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7 Junior Mining Stocks Our Viewers Asked Us to Review

The Deep Dive Sep 14, 2026 13:40

Summary

Franco-Nevada's $4.3B cash pile likely points to an accretive royalty acquisition rather than more shareholder returns; Metalla is named as a candidate target.

Golden Cariboo keeps posting Cariboo-style drill continuity at a $10M market cap, but no resource estimate yet — Osisko Development is the logical eventual buyer.

Excellon's Peru pivot hinges on expansion around the past-producing Mallay mine; share count has quadrupled since 2023, highlighting real dilution risk.

Bunker Hill's all-share merger with Silver47 (announced August 21) creates a vehicle that, given time, could absorb Blackrock Silver as the next consolidation step.

Oroco's banker-CEO hire signals a transaction playbook: Santo Tomás is being groomed for sale to a major, not built into production.

Key points on Artemis Gold

  • The host cites Artemis Gold's Blackwater mine (sub-$1,000/oz AISC) as proof low-grade open-pit economics work in the same province as Golden Caribou.
  • Blackwater is referenced as a regional comparable to validate Golden Caribou's continuity-style drill results.

Key points on Franco-Nevada Corp

  • The host argues Franco-Nevada is on the verge of a sizeable acquisition, pointing to management's Q2 call that capital will be deployed into M&A before further shareholder returns.
  • Available capital grew from $3.4B to $4.3B in a single quarter while the company was still doing deals, and quarterly operating cash flow ran at roughly $480M.
  • He reasons that a 1.8x NAV purchase is day-one accretive because Franco's higher multiple re-rates the target.
  • The dividend was raised from $0.38 to $0.44, which the host calls a rounding error against $4B of available capital.
  • He cites Paul Brink's standing objection that buyers end up paying for assets they don't really want, and notes Adrian Day thinks Metalla is the horse Franco-Nevada will likely back.

Key points on Blackrock Silver

  • The host floats Blackrock Silver as a potential future acquisition target for the new Bunker Hill/Silver 47 entity.
  • He notes Bunker Hill's combined ~$326M US market cap is currently below Blackrock's trading level, so he does not see Bunker as a near-term acquirer.

Key points on Silver47 Exploration Corp

  • The host describes Silver 47's all-share merger with Bunker Hill, announced August 21, at a 38% premium to Silver 47.
  • Silver 47 shareholders retain the big-board TSX listing, with the head office relocated to the mine site in Kellogg, Idaho.
  • The new entity will be led by Richard Williams as executive chairman and Sam Ash as CEO, while Galen McNamara moves from CEO of Silver 47 to president and chief investment officer of the combined company.
  • The host says former Silver 47 chairman Gary Thompson will remain on the board as a director and argues growth through acquisition is the new strategy.
  • He cites Silver 47's prior absorption of Suma Silver as evidence the new Bunker Hill Silver Corp is following the same playbook.

Adrian Day's takeaways

  • Top takeaway The host says he spoke with Adrian Day the prior week and that Day thinks Metalla is the horse Franco-Nevada is likely to back.
  • Day is presented as a resource-investment authority the host defers to on Franco-Nevada's M&A direction.

Michael Gentile's takeaways

  • Top takeaway The host flags that Michael Gentile is Solstice Gold's largest shareholder, having built a position above 16% when the market cap was $3M.
  • He frames the Solstice thesis as essentially a Gentile bet — that's mostly what moved the stock.

Steve Hyland's takeaways

  • Top takeaway The episode is a Q&A mailbag in which Steve Hyland answers viewer questions on seven junior mining names.
  • Hyland discloses he is long Golden Caribou and openly names Frank Callahan as a friend, with full transparency on the relationship.
  • He walks back initial skepticism and endorses the growth-through-acquisition thesis for the new Bunker Hill/Silver 47 vehicle, crediting Gary Thompson's influence.
  • He pitches his Above and Beyond Summit in Scottsdale on November 22–24, offering $500 off with promo code THEDEAPDIVE (expired October 1).
  • He closes by inviting viewers to leave more stock questions for future mailbag episodes.

Galen McNamara's takeaways

  • Top takeaway The host says Galen McNamara will move from CEO of Silver 47 to president and chief investment officer of the new Bunker Hill Silver Corp.
  • McNamara is presented as a continuity figure carrying the Silver 47 side of the merger into the combined company.

Gary Thompson's takeaways

  • Top takeaway The host says former Silver 47 chairman Gary Thompson will sit on the new Bunker Hill Silver board as a director, not in management.
  • Thompson is described as a believer in growth through acquisition — a thesis the host says he didn't initially love but has since been sold on.

Chad Williams's takeaways

  • Top takeaway The host says Chad Williams bought the Prairie Creek project in April for $12M ($10M cash, $2M paper) from RCF, which had taken Norzinc private in 2022 and then put in more money.
  • Chad is cast as the new owner of the mine that won't die — a project construction-stopped in 1982, three weeks before first pour, with multiple prior owners failing to build it.