Recorded on August 25 2026, at NRS Studios
Jan Willhöft, Partner at AXINO Capital GmbH, joins Steve Yang of Natural Resource Stocks to discuss how AXINO approaches junior-mining investing across gold, silver, copper, uranium, and critical resources. Jan explains why he believes late-stage exploration and early-development companies may offer opportunity after larger producers captured much of the first wave of investor attention. He also lays out a contrarian framework built around buying sectors when sentiment is weak, including his views on silver, lithium and overlooked Mexican mining assets. The conversation examines how European industrial demand could drive more direct investment, equity participation and offtake agreements with mining projects. Jan also explains why management track record, permitting experience and meaningful personal capital invested by executives matter when evaluating a junior miner. Steve and Jan close by discussing valuation disconnects, commodity cycles and how investors can think about positioning before mainstream capital returns. #Millettian
Key topics
• AXINO Capital and junior-mining investing
• Gold, silver, copper and uranium
• Triple-digit silver thesis
• Late-stage exploration and early development
• European industrial demand for metals
• Offtake agreements and strategic investment
• Mexico and overlooked mining jurisdictions
• Contrarian lithium positioning
• Gold, debt, deficits and inflation
• Evaluating mining CEOs and management teams
• Management hard-dollar investment
Jan Willhöft and AXINO Capital
AXINO Capital https://www.axinocapital.de/
AXINO Corporate https://www.axino.com/
AXINO Academy https://axinoacademy.de/
Jan Willhöft LinkedIn https://www.linkedin.com/in/janwillh%C3%B6ft/
Jan Willhöft TikTok https://www.tiktok.com/@janwillhoeft
AXINO Capital LinkedIn https://www.linkedin.com/company/axinocapital/
AXINO Capital YouTube https://www.youtube.com/@axinocapital
AXINO Capital English YouTube https://www.youtube.com/@axinocapital-en
AXINO Capital Instagram https://www.instagram.com/axinocapital/
AXINO Capital X https://x.com/axinocapital
Host Steve Yang Natural Resource Stocks
Website https://www.NaturalResourceStocks.net
YouTube Main https://www.youtube.com/@naturalresourcestocks
YouTube World https://www.youtube.com/@NaturalResoureStocksWorld
YouTube Clips https://www.youtube.com/@NaturalResoureStocksClips
X https://x.com/TheSteveYang
X https://x.com/SteveYangStocks
LinkedIn https://www.linkedin.com/in/thesteveyang/
LinkedIn https://www.linkedin.com/in/steveyangstocks/
NRS LinkedIn https://www.linkedin.com/company/naturalresourcestocks-net/
NRS Facebook https://www.facebook.com/people/Natural-Resource-Stocks/100090526686713/
NRS TikTok https://www.tiktok.com/@natural.resource.stocks
NRS Instagram https://www.instagram.com/naturalresourcestocks/
Chapters
00:00 Buy it when everyone hates it 00:53 Steve introduces Jan Willhöft 01:12 Jan and AXINO Capital 02:26 European versus North American investors 04:45 The global competition for metals 05:24 Industrial capital moving into mining 07:03 Gold silver copper and uranium 07:46 Triple-digit silver and junior miners 08:49 US Canada Mexico and critical minerals 09:56 Mining jurisdictions 11:13 Why Jan is watching Mexico 11:57 Contrarian investing and silver 12:42 What people hate that Jan watches 15:21 Gold debt deficits and inflation 15:56 Why AXINO likes junior miners 18:15 Finding solvable valuation disconnects 19:56 Evaluating mining CEOs 21:31 Does management have its own money invested 22:55 The divorce investment test 23:33 Where to follow Jan and AXINO
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