Guy Le Bel of XXIX Metal Corp. presents at Metals Investor Forum in Vancouver | Sep 2026

Summary

XXIX Metal's CEO pitches two brownfield copper-gold assets, claiming Opemiska's PEA at today's metals would clear $1.2B NPV at a 50% IRR.

Opemiska's first six years of mining exceed 1% copper equivalent — two-thirds copper, one-third gold — under just a 1% NSR.

Opemiska's low capex rides on existing infrastructure from four historic shafts; growth axes include a higher-grade pit, the saddle zone, and Cook.

A late Cook drill hole returned 7.5m at ~1 oz/t gold, 3 oz/t silver, and 1% copper — the best intercept on the property in 100 years, geologists say.

Ontario's copper-nickel project shows grade rising with depth — from 0.22% Cu near surface to 0.54% Cu at 400m; an MRE is expected next year.

Guy Le Bel's takeaways

Top takeaway Le Bel's core pitch is that XXIX Metal is 'dead cheap' relative to its asset base, opening his talk by telling the audience to put their phones away for ten minutes if they came to make money.

He frames both XXIX Metal assets as low-capex brownfield stories in tier-one jurisdictions (Quebec and Ontario) where infrastructure already exists — rail, roads, airports and town support — which he says is what differentiates Opemiska from peers.

On Opemiska, he argues the economics are driven by grade (over 1% CuEq for the first six years) and a tiny 1% NSR, and that the PFS-stage pit will grow materially because only half the resource envelope was used in the PEA.

On Ontario, he is calling a deepening grade thesis — every deeper hole on the K1 zone has returned higher copper than the one above it (0.22% to 0.32% to 0.40% to 0.54% at 400m) — which he reads as evidence of a large open-pit target.

He is unusually candid that the 7.5m @ ~1 oz/t gold hole on the Cook crown pillar could be 'a one-hole wonder', saying resolution will come only after the next winter drill program, and pairs that caution with a promise of heavy news flow over the next six months.