Company Interviews

Interview with Louis-Pierre Gignac, CEO of G Mining Ventures
Our previous interview: https://www.cruxinvestor.com/posts/g-mining-tsxgmin-major-acquisition-builds-tier-1-gold-hub-with-500koz-pa-potential-9868
Recording date: 23rd September 2026
G Mining Ventures Corp. (TSX:GMIN; OTCQX:GMINF) is executing a three-asset growth strategy anchored by cash flow from its Tocantinzinho (TZ) gold mine in Brazil, construction of the Oko West project in Guyana, and renewed exploration at Brazil’s Gurupi project. CEO Louis-Pierre Gignac says TZ’s stronger second half will help fund the company’s next phase of expansion.
TZ produced 68,691 ounces in the first half of 2026, leaving the bulk of annual output to the second half against guidance of 160,000 to 190,000 ounces. Higher grades and improved throughput are expected as mining reaches richer zones, while an expansion of tailings-pumping capacity should support 2027 guidance of 200,000 to 235,000 ounces. Revised 2026 all-in sustaining cost guidance is $1,330 to $1,544 per ounce, reflecting a stronger Brazilian real and higher fuel prices.
Oko West is the company’s principal construction project. By June 30, 44% of capital expenditure had been spent, with $423 million incurred, $628 million committed and first gold targeted in the second half of 2027. Commercial production is planned for January 2028. G Mining reports $1.288 billion of funding sources, including cash, projected TZ free cash flow and an undrawn $350 million revolver, compared with $550 million of remaining Oko capital and $88 million of corporate and exploration spending.
Following its acquisition of G2 Goldfields, G Mining aims to combine Oko West with the Ghanie and Oko Main deposits. The proposed expansion would add roughly 2 million tonnes of processing capacity and target annual production of about 500,000 ounces. An updated feasibility study, supported by 55,000 metres of infill drilling, is expected in mid-2027; historical G2 resource estimates still require upgrading.
At Gurupi, drilling has resumed after a long hiatus. An updated resource estimate and preliminary economic assessment are due before year-end, with management envisioning a mine producing roughly 200,000 ounces annually for at least a decade. The investment case rests on execution at TZ and Oko, gold-price assumptions of $4,000 per ounce, and successful conversion of exploration potential into reserves.
Learn more: https://www.cruxinvestor.com/companies/g-mining-ventures
Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Claudia Tornquist, President & CEO, and Christopher Taylor, Chairman, of Kodiak Copper Corp.
Our previous interview: https://www.cruxinvestor.com/posts/kodiak-copper-tsxvkdk-proposed-alliance-with-teck-to-launch-new-us-copper-explorer-10100
Recording date: 23rd September 2026
Kodiak Copper Corp. (TSXV:KDK) is an exploration company built around the MPD copper-gold porphyry project in southern British Columbia. The property covers 357 square kilometres in an established mining district where Copper Mountain lies about 20 kilometres to the south, and Highland Valley sits 30 to 40 kilometres to the north. Kodiak's chairman, Chris Taylor, founded the company and CEO Claudia Tornquist joined Taylor for this interview at Beaver Creek.
The investment question is whether a large, lower-grade porphyry can grow into a project with economics. Tornquist said the maiden resource is already sizeable and that its grades align with regional mines and North American porphyry peers. She said Kodiak's task is to grow the resource and then show economic potential.
The December 2025 maiden resource holds about 439 million tonnes across seven deposits. Indicated resources are 82.9 million tonnes at 0.39% CuEq. Inferred resources are 356.3 million tonnes at 0.32% CuEq. Copper content is 519 million pounds indicated and 1,889 million pounds inferred. Gold content is 0.39 million ounces indicated and 1.28 million ounces inferred.
This year's 16,500-metre programme is the main lever. It is entirely shallow. More than 7,000 metres have gone into Ketchan, where Kodiak reported its best hole to date. Hole AG-26-019 returned 283.5 metres at 0.70% CuEq from 37.5 metres downhole. Management says each deposit contains higher-grade zones and that all remain open. It has also identified a new anomaly beside the South zone.
Management expects each round of drill results to build market confidence, and it links near-surface drilling to economics. A starter pit needs enough higher-grade material close to surface to repay initial capital. West and Adit fit that description today. Management did not commit to a date for an economic study.
Management said the market should understand the project far better once this year's results are incorporated. Valuation is the central argument. Kodiak is valuated at C$84 million as at 31 August 2026. NorthIsle Copper and Gold, Faraday Copper and Osisko Metals are each above C$1.5 billion. Tornquist described NorthIsle's path from a modest valuation to a PEA as the model. Cash was C$18 million. Management says 2026 is fully funded.
Kay Copper is a separate source of potential value. Kodiak is combining its Mohave project with Teck Resources' Copper Hill project in Arizona. Kodiak expects to hold 26.4%. Initial funding is just over $5 million, and the pro forma valuation is C$18 million. The deal has not closed.
