

Company Interviews
Crux Investor
An insight into junior mining and opportunities to invest.
Company Interviews, a Crux Investor show, exists to cut through the jargon, bias and bluster.
Matthew Gordon, and guest host Merlin Marr-Johnson hone in on the important factors that indicate a company's strong footing for growth and success.
Company Interviews, a Crux Investor show, exists to cut through the jargon, bias and bluster.
Matthew Gordon, and guest host Merlin Marr-Johnson hone in on the important factors that indicate a company's strong footing for growth and success.
Episodes
Mentioned books

Jun 6, 2025 • 20min
Magna Mining (TSXV:NICU) Delivers Strong First Month Operation with 790,000 lbs CuEq Production
Interview with Jason Jessup, CEO of Magna Mining Inc.Our previous interview: Recording date: 4th June 2025Magna Mining. presents a compelling investment opportunity as one of the few junior mining companies delivering immediate copper production with clear pathways to operational scaling. Following the February 2025 acquisition of the McCreedy West mine in Ontario's Sudbury basin, the company generated positive cash flow of $300,000 in its first operational month while producing 790,000 pounds of copper equivalent—results that exceeded management expectations during what was effectively a three-week transition period.The company's operational success validates its production-focused strategy in a market where most copper juniors remain years away from meaningful revenue generation. CEO Jason Jessup, who previously operated McCreedy West during peak production periods exceeding 2,500 tons daily, brings proven expertise to optimize operations. The company has already implemented operational improvements including expanded shift schedules and contractor-supported development work to increase production capacity and workplace access.Magna Mining's recent $33.5 million financing round, comprising $23.5 million in convertible debentures and $10 million equity secured, provides working capital for operational optimization and growth initiatives. The company plans to invest $5-10 million this year in capital development at McCreedy West, focusing on sustainable expansion rather than short-term cash maximization. This disciplined approach positions the company for long-term value creation while maintaining financial flexibility.The company's competitive advantage extends beyond current production to include four additional fully permitted past-producing mines with combined NI 43-101 resources exceeding 50 million tons of copper, nickel, and PGM mineralization. The adjacent Levack mine offers particular near-term growth potential with recent drilling revealing high-grade copper zones of 24% copper plus PGMs within 200 meters of surface in previously unmined areas. An internal restart study for Levack is expected in Q4 2025, with a new resource estimate anticipated by end of Q3 2025.Magna Mining's bootstrap growth model differentiates it from capital-intensive development projects requiring multi-billion dollar investments and multi-year construction timelines. The company can fund expansion through operating cash flow, minimizing shareholder dilution while maintaining control over development timing. This approach appeals to institutional investors seeking copper exposure without the execution risks associated with large-scale development projects.The Sudbury jurisdiction provides additional competitive advantages including stable regulatory framework, established infrastructure, and access to skilled labor from the region's 180,000-person population with extensive mining experience. Established customer relationships with Vale and Glencore ensure secure off-take arrangements and predictable revenue streams.Strong institutional backing supports the investment thesis, with over 50% institutional ownership including 21% held by Dundee Corp, whose leader Jonathan Goodman serves on Magna Mining's board. Management and board retain approximately 10% ownership, aligning interests with shareholders.As CEO Jessup noted, "No one has what we got like we have a producing mine in the best jurisdiction I would say in North America for copper and nickel mining and four other fully permitted past producing mines." This unique combination of immediate production, scalable growth opportunities, and reduced development risk positions Magna Mining as an attractive copper investment in a supply-constrained market where traditional development projects face increasing capital and execution challenges.With $38 million cash on hand and clear catalysts including quarterly production reports and the upcoming Levack study results, Magna Mining offers investors a de-risked pathway to copper sector exposure with multiple value creation opportunities.View Magna Mining's company profile: https://www.cruxinvestor.com/companies/magna-miningSign up for Crux Investor: https://cruxinvestor.com

