THE Mining Investment Event

THE Mining Investment EVENT is Canada’s Only Tier I Global Mining Investment Conference, held annually in Québec City, Canada.

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The inimitable Terry Salman returned to the stage again this year to close out the day with a keynote speech. Salman shared his concerns about global uncertainty and cautioned about nearly non-existent supply chains, all while remaining optimistic about investing in junior companies.

He also entertained us with stories about jogging in the Gobi desert with Robert Friedland, not returning a call to Eric Sprott about doing something together (“a regret”), and how Ross Beatty is like “a squirrel—hiding nuts he can come back to later.”

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We’re on the home stretch!

Gordon Robb of ES Gold Corp., took to the stage to share how the company is racing toward the finish line, advancing toward commissioning the mill at its Montauban project. Montauban is a historic mine with a non compliant resource. The company’s strategy is to clean up and mine the historic tailings generating revenue to fund an extensive drill campaign on the property.

We shifted from a company racing to the finish line to a company that may be at the starting line for a rerating. Brian Penny of Wallbridge Mining explained in a fireside chat how the company recently closed a game-changing C$56M financing that will allow it to advance its Fenelon project to pre-feasibility. The financing brought in a new strategic shareholder, Waratah Capital Advisers Limited, which took 19.9%, and increased Agnico Eagle’s position to 19.9%. The company also plans to move forward under a new name, Sunday Lake Gold, and complete a 20:1 consolidation, reflecting its transition to this next chapter.

We’re closing out the day’s investor presentations with GEOMEGA Resources, a Quebec based company, working to turn waste into capital streams. Kiril Mugerman explained how the company’s technology could replace the need to build new mines. The goal is to license the technology in deals that include a royalty on the recoveries. This morning the company announced that it had received an environmental permit for its rare earth magnet demonstration plant in Saint-Hubert.

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After multiple presentations on gold, copper and critical minerals since the conference began, we turned to a panel on silver moderated by Phillips S. Baker, who is marking 40 years in the industry this year.

Panelists Peter Lekich of New Pacific Metals; Robert Bruggeman of Outcrop Silver Corp; Shawn Khunkhun of Contango Silver and Gold Inc opened by talking about how the market doesn’t understand the cumulative silver market deficit.

Silver is an industrial metal, an alternative to gold, and a speculative investment vehicle, all of which has an impact on market dynamics. Demand for silver investment has grown from almost negligible to 25% in 2025, while demand for solar panels was 19% in 2025, yet wasn’t even charted in 2000. Overall, silver demand has grown by 40%, even though one driver—photography—has disappeared entirely.

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When you’re looking for elephants, you want to be in elephant country. As Nicole Hoeller of Mithril Silver and Gold Limited ably demonstrated, Mithril is in elephant country. She talked about exploration at the company’s Copalquin and La Dura projects, which are surrounded by some of Mexico's major silver producers and sit in the prolific Sierra Madre gold-silver trend.

Derek MacPherson then sat down for a fireside chat on West Point Gold. The company is focused on its Gold Chain project, which is on the Arizona side of the Walker Lane Trend. He explained that Gold Chain has been overlooked because it doesn’t have traditional pathfinder elements, and how the company is using Hyperspec to identify targets on this large, district-scale epithermal gold system.

Two is a key number for Azimut Exploration, presented next by Jean-Marc Lulin. The company is advancing from being a project generator to advancing two gold projects: Elmer and Wabamisk, which has had two gold discoveries in the past two years. Azimut also has exposure to critical minerals through two projects, and is planning 20,000 metres of drilling across its portfolio in 2026.

“I believe the next couple of results will be quite significant because things are starting to shape up,” said Mathieu Savard of Vior Gold Corp., which released exploration results from its Ligneris Project near Amos in Quebec yesterday: https://t.co/1YRybFJXkQ

Savard spoke about getting addicted to discovery, as he was a key part of the teams that discovered the Éléonore gold deposit and the Lynx zone at Windfall. He explained how he’s looking to make it a hat trick with Vior.

