Why Silver’s Move Is ‘Scary’ to Some Miners | Frank Basa

FULL DISCLOSURE: Nord Precious Metals is a sponsor of theDeepDive.ca.

The Cobalt camp has produced some of the richest silver ever pulled from Canadian ground — and Nord Precious Metals (TSXV: NTH) is betting that the best of it hasn’t been found yet.

Frank Basa, Chairman and CEO of Nord Precious Metals, joined us at the Red Cloud Pre-PDAC 2026 Mining Showcase in Toronto to discuss what the company is building in one of Canada’s most storied silver districts. The grades here are among the highest being explored anywhere in the country, and Nord’s current work is focused on understanding just how large the system could be — starting with a reassay program on past drilling and a wider vein modelling approach that could meaningfully expand the resource.

Beyond exploration, the company is eyeing a faster path to revenue. Ontario’s new recovery permit framework has opened the door to near-term silver production from historic tailings, a potential early cash flow opportunity that sets Nord apart from pure-play exploration plays in the region.

Basa also weighs in on the silver market itself — and notes that even operators with decades of experience have been caught off guard by how quickly prices have moved.

In this conversation, he covers the grade profile, the reassay and resource expansion strategy, the tailings opportunity, and what the current silver environment means for a company at Nord’s stage.

FULL DISCLOSURE: Nord Precious Metals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Nord Precious Metals. The author has been compensated to cover Nord Precious Metals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.