Podcasts
Deep dives into market trends, company analysis, and expert interviews
Market whiplash: AI, the RBA and gold | Theory of Thing
James Whelan and Heath Moss of HLM Investments unpack a volatile week in global and Australian markets on Theory of Thing, powered by Small Caps. They discuss US midterm market reactions, policy and community headwinds for data-centre projects, the AI trade, Goodman Group and Digital Realty’s interest in a 9.9% NEXTDC stake, and the RBA’s latest rate decision. Heath’s outlook for a possible rate pause is his view, rather than a forecast from the RBA. James also reflects on David Jones before the Small Caps headlines. Company updates include Skylark Minerals, Viridis Mining and Minerals, Cobalt Blue, IODM, SciDev, Rox Resources, Aldoro Resources, Caprice Resources, Impact Minerals and Metal Powder Works. The closing market discussion covers equity charts, bond yields, copper, the US dollar and gold ETFs. Two factual clarifications appear in the video: Viridis’ Solvay offtake describes approximately US$915 million in minimum revenue over 2029–2034, conditional on delivering contracted volumes. Impact Minerals’ proposed Altrica Advanced Materials name remains subject to shareholder approval on 30 November 2026. Recorded 6 November 2026. Market comments, forecasts and development plans reflect the speakers’ views and information available at recording time. For more interviews and market news, visit https://smallcaps.com.au. General information only; not personal financial advice. This discussion does not take your objectives, financial situation or needs into account. Chapters 0
Future Metals: Keith Bowes on Panton’s two development pathways
James Whelan speaks with Keith Bowes, Managing Director and CEO of Future Metals (ASX: FME), about the Panton PGM project in Western Australia’s East Kimberley and the company’s assessment of two development pathways. Bowes explains how Panton’s updated net smelter return resource model informs study work and planned infill drilling. He discusses a standalone development at Panton, the potential use of the Savannah processing facility, ongoing discussions with owner Zeta Resources, and copper exploration at the Alice Downs Corridor and Eileen Bore. Panton’s July 2026 Mineral Resource is 82.3 million tonnes, with 40.0Mt Indicated and 42.3Mt Inferred. Mineral Resources are not Ore Reserves and do not have demonstrated economic viability. Any Savannah acquisition or use remains subject to technical studies and definitive agreements; potential cost and timing benefits are not assured. Eileen Bore’s Exploration Target is conceptual, not a Mineral Resource. At the time of recording, management expected scoping study results by the end of November 2026 and was planning Panton infill drilling for around March or April 2027, subject to weather and the wet season. These plans and timings remain conditional. Recorded 6 November 2026. For more interviews, visit https://smallcaps.com.au. This content is for information only and is not financial advice. Chapters 0
Antimony Resources starts Tecomatlán concentrate campaign
James Whelan speaks with Tim Young, Non-Executive Director of Antimony Resources (ASX: ANT), about the proof-of-concept concentrate campaign at Tecomatlán, ore supply and exploration in Mexico and Nevada. Recorded 5 November 2026. Concentrate specifications, marketability and a first commercial sale remain unconfirmed. The 150-tonne-per-day figure is a future scale target. The Chinantla framework has no minimum supply or purchase commitments; Vinatas and Coyul MOUs are non-binding. Laboratory recovery and concentrate grades are not plant results, and operator supply indications are unverified. Strategic Minerals Inc.’s DIBC membership does not guarantee funding, contracts or offtake. Los Lirios’ Exploration Target is conceptual, not a Mineral Resource; further exploration may not establish one. A maiden resource in H1 2027 is management’s expectation. Nevada results are exploration indicators, not resources. Chapters 0
Lake Resources (ASX: LKE): Argentina’s lithium opportunity
James Whelan speaks with David Dickson, Managing Director and CEO of Lake Resources (ASX: LKE), and His Excellency Máximo Gowland, Argentina’s Ambassador to Australia, at IMARC in Sydney. They discuss how Australian mining expertise could support Argentina’s lithium and copper sectors, the RIGI investment framework and the development of Lake’s Kachi lithium brine project in Catamarca. Dickson explains Kachi’s environmental approval and the next steps, including offtake agreements, financing and further development work. Lake’s RIGI application remains pending. The conversation also covers direct lithium extraction (DLE), supply chains and management’s development ambitions. Recorded 29 October 2026. Development plans, production timing and market views discussed in this interview are forward-looking and conditional. Environmental outcomes depend on the specific project and process. For more interviews, visit smallcaps.com.au. This content is for information only and is not financial advice. Topics discussed • Australia–Argentina mining cooperation • RIGI and Lake’s pending application • Kachi’s environmental approval and next steps • Direct lithium extraction and supply chains • Management’s development ambitions Chapters 0
BCAL Diagnostics (ASX: BDX): Jayne Shaw on early cancer detection
James Whelan speaks with Jayne Shaw, Non-Executive Chair of BCAL Diagnostics (ASX: BDX), about the company’s move from research and development to commercialising blood-based cancer tests. Shaw discusses BREASTESTplus alongside mammography, GP referral infrastructure, clinician education and BCAL’s licensed Avantect tests. She also explains the team’s focus on test sales and commercial execution under CEO Anne-Louise (Annie) Arnett. Management’s plans discussed in this interview include a November 2026 BREASTESTplus update, US validation work with Sonic Healthcare and an MSAC reimbursement application for pancreatic testing. Planned development, validation and reimbursement steps remain conditional. Recorded 26 October 2026. Diagnostic tests require clinical interpretation and follow-up and do not replace established screening or medical advice. For more interviews, visit smallcaps.com.au. This content is for information only and is not financial or medical advice. Chapters 0
Theory of Thing: Southern Bluefin tuna catch limit rises
