractive Exploration Lottery - David DeTata (ASX: SER)
    Jun 30 2026
    Description: Strategic Energy Resources is about to embark on an extensive drilling campaign at three copper and gold projects in Queensland. Two of these will be funded by big JV partners. There's known mineralisation at each. The drill rigs will be turning almost non-stop between now and Christmas with assays to flow. Guest Bio Dr David DeTata is the Managing Director of Strategic Energy Resources Limited (ASX: SER), a role he has held since 2021, and has been central to forming and executing the company's strategy of Frontier Discovery. An accomplished scientist and exploration executive, he brings more than 20 years' experience leading technical programs across government, public and private organisations. He is a graduate of The University of Western Australia and serves on the Science Advisory Committee of the Mineral Exploration Cooperative Research Centre (MinEx CRC). At Strategic Energy Resources, Dr DeTata leads the company's undercover exploration push targeting the concealed extensions of the world-class Mt Isa Inlier, including the Canobie, Bulimba and Diamantina copper and gold projects in Queensland. Produced by Resource Media The Hole Truth: Mining Investment Podcast is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. Links The Hole Truth LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcast The Hole Truth YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC&si=iOcGscff7kMSw8c7 The Hole Truth Website: https://resourcesrisingstars.com.au/the-hole-truth-podcast/ The Hole Truth Instagram: https://www.instagram.com/theholetruthpodcast/ Company Website: https://strategicenergy.com.au/ Key Insights Three Drilling Programs, One Tight Market Cap Strategic Energy Resources is offering investors leveraged exposure to exploration through three sequential diamond drill programs across its Canobie, Diamantina and Bulimba copper and gold projects in Queensland — more than 3,000 metres of drilling across five targets, all carrying known mineralisation. With a market capitalisation of around A$9 million, a tight register following a recent consolidation and capital raise, and two major shareholders holding roughly 17–18%, even modest exploration success could move the stock materially. Majors Are Funding the Bills — and SER Gets Paid to Operate Two of the three programs are funded by major partners. At Canobie, Fortescue (via subsidiary FMG Resources) is in its third year of drilling and can earn up to 80% by funding $8 million of exploration. At Bulimba, Sumitomo Metal Mining Oceania can earn up to 80% through $6 million of spend and 7,500 metres of drilling over five years, and up to 90% on completing a feasibility study. SER remains the operator on both joint ventures and collects an operator fee of around 10%, spreading exploration risk while retaining discovery upside. Canobie: Chasing the Gravity Target Next to the Mineralisation Canobie sits on the Quamby Fault trend, the same structure that hosts the Ernest Henry mine roughly 140 kilometres to the south, but undercover to the north. Last year's drilling at the Charcoal Bore prospect intersected low-level copper-gold mineralisation in an offset magnetic and gravity target. Crucially, the mineralisation was found where the rig clipped the gravity feature rather than the magnetic one — so this program returns to drill the centre of that gravity target in search of higher grade, alongside the high-priority Alcala target. Bulimba: A Conceptual Gold Play That Attracted a Global Major The Bulimba Gold Project lies roughly 50 kilometres northwest of Chillagoe in northeast Queensland, on a structural trend (the Palmerville–Gamboola Fault Zone) that hosts the Mungana and Red Dome gold-copper district. SER identified the ground as a conceptual, undrilled intrusion-related gold systems (IRGS) play and quickly attracted Sumitomo. The first six months of the partnership will see more than a million dollars spent, beginning with airborne gravity and passive seismic surveys ahead of the first drill hole at the Coral Trout prospect, which also carries Queensland Government grant funding. Diamantina: An Anglo American Cast-Off With a 25%-Copper Hit The 100%-owned Diamantina Copper-Gold Project, 280 kilometres south of Cloncurry, was acquired from Anglo American after roughly $20 million of prior spend — Anglo stepped back as part of its tie-up with Teck, retaining shares and a royalty rather than walking away entirely. SER picked it up for the price of around two drill holes (cash plus shares). Historical drilling includes 161 metres at 0.4% copper with a higher-grade 17.3 metres at 1.76% copper, plus a vein hit of 0.67 metres at 25.6% copper. A $275,000 Queensland Government CEI grant funds the first hole, sited about 400 metres from that high-grade intersection, with the ...
