Scott Casselman of Rackla Metals Inc. talks to John Kaiser | Metals Investor Forum Sept. 2026
Summary
First Lentung assay results are due within weeks, and management expects drilling to support an NI 43-101 resource (Canada's reporting standard) next year.
The estimate leans on resampling about 25,000 metres of 1977-1982 Union Carbide core, since twin holes confirm the historical drilling's locations and data quality.
A $3.6 million flow-through financing (shares funding exploration, sold at a premium) tops up $8.5 million in hard-dollar cash already in the treasury.
Drone magnetics flagged about six new anomalies - pyrite in tungsten skarn is magnetic - along a 15-kilometre limestone band, triggering a property-wide helicopter survey.
Management confirms weighing a bid for the mothballed tungsten mine 55 kilometres away, viewing Lentung's near-surface high grade as a sweetener for its remaining ore.
Key points on Fireweed Metals
- Kaiser speculates the group he ties to Fireweed's MacTung project could be a contender to acquire the mothballed Cantung mine; Casselman says such a buyer would not necessarily be bad for Lantung.
Key points on Snowline Gold Corp
- Kaiser notes Rackla's 2025 GRAD drilling attracted a big audience as a potential Snowline Valley-style reduced intrusion-related gold system; Casselman admits those results disappointed investors.
Robert Friedland's takeaways
- Top takeaway Kaiser floats Friedland - citing his $400 million loan promise for an Australian scandium project - as the kind of well-funded figure who could land Cantung; Casselman says that would not necessarily hurt Lantung.
John Kaiser's takeaways
- Top takeaway Calls Rackla his favorite tungsten junior and says he adopted it as a serious bottom-fish for subscribers when it traded around 10-15 cents.
- Voices subscriber concern that the flow-through financing signals dilution and could keep the stock stuck in its 20-30 cent range.
- Raises the unconfirmed rumor that Rackla may bid for Cantung and floats the Fireweed/MacTung group or Robert Friedland as rival bidders.
- Pushes for scout holes into the new magnetic anomalies to test whether the story scales bigger rather than keeping them as tantalizing prospects.
- Closes by expecting serious price appreciation as the market comes to understand the tungsten story and this project.
Mr. Scott Casselman's takeaways
- Top takeaway Argues Lantung is a genuine high-grade, near-surface, open-pitable tungsten asset and is confident the merged datasets will support a mineral resource estimate in the new year.
- Confirms Rackla has studied a bid for the mothballed Cantung mine (no offer yet) and believes Lantung's high-grade ore would blend well with Cantung's remaining lower-grade ore and infrastructure.
- Defends the $3.6 million flow-through financing as optimization, pointing to about $8.5 million of hard cash already on hand.
- Is excited by about half a dozen new magnetic anomalies larger than the known zones and hopes one or two can be scout-drilled if weather allows.
- Admits last year's GRAD gold results disappointed but says first Lantung assays due within weeks should confirm the tungsten is real, with scheelite visible in core under UV light.