Jun 6, 2025 • 22min
OR Royalties (TSX:OR) - Transforming $300M Debt to Net Cash Across Precious Metal Portfolio
Interview with Jason Attew, President & CEO of OR RoyaltiesOur previous interview: https://www.cruxinvestor.com/posts/osisko-gold-royalties-tsxor-new-strategy-pays-off-as-share-take-off-6881Recording date: 4th June 2025OR Royalties presents a compelling precious metals investment opportunity following a remarkable financial transformation under CEO Jason Attew's leadership. The company has eliminated $300 million in debt over 19 months while achieving a net cash position, positioning it to capitalize on elevated gold prices and favorable market conditions.Financial Performance and OutlookThe company generated approximately $160 million in operating cash flow during 2024 and projects 40% growth to $220-230 million in 2025, assuming current commodity price levels. This exceptional cash generation stems from operational efficiency, with only 25 full-time employees managing a 195-asset portfolio. OR Royalties maintains a $5 billion market capitalization and completed $300 million in transactions during 2024, representing 10% of the total $3 billion royalty and streaming market.Strategic PositioningOR Royalties differentiates itself through geographic concentration, with 80% of assets and cash flow positioned in tier-one jurisdictions including Canada, the United States, and Australia. This focus significantly reduces geopolitical risk compared to peers with emerging market exposure. The portfolio composition aligns with current market dynamics, featuring 94% precious metals exposure comprising 67% gold and 25% silver.Portfolio OptionalityThe company's 195-asset portfolio includes only 22 currently producing assets, providing substantial embedded growth potential as higher commodity prices incentivize development of previously sub-economic projects. This optionality represents significant value that may accelerate as regulatory improvements streamline permitting processes, particularly in the United States.Investment StrategyManagement employs disciplined capital allocation, targeting transactions between $50-500 million with assets expected to generate returns within five years. The company uses conservative consensus gold pricing of $2,400 per ounce for deal evaluation rather than spot prices, ensuring sustainable risk-adjusted returns. "We price everything off consensus and consensus long-term gold because that is our primary product right now," Attew explained, emphasizing the company's conservative approach.Key Growth CatalystsRecent developments include a 24.4% equity stake and 5% net smelter return royalty in Cariboo Gold's British Columbia project, expected to commence production in 2027. The Spring Valley asset in Nevada awaits environmental approval within six weeks, potentially generating 6,000-7,000 gold equivalent ounces annually for OR Royalties once operational.Market EnvironmentThe precious metals sector benefits from macroeconomic uncertainty, monetary policy dynamics, and structural demand drivers supporting elevated commodity prices. Regulatory improvements, especially in North America, are reducing development timelines and providing greater project certainty. "Running a royalty company in this market is just fabulous, if you've got producers in the portfolio," Attew noted, highlighting favorable current conditions.Investment ConsiderationsOR Royalties offers investors leveraged exposure to precious metals appreciation without operational mining risks. The company's net cash position, strong cash flow generation, and substantial portfolio optionality position it to capitalize on continued precious metals strength while maintaining financial flexibility for accretive acquisitions. The combination of conservative deal evaluation, geographic risk mitigation, and experienced management creates a compelling investment proposition for precious metals exposure in today's market environment.View OR Royalties' company profile: https://www.cruxinvestor.com/companies/osisko-gold-royaltiesSign up for Crux Investor: https://cruxinvestor.com

Jun 5, 2025 • 23min
Permitted, Backed, and Building: Osisko Development’s (TSXV:ODV) Fast-Track to 200,000 oz Gold
