By Ben McGregor | November 5, 2026
Bill Powers and Brian Leni of Mining Stock Education discussed the current junior mining stocks environment on their latest Junior Mining Insights episode. Powers noted he sold physical silver bought near $15 an ounce for $115 an ounce in January when the metal traded between $112 and $120. Silver has since fallen below $50. The hosts described the move as a more than 50 percent retracement and a reminder of the sector’s cyclical nature. They outlined why the present weakness, combined with approaching tax-loss selling, may create selective opportunities for investors who maintain cash and focus on company-specific catalysts.
Why are junior mining stocks seeing tax-loss selling pressure now?
Leni said the combination of recent gains and year-end positioning has produced selling. “I have my eyes on that tax loss selling season that sometimes we see, you know, December 15th, sometimes a little before, a little after,” Leni stated. In Canada, investors can sell a position, realize a tax loss, and repurchase the same shares after roughly 30 days without losing the tax benefit. Powers and Leni observed that much of the current selling may already be occurring with the intention of buying back later in the year. They cautioned that larger positions cannot be traded this way without affecting the share price, but mid-sized holders may use the window.
How do experienced investors approach selling discipline in mining stocks?
Powers described holding a placement that has a one-year hold and is currently up about 100 percent after having been up 250 percent. He said he is reminding himself not to count unrealized gains as cash. Leni emphasized that being a good seller has been one of the largest improvements in his process over the past four or five years. “You need to do the opposite of what’s happening in the market,” Leni said. “Sell when others are greedy and be greedy when others are sellers. And that’s sort of where we are now.” He added that most retail investors should not hold junior mining companies in perpetuity and that a portion of profits can usefully be directed into real assets such as education, debt reduction, or home improvements.
What company-specific work are the hosts doing in the current market?
Leni reported on a recent site visit to Alita’s project in Peru. He described walking through a 1,500-meter drill hole with the geology team and gaining clarity on the zone-4 focus and the western portion of the system. Infrastructure is nearby, including a hydroelectric dam and paved road. Local reception during the visit was positive. Leni noted that Peru’s recent election has been viewed by the market as more favorable for mining than a left-leaning alternative, but he cautioned that political cycles in South America can reverse and that “right-wing” in the region is not identical to North American definitions. Powers referenced an earlier interview with Ross Beaty in which Beaty stressed aligning exploration, commodity, and political cycles over long timelines. Both hosts distinguished that approach from typical retail constraints, noting that most individual investors lack the capital and time horizon of multi-decade patient capital.
What to watch next
- Mid-to-late December 2026: Traditional tax-loss selling window and any associated volume spikes in junior mining stocks.
- December 9, 2026: FOMC decision and its effect on rate expectations that Leni linked to near-term sentiment.
- Alita drill results focused on zone 4 and the western extension, which Leni said will be meaningful for the system interpretation.
- Further updates on Peru’s permitting timelines, which Powers noted have historically been longer than in some other jurisdictions.
- Any additional site-visit or technical disclosures from companies the hosts have examined.
A dated risk is the further delay or technical disappointment possible at projects where recent capital raises or holds are expiring, as Powers illustrated with his own placement that moves from a 250 percent unrealized gain to a 100 percent gain. Execution and liquidity risks remain elevated while broader market interest is lower than in the first quarter of 2026.
This article is for educational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Past performance is not indicative of future results. Readers should conduct their own research and consult a qualified financial advisor before making any investment decisions. Canadian Mining Report and its authors may hold positions in securities mentioned.
Sources
- Mining Stock Education, “Junior Mining Insights” podcast episode featuring Bill Powers and Brian Leni (transcript dated around early November 2026)
- Direct statements by Bill Powers and Brian Leni as recorded in the episode
- Prior Mining Stock Education interview with Ross Beaty referenced by Powers
