Terry Lynch

This Copper Discovery Has 4X the Grade of Other Mines | Power Metallic - Lion MRE

• Top takeaway Lynch's core argument is that the market is counting the wrong thing: Lion is a smaller-tonnage but very high-grade deposit, and in his words "you'd rather process a lot less tonnage with a lot more metal. That's where the money is."
• He managed expectations in advance, publishing a post six days before the MRE telling shareholders it "will not tell you whether this is a mine" — "The MRE is not a PEA."
• On the company webinar he owned the tonnage shortfall without dressing it up: "I get the disappointment. I was disappointed," describing the move "from the arm-waving of Terry to the reality of the data."
• He argues Lion is likely the part of the magmatic sulfide system that "traveled" — the mobile leftover liquid enriched in copper and precious metals — and the morning after the release he asked his followers: if Lion is what moved, where is what stayed?
• He says Nisk has been optimized to be "a contributor, not a material contributor" to a future mill, an SGS met study is testing whether blending Nisk and Lion ores lifts Nisk's recoveries, and the PEA has been pushed from fall 2026 to H1 2027.

Power Metallic's maiden Lion resource proved the promised grade — nearly 4% copper equivalent (metals expressed as copper), roughly four times the average copper mine. The sell-off was about tonnage: infill drilling (tighter spacing to prove edges) traded size for confidence, putting 87% of Lion's tons in the indicated category. Lock-cycle flotation tests (a lab dress rehearsal for a mill) recovered 98.5% of copper into one concentrate, making low-grade rock feed rather than waste. Economics stay unanswered: the PEA (a preliminary mine study) slipped to H1 2027, and Nisk's 44% nickel recovery needs metallurgical work before it feeds anything. Three deep holes below Lion hit visible copper near 900 meters, keeping the deposit open at depth, with assays due before the end of September.

Power Metallic Mines – Updated Mineral Resource Estimate, Exploration Update, Working Towards a PEA

• Top takeaway He argues Power Metallic (PNPN) is now an asymmetric investment: the just-published MRE sets a floor while exploration upside at depth and through 5 active rigs remains uncapped.
• He advocates moving quickly from PEA into feasibility because, in his framing, the project pays back in about a year and financing should be straightforward.
• He plans to bring in a strategic investor — drawn from national wealth funds, mining equity funds, trading houses, or majors — within roughly the next six months.
• He pitches the broader value proposition beyond Lion and NISC: a Chilean metals spinout, low-cost Saudi Arabian exploration, and backers including Friedland, McEwen, Sprott, and Rinehart.
• He acknowledges that 43-101 mechanics left high-grade pockets and depth below 610 meters out of the current MRE, describing those additions as relatively straightforward.

Power Metallic's Lion Zone inaugural resource: 4.145 Mt (million tonnes) at 3.86% CuEq (Copper Equivalent — payable metals normalized to copper), 85% indicated. Drilling below the resource shell shows massive sulphide (dense metallic mineral accumulations) continuing past 900 m vertical, hinting at significant expansion potential. Lion Zone metallurgy delivers 98% copper recovery and a 25%+ copper concentrate, supporting fast payback economics for a planned open-pit mine. Muon tomography, ANT (Ambient Noise Tomography) seismic, and SQUID (Superconducting Quantum Interference Device) magnetometer surveys are sharpening drill targeting across the broader property. A Preliminary Economic Assessment (PEA — early-stage study sizing a potential mine's economics) is targeted for Q1 2027, with a feasibility study to follow.

The NASDAQ Just Opened a New Door for Canadian Mining Stocks

• Top takeaway Lynch argues the broader market is in the US, so the ADR listing will definitely magnify Power Metallic's access to capital.
• He chose the ADR route to avoid a share consolidation, saying retail historically does not like consolidations and punishes the stocks that do them.
• He expects the listing to also widen retail ownership, since many US retail investors cannot touch stocks below $5.
• He says the timing is no accident, with America starting to wake up to mining for the first time in 25 years.

Nasdaq's Rule 5215 change lets Canadian juniors reach US investors through ADRs (depositary receipts bundled from existing shares) without reverse splits. First Phosphate and Nicola Mining proved the route: a depository bank bundles shares so receipts clear Nasdaq's $4 minimum bid with no share rollback. Nicola's entire $6 million US book went to one fund, Citadel; Power Metallic lines up next behind a pending mineral resource estimate. Listing is no free pass: issuers need 18 months of capital, visible trading liquidity, and a business case US institutions can underwrite. Nicola Mining's Peter Espig says US money digs into business plans and returns on equity, so a separate US marketing push is essential.

