Frank Giustra · CEO, Fiore Group; mining financier since 1978; board member and former chair of the International Crisis Group; controlling shareholder of Copper Giant and co-founder of Aris Mining.
A company he helped create: Colombia’s second-largest gold miner (Segovia ~11 g/t, 20-year lives), $3 → $30, heading from ~500k to ~1M oz/yr — "Why trade? Just own that." Insider view.
His own company (controlling shareholder with Serafino Iacono, shares locked up): Mocoa, Colombia — 1.1B t near-surface copper-moly near infrastructure, PEA at year-end; Trafigura’s $30M pre-PEA offtake shows buyers are desperate. Endgame is a strategic partner or a sale.
"My next favorite thing": a supply shock (30 years of underinvestment, falling grades, output down even at ~$6.50/lb) meets a demand shock (AI data centers, NATO rearmament, a $5T US grid rebuild), and new mines take many years.
His own holding (insiders ~60%): Hopes Advance, Ungava Bay — 1.4B t M&I, 68% Fe / 2% silica, on tidewater (no railway), 2019 PFS being updated; the bet is a high-grade "green" iron ore premium as mills shift to cleaner furnaces. Issuer promotion.
His favorite asset: a "forever war" with Iran means inflation and currency debasement, the BRICS are building a gold-settled parallel system (he suspects China holds 10,000–20,000t), and US finances are "beyond repair" — own hard assets; gold goes "to the moon eventually."
One of the majors that "have no choice but to buy some juniors" — only four or five top near-surface, high-grade copper deposits sit outside majors’ hands.
In one line: geopolitics has entered long wars and a US–China split, US finances are beyond repair — own gold first and copper second, and in juniors buy size, grade, location and good politics early and large, then hold while the majors come shopping.
Forever wars. Iran has no deal zone (Hormuz, the Saudi pipeline, Houthis at the Red Sea) and NATO–Russia outlasts any Ukraine settlement; Europe's ~$2T rearmament needs metals it doesn't have. (2026-SEP-15)
Gold. War-driven inflation and debasement, a gold-settled BRICS system (mBridge, Shanghai Gold Exchange, Chinese vaults abroad; China may hold 10,000–20,000t), and $40T of US debt no one can grow out of. (2026-SEP-15)
Copper. Supply shock (underinvestment, falling grades, output down at record prices) meets demand shock (AI, defense, a $5T US grid rebuild); majors must buy the few big near-surface deposits left. (insights)
High-grade iron ore. Rates near 5% haven't stopped metals because the cycle is structural (friend-shoring, rearmament, grid); steelmaking's shift to cleaner furnaces raises the share of 65%+ Fe, low-silica ore — his first iron ore bet, Oceanic's tidewater Hopes Advance deposit. (2026-SEP-07)
Disclosure. His examples are his own companies — Copper Giant (Mocoa, Colombia), Aris Mining and Oceanic Iron Ore (insiders ~60%) — so weigh the method over the pitch.
Transcripts
One dated page per appearance — each has its stock table, talking points, and the saved transcript. Newest first.