The catalysts are a steady flow of drill results, Kay Copper completion and the first-quarter 2027 resource update. Investors should also weigh the risks. About 81% of tonnes are inferred. No economic study is scheduled. Drilling may not deliver the growth management expects. Kay Copper may not close on the expected terms.
View Kodiak Copper's company profile: https://www.cruxinvestor.com/companies/kodiak-copper-corp
Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Matt Manson, President & CEO of Radisson Mining Resources Inc.
Our previous interview: https://www.cruxinvestor.com/posts/radisson-mining-tsxvrds-obrien-82-gold-resource-growth-drilling-continues-high-success-rate-10919
Recording date: 22nd Sept 2026
Radisson Mining Resources Inc. (TSXV:RDS) has secured a strategic anchor shareholder while keeping its exploration programme funded. Agnico Eagle Mines Limited bought 53,420,000 units at C$1.07, raising C$57,159,400 and taking about 10.45% of the common shares. Half a warrant per unit would lift its stake to about 14.90% on a partially diluted basis if exercised. The placement remains subject to final TSX Venture Exchange acceptance.
The company will use the proceeds to begin an underground exploration programme at its 100%-owned O'Brien Gold Project in the Abitibi region of Quebec. The centrepiece is an access ramp to about 300 metres vertical depth. Ore drives through mineralised zones will bring material to surface, but Radisson will not develop stopes or mining panels and does not call the work a bulk sample. Manson said the programme is meant to test continuity of mineralisation, ground conditions, dilution and the tonnes per day the orebody can support. Those variables determine whether a high-grade narrow vein deposit can be mined at a steady rate.
Timing matters for investors tracking catalysts. Permitting and preliminary engineering have started. Manson expects to break ground on the portal around the middle of 2027, with about 18 months of work to reach depth. The objective is to have the ramp in place for 2029. In parallel, the 140,000-metre surface programme runs on eight rigs, with a ninth planned for a hole to 2.5 km depth. A resource update is likely by the end of 2026, followed by another in 2027.
The current resource stands at 2.3 million ounces, made up of 0.63 million ounces indicated and 1.69 million ounces inferred, according to the company's release. Manson said similar mineralisation continuing to a 2 km floor points to 3 to 4 million ounces in total, and he sees upwards of 4 million ounces. Manson cites an 83% success rate for deep step-out holes from shows 98 hits from 120 holes.
Valuation is where Manson sees a gap. He put the shares at US$191 per ounce on 2.3 million ounces after a C$1.17 close, against takeouts at US$500 to US$600 per ounce over the past six months. Precedent transactions are imperfect comparisons, since prices reflect stage, grade and infrastructure access. Manson also said Agnico Eagle's stake is a level Radisson is comfortable with and that the stand-alone path remains the default. Any use of the LaRonde infrastructure is a future step to be considered.
Risks remain as narrow vein deposits depend on continuity, and underground development has to keep pace with any future mill feed. O'Brien is a 1920s mine site with an old tailings facility, and Manson said legacy issues must be addressed. The exploration target is unproven, and the commentary comes from a company executive with an interest in the outcome. Investors should watch the year-end resource update, exchange acceptance and the 2027 portal start.
View Radisson Mining's company profile: https://www.cruxinvestor.com/companies/radisson-resources
Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Brian Miller, CEO of Astra Exploration
Our previous interview: https://www.cruxinvestor.com/posts/astra-exploration-tsxvastr-15m-raise-supports-high-grade-gold-silver-target-in-argentina-10209
Recording date: 22nd September 2026
Astra Exploration (TSXV:ASTR) is a precious metals explorer focused on gold and silver in Argentina and Chile. Its flagship is the La Manchuria project in Santa Cruz, Argentina, where the company holds 80% with an option to acquire 90% from Patagonia Gold Corp.
The final Phase III assays, released on 17 September 2026, covered eight holes from a 16-hole, 5,176-metre programme. Highlights were 3 metres at 4.34 g/t gold and 363.7 g/t silver at the Basalto Zone, and 8 metres at 3.12 g/t gold and 10.3 g/t silver in the Eastern Zone. Both remain open.
CEO Brian Miller states Phase III showed expansion in two systems. One is a disseminated bulk-tonnage system at surface. The other is a high-grade vein system. He also acknowledged that one target did not work. Holes drilled at 300 to 350 metres beneath apparently converging veins found narrow, low-grade veins in andesite. Miller called the result local. Astra will now concentrate on rhyolites and pyroclastics, which he said have been more predictable.
Miller also addressed how the market may value the two systems. He said an analyst who knows geology and mining favours the growing bulk system, while the wider market tends to prefer headline vein grades such as 80 g/t gold. He said little has changed at the project, and that some investors who held for a single target sold after the miss. He did not identify a direct peer, saying the two-system setting is somewhat unique.