Power Metallic Mines ($PNPN | $PNPNF): Maiden MRE & Exploration Updates

• Top takeaway Guides to a maiden MRE by end of August 2026 with a >$1B NPV at ~$250M to build and a one-year payback, arguing the project should trade toward the top of the $200M-plus developer peer set at 0.36-1.0 PNAV.
• Frames the deposit as ~5% Cu with ~96% recoveries from SGS's prior metallurgical work and calls it 'just the start' of an asymmetric story, noting historic analogs average 5x the current size and the smallest is roughly double.
• Outlines ~100,000m of drilling from mid-2025 through end-2026 and 30,50k meters next year, with muon tomography to vector across the 5.5km gap, deeper drilling at Lion, and a PEA targeted by late October/mid-November.
• Positions mining equities, and copper/PGM miners specifically, as the cheapest and most asymmetric way to play AI/copper demand, and expects a fall NASDAQ uplisting to draw macro US funds into quality names.
• Notes the property has produced serious gold hits (e.g., 1.5m at 35 g/t) and a secondary gold fairway story on top of the polymetallic massive sulfide resource at Lion and Nisk Main.

Power Metallic's maiden MRE for Lion and Nisk slipped to end of August; management argues it implies $1B+ NPV against a ~$200M market cap. Lion's roughly 5% Cu grade is an order of magnitude above the average operating copper mine, framing the project's unusual economics. Management plans to skip PFS and move Lion straight from maiden MRE to feasibility, with a PEA follow-up targeted by mid-November 2026. Muon-based geophysics is being deployed across the 5.5 km gap between Lion and Nisk to vector deeper drilling more cost-effectively.

Power Metallic Mines – Nisk Project High-Tech Exploration, Upcoming MRE, and New JV In Saudi Arabia

• Top takeaway Terry Lynch argues the stock trades around 20 cents on the dollar versus polymetallic peers on metal contained tons, pointing to a $3.8 billion takeout of a peer with 800,000 contained tons as the analogy.
• He says the June 2026 C$28.2 million financing was deliberately taken to remove the funding overhang, so the end-of-July MRE and subsequent assays are not hamstrung by another raise.
• He reports the MRE was moved up partly because investors distrust the spectacular intercepts, and an independent NI 43-101 will make the high-grade tonnage irrefutable.
• He describes high-grade mineralization as meaning less equipment and lower capex — moving ~20 million tons rather than ~100 million — which he says drives higher returns.
• On Saudi Arabia, he says the company still owns 100% of Jabal Baudan, has a JV where a Saudi family office puts up 75 cents of every dollar for a 50/50 split in new bidding rounds, and sees drilling there at half the cost of Quebec.

Power Metallic raised C$28.2 million with an Eric Sprott lead order, fully funding its six-rig, 100,000-meter drill program at the Nisk project in Quebec. Winter drilling returned high-grade intercepts such as 10.30m at 4.04% CuEq, with an initial Lion Zone mineral resource estimate due by end of July. CEO Terry Lynch argues the deposit's high grade means lower capex and higher returns, and investors should judge projects on contained metal, not tonnage alone. Unexpected gold hits roughly a kilometer apart in the same ultramafic structure are being followed up, with assays from summer drilling expected in September. A Saudi alliance with Amaar Mining pairs Power Metallic's exploration expertise with local capital, where drilling costs roughly half of Quebec's.

The Highest-Grade Copper-PGM Discovery in the World? | Terry Lynch - Power Metallic

Power Metallic Mines is advancing a high-grade copper-PGM discovery, moving up its maiden mineral resource estimate to July with a PEA planned for later this year. The company plans to execute roughly 40,000 metres of additional drilling, utilizing advanced muon technology to better target dense sulphide zones. CEO Terry Lynch outlines the company's expected path toward a NASDAQ listing in Q3 to improve liquidity and access a broader investor base.

Power Metallic Mines – Exploration Update - Expanding Lion Zone & Nisk Regional Targets, MRE In July

Power Metallic Mines continues to expand the high-grade Lion Zone with exceptional drill results, including 22.00m @ 11.46% CuEq, demonstrating robust near-surface polymetallic mineralization. A fully funded six-rig, 100,000-meter drill program is underway, utilizing advanced technology like Muon tomography and borehole EM to test regional targets across a 5km corridor. Investors can anticipate a steady news flow with a Mineral Resource Estimate (MRE) update targeted for July, followed by initial project economics in a PEA by year-end.

Terry Lynch of Power Metallic Mines Inc. talks to Jay Taylor | Metals Investor Forum | February 2026

Power Metallic Mines CEO Terry Lynch presents the company's flagship Nisk Project, highlighting high-grade nickel, copper, and PGE discoveries in Quebec's James Bay region. The Nisk Project is strategically positioned to supply critical metals essential for global electrification and the ongoing energy transition. The Metals Investor Forum provides investors direct access to vetted junior mining companies with proven management teams and strong financials.

Terry Lynch of Power Metallic Mines presents at Metals Investor Forum in Toronto | February 2026

Terry Lynch, CEO of Power Metallic Mines, presents at the Metals Investor Forum in Toronto on February 27-28, 2026. The forum features highly vetted junior mining companies selected for excellent management, strong financials, and promising properties. Investors gain direct access to management teams, allowing them to ask critical questions and assess leadership quality firsthand.