Research Analyst - Mining, Toronto

3L Capital Inc. is seeking a Research Analyst – Mining to support and expand its mining-focused capital markets platform.

The ideal candidate will be a geologist, mining engineer, geological engineer, or technically trained mining professional with 5–10 years of mining or exploration experience and at least 2 years of mining-focused equity research, investment research, or capital markets research experience.

This role is intended for someone who can independently evaluate mining companies and projects, interpret technical and financial information, develop investment-focused research, and communicate mining sector insights clearly to internal stakeholders, issuers, and investors.

About the Role

The successful candidate will contribute to company analysis, sector commentary, investor materials, and technical due diligence while helping support and expand 3L Capital's mining research capabilities.

The role offers exposure to mining company management teams, institutional investors, exploration and development-stage issuers, mining conferences, site visits, and capital markets activity across precious metals, base metals, and critical minerals.

Key Responsibilities

• Conduct research on mining companies across exploration, development, and production stages

• Analyze technical, operational, and financial information to assess project quality, risks, catalysts, and valuation drivers

• Build and maintain financial and operational models, including NAV, DCF, comparable company analysis, and sensitivity/scenario analysis

• Prepare research notes, company updates, sector commentary, investment summaries, and presentation materials

• Track commodity prices, mining news, financings, M&A activity, permitting updates, exploration results, and sector developments

• Translate technical mining information into clear, investment-focused analysis

• Participate in company meetings, mining conferences, technical due diligence, and site visits, where appropriate

Qualifications

• 5–10 years of mining, exploration, geology, geological engineering, mining engineering, or related technical mining experience

• Minimum 2 years of mining-focused equity research, investment research, capital markets research, or similar analytical experience

• Degree in Geology, Mining Engineering, Geological Engineering, Earth Sciences, Finance, or a related field

• Strong understanding of NI 43-101 technical reports, drill results, resource estimates, PEAs, PFSs, feasibility studies, mine plans, and project economics

• Experience applying mining-specific valuation methodologies and financial modelling techniques

• Strong writing skills, with the ability to produce clear, concise, investment-focused research

• Proficiency in Excel and PowerPoint

• Experience with Bloomberg, Capital IQ, FactSet, Refinitiv, or similar platforms is an asset

• CFA, P.Geo, P.Eng., GIT, EIT, or equivalent designation is an asset

Ideal Candidate

• Geologist or mining engineer who has transitioned into mining equity research or investment analysis

• Strong technical credibility and ability to assess mining assets independently

• Comfortable reviewing drill results, technical reports, resource estimates, and project economics

• Able to build and maintain mining valuation models

• Strong writer who can turn technical and financial information into concise investment analysis

• Commercially minded, detail-oriented, and comfortable working in a fast-paced capital markets environment

Compensation

Salary Range: C$120,000 – C$160,000 base salary, plus discretionary bonus.

Final compensation will be based on experience, technical mining background, research experience, and overall fit with the role.

Location

Hybrid remote in Toronto, ON.

This role is primarily remote; however, candidates should be available to attend the Toronto office occasionally as required.

Employment Type

Full-time

Expected Starting Date: July 15, 2026

Optional Application Material

Candidates may include a writing sample, prior research note, technical summary, or investment memo that demonstrates their ability to analyze mining companies or mining projects.