Dig Deep Podcast

In this episode, we chat with Blake Mclaughlin, Vice President of Exploration at Axcap Ventures, a North American investment firm with a focus on mining, holding some of the most prospective gold belts in the United States and Canada, combining historical drilling success with modern exploration upside.

Blake has spent over a decade in the mining and metals industry and is highly experienced in taking mining companies from development into production. From grassroots junior exploration to advanced exploration, resource development, and project construction. Hes worked for a number of companies in the pre-resource to maiden resource stage.

Blake is on the podcast to give us an overview and history of Axcap, to talk about where to find exploration success, M&A in the junior space, and much more around the junior market.

KEY TAKEAWAYS

The company emphasises acquiring projects with substantial historical data and exploration spend, allowing them to leverage existing information



The current macroeconomic environment, characterised by geopolitical stability and monetary policies, is seen as favourable for gold prices



Axcap is actively conducting a 5,000-meter drill program at the Converse project, with initial results indicating promising intersections that could support a path toward a 10 million ounce resource



Axcap Ventures aims to advance and de-risk its projects rather than build large-scale mines, positioning itself for potential acquisition by larger producers



BEST MOMENTS

The structural setup for gold to perform well for the foreseeable future is pretty strong, in my opinion."

"We're in the middle of a 5,000 meter drill program right now at Converse in Nevada. The goal of this program is to show that there's a path towards a 10 million ounce resource."

"I think the exploration upside is a big part of that. We're underpinned by resources, and each of them has a really paradigm-changing exploration attribute that we will test."

VALUABLE RESOURCES

Mail: [email protected]

LinkedIn:https://www.linkedin.com/in/rob-tyson-3a26a68/

X: https://twitter.com/MiningRobTysonYouTube:https://www.youtube.com/c/DigDeepTheMiningPodcast

Web: http://www.mining-international.org

This episode is sponsored byHawcroft, leaders in property risk management since 1992. They offer:

Insurance risk surveysrecognised as an industry standard

Construction risk reviews

Asset criticality assessmentsand more



Working across over 600 sites globally, Hawcroft supports mining, processing, smelting, power, refining, ports, and rail operations. For bespoke property risk management services, visitwww.hawcroft.com

GUEST SOCIALS

Axcap Ventures LinkedIn Page

Blake McLaughlin LinkedIn Page

Contact: [email protected]



CONTACT METHOD

[email protected]

https://www.linkedin.com/in/rob-tyson-3a26a68/

Podcast Description

Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the Dig Deep The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into peoples experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.

This Podcast has been brought to you byDisruptive Media.https://disruptivemedia.co.uk/

In this episode, we have a returning guest who appeared twice back in 2022 (episodes 217 and 267). Marc Bishop Lafleche, CEO of Ecora Resources, who are a leading royalty company focused on supporting the supply of commodities essential to creating a sustainable future. Listed on the London Stock Exchange and the Toronto Stock Exchange, they have a proven track record of delivering value-accretive growth.

Marc has a banking and international finance background and has been with the company for the past 11 years, moving into the CEO role 3 years ago. Marc gives us an update on the company since we last spoke, and why they have changed focus, their recent acquisition, update on the current royalty market, and his thoughts on financing within the mining industry.

KEY TAKEAWAYS

Ecora Resources has shifted from relying heavily on a single coal royalty stream (Kestrel) to diversifying its portfolio with future-facing minerals



The company emphasises a strategy of quality over quantity in its royalty acquisitions, targeting low-cost assets that are expected to generate strong cash flows and withstand commodity price cycles.



With a sector-leading copper pipeline, Ecora is well-positioned to benefit from the increasing demand for copper driven by urbanisation, renewable energy, and electric vehicles



Royalty companies have become a key source of financing in the mining sector, providing flexible and less risky funding options compared to traditional debt and equity



BEST MOMENTS

"We've been quite deliberate and methodical... to build this business with the strategy of quality over quantity."

"I think 2025 will be a pretty important year for this company... starting to see free cash flow growth from a lot of the assets we've put into the business."

"The royalty sector has emerged as a key source of financing... because of its evergreen nature."

"The demand for electricity and the need for these critical minerals to me is really, really clear."

VALUABLE RESOURCES

Mail:        [email protected]

LinkedIn: https://www.linkedin.com/in/rob-tyson-3a26a68/

X:              https://twitter.com/MiningRobTyson YouTube: https://www.youtube.com/c/DigDeepTheMiningPodcast 

Web:        http://www.mining-international.org

This episode is sponsored by Hawcroft, leaders in property risk management since 1992. They offer:

Insurance risk surveys recognised as an industry standard

Construction risk reviews

Asset criticality assessments and more



Working across over 600 sites globally, Hawcroft supports mining, processing, smelting, power, refining, ports, and rail operations. For bespoke property risk management services, visit www.hawcroft.com

GUEST SOCIALS 

https://www.ecora-resources.com/

https://www.linkedin.com/company/ecora-resources-plc

https://x.com/EcoraResources



CONTACT METHOD

[email protected]

https://www.linkedin.com/in/rob-tyson-3a26a68/

Podcast Description

Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into people’s experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics. 