Interview with Sean Roosen, Founder & CEO of Osisko Development Corp.Our previous interview: https://www.cruxinvestor.com/posts/osisko-development-tsxvodv-permitted-cariboo-project-towards-becoming-500000-oz-gold-camp-6379Recording date: 4th June 2025Osisko Development Corporation presents a compelling investment opportunity as one of only two fully permitted gold mines in Canada, positioning the company to capitalize on gold's strategic renaissance while benefiting from exceptional project economics and proven management execution.Project FundamentalsThe Cariboo Gold project in British Columbia represents a rare permitted asset in an increasingly constrained development environment. With construction permits secured in under 5 years compared to the industry average of 14 years, Osisko Development has overcome the primary hurdle facing gold developers. The project targets initial production of 200,000 ounces annually from a 5,000 ton per day operation, requiring $650 million capex versus competitors demanding $6.5 billion.The deposit contains 2 million ounces in reserves at 3.8 grams per ton, significantly exceeding comparable Canadian operations like Alamos' Young Davidson mine at 2.2 g/t and Agnico's Goldex at 1.52 grams. Cariboo's additional resources include 1.6 million ounces measured and indicated plus 1.8 million ounces inferred, spanning a 4.4 kilometer strike within a 50 kilometer mineralized trend under company control.Superior EconomicsProduction economics appear robust with costs targeting $1,157 per ounce, generating substantial margins at current gold prices exceeding $2,400. At these levels, the operation projects annual free cash flow of $457 million, providing significant financial flexibility.Construction activities are underway with 1,200 meters of underground development completed and critical equipment secured. The company has invested $700 million to date with over 700,000 meters of drilling, demonstrating development thoroughness that reduces execution risk.Proven Management Track RecordCEO Sean Roosen brings exceptional credibility through his track record building Canadian Malartic, which became Canada's largest gold mine. After selling that asset for $4.1 billion in 2014, now the mine represents $22 billion of Agnico Eagle's valuation. This value creation extends across the Osisko platform, including Osisko Mining's $2.16 billion sale to Gold Fields.Scaling and M&A PotentialThe project offers significant expansion potential through phased development, potentially reaching 500,000 ounces annually. Management envisions scaling from 5,000 to 15,000 tons per day processing rates, supported by the deposit's exceptional size. As Roosen noted, "You could put all three of those mines [Young Davidson, Goldex, and Landronne] in the footprint of this deposit and still have room for one more Young Davidson."The company operates with a $375 million market capitalization and benefits from strategic shareholder support, with investors holding 24% and 9.9% stakes respectively. Industry consolidation trends favor quality assets like Cariboo Gold, with management noting that "If I look at all the top 10 M&A ideas that come out, ODV is always on the list."Near-Term CatalystsProject financing announcements expected within two months should significantly de-risk the investment while potentially providing share price catalysts. The G Mining precedent, which achieved a $4.3 billion valuation after successful project development, demonstrates potential upside for executed development stories.Osisko Development represents leveraged exposure to gold's strategic importance through a rare permitted asset with superior economics, proven management, and multiple value creation pathways.View Osisko Development's company profile: https://www.cruxinvestor.com/companies/osisko-developmentSign up for Crux Investor: https://cruxinvestor.com

Jun 5, 2025 • 26min
Maple Gold Mines' (TSXV:MGM) Turnaround: 100% Ownership, 46% Leaner, and Agnico at Its Side
Interview with Kiran Patankar – President, CEO & Director, Maple Gold Mines Our previous interview: https://www.cruxinvestor.com/posts/maple-gold-mines-tsxvmgm-drill-results-show-path-to-5moz-resource-7008Recording date: 4 May 2025Maple Gold Mines has emerged as a compelling turnaround story in Quebec's premier Abitibi gold region, demonstrating how operational discipline and strategic partnerships can unlock value in today's elevated gold price environment. Under CEO Kiran Patankar's leadership over the past 18 months, the Canadian exploration and development company has transformed from what he describes as "a stagnant and somewhat bloated company" into an efficient operation positioned for growth.The operational restructuring has been dramatic. General and administrative costs have been slashed by 46%, with the company now operating on just $150,000 monthly cash burn while delivering improved exploration results. Drilling efficiency has improved 25%, reducing costs from $400 to $300 per meter and allowing expanded programs within existing budgets. These improvements have translated into renewed market interest, with daily trading volumes increasing from 150,000 to over 600,000 shares following recent drill results.Central to Maple Gold's value proposition is its strategic partnership with Agnico Eagle, one of Canada's premier gold producers and the company's largest shareholder. This relationship