Wealthion · Thursday, August 13, 2026
Steven Enders observes that mergers and acquisitions (M&A) are often an early indicator of a maturing cycle in the mining industry. He notes that while M&A activity has occurred, it doesn't preclude more, and that the industry experiences significant volatility and the emergence of speculative projects in later stages.
“I think we've seen it already. When I look at the cycle, it seems like one of the first things that happens is MNA. It's kind of moved off that a little bit. I wonder if that's an indication of where we are in the cycle. I don't know.”
“But I do know that when the cycle is more mature, you get the crazies out there that want to bring an asteroid to the US is full of platinum or they want to go do something crazy on the ocean floor.”
“I know we're in a maturing cycle. And the MNA has, doesn't mean there won't be more.”