Australian statutory fishing rights give their owners access to a capped quantity of fish from a particular species and area. Anthony Ciconte of Atlantis Fisheries Consulting Group explains how the rights work and how catch limits are set, with the higher global catch limit for Southern Bluefin tuna as the starting point. Key Highlights A statutory fishing right allows its owner to take a set quantity of a species from a particular area each year, subject to catch limits. The rights are described as lasting in perpetuity, while the amount that can be caught is managed and capped. Fishing rights can be left unharvested, with no obligation to catch fish each year. Scientific methods are used to assess fish stocks and inform annual catch limits. The global catch limit for Southern Bluefin tuna had increased the previous week. About Theory of Thing Theory of Thing is an investment podcast powered by SmallCaps. Disclaimer This podcast is for educational and entertainment purposes only and should not be considered financial advice. All investments carry risk, including the potential loss of principal. Listeners should conduct their own research and consider seeking professional financial advice before making investment decisions. #SmallCaps #ASXInvesting # #AustralianStocks #Investing #Podcast
Ceryvyn sets safety gates for inhaled CYV-101 in LAM
James Whelan speaks with Dr Jeremy Levin, Executive Chair of Ceryvyn Therapeutics (ASX: CYV), about investigational CYV-101 and the company’s LAM development program. Topics include the proposed VEGF-C/D mechanism, nebulised delivery, further inhaled safety work, scientific and patient input, and disciplined investment against development stage gates. Levin describes a potential Australian study of fewer than 20 patients, conditional on successful safety work and progression through stage gate one. Xenon MRI is one measurement approach under consideration. CYV-101 remains investigational. Prior ophthalmology exposure does not establish the safety or effectiveness of an inhaled treatment for LAM. Ceryvyn was formerly known as Opthea. More interviews: smallcaps.com.au. Information only; not financial advice. #SmallCaps #ASX #CYV #Ceryvyn #LAM
The nuclear comeback: uranium market overview with James Whelan
James Whelan opens Small Caps’ “Glow Up” uranium webinar with an overview of nuclear power demand, reactor construction, data-centre electricity requirements and the long lead times involved in bringing new uranium supply to market. He introduces Alex Cheeseman of Greenvale Energy, Murray Hill of Elevate Uranium and Peter Moorhouse of Basin Energy, before outlining the demand scenarios and supply considerations that frame their presentations. This segment contains the webinar introduction and market overview; the company presentations are separate recordings. Recorded on 16 October 2026. Company statements and proposed work programmes reflect the presentation at that time. General information only, not financial advice. Do your own research and seek independent professional advice.
Basin Energy (ASX: BSN): uranium optionality across Sweden, Queensland and Canada
Basin Energy managing director Peter Moorhouse outlines the company’s uranium exposure in Sweden, Queensland and Canada, alongside its near-term focus on the Newmans rare earth discovery. The presentation covers Nordic exploration targets, the Sybella-Barkly portfolio near Mount Isa and the geological rationale for further uranium exploration. Moorhouse also discusses the Marshall sale, retained exposure through Green Canada and the Geikie project in the Athabasca Basin. In the Q&A, he explains the reasoning behind retaining transaction optionality and balancing near-term rare earth work with longer-term uranium opportunities. Exploration interpretations and proposed programmes remain subject to further work and results. Recorded on 16 October 2026. Company statements and proposed work programmes reflect the presentation at that time. General information only, not financial advice. Do your own research and seek independent professional advice.
Elevate Uranium (ASX: EL8): U-pgrade pilot plant, Marenica and Koppies
Elevate Uranium managing director and CEO Murray Hill discusses the company’s U-pgrade processing technology and uranium projects in Namibia and Australia. Hill outlines the reported results from the first four pilot-plant stages and explains the remaining uranium flotation stage. He discusses the potential processing and environmental benefits, while noting that further pilot work and studies are needed to establish performance and costs. The presentation also covers Marenica and Koppies, resource drilling, Australian projects and planned studies. The Q&A addresses potential licensing and partnerships, with Elevate’s own projects remaining the immediate focus. Recorded on 16 October 2026. Company statements and proposed work programmes reflect the presentation at that time. General information only, not financial advice. Do your own research and seek independent professional advice.
Greenvale Energy (ASX: GRV): Thunderball, Pine Creek and the uranium exploration plan
Greenvale Energy managing director Alex Cheeseman outlines the company’s Northern Territory uranium exploration strategy, including the Thunderball project, Douglas River and the proposed acquisition of Pine Creek uranium rights from Patronus Resources. The presentation covers the Hayes Creek fault zone, field work and target generation, permitting and proposed drilling following the wet season. In the Q&A, Cheeseman discusses Queensland uranium policy, the decision to prioritise Northern Territory exploration, capital allocation and the strategic value of a potential new discovery. Exploration success, transaction completion and development outcomes remain uncertain. Recorded on 16 October 2026. Company statements and proposed work programmes reflect the presentation at that time. General information only, not financial advice. Do your own research and seek independent professional advice.
Camplify's next chapter: Justin Hales on margins and MyWay
James Whelan speaks with Camplify founder and CEO Justin Hales about operational efficiency, margins, Club Camplify and MyWay Mutual. They also discuss booking behaviour, the RV sales and rental ecosystem, and the seasonal cash-flow indicators Justin watches. Camplify Holdings (ASX: CHL) reported FY26 adjusted EBITDA of A$0.3 million, compared with a loss of A$10.4 million a year earlier. Its FY26 statutory result was a net loss of A$0.8 million. Future plans and outlook in this interview are management's views, not guarantees. Podcast chapters: 0