provides technical expertise, potential processing solutions, and validation of project quality. "It's a benefit to Maple and Maple shareholders to have the strong partnership that we have," Patankar noted, emphasizing the alignment of interests.The company owns 100% of 3 million ounces of gold resources across district-scale projects in Quebec's Abitibi region, representing a significant shift from previously owning only 50% of assets. Recent drilling has demonstrated expansion potential, with systematic exploration targeting both near-mine growth and district-scale discoveries.Perhaps most intriguingly, Maple Gold is pursuing a dual strategy of continued exploration alongside development studies for smaller-scale production scenarios of 100,000-150,000 ounces annually. This approach could generate cash flow to self-fund future exploration, breaking the traditional junior mining cycle of continuous dilution.Trading at $8 per ounce with a $40 million market cap despite gold prices above $3,300, Maple Gold appears significantly undervalued compared to historical metrics when the company traded at $150 million with only 50% asset ownership at $1,800 gold prices.Learn more: https://www.cruxinvestor.com/companies/maple-gold-mines-ltdSign up for Crux Investor: https://cruxinvestor.com

Jun 5, 2025 • 15min
Standard Uranium (TSXV:STND) - Dual Model Explorer Eyes High-Grade Discovery at Davidson River
Interview with Jon Bey, CEO of Standard Uranium Ltd.Our previous interview: https://www.cruxinvestor.com/posts/standard-uranium-tsxvstnd-partnering-portfolio-to-fund-discoveries-5885Recording date: 3rd June 2025Standard Uranium (TSXV:STND) is emerging as a compelling investment opportunity in the uranium sector through its innovative dual business model that combines focused exploration with proven project generation capabilities. The Canadian company has demonstrated remarkable momentum, with its share price surging from 5 cents to 14 cents over the past month while successfully doubling its initial capital raise from $500,000 to $1 million.The company's flagship Davidson River project in Saskatchewan's Athabasca Basin remains the primary value driver, with CEO Jon Bey preparing to resume drilling activities in August-September 2025 after a strategic three-year hiatus. This measured approach reflects disciplined capital allocation, as the company used the interim period to enhance targeting precision through advanced geophysical technology partnerships with Australian firm Fleet Space.Standard Uranium's project generation model provides crucial financial stability and risk mitigation. The company earns $5-8 million per partnership deal by developing projects over 18 months, securing permits and First Nations agreements, then partnering with capital providers while retaining operational control. Importantly, if partners fail to complete their three-year earning requirements, Standard Uranium recovers 100% project ownership plus additional exploration data.Recent corporate restructuring through a partnership with Vancouver's Jasper Management and Advisory Corp has strengthened operational capabilities and capital markets access. The company benefits from experienced technical leadership, including lead geologist Sean Hillacre, who brings seven years of NextGen Energy experience and specialized knowledge of the neighboring Arrow deposit.Market dynamics strongly favor Standard Uranium's positioning. The Trump administration's commitment to quadrupling nuclear capacity by 2050, combined with growing technology company demand for nuclear power, creates supportive fundamentals. As Bey noted, "There's North America and then there's everyone else," highlighting the strategic value of domestic uranium assets amid global supply chain concerns.Standard Uranium's focused capital allocation strategy directs all equity raises toward Davidson River exploration while project generation partnerships cover operational expenses, positioning the company for potential discovery success in an increasingly favorable uranium market environment.View Standard Uranium's company profile: https://www.cruxinvestor.com/companies/standard-uraniumSign up for Crux Investor: https://cruxinvestor.com

Jun 5, 2025 • 19min
Power Metallic’s (TSXV:PNPN) Breakthrough Drill Hits May Reinforce NISK’s World-Class Trajectory
