Jun 7, 2026 · 56 min
Uranium, antimony and the search for ten-bagger stocks
S11 Ep79: The Sunday Roast - The Next 10 Bagger Special #ARK #XTR #AEG #ATN #FMET #EPP #BZT #AFP #AJAX #KEN #DGQ
The episode connects exploration updates, near-term antimony production plans and a host’s high-risk resource-stock thesis.
- 1Arkle outlines Namibia uranium targets, accelerated drilling plans and assay timelines alongside its Stonepark zinc exposure.
- 2Xtract details Amgas licensing, site-based processing and a 2026 target for intermediate antimony concentrate production.
- 3Kevin Hornsby presents a personal list of resource stocks he believes could potentially increase tenfold.
Don't miss
Colin Bird explains how Amgas could move from a newly granted mining license toward intermediate antimony concentrate production in 2026.
The brief
Kevin Hornsby opens a solo-hosted special edition with updates from Arkle Resources and Xtract Resources, framing exploration progress against the risks of speculative resource investing.
Rory Harding describes Arkle’s second-phase uranium program in Namibia, including eastern paleochannel targets, accelerated drilling, assay logistics and the infrastructure supporting exploration.
The Arkle discussion also turns to Stonepark zinc in Ireland, where the company’s minority holding adds portfolio value while complementing its uranium exposure.
Colin Bird outlines Xtract’s Amgas antimony plans after the mining license grant, including relocating processing to site and targeting intermediate concentrate production in 2026.
The episode closes with Hornsby’s personal ten-bagger shortlist, shifting from company updates to the broader question of how investors price resource-stock upside.
What was said on this episode
38 statements · 36 positive · 2 neutral
Arkle’s second-phase exploration program has identified numerous geophysical targets.
“we are fully underway now on that second phase exploration program. So excited by what we found, or our interpretations from the geophysics. We've got lots of targets.”
Listen at 2:14
A mineralized eastern paleochannel could contain 30–50 million pounds of uranium.
“you might have 30 to 50 million pounds, you know, in an area of that size in a, you know, in a paleochannel. In a good scenario.”
Listen at 4:32
Field radiation measurements provide preliminary uranium indications before assays return.
“you kind of know what's, you know, kind of roughly in the samples.”
Listen at 8:24
Arkle plans to complete paleochannel drilling before advancing ULG trenching.
“I think we'd finish the 1,500 meters we're going to drill on the paleochannels, and then we will be trenching that ULG target in the meantime.”
Listen at 9:36
ACT Labs previously returned Arkle assay results in roughly three weeks end-to-end.
“The last time we sent samples there last year, a relatively decent turnaround time. I think it was probably, I think it was probably 3 weeks kind of end to end.”
Listen at 12:33
ULG uranium deposits could support mining at grades of a few hundred ppm.
“In the ULGs, you want to— because you've got a hard rock, you want to hope for a higher grade. And yes, you, you'll get areas that are in the thousands of ppm, but you hope for something like— I guess Bannerman's a good example, right? You know, a couple of kind of couple of hundred ppm in these ULGs is like, you know, you could have a mine”
Listen at 14:18
Namibia has unusually strong infrastructure for uranium development.
“Namibia is quite, quite kind of a special country for uranium. There aren't, there aren't many like it that has that level of infrastructure.”
Listen at 15:01
Group 11 plans 15,000 metres of Stonepark-area drilling, beginning with 2,700 metres.
“they're drilling, uh, 15,000 meters over the next year and a bit there, and they're starting with 2,700 meters, which is underway right now.”
Listen at 18:39
Arkle is currently waiting for Stonepark drilling results before deciding its future holding strategy.
“Right now it's, well, you know, we've got our partner who's drilling, you know, some substantial meters on the property, and we're, you know, let's see what that let's see what, what comes out of that, right?”
Listen at 20:31
Long-term uranium contract prices are more important than spot prices.
“The long-term contract price, I'm always telling people, is like more important than the spot price.”
Listen at 23:27
Arkle could re-rate substantially if its next exploration phase succeeds.
“I think there's lots of, lots of potential to re-rate this thing if we, we have exploration success in the next phase now.”
Listen at 23:54
Amgas will likely proceed directly to open-cut quarrying.
