Skip to main content

Guy Le Bel of XXIX Metal Corp. talks to Robert Sinn | Metals Investor Forum Sept. 2026

Metals Investor Forum Sep 25, 2026 10:01

Summary

XXIX Metal is advancing two Canadian copper projects: Thierry in Ontario (active K1 drilling) and Opemiska in Quebec (PEA complete, PFS underway).

At Thierry, the K1 zone is reinterpreted to show grade rising with depth — 0.54% copper over 175m at 400m, mineralization at 600m.

Opemiska drilling above a former Falcon Bridge gold mine identified a new zone — 7.5m of 1 oz/ton gold, 3 oz/ton silver, 1% copper.

The CEO pegs upside against a $2B-market-cap peer copper mine; XXIX trades at ~$80M and aims to close that gap.

Six drills across both projects by year-end; Thierry drilling paused for hunting season and resumes late October.

Guy Le Bel's takeaways

  • Top takeaway Le Bel's central thesis is valuation arbitrage: with XXIX at roughly $80M market cap versus Kazelec Mine at about $2B on a comparable project, he plans to close the gap through marketing and drilling catalysts.
  • He pitches Thierry in Ontario as "the best kept secret" in the province and as its largest copper resource, arguing it sits at the end of the paved road versus the better-known Ring of Fire.
  • He positions both assets as brownfield, polymetallic (Cu, Ni, PGMs) projects, with Thierry's open-pit potential and grade increasing with depth as the key upside drivers in his view.
  • On Opimiska, he is pressing to move the new "Cook zone" gold-copper discovery into the PFS resource category and to follow up on a "banger" hole (7.5 m at ~1 oz/ton Au, 3 oz/ton Ag, 1% Cu) this winter.
  • His near-term plan is aggressive drilling: six drills across Thierry (Ontario) and Opimiska (Quebec) by the new year, paired with marketing aimed at closing the valuation gap to peers.

Robert Sinn's takeaways

  • Top takeaway As the guest moderator at the Metals Investor Forum, Robert Sinn steers the interview through structured technical questions on Thierry's K1/K2 zones and Opimiska's PFS-stage work.
  • Sinn frames XXIX's pitch as an "opportunity" for investors and presses Le Bel on how the valuation gap to peers will actually be closed.