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    15 mins
  • Greenvale goes hunting in the Northern Territory - Neil Biddle & Alex Cheeseman (ASX: GRV)

    Greenvale goes hunting in the Northern Territory - Neil Biddle & Alex Cheeseman (ASX: GRV)
    Jun 23 2026
    Greenvale has just put its foot on a big lump of land. It says it's highly prospective for uranium in the Northern Territory. It already has extensive known mineralisation and resources, but it believes this is just the start of the game. The exploration program is already underway and Neil Biddle and Alex Cheeseman are wasting no time in pushing the case for their project Guest Bio Neil Biddle is the Executive Chairman of Greenvale Energy Limited and joins The Hole Truth as one of the most experienced figures in Australian hard-rock exploration. A geologist and Corporate Member of the Australasian Institute of Mining and Metallurgy, he has more than 35 years of professional and management experience across precious metals, base metals, iron ore and battery minerals exploration in Australia and overseas. He is best known as a founding director of Pilbara Minerals, where he oversaw the acquisition, drill-out and development of the world-class Pilgangoora lithium project, helping take the company from a small-cap shell to a multi-billion-dollar lithium producer. He was also a founder of Bardoc Gold and the founding managing director of TNG Limited, and now leads Greenvale's push to build a substantial uranium portfolio in the Northern Territory. Alex Cheeseman is the Managing Director of Greenvale Energy Limited and joins The Hole Truth to drive the company's exploration agenda on the ground. A highly experienced Australian resources executive with more than 20 years' experience, he has worked across general management, corporate finance, strategy, commercial, operational and project development roles in the mining, energy and engineering sectors. Appointed Chief Executive Officer in May 2025 and elevated to Managing Director in March 2026, he leads Greenvale's exploration programs across its uranium projects in the Northern Territory and Queensland, as well as the advancement of the Alpha Torbanite project. Produced by Resource Media The Hole Truth: Mining Investment Podcast is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. Links The Hole Truth LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcast The Hole Truth YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC&si=iOcGscff7kMSw8c7 The Hole Truth Website: https://resourcesrisingstars.com.au/the-hole-truth-podcast/ The Hole Truth Instagram: https://www.instagram.com/theholetruthpodcast/ Company Website: https://greenvaleenergy.com.au/ Key Insights A District-Scale Uranium Bet in a Proven Province Greenvale has secured uranium exploration rights over roughly 2,466 square kilometres in the Pine Creek Orogen of the Northern Territory, acquired from Patronus Resources and combined with its adjoining Douglas River ground to form the new Thunderball Uranium Project. Management draws a direct geological analogy to Canada's Athabasca Basin, arguing the southwest portion of the Pine Creek region is highly prospective for unconformity-style uranium yet has been only lightly explored for the past several decades following early discoveries such as Ranger and Jabiluka. Thunderball as the Anchor Deposit and Drilling Focus The package includes the high-grade Thunderball deposit, which carries a historical inferred resource of around 829,000 tonnes at approximately 924 ppm uranium oxide for about 1.7 million pounds of contained uranium under the older JORC 2004 code. Greenvale plans to test extensions at depth and along strike with the aim of releasing an updated, JORC 2012-compliant resource. Cheeseman argues that a conventional hard-rock deposit in the order of 15 to 20 million pounds of high-grade uranium would represent a walk-up mine, framing the existing resource as a starting point rather than the prize. A 20-Kilometre Trend of Repeatable Targets Thunderball sits on the edge of the Hayes Creek fault zone, which management describes as a major mineralising plumbing system running around 20 kilometres into Greenvale's northernmost Douglas River tenement. With recent airborne radiometrics flown over the area, the company expects to define a trend hosting numerous hard-rock and paleochannel calcrete-hosted targets, including a 32-kilometre uranium-rich paleochannel that was drill-ready in 2012. The thesis rests on unconformity-style systems clustering rather than occurring in isolation, given the source granite has been shedding uranium into the system for an estimated 1.2 billion years. A Strengthening Uranium Macro Backdrop Biddle and Cheeseman argue the project is timed to a strengthening uranium cycle, noting that producers such as Cameco and Kazatomprom have signalled they are not incentivised to bring on new capacity until prices reach significantly higher levels than the current spot price. They point to rising long-term price forecasts from analysts, growing nuclear build-out in China, ...
