Money of Mine

Matt Griffin is back. Two years on from his last chat with us, the Maple-Brown Abbott small caps PM returns to unpack a macro-dominated FY26 that saw 75% of active managers underperform the index. It's a full tour of the small cap resources landscape, from gold to uranium, aluminium and the mining services boom. In this ep, Matt covers: Why gold swelled to 18% of the small cap index, and why the c...

We're back to where it all began. The Battle for Leonora.   Undoubtedly, our favourite M&A saga, taking us back to where it all began. It’s as if things have come full circle with the announcement that Genesis will interrupt the Regis-Vault merger, making its own long-anticipated play to acquire Vault (in a “merger”).  In this ep, we discuss:  Is this Luke Tonkin's finest act  Why didn...

Exploration geologist Mark Bennett joins us for a conversation on his journey finding world-class ore bodies, from his start at Western Mining, through discoveries at Thunderbox and onto the staggering story of the Nova-Bollinger discovery. Mark shares stories from WMC, getting a taste for success at LionOre, the disaster at Apex that taught him how boards really work, and his deal with Mark Creas...

Ken Brinsden joins us today to trace a remarkable career across the mining industry, from underground gold and Victorian mineral sands to building Atlas Iron and turning Pilbara Minerals into a lithium powerhouse. Ken shares his journey from the highest highs and down to the troughs, only to rise back up. From the debt & commodity cycle that stumped Atlas, to the brutal 2020 lithium downturn a...

Tony Manini joins us for a wide-ranging conversation on a career built around discovery, from leading the team that found Sepon in Laos to the wild ride of Oxiana/OZ Minerals and the founding of EMR Capital. Tony lays out his core belief that exploration and investing are fundamentally the same venture capital game — all about managing probabilities, sizing the prize, and having the discipline to...

We're joined by Mike Alkin of Sachem Cove to break down where we are in the uranium cycle, why his supply-driven thesis evolved, and what he thinks of the SMR and data centre hype. He digs into the broken price reporting that distorts the market, Kazakhstan's value-over-volume shift, the East-West bifurcation of supply, and how to think about a world-class asset like NexGen's Rook I in...

Oil analyst Rory Johnston joins to unpack a wild three months in the oil market, as an Iran deal is on the cusp of being signed and Brent bounces around. Rory walks through what actually moved the market, why prices underreacted to a major supply shock, and what it all means looking forward. • China’s import collapse: the biggest surprise of the crisis • How jawboning and volatility crushed bullis...

Sam Berridge from Perennial is back after a wild first half of 2026. We run through just about every commodity under the sun. Gold's sold off, but the fundamentals haven't changed. What next? We also get into why the structural deficits he chases tend to survive the chaos, as well as the latest on the aluminium setup. In this one we cover: Gold's sell-off and the long-term thesis The I...

Chase Taylor and Zach Abraham from Bulwark Capital join the show to unpack a world turned upside down. The pair walk through why oil could be mispriced by $30 or more, how cheap drones and missiles have rewritten the global security picture, and why the debasement trade is only taking a breather. We also dig into the quiet detente between the US and China, the "electric stack" thesis spa...

We've wanted to have this conversation for 3 years. Our guest today is James Davolos of Horizon Kinetics, the New York-based deep value firm managing over US$11.5B across a range of contrarian strategies, where James runs the ~$1.6B Inflation Beneficiaries mandate. The core reason for wanting to speak with James is that he's responsible for fundamentally changing how we view the hard asset...

Michel Mamet started his fund on 3 key pillars. Gold, energy, and resources. His strategy has returned ~90% since inception 18 months ago. In this conversation, Michel walks through the three foundations of the fund, why he built it to invest globally from day one, and why he sees Australia as an increasingly difficult place to deploy capital. We get into the mechanics of the recent gold sell-off,...

Paul Flynn has spent 13 years building Whitehaven Coal into one of Australia's most consequential resources companies. He's joined us to share the story. From a deal many considered one of the best in recent mining history, to the structural shift in coal's floor price, to why India is quietly becoming the world's most important met coal growth market, we're excited to share ou...

To understand the commodity moves, you need to understand the macro. Chris Judd joins us to dive deep into the big picture. Founder & portfolio manager at Cerutty Macro Fund, Chris' perspective and model for navigating the world helps us break down many of the big themes in markets today. Chris covers: Why the Strait dynamics may reflect US strategic intent - and what naval choke points me...

