Company Interviews

Interview with Michael Gentile, Investor
Our previous interview: https://www.cruxinvestor.com/posts/mining-alpha-with-michael-gentile-40t-debt-negative-real-rates-gold-volatility-9758
Recording date: 30th April 2026
The junior mining sector is undergoing a fundamental revaluation, evidenced by two landmark acquisitions that have established new pricing benchmarks for quality gold assets. G Mining Ventures acquired G2 Goldfields at approximately $600 per ounce, while Agnico Eagle purchased Rupert Resources at $500-600 per ounce. Both transactions commanded 70% premiums to prevailing market prices, marking a significant departure from the $50-150 per ounce valuations that have persisted despite gold's rise from $1,500 to $4,500.
These premium valuations reflect a strategic shift toward infrastructure-adjacent assets that offer reduced capital requirements and faster payback periods. In G Mining's case, the target sits directly adjacent to their operation under construction, potentially creating a combined 500,000-ounce annual production profile while eliminating over $1 billion in duplicate infrastructure costs. At current gold prices and $2,000 all-in sustaining costs, acquiring ounces at $600 where minimal additional capital is required still yields $1,900 per ounce in cash margin.
Strategic investor Michael Gentile, co-founder of Bastion Asset Management, has built his investment framework around this infrastructure dynamic. Operating with 30-35 core positions, he allocates initial capital at 1% of portfolio value, targeting 5-20% ownership stakes in post-discovery companies with $30 million market capitalizations. His emphasis on management ownership of 10-30% of shares, proximity to existing infrastructure, and clear pathways to production has produced five to six successful exits over nine years of full-time investing.
The investment process emphasizes patience, with typical timelines of 5-10 years from discovery to acquisition or production. Gentile acknowledges that only 20-30% of investments reach full realization, making diversification across minimum 10-15 positions essential. Position sizing scales with performance, with successful investments receiving up to 5% of book capital across multiple financings while underperformers remain capped at initial allocations.
The improving financing environment, characterized by tighter pricing terms and major miners' strong balance sheets, supports continued M&A activity and potential sector-wide revaluation as quality near-term assets become increasingly scarce.
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Interview with Luis Goyzueta, Chairman & CEO of Titiminas Silver
Recording date: 1st May 2026
Titiminas Silver is advancing the restart of the Madre Sierra mine in central Peru, positioning itself as a fast-moving entrant focused on reviving a past-producing, high-grade polymetallic asset rather than pursuing traditional exploration. The project hosts a 1.2 million ton historical resource grading 4–5 ounces per ton silver, alongside copper, gold, zinc, and lead, for roughly 20 million ounces of silver equivalent. With only three of six identified veins historically developed across a small area of a 2.2-kilometer strike, the company sees substantial upside for resource expansion.
A key advantage lies in the project’s strong infrastructure and permitting position. Madre Sierra is located near a regional airport, paved highway, and power access, while holding an existing 350-ton-per-day mining permit and a community agreement secured through 2032. These factors significantly reduce development risk and enable an accelerated timeline. The company plans to begin drilling shortly, targeting a maiden resource estimate within a year and a final investment decision by late 2027, potentially based on a preliminary economic assessment.
Initial production is expected at 350 tons per day, yielding დაახლოებით 1.2 million ounces of silver annually, with capital costs estimated at $35–45 million. A second phase could expand throughput to 800–1,200 tons per day, increasing output to as much as 3.5 million ounces per year. The polymetallic nature of the deposit provides diversified revenue streams, enhancing project resilience.
Led by CEO Luis Goyzueta, who brings decades of Peruvian mining and private equity experience, Titiminas is also pursuing a broader growth strategy. Leveraging proprietary relationships, the company aims to acquire similar high-grade assets in central Peru, targeting long-term production of 10 million ounces of silver annually. Additional upside comes from a high-grade molybdenum discovery on its northern property, which may offer future strategic value.
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Interview with Jon Deluce, President & CEO of Abitibi Metals
Our previous interview: https://www.cruxinvestor.com/posts/abitibi-metals-cseamq-doubles-resource-on-high-grade-copper-gold-vms-9195
Recording date: 29th April 2026
Abitibi Metals recently secured a transformative $31 million investment from Discovery Silver, marking a major institutional validation of its B26 polymetallic deposit in Quebec. In exchange for a 9.9% stake, Discovery Silver provides both a substantial capital injection and invaluable operational expertise. Developed over a two-and-a-half-year partnership with the Quebec government subsidiary SOQUEM, the B26 deposit currently boasts 25 million tons at a 2.1% copper equivalent. This impressive scale places it among a rare class of large-scale copper, gold, and zinc assets in Canada's mining-friendly jurisdiction.
The alliance brings far more than just funding. Discovery Silver’s management team has a proven track record of building successful mines, offering Abitibi critical guidance in permitting, community engagement, and environmental management. Over the past 18 months, Abitibi’s valuation has surged from $30 million to roughly $150 million. Notably, this latest financing was completed without issuing warrants. This careful structuring preserves equity for existing shareholders while positioning the company for aggressive expansion without near-term dilution risks.
Now fully funded through 2027, Abitibi is launching a massive 80,000-plus meter drilling program. The immediate focus is delivering a Preliminary Economic Assessment (PEA) and an updated resource estimate in the first quarter to outline the project's early payback potential. Looking ahead, Abitibi plans to use B26 as a flagship anchor to consolidate the broader mining camp through strategic acquisitions. With structural demand growing for both copper and gold, this new war chest allows Abitibi to advance confidently toward a feasibility study and fully capitalize on a strengthening commodity cycle.
