Mining 101 · Investor Education
A Beginner’s Guide to Mining Stocks
New to mining stocks? Learn the basics of mining investing — explorers, developers and producers; drill results, resources and reserves; feasibility studies, costs, risks and the key project milestones that move a share price.
16 guides · ~45 min read
The Core Sample —
Jump to a section
01
Start Here
03 GUIDES
01Mining Stocks ExplainedWhat you're actually buying when you own a piece of a mining company.02Explorers, Developers & ProducersThe three stages of a mining company's life cycle — and the risk at each.03How Mining Companies Create ValueWhere the upside comes from as a project moves from ground to gold.
02
Understanding Projects
04 GUIDES
04Open Pit vs. Underground MiningTwo ways to get rock out of the ground, and why the choice drives costs.05How to Read Drill ResultsDecoding intercepts, grades and widths in a company's news release.06Grade, Tonnage & ScaleWhy a little metal over a lot of rock can still add up to a real mine.07Mineral Resources vs. ReservesThe difference between "it's there" and "we can actually mine it."
03
Development & Economics
04 GUIDES
08PEA, PFS & Feasibility StudiesHow a project is de-risked on paper before any dirt actually moves.09Mining Project MilestonesThe catalysts that move a stock from discovery toward production.10Capex, Opex & AISCThe three numbers that decide whether a mine actually makes money.11How Mining Companies Make MoneyTurning ounces and pounds in the ground into real cash flow.
04
Risk & Valuation
05 GUIDES
12Jurisdiction RiskWhy the same deposit can be worth far more in one country than another.13Permitting & Social LicenceThe approvals and community goodwill a project needs to get built.14Share Structure & DilutionHow financing can quietly shrink your slice of the company.15Red Flags in Mining Press ReleasesSpotting hype, cherry-picked numbers and spin before you buy.16How to Compare Mining StocksA framework that brings it all together to put two companies side by side.
New to the sector?
Start with the fundamentals and work down the column. By the end you’ll read a mining news release the way an analyst does.
Begin Mining 101 ↑