This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

In this episode, we chat to Honourable Shane Jones, member of the NZ government and the Minister for Oceans and Fisheries, Minister for Regional Development, Minister for Resources, Associate Minister of Finance, and Associate Minister for Energy. Shane entered Parliament in 2005 and joined New Zealand First as an MP in 2017.

As a proud born and bred Northlander, Shane has always asked the tough questions, identified policy solutions, and accelerated implementation in his political life …and has been a very vocal supporter of the mining industry, including the possibility of seabed mining. He very much sees New Zealand’s own natural resources as a pathway to economic prosperity, creating regional wealth and jobs. 

On the podcast, we discuss what the mining industry means to NZ, the policies the government have, and are looking to implement to make the industry more attractive and why companies should invest into NZ’s mining industry and much more.

KEY TAKEAWAYS

The New Zealand government, under the leadership of Shane Jones, is committed to revitalising the mining industry, reversing previous bans on oil and gas



New Zealand has developed a Critical Minerals List and a mineral strategy aimed at restoring pride in the natural resources sector



The introduction of Fast Track legislation aims to streamline the environmental permitting process for mining projects, allowing for quicker allocation of permits 



A $200 million co-investment fund has been established to encourage both local and international investment in the mining sector, addressing concerns about potential future government changes



BEST MOMENTS

"I believe a lot of the climate change hysteria is actually going to wreck Western economies unless we restore some balance to it." 

"We've got a kind of figurative Sahara desert of iron sands resource, largely in the ocean." 

"Any economy that races ahead, demonises, cancels its fossil fuels industry without an affordable strategy... is dicing with economic calamity." 

"No one enjoys a perfect history. So what we've got to do is ensure that mining as it goes forward is strongly defended."

VALUABLE RESOURCES

A Minerals Strategy for New Zealand -

Read more: https://www.mbie.govt.nz/building-and-energy/energy-and-natural-resources/minerals-and-petroleum/strategies/a-minerals-strategy-to-2040

New Zealand’s Critical Minerals List -

Read more: https://www.mbie.govt.nz/building-and-energy/energy-and-natural-resources/minerals-and-petroleum/critical-minerals-list/critical-minerals-list-2025

Free access to geoscience data:

https://www.nzpam.govt.nz/maps-geoscience/geodata-catalogue

https://www.nzpam.govt.nz/maps-geoscience/core-store

https://www.nzpam.govt.nz/assets/Uploads/the-mineral-potential-of-new-zealand-part-1-overview-of-new-zealands-mineral-deposits-and-their-resources.pdf

Improving regulatory settings - Read more: https://www.nzpam.govt.nz/nz-industry/rules-regulations/fast-track-approvals-process

Connecting with New Zealand’s mining sector -

Read more: https://mineralscouncil.co.nz/ -Invest NZ -

Read more: https://www.nzte.govt.nz/page/invest-or-raise-capital-with-nzte

Mail:        [email protected]

LinkedIn: https://www.linkedin.com/in/rob-tyson-3a26a68/

X:              https://twitter.com/MiningRobTyson YouTube: https://www.youtube.com/c/DigDeepTheMiningPodcast 

Web:        http://www.mining-international.org

This episode is sponsored by Hawcroft, leaders in property risk management since 1992. They offer:

Insurance risk surveys recognised as an industry standard

Construction risk reviews

Asset criticality assessments and more



Working across over 600 sites globally, Hawcroft supports mining, processing, smelting, power, refining, ports, and rail operations. For bespoke property risk management services, visit www.hawcroft.com

CONTACT METHOD

[email protected]

https://www.linkedin.com/in/rob-tyson-3a26a68/

In this episode, we have a returning guest who appeared back in November 2023 (Episode 392). Ed Bowie, CEO and Director at Beowulf Mining, a listed junior miner with a diversified portfolio of development-stage projects in iron ore, graphite, gold, and base metal projects in Sweden, Finland, and Kosovo.

With an exploration geology background, Ed has over 20 years of experience in the natural resources sector, having worked in corporate, advisory, and fund management roles and across a broad range of commodities and jurisdictions. Ed is going to give us an update on the company and its projects, details around community engagement, the support they receive from the EU, and the commodity price outlook.

KEY TAKEAWAYS

The Kallak project is currently undergoing a pre-feasibility study, with recent metallurgical tests confirming the ability to produce a high-grade, low-impurity iron ore concentrate. A slurry pipeline solution has been proposed to minimize community impact and logistical challenges.

Community engagement is central to Beowulf's development plans. The company prioritizes minimizing impacts on local stakeholders, particularly reindeer herders, and aims to secure a social license to operate through transparent communication and collaboration.

