“Under 50% IRR? Don’t Bother” – David Erfle on Developer Economics & Why He’s Buying Explorers Now

David Erfle of Junior Miner Junky joins MSE for his monthly episode. David explains the pullback in gold and silver, what he heard at the Beaver Creek Precious Metals Summit, why he’s moving into discovery-stage explorers, the Roxmore Resource and SSR Mining deal, and whether the TSX Venture chart is signaling a top. Dave also explains the necessary project economics for him to buy a developer right now.

00:00 Intro

00:40 Fed Hawkishness and Metals Pullback

03:43 Beaver Creek Sentiment Check

04:55 Spotting Lifestyle Juniors

05:40 Project Economics IRR Benchmarks

06:28 Shifting to Riskier Explorers

10:03 Tax Loss Season Opportunities

11:38 Junior M&A: Roxmore Resources & SSR Deal

15:07 Pre-news Spikes and Trading Discipline

18:03 Subscriber Questions and TSXV Charts

21:55 Wrap Up and Where to Follow