The Federal Budget has dropped a bombshell on the mining and exploration sector. Proposed CGT changes could leave a generational mark on the industry, the economy, and everyday Australians. We sat down with the people best placed to explain it. Warren Pearce & Neil van Drunen from AMEC (Association of Mining and Exploration Companies) represent 500+ exploration and mining companies across Aust...

Emanuel Datt (founder & CIO of Datt Capital) has been selling. He's now at 30%+ in cash. The Datt Absolute Return Fund has compounded at over 17% pa for near a decade. The Strait of Hormuz shutdown marked a hard reset of the portfolio. We've got lots to discuss. In this conversation, Manny covers: Why the Iran War triggered a full portfolio reset His decisive rotation into refiners and thermal...

In today's episode, we're joined by value investor Vas Piperoglou. Vas is the co-founder and chief investment officer of Collins St Asset Management. He runs one of Australia’s most consistently high-performing value investment firms, with a knack for starting special situations funds in markets near and dear to our hearts. Collins St has played 3 resource capital cycle thematics. All thre...

A absolutely favourite guest is back - Hedley Widdup of Lion Selection. Leading one of the industry's sharpest specialist mining investors, we work through the state of the gold stocks, where capital is moving, and what the cycle looks like from the inside. Hedley runs a portfolio of junior miners and explorers built on a foundation as a mine geologist across WMC, Xstrata and Goldfields. He thinks...

Today's episode is with the great Matthew Fist, portfolio manager at Firetrail Investments, where he focuses on Aussie small-cap resources and industrials. Fresh off the Macquarie conference floor, Matt brings his technical expertise, honed in previous roles at Macquarie and BHP, to the table as we chat through a raft of companies and commodities. The topics discussed include: What Aussie funds ar...

Brendan Harris, MD and CEO of Sandfire Resources, joins Money of Mine for a conversation on building a lower-beta copper company in a volatile sector. His philosophy is clear: miners cannot control commodity prices, FX, freight, input costs, grade variability, geopolitics or market sentiment, so they must ruthlessly eliminate the volatility they can control. We discuss why debt can be dangerous in...

This is a different episode for us. Rusty Delroy is back - and this time he’s brought company in the form of Will Barker. Rusty is the founder of Nero Resource Fund, compounding at ~26% per annum since inception in 2013. Will leads Equus Energy, is a director of Strike Energy and Carnarvon Energy, and is a geologist with decades of experience building large-scale gas projects. Two deep thinkers on...

Today we're sharing our conversation with natural resource fund manager David Franklyn, covering as a whole host of the commodities and company's we love chatting about. Dave walks through how the fund navigated one of the wildest quarters on record, and where conviction sits today across a portfolio spanning copper, lithium, uranium, gold, and oil & gas. This episode goes deep into ho...

Moz is back. Nearly a year on from the MinRes spectacular, Moz has joined us again to dive into the opportunities capturing his attention. In keeping with his style, we go deep on special situations where the market is presenting potential value. Our conversation centres around 4 main stocks and themes: MinRes, Stanmore, 29Metals and the energy sector. We explore: Why MinRes is still being priced...

We need inspiration for today's episode - and it came our way. We picked up the phone in an attempt to make sense of everything going on in this market. We called some fund managers to get clarity and ask the questions we can't get off our mind. This episode goes deep into how smart money is positioning in uncertain times. In the episode, we discuss: Why energy prices could stay higher for...

We sat down with Tony Greer, founder of TG Macro and a 35 year Wall Street veteran whose career has seen him on the desk at banks from Sumitomo to UBS and onto Goldman Sachs’ commodities arm, where he operated the firm’s gold and silver books. Tony reads markets through a lens we rarely use on this show: pure price action, sentiment, and sector rotation, with valuation deliberately off the table....

After visiting 7 mines across South Africa and Zambia in 10 days, we unpack the biggest takeaways while waiting to board our flight home. From massive copper and operations to PGM shafts, gold tailings plays, enormous coal mines, the trip challenged some of our long-held assumptions. We discuss why Africa may be mispriced as a mining jurisdiction, the reality of costs, productivity and logistics,...