View Abitibi Metals' company profile: https://www.cruxinvestor.com/companies/abitibi-metals
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Interview with Erin Zaunscherb, Chairman & CEO of GR Silver Mining Ltd.
Our previous interview: https://www.cruxinvestor.com/posts/gr-silver-mining-tsxvgrsl-high-grade-silver-strike-opens-up-expansion-potential-7893
Recording date: 29th April 2026
GR Silver Mining (TSXV:GRSL) is a silver-focused exploration company advancing the San Marcial project in Sinaloa, Mexico. The company holds 134 million ounces of silver equivalent in resources, has historically added ounces at a cost of US$0.12 per ounce, and is currently executing a 20,000-metre drill programme designed to grow that resource base materially. For investors, the combination of a large existing resource, a low discovery cost, an expanding geological model, and a structured near-term catalyst pipeline defines the investment case.
The project's geological setting is more complex and more prospective than the headline resource alone suggests. San Marcial sits within a breccia system hosted by an intrusive body, of which only approximately 20% of the perimeter has been tested. The remaining 80% of that perimeter represents high-priority exploration ground in analogous structural positions to existing high-grade mineralisation. Beyond the main breccia, geological mapping has identified parallel breccia bodies forming concentrically around the intrusive core, showing elevated gold. Surface sampling further toward the intrusive centre has detected copper and molybdenum, raising the possibility of a porphyry mineralisation model at depth. Within the main breccia itself, four to five distinct mineralisation pulses have been identified, adding vertical scale to the system.
Early results from the current drill programme are consistent with these interpretations. Hole 2601 returned 6.5 metres grading 500 grams per tonne silver, including 1.2 metres of 1,600 grams per tonne, with a notable 61-metre interval at depth confirming the system remains alive well below current resource boundaries. Hole 2603 returned 15.6 metres of 351 grams per tonne silver from 200 metres, including 2.5 metres at 1,400 grams per tonne. Drilling is now on holes 10, 11, and 12. The full 20,000-metre programme is targeting completion in the second half of the year, to be followed by a resource update and the commissioning of a PEA.
A separate but strategically connected element is the planned bulk sample test mining programme at the Plomosas mine, which sits on the same land package. With 7.4 kilometres of existing underground development and permits already in place, Plomosas offers a low-capital pathway to early cash generation and, more importantly, to demonstrating operational credibility with Mexican regulators. San Marcial currently holds exploration concession status, which carries a permitting timeline of five to seven years under conventional processes. A positive track record at Plomosas could shorten that meaningfully, with direct implications for the project's net present value.
The company is fully financed with no debt, providing operational continuity through the current programme without near-term dilution risk. Following the passing of founder and CEO Marcio Fonseca, executive chairman Eric Zaunscherb has stepped into an interim leadership role. Field teams remain active and motivated, and the exploration programme has continued without interruption.
For investors with an appetite for primary silver exposure at the exploration stage, GR Silver Mining offers a large resource base, an expanding geological thesis, a defined catalyst sequence, and a valuation that has not yet reflected the full scope of what is emerging at San Marcial.
View GR Silver Mining's company profile: 
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Interview with Robert Wrixon, Executive Director of Nordic Resources
Our previous interview: https://www.cruxinvestor.com/posts/nordic-resources-asxnnl-finlands-rising-star-in-the-global-battery-metals-race-6336
Recording date: 28th April 2026
Nordic Resources (ASX:NNL) is emerging as a strategic play in Finland's gold sector following Agnico Eagle's high-premium acquisitions of Rupert Resources and Orion Resources in the Central Lapland gold belt. The company controls three gold projects in Finland's central Ostrobothnia region—Kopsa, Kiimala, and Hirsikangas—positioned to benefit from similar dynamics that drove those recent transactions.
The flagship Kopsa project hosts 815,000 ounces at 1.1 grams per ton, with 90% of resources sitting within 150 meters of surface. Critically, Kopsa contains a high-grade core of approximately 5 million tons averaging 2 grams per ton—potentially two to three years of higher-grade production that significantly enhances project economics. The asset comes with a conditionally granted mining concession, placing it ahead of most Finnish exploration projects in development timeline.
Executive Director Robert Wrixon argues that Nordic Resources offers similar strategic advantages to the recently acquired Central Lapland assets: tier-one jurisdiction, existing infrastructure including two nearby processing plants and rail connectivity, and district-scale consolidation potential. "It's not just about the grade and the geology anymore," Wrixon notes. "It does matter where you are, if there's a district scale consolidation play and if there's infrastructure around."
The company is executing an aggressive exploration program funded by A$10.6 million in cash, planning to drill 20,000+ meters in 2026 with a resource update expected in September incorporating 8,000 meters of new drilling and metallurgical test work. Management is pursuing a dual strategy: growing resources through exploration while developing production optionality through potential toll-treating arrangements at existing regional plants.
Trading at approximately A$40-45 per ounce versus the substantial premiums paid in recent Finnish transactions, Nordic Resources positions itself as the "next cab off the rank" in Finland's increasingly valuable gold districts, offering investors leveraged exposure to resource growth, early production pathways, or district consolidation scenarios.
View Nordic Resources' company profile: https://www.cruxinvestor.com/companies/nordic-nickel
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