The pre-feasibility study for the Graphintech project has shown promising results, with plans to produce 25,000 tons of anode material annually. The project has a projected NPV of €924 million for phase one and over €2 billion for a potential phase two expansion.

Despite market fluctuations, the demand for high-quality iron ore and battery minerals is expected to rise, particularly as the steel industry shifts towards lower carbon technologies.

BEST MOMENTS

"We can produce an extremely high grade, low impurity concentrate suitable for decarbonizing the steel industry. So critical for the green transition in that respect."

"The solution that we've come up with is a slurry pipeline... it would be unseen, unheard, wouldn't impact local communities, no safety risks on the road."

"We intend to be a completely independent part of the supply chain, no dependence on China whatsoever."

"The awareness of the importance of raw materials and raw materials supply chains is... now everybody is aware of it."

VALUABLE RESOURCES

Mail:        [email protected]

LinkedIn: https://www.linkedin.com/in/rob-tyson-3a26a68/

X:              https://twitter.com/MiningRobTyson YouTube: https://www.youtube.com/c/DigDeepTheMiningPodcast 

Web:        http://www.mining-international.org

This episode is sponsored by Hawcroft, leaders in property risk management since 1992. They offer:

Insurance risk surveys recognised as an industry standard

Construction risk reviews

Asset criticality assessments and more



Working across over 600 sites globally, Hawcroft supports mining, processing, smelting, power, refining, ports, and rail operations. For bespoke property risk management services, visit www.hawcroft.com

GUEST SOCIALS 

www.beowulfmining.com

www.jokkmokkiron.se

https://www.grafintec.fi/en/etusivu-en/

LinkedIn: https://www.linkedin.com/company/beowulf-mining-plc-bem-/

X: https://x.com/BeowulfMining



CONTACT METHOD

[email protected]

https://www.linkedin.com/in/rob-tyson-3a26a68/

Podcast Description

Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into people’s experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics. 

This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

In this episode, we chat with Neil Herbert, Chairman of Pulsar Helium, a leading primary helium exploration and development company listed in Canada and the United Kingdom, with its flagship Topaz Project in Minnesota, USA, which has one of the world's highest concentrations of helium. Neil brings over 30 years leading and advising companies from start up, through IPOs, development and over US$3bn of M&A. 

KEY TAKEAWAYS

Pulsar Helium is focused on a primary helium project in Minnesota, which boasts some of the highest concentrations of helium globally, with a significant advantage of having no hydrocarbon association.

Helium is increasingly vital for various technological applications, particularly in microprocessor production and healthcare (e.g., MRI scanners). 

The U.S. federal government is actively supporting projects like Pulsar Helium, aiming to ensure local supply chains for critical materials. 

The project requires relatively modest capital expenditure (between $10 million to $50 million) due to its small footprint and the absence of toxic gases. Financing options include existing bank facilities and potential state and federal support.

If current testing goes well, Pulsar Helium aims to reach a financial investment decision (FID) early next year, with potential production starting as early as 2026, depending on the success of ongoing operations and permitting processes.

BEST MOMENTS

"The value of helium is around 100 times that of natural gas. It's a very high value product, and the potential returns on these projects could be phenomenal."

"We started looking at projects in Africa, but when this opportunity came up in the States, it was just a no brainer. It was a project that was so good, you couldn't miss it."

"The biggest consumer in the world of helium is actually the United States. They have a big space program and a big healthcare industry, making local supply crucial."

"We're looking at a range of CapEx around 10 to 50 million. Given the relative modest amounts of money involved, I don't expect enormous problems with that."

VALUABLE RESOURCES

Mail:        [email protected]

LinkedIn: https://www.linkedin.com/in/rob-tyson-3a26a68/

X:              https://twitter.com/MiningRobTyson YouTube: https://www.youtube.com/c/DigDeepTheMiningPodcast 

Web:        http://www.mining-international.org

This episode is sponsored by Hawcroft, leaders in property risk management since 1992. They offer:

Insurance risk surveys recognised as an industry standard

Construction risk reviews

Asset criticality assessments and more



Working across over 600 sites globally, Hawcroft supports mining, processing, smelting, power, refining, ports, and rail operations. For bespoke property risk management services, visit www.hawcroft.com

GUEST SOCIALS 

X > https://x.com/pulsarhelium

LinkedIn > https://www.linkedin.com/company/pulsar-helium-inc

YouTube > https://www.youtube.com/watch?v=EHGkYuAePJw

$PLSR Insights > https://pulsarhelium.com/Community/PLSR-Insights/default.aspx

https://www.pulsarhelium.com/overview/default.aspx

[email protected]

CONTACT METHOD

[email protected]

https://www.linkedin.com/in/rob-tyson-3a26a68/

Podcast Description

Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into people’s experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics. 

This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/