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Lab Report | Sep 24 Daily Market Overview & Deep Dive on Meridian, Nine Mile, and Algo Grande

CEO.CA Sep 24, 2026 46:50

Summary

Meridian Mining's Cabo feasibility study delivers a 108% IRR and roughly nine-month payback, pointing to a potentially very high-margin gold-copper mine.

Nine Mile Metals reports 5.09% copper equivalent over 14.15 metres in the Bathurst mining camp, with grades strengthening at depth.

Algo Grande confirmed 68 metres of copper-silver-gold mineralization across two Sonora skarn zones, suggesting a multi-horizon system with vertical continuity.

The host uses the Lassonde Curve (a junior mining valuation lifecycle model) to argue Nine Mile and Algo Grande are priced like pure concepts.

The host expects quantitative easing to drive gold, silver, and copper sharply higher while miners remain valued at far lower metals prices.

Key points on Pan American Silver

  • The host notes in passing that MAG Silver — founded by Algo Grande advisor Peter McGaugh — was taken over by Pan American Silver.

Allan Barry Laboucan's takeaways

  • Top takeaway He argues a 'perfect storm' is building for gold, silver and copper — calling QE inevitable and closer than people think — and that miners, developers and explorers are still valued as if gold were $2,000 or less, silver $35 or less and copper $3 or less, making metal stocks a tremendous opportunity.
  • He judges projects on IRR and payback rather than NPV, and says Meridian's roughly 108% IRR, US$322 million initial capital and sub-one-year payback (about 0.7 years at spot prices) should let it be financed mostly with debt on good terms.
  • He applies a Lassonde curve lens to all three companies: Meridian sits in the development-phase sweet spot with a move up the right side ahead, while Nine Mile and Algo Grande are wrongly priced as pure concept stocks with large left-side potential.
  • He discloses he is a Nine Mile shareholder and calls its C$20 million valuation extremely cheap for 5%-plus copper equivalent intercepts in the Bathurst Mining Camp.
  • His macro read as of the taping: Wall Street stocks have topped with the Dow breaking below its 50-day average, WTI crude recently over $100 a barrel on war tensions, and yields being pushed up by inflation and roughly $40 trillion of US debt against $350-plus trillion of global government debt.