In short: Named outright as his hottest copper play. CEO Terry Lynch is "very high conviction", the deposit is polymetallic with copper as the forward metal at an all-time-high price, and the drill results stand out: "when you see 10%, 12%, 14% copper hits — show me another junior that's putting these kind of numbers up." An MRE has been announced and he expects it to be outstanding. The share-structure test passes on a technicality he likes: 250 million shares out, but "they have 17 billionaires in the cap structure… half of these shares are tied up in hands that will never sell this at this price."
Asked outright for his hottest copper play, Feneck names Power Metallic — "by far". It is a Canadian junior run by Terry Lynch, with a polymetallic deposit where copper is the lead metal at a time when copper is at an all-time high.
The geological case is grade. Most copper mines work rock containing well under 1% copper; he cites drill results of 10%, 12% and 14%, and challenges anyone to name another junior producing numbers like that. Its own MRE — the formal resource count — has been announced as coming, and he expects it to be outstanding.
The more interesting argument is about the share register. Roughly 250 million shares outstanding looks like a lot for a company this size, and a big share count is normally a warning that early holders will dump stock into any rally. His check is to ask where those shares actually sit — and here "they have 17 billionaires in the cap structure. It's insane. None of those people are selling on a bad MRE." Roughly half the shares are in hands that will not sell at this price, which turns a red flag into a supportive one.
24:06These are milestones for a company. They're really important to look for. Another one that announced in their news that they're coming out with their MRE, you've probably interviewed before or heard of, Power Metallic Mines, which is Terry Lynch. That one's PNPNF in the States and PNPN in Canada. — Terry, like Mike, is just very high conviction and believes that they're undervalued here because of their copper hits.
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