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For the last panel of the day, Nicole Adshead-Bell led a packed panel on Powering the Transition: Critical Minerals. The conversation focused on how seven companies are powering their own transitions from discovery to development to production.

Highlights include:

• Partnerships: collaborating with First Nations and government are vital to advancement and success
• People: a key differentiator, as the right management team can create or destroy enormous value
• Education: communities and governments are still learning about critical minerals like niobium, while critical minerals companies need to learn about the intricacies of the markets they are entering
• Collaboration: between companies and throughout the industry, whether it comes to solving technical challenges or improving the overall perception of mining where we work and more broadly
• Costs: the CAPEX required to build a precious metals project into a mine are far less than what you need for a copper or iron ore project

Panelists: Melissa Mackie, Gunnison Copper; Guy Goulet, Cerro De Pasco Resources Inc; Nicholas Van Dyk, Northisle Copper and Gold Inc; Joseph Carrabba, North American Niobium; Jeremy Neimi, Juno Corp; Peter Espig, Nicola Mining.

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As our second set of investor presentations kicked off, we heard about an African based project for the first time. Mohamed Cisse of Avanti Gold talked about the drivers of the company’s meteoric share price increase from $0.03 to a high of $1.10 in March. He also reviewed how Avanti Gold is exploring for gold on an extensive land package along the Kibara Gold Belt Corridor in the D.R.C.

Melissa Mackie of Gunnison Copper Corp took to the stage next. She spoke about how Gunnison is developing and operating copper mines in Arizona, delivering copper cathodes to American supply chains.

One customer? Amazon Web Services, which will use the first ever copper produced through Gunnison’s Nuton technology in components of AWS’s data centres in the U.S. Mackie also spoke about how the company’s institutional ownership has increased to approximately 60%, after closing an over subscribed C$34.5M bought deal this morning: https://t.co/n3S1hPlw6W

We closed out this session of investor presentations with Martin Turenne of FPX Nickel, who spoke about what makes the Baptiste Nickel Project in British Columbia so unique. A novel style of nickel mineralisation that is non-sulphur bearing, the product does not need to go through smelting but can be fed directly into supply chains.

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We’re onto our first series of company presentations of the afternoon, opening with a fireside chat with Troy Boisjoli of Atha Energy Corp.

Boisjoli spoke about exploration success on its vast 3.8M acre land package in the Athabasca Basin, as well as its land packages in Nunavut and Newfoundland, plus the company’s 10% carried interest in key exploration projects in the Basin.

“Our goal is to become the greatest consolidator for small scale gold and silver projects that this province has ever seen,” said Peter Espig of Nicola Mining, who presented next. Espig spoke about the company’s Merritt Mill facility, the only permitted mill in the region, exploration at its B.C. projects, and what’s driving the hockey stick revenue growth.

In our next fireside chat, Robert Bruggeman spoke about the fundamentals of the silver market and what attracted him to join Outcrop Silver & Gold Corp. in April as CEO. He talked about the appeal of the company’s Santa Ana project, which is a high grade silver vein system in Columbia. The company announced assay results this morning that continued to strengthen its confidence in the continuity of its Aguilar system: https://t.co/AzWc9zgb00

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“Lately we’ve seen junior mining companies joining together, like Sirios Resources with the acquisition of OVI Mining, and we’re seeing major synergies developing in the industry, which is interesting”—Sylvain Lépine, NQ Investment

What is the role of each of the institutional funds in Québec? Our lunch panel assembled representatives from each of the province’s mining funds shed some light on this subject, moderated by Thomas Bachand of National Bank.

The group returned to themes first introduced by Jocelyn Douhéret in his morning keynote:
• How the province set itself apart from other provinces to foster critical and other mineral development.
• How the province was the first to actively invest in resource projects.
• How the province is streamlining its permitting regime.

