“Decade of the Miner”: Generational Opportunity & Smarter Due Diligence with Expert Jonathan Goodman

In this episode of Mining Stock Education, host Bill Powers interviews Jonathan Goodman, President and CEO of Dundee Corporation, about the transformative 'decade of the miner' and the generational investment opportunity in the mining sector. Goodman argues that after a 15-year downturn caused by investor abandonment and geopolitical shifts, mining is poised for a resurgence due to rising demand for critical minerals, supply chain resilience, and improved permitting environments in North America. He emphasizes that the next 10–30 years will be significantly better for mining professionals and investors alike. Goodman shares his deep operational experience, including building mines in Bulgaria and Serbia, and critiques the overreliance on flawed valuation tools like DCF models, which fail to account for the long-term potential of high-grade ore bodies. He stresses the importance of independent due diligence, understanding geological models, and recognizing that many projects have hidden upside not captured in official reports. Goodman also discusses how Dundee Corporation uses internal analysis, AI, and small strategic investments to de-risk opportunities and create value, while cautioning retail investors about the sector's extreme volatility and the need for discipline and continuous learning. Key takeaways include: (1) The mining sector is entering a generational opportunity driven by geopolitical and economic shifts; (2) DCF models are inadequate for valuing mines—geology and long-term potential matter more; (3) Investors should scrutinize PEA/PFS reports for risk disclosures and recommendations, not just headline numbers; (4) Smaller, early-stage projects with strong geology and experienced teams offer high upside; (5) Dundee’s strategy of independent analysis and small, supportive investments gives it a competitive edge; (6) Retail investors can succeed by focusing on fundamentals, avoiding emotional attachment, and doing their own due diligence; (7) The mining sector offers 10x return potential but also rapid losses—discipline is essential; (8) Companies like Dundee that build operational assets and generate predictable cash flow can overcome traditional market discounts to NAV. Overall, the episode presents a compelling case for thoughtful, long-term engagement with mining stocks.