Interview with Terry Lynch, CEO of Power Metallic MinesOur previous interview: https://www.cruxinvestor.com/posts/power-metallic-tsxvpnpn-charges-ahead-with-rare-nickel-copper-pgm-mega-discovery-6787Recording date: 4th June 2025Power Metallic Mines presents a compelling investment opportunity at the intersection of exceptional geology and transformative geopolitical dynamics. The company's NISK project in Quebec has delivered extraordinary drill results, including 12.5 meters grading 11% combined nickel-copper-platinum group elements—grades that CEO Terry Lynch described as requiring investors to "pinch yourself" due to their exceptional nature.The discovery's significance extends beyond impressive intercepts to encompass massive scale potential. Lynch estimates current resources could expand from 15-20 million tons to 45 million tons by year-end, with ultimate potential reaching 140 million tons comparable to world-class deposits like Voisey's Bay. This growth trajectory reflects the deposit's orthomagmatic system characteristics, which typically feature multiple high-grade pipes or zones that Lynch compared to fingers extending from a palm-shaped source.Power Metallic has secured strategic positioning through sophisticated capital allocation and timing. The company raised $50 million to fund a comprehensive 100,000-meter drilling program through 2026, eliminating near-term dilution risk while supporting aggressive exploration that Lynch noted would typically only be affordable to major mining companies. The funding demonstrates global investor confidence, sourced equally from Australia (50%), Europe (25%), and America (25%), with minimal Canadian participation reflecting the company's international appeal.Management's strategic approach centers on maintaining auction dynamics for maximum value realization. Lynch emphasized their deliberate avoidance of industry investors, stating "we want to push this as long as possible with the financial players because you want this to be an auction at the end of the day." This strategy preserves optionality between outright sale to majors—Lynch noted "nine times out of ten" such discoveries are sold—and joint venture structures that could retain upside exposure while funding development.The investment thesis gains substantial support from evolving geopolitical dynamics. The Trump administration's "Fortress America" approach to critical minerals has fundamentally altered market dynamics, prioritizing supply chain security over pure price considerations. Lynch has witnessed this transformation firsthand through direct engagement with the U.S. Department of Defense and Department of Energy, observing that "they definitely are going to be less reliant on price and more reliant on guaranteed supply."This policy shift has attracted unprecedented investor interest. Lynch noted, "Ultra high net worth investors looking at investing tens and hundreds of millions of dollars in the space. We were not having these conversations a year ago. The billionaires have realized there's going to be something happening in critical minerals and they want to be part of it."Market fundamentals provide additional support through projected supply deficits. By 2034, nickel is expected to face a deficit of 839,000 tonnes—nearly seven times larger than today's surplus—while the battery metals sector requires approximately $514 billion in investment by 2030, with nickel alone needing $66 billion. Power Metallic's polymetallic nature enhances economic attractiveness through exceptional recovery potential. Lynch referenced comparable operations achieving "high 80s, low 90s" recoveries, supporting projections of one-year payback periods that enable rapid development timelines.The investment case represents a rare convergence of world-class geology in a tier-one jurisdiction, backed by substantial funding and experienced management, positioned to benefit from the transformation of critical minerals markets from commodity-driven to strategy-driven pricing during a generational supply-demand rebalancing.View Power Metallic's company profile: https://www.cruxinvestor.com/companies/power-nickelSign up for Crux Investor: https://cruxinvestor.com

Jun 4, 2025 • 20min
US Gold Corp (NASDAQ:USAU) - Tight Share Structure, Full Permits, and a Fast-Track Gold-Copper Build
The CK Gold Project, located just outside Cheyenne, Wyoming, has now cleared every major regulatory hurdle — including air, water, and environmental approvals — and is ready to move toward development.Luke Norman walks us through how U.S. Gold Corp transformed CK from an exploration-stage “science project” into a shovel-ready mine with a 1.5Moz reserve and a robust economic profile. What makes this story different is not just the asset, but the location. With paved roads, nearby rail, grid power, and a skilled local workforce, this is a low-cost build with very few logistical headaches.We also dig into the asset breakdown: about 70% of the economics come from gold and 30% from copper, based on $2,100/oz gold and $4.10/lb copper assumptions. The projected AISC is just $940/oz, and the initial 10-year mine plan is designed for 100,000 oz/year gold equivalent production. But as Luke points out, the current reserve is drill-constrained — and the mineralization continues well beyond the existing pit shell.One key focus of the conversation is how the