The next phase is built around scale. Geological and geophysical data define five undrilled regional targets over a 4 by 4 kilometre footprint. Miller's favourite is Breccia, to the southeast, on strike with the Manchuria Hill vein structures. Astra has also expanded its La Manchuria claims from about 5,600 to about 39,000 hectares.
Astra plans 10,000 to 20,000 metres of drilling with two drills. Miller described 10,000 metres as the minimum. Drilling at La Manchuria is due to begin in November, with roughly 5,000 metres by year-end and a further 5,000 metres in the first quarter of 2027. The split between Manchuria Hill and the regional targets will follow results. The company reports C$12.5 million in treasury and describes its programmes as fully funded.
Don Mario sits in Chile's Maricunga belt, about 20 kilometres from the Refugio Mine. First-pass drilling is planned for January and February. A news release on the targeting work is expected in the next couple of weeks.
Investors should weigh several risks. Host-rock variability has already produced one miss. Winter reduces drilling productivity and raises cost per metre in Argentina. Assay turnaround has been slow, which can delay news flow. Miller also said the shares traded near their 52-week low in the week of the interview, and sentiment has reacted to individual drill results.
Near-term watch-items include the Don Mario release, the first assays from the Q4 2026 campaign, and how Astra allocates its early metres. Any conclusion will rest on assay results rather than on the plan alone.
Learn more: https://www.cruxinvestor.com/companies/astra-exploration
Sign up for Crux Investor: https://cruxinvestor.com/subscribe

Interview with Nick Smart, CEO, ValOre Metals Corp.
Our previous interview: https://www.cruxinvestor.com/posts/valore-metals-tsxvvo-undervalued-investment-series-with-nick-smart-9774
Recording date: 22nd September 2026
ValOre Metals Corp. (TSXV: VO, OTCQB: KVLQF, FSE: KEQ0) is a Brazil-focused precious metals developer advancing the Pedra Branca project, a 100%-owned, near-surface platinum-palladium-gold deposit in Ceará State. The project's appeal begins with jurisdiction: roughly 90% of global PGE supply is concentrated in South Africa, Zimbabwe and Russia, each facing distinct operational or geopolitical constraints, while Pedra Branca sits outside that concentration entirely, benefiting from a four-hour paved highway link to Fortaleza's international port and airport.
The current resource base - a 2022 NI 43-101 inferred estimate of 2,198 koz 2PGE+Au across seven near-surface zones - has already doubled since ValOre acquired the project at roughly 1.1 Moz, following an additional US$10 million and 23,534 metres of company-funded drilling layered onto a legacy dataset from prior owners Anglo American and Anglo Platinum. A further 5,000-6,000 metres drilled since the 2022 estimate, including five new exploration zones, has not yet been incorporated into a public resource figure, leaving a visible near-term catalyst in an updated estimate.
Metallurgical testwork is the other major workstream ahead of the PEA. The company is scaling up leach testing from shake-flask to column and stirred-tank vessel trials to assess heap-leach amenability on weathered, oxidised material (roughly 40% of tonnage), while advancing conventional flotation on the fresh material that contributes the bulk of contained ounces. Recovery testwork is currently tracking in the high 70% range, with management indicating room for improvement as the flowsheet is optimised - a genuine trade-off exists between lower-capex heap leaching and higher-recovery vessel processing that the PEA will need to resolve.
Management has signalled a preference for staged development over a single maximum-scale build: securing licensing for an initial phase, proving the process, and adding capacity in subsequent phases as cash flow supports it, rather than raising capital repeatedly to reach full scale before any production decision. That approach, combined with Brazil's expanding domestic PGE processing capacity - illustrated by neighbouring Bravo Mining's proposed smelter complex at the port of Barcarena, which ValOre has flagged as a potential logistically attractive buyer for future concentrate - points toward a capital-efficient path to first production rather than a single binary de-risking event.
On valuation, ValOre's roughly $20M market capitalisation compares to a peer set - Bravo Mining, Platinum Group Metals, Generation Mining and Stillwater Critical Minerals - carrying market caps from ~$126M to ~$440M at broadly comparable or more advanced project stages. Insider and close-associate ownership stands at 30% combined, with resource and mining funds holding a further 25%. Cash on hand was under $0.8M as of September 1, 2026, against 255M shares outstanding (304.2M fully diluted), underscoring that near-term financing will likely be required to fund the PEA and subsequent development studies. The company's key near-term catalysts are the updated resource estimate, the Q4 2026 PEA, and subsequent licensing steps into Q1 2027.
Learn more: https://www.cruxinvestor.com/companies/valore-metals
Sign up for Crux Investor: https://cruxinvestor.com/subscribe