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    22 mins
  • Killi Kills It with Iron Ore Acquisition - Hamish Halliday (ASX: KLI)

    Killi Kills It with Iron Ore Acquisition - Hamish Halliday (ASX: KLI)
    Jun 16 2026
    Killi Resources (ASX: KLI) has just acquired an exceptional iron ore project in Western Australia. It will produce iron ore which is very different from anything else produced in Australia. Killi Resources has just acquired an exceptional iron ore project in Western Australia. It will produce iron ore which is very different from anything else produced in Australia. This product will be in hot demand among the new generation of low-emission steelmaking facilities around the world. Guest Bio Hamish Halliday is a Non-Executive Director of Killi Resources Limited (ASX: KLI), a geologist with around 30 years of corporate and technical experience across the resources sector. He has been involved in the discovery and funding of multiple large-scale mineral projects across five continents. Halliday founded Adamus Resources, which he grew from a A$3 million float into a multi-million-ounce emerging gold producer, overseeing the discovery of the Southern Ashanti Gold Project in Ghana. He also co-founded a number of other successful junior mining companies, including Gryphon Minerals, Venture Minerals, Renaissance Minerals, Alicanto Minerals and Blackstone Minerals. At Killi, he is focused on advancing the Lodestone Iron Ore Project alongside the Richardson Street group and Chairman Nev Power, the former Fortescue Managing Director. Produced by Resource Media The Hole Truth: Mining Investment Podcast is a product of Read Corporate. Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. Links The Hole Truth LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcast The Hole Truth YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC&si=iOcGscff7kMSw8c7 The Hole Truth Website: https://resourcesrisingstars.com.au/the-hole-truth-podcast/ The Hole Truth Instagram: https://www.instagram.com/theholetruthpodcast/ Company Website: https://www.killiresources.com.au/ Key Insights A Rare, High-Grade Magnetite Body Unlike Anything Else in Australia Killi's newly acquired Lodestone Iron Ore Project hosts a fully recrystallised, coarse-grained magnetite body that Halliday describes as a geological freak. Granites on either side have reworked the mineralisation so the silica–magnetite bonds break apart easily, with grains up to five millimetres across — roughly 100 times coarser than nearby banded iron formations such as Karara. It is more analogous to high-grade bodies seen in Canada, Sweden and South America than to typical Western Australian iron ore. Built for the Green-Steel, Electric Arc Furnace Market The project's key commercial point of difference is that its product can supply the new generation of low-emission steelmaking facilities, whereas most Western Australian iron ore cannot. Electric arc furnaces are where the industry's growth is concentrated, using gas as a reductant rather than coking coal and offering around 80% lower CO2 emissions. Only about 3% of seaborne iron ore is direct-reduction (DR) grade, creating a structural supply shortage that Killi aims to help fill — and Halliday points to Champion Iron spending around half a billion dollars to lift its product toward DR grade as evidence of the premiums on offer. Simple, Low-Cost Processing and Premium Product Because the ore is so coarse and breaks apart easily, Killi can produce a 68–69% Fe concentrate from a 250-micron grind — about ten times coarser than Karara — pointing to a simple processing circuit. The project delivers around 33–40% mass recovery, with concentrate grades targeted at 69–70% Fe at very low impurities. Halliday frames the investment case as clipping the margin at both ends: lower production costs and a higher price, which ultimately translates into stronger free cash flow. Standout Location with Existing Infrastructure Lodestone sits roughly 200 kilometres from the Port of Geraldton, which has spare capacity, with grid power, a sealed road and a rail line running straight to the port — Halliday notes you can stand on the discovery outcrop and see all of it. With no need to build anything beyond the mine gate, the capital required is far smaller than a typical magnetite development, opening the door to a modest, low-capital start-up to generate early cash flow. A Substantial Resource with Major Growth Upside Killi already has an inferred resource of 110 million tonnes, but that tests only about 20% of a magnetite system extending some 25 kilometres of strike. The company plans to start drilling within weeks and aims to quadruple the resource toward roughly half a billion tonnes over the next 12 to 18 months. Running metallurgy, engineering with Sedgman and offtake discussions in parallel, Killi is targeting a pre-feasibility study in the second half of next year and a final investment decision within two to two-and-a-half years. The acquisition is backed by an A...
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    19 mins
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