company plans to finance development without blowing out the share structure. With only 14 million shares outstanding and $15 million in cash, U.S. Gold Corp is looking to raise the ~$300M capex through non-dilutive options like concentrate offtake agreements, federal/state grants, and Wyoming’s municipal bond program.We also touch on the broader macro backdrop. Both gold and copper have now been designated as critical minerals in the U.S., with copper demand rising rapidly due to electrification, AI infrastructure, and energy transition. CK Gold is well positioned to meet that demand from a domestic source, with low environmental risk and strong local support.What stood out in this discussion is the company’s execution discipline and capital alignment. Luke and CEO George Bee (former builder of Barrick’s Goldstrike mine) aren’t chasing flashy exploration headlines. They’re focused on building a mine — on budget, on time, and with real revenue in sight.We also talk about community support, local benefits (like royalty payments to Wyoming schools), and the unique permitting advantages that come with being located on state ground. CK Gold isn’t just a mine — it’s a strategic U.S. asset, with real economic and social upside.If you’re looking for a near-term U.S. gold-copper story that’s fully permitted, tightly structured, and run by experienced mine builders — this is a conversation worth your time.US Gold's company profile: https://www.cruxinvestor.com/companies/us-gold-corp

Jun 4, 2025 • 45min
Cerro de Pasco Resources (TSXV:CDPR) - Legacy Silver Waste Becomes $1-2/Ton Mining Play
Interview with Guy Goulet, CEO & Steven Zadka, Executive Chairman, Cerro de Pasco Resources Our previous interview: https://www.cruxinvestor.com/posts/cerro-de-pasco-csecdpr-advancing-the-worlds-largest-above-ground-mineral-resource-6795Recording date: 30 May 2025Cerro de Pasco Resources has positioned itself at the forefront of a revolutionary approach to mineral extraction, targeting what CEO Guy Goulet describes as "the largest above ground mineral resource on the planet." The company owns mineral rights to 75 million tons of tailings and stockpiles from a historic mine originally financed by JP Morgan in 1906, representing a unique opportunity to extract value from previously processed material using modern technology.The economic advantages are compelling. While traditional mining operations face costs of $50-250 per ton for underground extraction and $3-20 per ton for open pit operations, Cerro de Pasco can process tailings at just $1-2 per ton. This dramatic cost reduction, combined with grades averaging 4.3 ounces per ton silver equivalent, creates superior margin potential with minimal operational risk.Recent drilling results have exceeded expectations, revealing substantial gallium deposits averaging 53 grams per ton across 40 holes, with the latest southern holes showing 86 grams per ton. This discovery gains strategic significance amid Chinese export restrictions on gallium, a critical mineral essential for semiconductor manufacturing and defense applications.The project addresses significant environmental challenges affecting 67,000 local residents. The tailings currently produce acid water and pose health risks, making reprocessing the only viable path to environmental remediation. This creates strong community support and regulatory advantages rarely seen in traditional mining operations.Beyond base and precious metals extraction, the company has identified substantial value creation opportunities through pyrite processing, with potential NPVs of $8-9 billion from producing sulfuric acid, direct reduced iron, and green hydrogen. These initiatives align with global decarbonization trends and Peru's critical need for fertilizer production following the cessation of Russian imports.With Eric Sprott holding 22% ownership and sufficient capital to complete feasibility studies by mid-2026, Cerro de Pasco represents a de-risked entry into polymetallic extraction with multiple value creation pathways and strong ESG credentials.Learn more: https://www.cruxinvestor.com/companies/cerro-de-pasco-resourcesSign up for Crux Investor: https://cruxinvestor.com

Jun 4, 2025 • 24min
Inside Exploits Discovery’s (CSE:NFLD) New Growth Strategy - $4M Cash, 680K oz Gold, 3 Provinces
