TSXV: MGMA | OTCQB: MAGMF | FSE: BC21
Recorded on February 12, 2026 in Atlanta, GA, USA
In this special in-person sit-down in Atlanta, Andy Millette speaks with J. Stephen Barley, Chairman and CEO of Magma Silver, following the company’s investor lunch at The Palm in Buckhead. They walk through why Magma can trade at a discount even with a well-advanced silver-gold project and a deep historical dataset behind it. Barley details the company’s funding position, capital structure, and why the current shareholder base was selected to support execution instead of short-term churn. The conversation then moves into Niñobamba in Peru, including how Magma is using legacy Newmont work to guide modern targeting and drill orientation. Finally, they outline what could drive news flow through 2026, from surface work to drilling and assays. #Millettian
Key topics covered:
Gold and silver market context and what matters for a junior explorer
Funding status, share structure, and investor base construction
Niñobamba Peru project overview and why cost structure matters
Newmont historical dataset and how Magma plans to drill differently
Scale targets, nearby major neighbors, and comparable project logic
2026 catalysts, drilling cadence, and timing realities on assays
Where to follow Magma Silver and upcoming Atlanta events
Guest and company links:
Magma Silver Website: https://magmasilver.com/
Magma Silver Events: https://magmasilver.com/investors/events/
Magma Silver X: https://x.com/magmasilvercorp
Magma Silver LinkedIn: https://www.linkedin.com/company/magma-silver/
Magma Silver Instagram: https://www.instagram.com/magmasilver
Magma Silver YouTube: https://www.youtube.com/@magmasilver
Host and channel links:
Host Andy Millette X: https://x.com/theandymillette
Host Andy Millette LinkedIn: https://www.linkedin.com/in/andymillette/
Natural Resource Stocks Website: https://www.NaturalResourceStocks.net
Natural Resource Stocks YouTube main: https://www.youtube.com/@naturalresourcestocks
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Natural Resource Stocks LinkedIn: https://www.linkedin.com/company/naturalresourcestocks-net/
Natural Resource Stocks Facebook: https://www.facebook.com/people/Natural-Resource-Stocks/100090526686713/
Natural Resource Stocks TikTok: https://www.tiktok.com/@natural.resource.stocks
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Natural Resource Stocks Expo Atlanta May 1-2, 2026:
Chapters:
00:00 Cold open undervaluation catalysts funding
01:41 Intro and disclosure
02:22 Gold and silver tape setup
03:00 Why Magma is mispriced versus peers
04:34 Financing and Eric Sprott participation
06:20 The rocks Niñobamba and low cost case
08:02 Newmont data package and drill orientation
09:47 Target scale discussion and what gets proved by drilling
10:40 Neighbor majors and comparable logic
11:31 Infrastructure and development angle
12:19 Alamo Dorado comparison and team experience
13:29 Drill results timing and lab realities
14:26 Where to learn more verified tickers and links
15:11 Atlanta investor lunch recap and NRS Expo
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