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

Dundee Corporation CEO Jonathan Goodman argues mining has entered a “generational opportunity” after generalist investors largely abandoned the sector post-2010 and amid growing recognition that North America needs secure domestic supply chains and new mines. Goodman expects Canada and the U.S. to streamline permitting, citing direct government outreach and the view that permitting should not take a decade. Drawing on mine-building experience at Dundee Precious Metals in Bulgaria and Serbia, he explains why discounted cash flow and NI 43-101 stage-gate studies can mislead and can often be no more than marketing documents. He urges investors to focus on recommendations and risk sections of studies and to assess orebody quality first. He shares insights regarding stakeholder biases, Dundee’s approach to independent technical review, preference for mainstream metals, examples of contrarian success, why merchant banks trade at NAV discounts, and Dundee’s strategy to add predictable cash flow, including its Westhaven Gold Corp. deal and cash-heavy valuation discount.

00:00 Intro

00:48 Decade of the Miner

03:20 Permitting Tailwinds

05:15 Building Mines Lessons

06:35 Why DCF Fails

09:00 PEA PFS Reality Check

13:24 Financing with Banks

14:39 Biases Across Mining

17:11 Merchant Bank NAV Discount

19:12 Independent Data Edge

21:48 Ore Body vs Management

24:49 Let Rocks Speak

25:55 AI and Small Fund

27:40 Metals to Focus On

29:06 Contrarian Win Case Study

32:04 Start Small Scale Up

37:09 Advice for Retail Investors

40:31 Westhaven Due Diligence

44:01 Dundee Value Proposition