After years of grassroots exploration in Newfoundland, Exploits is shifting its focus to resource-backed growth with the acquisition of four gold projects across Ontario, Quebec, and Newfoundland, totaling approximately 680,000 ounces of gold.Jessop explains why the company is prioritizing ounces in the ground at a time when gold prices are rising and investor appetite is returning to hard assets. With new option agreements in hand and a $4 million treasury, Exploits has moved quickly to assemble a portfolio of advanced-stage assets with immediate exploration upside. “We’re providing immediate exposure to our shareholders for gold moving even higher,” Jessop says, outlining the rationale behind this strategic pivot.The company’s Ontario flagship is the Hawkins Project, located in a Hemlo-style geological setting with a current inferred resource of 328,000 oz at 1.65 g/t Au, most of it within 200 meters of surface. Jessop describes the project as “tremendously underexplored at depth,” drawing comparisons to how Hemlo transformed from a modest deposit into a 20Moz district through deeper drilling. With $2.4M in assessment credits and $10M in prior exploration, Hawkins offers a low-cost path to potential resource expansion.In Quebec, Exploits acquired three properties—Benoist, Wilson, and Fenton—from Cartier Resources. Benoist brings a historical resource of ~240,000 oz, while Wilson and Fenton offer high-grade drill hits, visual gold, and near-term discovery potential. Located near major mining infrastructure in the Abitibi Greenstone Belt, these assets provide regional diversification and optionality in one of the world’s most prolific gold camps.Jessop emphasizes the company’s disciplined capital strategy. Instead of diluting shareholders to chase speculative discoveries, Exploits will use a “rate-and-rank” system to prioritize drilling targets based on cost-efficiency and potential return. The first steps include securing permits, refining targets, and focusing early drilling on shallow zones that can quickly add value.The interview also covers Exploits’ relationship with New Found Gold, whose 2Moz Queensway Project borders Exploits’ Newfoundland claims. While not currently the focus of immediate spending, Jessop highlights the upside potential of these assets should regional consolidation occur. “New Found has always been our big brother in the area,” he says, hinting at long-term collaboration possibilities.If you’re following emerging gold developers, this interview offers insight into how a small-cap explorer is adapting to current market conditions, de-risking its asset base, and positioning for potential rerating as new ounces are added.

Jun 4, 2025 • 21min
Cartier Resources (TSXV:ECR) - Quebec Gold Explorer Starts Massive 18-Month Drilling Campaign
Interview with Philippe Cloutier, President & CEO of Cartier Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/cartier-resources-tsxvecr-unlocking-15km-gold-corridor-in-quebec-4682Recording date: 3rd June 2025Cartier Resources (TSXV:ECR) has emerged as a compelling Quebec gold exploration opportunity following a strategic transformation that has positioned the company for what management believes could be a breakthrough 18-month period. Led by President and CEO Philippe Cloutier, the junior explorer has evolved from a multi-asset company into a focused, well-funded operation with a singular mission: proving the existence of a new gold mining camp.The company's flagship Cadillac project spans a 20-kilometer stretch along the highly prospective Cadillac fault, a geological structure that has historically produced over 100 million ounces of gold. Located just 30 minutes from Val-d'Or, the project places Cartier among established operations from major producers including Agnico Eagle and Eldorado, providing validation of the district's geological potential.Perhaps most significantly, Cartier has secured Agnico Eagle as a 27% shareholder, creating a strategic partnership that provides technical expertise while maintaining operational independence. "They have three mills to feed," Cloutier noted, highlighting natural synergies that could emerge from successful exploration. The partnership offers Cartier access to world-class guidance while providing Agnico Eagle exposure to potential discoveries in their operating district.The centerpiece of Cartier's strategy is an ambitious 100,000-meter diamond drilling program launching in August 2025. This 18-month campaign represents almost as much drilling as the company completed over the past decade, utilizing artificial intelligence-generated targets alongside traditional exploration methods. The program aims to expand the company's existing 2.3 million ounce resource estimate while establishing the "center of gravity" of the gold camp.With $12 million in funding providing full coverage for the drilling program, Cartier enters this critical phase well-positioned to execute its comprehensive exploration strategy. The company exemplifies the current disconnect between junior exploration fundamentals and market valuations, potentially creating opportunities for investors willing to participate in systematic camp-scale discovery efforts in one of Canada's premier mining jurisdictions.View Cartier Resources' company profile: https://www.cruxinvestor.com/companies/cartier-resources-incSign up for Crux Investor: https://cruxinvestor.com