“So it's my opinion, shared obviously by the team, my opinion that we will be able to go straight into quarrying.”
Listen at 27:13
Amgas’s planned 70,000-tonne annual plant is small relative to its antimony resource.
“70,000-tonne-a-year plant we're talking about is peanuts for the amount of antimony we've got.”
Listen at 28:05
Extract’s annual cash generation could plausibly reach the AI estimate of $25–35 million.
“your estimate, I wouldn't argue with your estimate. Neither would I support it because I'm not allowed to.”
Listen at 29:39
Amgas intermediate antimony product is worth approximately $20,000 per tonne.
“our particular product, our saleable product, intermediate. So you can do what you like with it afterwards. Yeah, Kevin, you can do what you like with it, but $20,000 is about the right figure.”
Listen at 31:00
Amgas should produce saleable intermediate antimony concentrate by 2026, possibly earlier.
“Certainly by then we'll be into intermediate saleable concentrate production. Certainly, I'm rather hoping to beat that target.”
Listen at 32:20
Bushranger’s currently subgrade copper could become economically viable later.
“To know what doesn't make the grade today makes it tomorrow.”
Listen at 33:41
Xtract is pursuing a way to monetize Bushranger.
“I'm working hard on, um, on finding the best way forward to monetize that particular asset.”
Listen at 34:16
Kevin believes his ten selected stocks have a good chance of tenfolding.
“I believe that these have a good chance now.”
Listen at 35:33
Silver King should produce 3,000–4,000 tonnes of contained copper annually.
“This should produce 3,000-4,000 tonnes a year of contained copper.”
Listen at 37:19
Xtract could generate $25–30 million in annual free cash flow.
“you've got a $25 to $30 million free cash flow company.”
Listen at 39:56
Kevin predicts Xtract Resources will become a ten-bagger.
“I believe Xtract will.”
Listen at 40:32
Active Energy’s revenues will increase rapidly.
“I just can't see how those revenues aren't going to escalate fast.”
Listen at 41:28
Active Energy could increase tenfold as its market capitalization expands.
“which will mean it's 10-folded or 10-backed.”
Listen at 41:44
Aterian’s trading business may generate roughly £4 million profit within 12–24 months.
“I think in the next 12 to 24 months the trading will probably produce the current market cap, which is £4 million in, in profit.”
Listen at 44:29
Fulcrum Metals is expected to develop substantial processing revenues.
“if you have some, you know, forward vision, then there almost isn't a way where they're not going to have those revenues”
Listen at 45:48
Energy Pathways will become a billion-pound company.
“This is going to be a billion-pound company.”
Listen at 46:36
Byzant Resources will secure project funding.
“I'm telling you now, funding's coming”
Listen at 47:28
Byzant will produce gold and copper concentrate at Hope and Gorob within months.
“within a few months, literally, we're gonna have a gold and copper concentrate coming out the ground at Hope and Gorb.”
Listen at 47:39
Byzant Resources will increase tenfold within one to eighteen months.
“I believe it's going to 10 times over the next, I think, happy to say, year to 18 months.”
Listen at 48:22
African Pioneer could reach a £55 million market capitalization as a copper-gold producer.
“£55 million market cap for a miner that's going to be producing copper and gold”
Listen at 49:04
Ajax Resources is expected to perform well from its current low valuation.
“it's gonna do good.”
Listen at 50:06
Kendrick Resources can reach a share price of 85 pence.
“Can Kendrick be worth 85p? Affirm yes.”
Listen at 50:22
Kendrick’s expanded project could have an NPV of $800 million to $1 billion.
“you could be looking at $800 million to a billion NPV.”
Listen at 50:49
Kendrick Resources is likely to increase tenfold if its expanded project valuation holds.
“If that is the case, then Kendrick is likely to 10x.”
Listen at 51:14
A small quantum-computing breakthrough could be worth hundreds of millions or billions.
“They only need to find something small and it will be worth hundreds of millions, if not billions.”
Listen at 52:23
Delta Gold Technology will increase tenfold from its current level.
“I do believe it's going to 10-bag even from here.”
Listen at 52:34
Upcoming Tau AI and Hawk Copper IPOs have substantial upside potential.
“which I also believe have got huge potential to turn back.”
Listen at 53:54
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
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