$15 Million in Gold Is Just the Beginning
VRIC Media Jun 17, 2026
Summary
Seva Mining's CEO frames the roughly $15 million gold stockpile on site as a base for modeling ten years of production.
The strategy is DSO (Direct Shipping Ore — trucking ore to a third party's mill) rather than building a mill, keeping capex low.
Existing infrastructure — a 20-kilometer road, a camp and transmission at its end — already cuts what the mine would have to build.
The CEO says Seva is seeking a processing partner on Highway 71, either south at Rainy River or north with West Red Lake.
Key points on West Red Lake Gold Mines
- The guest names West Red Lake as a potential processing partner for Seva Mining if ore is shipped north.
- He refers to West Red Lake as another FURIA company and calls its mill shiny new.
Ranj Pillai's takeaways
- Top takeaway Pillai argues Seva Mining should adopt a direct shipping ore model with low capex, trucking material to highway 71 instead of building processing infrastructure.
- He treats the roughly $15 million of gold already on site as only a starting point, saying the company can show what production over the next 10 years would bring.
- He argues existing assets — a 20-kilometer road, a camp already on site and transmission at the end of the road — mean little buildout is required.
- He lays out two open processing options for the ore: going south to a partnership with Core, which he says has just bought Rainy River, or going north to West Red Lake's newer mill.