Terry Lynch has been around resource markets long enough to know the difference between a rally and a reset — and right now, he thinks something bigger is building.
Lynch, CEO of Power Metallic Mines (TSXV: PNPN), joined us at the Red Cloud Pre-PDAC 2026 Mining Showcase in Toronto for a wide-ranging conversation that moves between macro and company-specific detail. His read on the market: the resource space is still early in a much larger cycle, and the conditions being put in place today could drive a sustained move across the sector.
But Lynch is also candid about structural problems closer to home. Canada’s junior mining market, he argues, is broken in ways that have dampened participation even as commodity prices improve — and he maps out what a fix could mean if it ever arrives while the macro tailwinds are still blowing.
On the company side, the update is substantive. Power Metallic’s Quebec polymetallic discovery continues to take shape, with recent metallurgy results adding confidence to the project. The team is moving to pull forward a PEA, drilling remains active, and an expanded land package is beginning to define the next phase of exploration. Lynch also touches on the Chilean Metals spinout and what it contributes to the broader pipeline.
In this conversation, he covers all of it — the cycle thesis, the structural critique, and the operational progress that has Power Metallic building toward a significant near-term milestone.
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