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Stakeholder Gold: Brazil Cash Flow to Fund Yukon Drilling Without Dilution

Mining Network Sep 30, 2026 27:13

Summary

The CEO says Brazilian quartzite quarry cash flow will internally fund Yukon drilling, with no share issuance expected and just over 25 million shares outstanding.

Quarry profit is unsettled: the host totalled four operations near US$4 million, the CEO answered nearer US$3 million, citing problems at another site.

Management projects 5,000 to 8,000 metres of drilling next year at a reduced US$250 to US$300 per metre once the new road opens.

The first Loki hole, extended to 488 metres on visible chalcopyrite, returned five metals from one hole rather than a zone-wide result.

The CEO calls Sky epithermal across subparallel veins over roughly 4 km of strike, and the Golden Saddle comparisons are his own characterisations.

Key points on Newmont

  • Newmont is named once, in passing: the guest says that when Newmont was the owner it "did further work when they were the owner along the road route" for the northern access route serving the coffee mine, a route first identified in 2016 as permitting for the coffee moved forward. The recording offers nothing further about Newmont — no operations, production, reserves, tenure dates or commercial terms.

Christopher Berlet's takeaways

  • Top takeaway His thesis is dilution avoidance. He says the Brazilian quarry business exists so the Yukon can be explored while the share count is held, stating the company is not going to be "required to issue any shares" and "We're not issuing shares today, we don't expect to", and describes moving onto the exploration model in the Yukon as "our immediate objective for 2027".
  • He relays, second-hand, the dilution argument he attributes to a separate interview he says he did with Adrian Day at Beaver Creek: a company starting on "10 million shares outstanding" and reaching "160 million shares outstanding" leaves early investors needing the share price to "go up 16 times". He presents the quarry-funded, non-diluting model as the answer to that pain point. Adrian Day does not appear or speak in this video.
  • His funding arithmetic: four operating Brazilian quarries with the last two coming on, 100 cubic metres per month targeted by end of 2026, roughly "about a million dollars profit per year" per quarry at that rate and an ambition of "10 quarries" — but when the host totals the four at "about $4 million in profit" he corrects it to "in that range three Three million dollars", a figure left unreconciled on air.
  • His drilling plan: "just over 2,000 meters" this year at "almost $1,000 a meter this year" flown in by helicopter, rising to a projected "5,000 to 8,000 meters without issuing any shares" in 2027 at "in the range of maybe 250, 300 as low as maybe 250" per metre as the road is brought in. He notes the gold and critical-mineral targets are all "100% owned by the company with no royalties" and about 8 km apart along the road.
  • His two district calls: that Loki is a critical-minerals anomaly unlike the area's gold-copper systems — five metals from one hole taken to 488 m, metals he says are "on all the critical mineral lists internationally" and "on every list outside of South Africa and Russia" — with potential he puts at "multiple such deposits in this ultramafic intrusive"; and that the Sky gold system is subparallel and epithermal rather than structurally hosted, with "about 4 kilometers in total in strike length" across Sky North, Sky South and the northwest zone, which he considers "most like golden saddle" because of the absence of arsenic across 2,500 samples.