Mining Stock Daily The View from Howe Street: Navigating the Mining Bull Market After the "Easy Money"
Sep 30, 2025
Justin Hayek, a mining-sector financial advisor at Ventum Financial, shares insights on the current mining bull market. He discusses the shift of capital from easy gains to junior exploration and development companies. With a surge in institutional investments, he analyzes the intelligent and healthy M&A environment. Hayek also highlights potential takeover targets, emphasizing critical minerals. Lastly, he speculates on whether this bull market could mirror the successful cycle of 2002-2007, driven by macroeconomic trends.
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Easy Money Already Made
- Justin says the "easy money" came from clear M&A and world-class deposit plays that were first movers when capital returned.
- He notes capital is now flowing downstream into development and junior exploration, making easy wins rarer.
Use TSXV Financing As A Market Gauge
- Track TSXV financing data because August showed about $811M raised, the strongest since April 2022.
- Use financing and volume metrics to gauge institutional re-entry and relative froth in deal sizes.
Institutional Capital Has Returned
- Justin observes large financings and big institutional packages (e.g., Barrick's Hemlo deal) signal institutional capital is back.
- He says retail is following but current new capital is largely from seasoned industry investors.