“Quebec’s leadership is recognised everywhere,” said Laferrière.

Panelists: Jocelyn Douhéret, Directeur général des politiques et du développement minier; Amyot Choquette, Directeur principal, investissements d'Investissement Québec; Sylvain Lépine, Directeur général, NQ Investissement minier; André Laferrière, directeur aux investissements de SIDEX; Ahmed Hassani, Associé senior, capital-investissement, La Caisse.

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Silver was again in the spotlight as we continued with the last of the company presentations before our lunch panel.

“We’re finally in a good market for silver,” said Jose Garcia of Silver X Mining Corp., which is also operating in Peru. He presented on how the company plans to be operating three mines and two mills by the end of 2029, increasing production by 6x. Silver X is currently focused on optimising its Tangana Mining Unit, delivering record production in Q1, and improving the metals mix.

“We are probably one of the companies closest to making a production decision in Canada and the United States,” said Greg Crowe of Silver One Resources. After giving an update on the company’s Candelaria project in Nevada, Crowe touched on the uses for silver, and the implications of silver being added to the U.S. Critical Minerals list.

“We’re moving from an exploration story to a development story quite rapidly,” said Jonathan Hill of Lavras Gold Corp. He chronicled the evolution of a district-scale gold system at Lavras do Sul, meaning digging of the south in Brazil. He also introduced the company’s new CEO, Federico G. Velásquez, announced Monday: https://t.co/H26WrQCO9P

“The Cisco project is relatively new, but the work that we’ve done there is amazing,” said Alicia Milne of Q2 Metals Corp. of its lithium project in the James Bay region of Quebec. She spoke about how the company is going to deploy the $70M it raised in a bought-deal financing that was completed last week. We also returned to our theme of bests and greats: Cisco is the largest spodumene lithium deposit in the western hemisphere.

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Shawn Khunkhun of Contango Silver & Gold remained on stage to kick off our next series of company presentations. He introduced this new company, a result of the merger between Dolly Varden Silver and Contango Ore. Contango has a high grade portfolio, 33M shares outstanding, $100M in the treasury, and generates around $100M a year. Trading at the highest P/NAV multiple, Contango is positioned for rerating, said Khunkhun.

Our brief foray into silver, Duncan Roy of Power Metallic Mines Inc, presented on what the company believes in the highest grade copper and PGE deposit in the world. He echoed others who characterised Quebec, home to Nisk Main and Lion Discovery, as a fabulous place to work. He shared how the company’s shareholder register includes some industry heavy hitters like Rob McEwen and Robert Friedland, and addressed market concerns around metallurgy, project economics, and size head on.

From the highest grades to the best. Guy Goulet of Cerro De Pasco Resources explained how the company is working to generate value from the stockpiles of the historic and storied Cerro De Pasco operation in Peru. “We have one of the largest above ground mineral assets on the planet,” said Goulet.

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Just what exactly does a metals trader do? Glencore PLC/Glencore Canada’s Toby Spittle started the morning’s first session with a presentation that answered the question and shared what sellers need to consider in negotiating sales agreements.

He was followed by David D’Onofrio of White Gold Corp., speaking about “one of the most exciting groups I’ve been a part of in many years.” White Gold’s properties are in the Yukon, where the gold rush that started more than a century ago continues to this day.

Peter Lekich of New Pacific Metals Corp. talked about the company’s Silver Sand Project, uniquely pure silver, where the focus is on the community and environmental studies. He also spoke about Bolivia, “one of the last prospective” frontiers, and the company’s projects in the country.

“Great geology allows for grand ambitions on the producer side,” said Olivier Caza-Lapointe of PMET Resources, who took to the stage next. He spoke about the company’s lithium caesium tantalum pegmatite project in Quebec. It’s a rare type of deposit that’s a top 10 global resource yielding multiple opportunities for the company.

“If your mindset is that B.C. is a tough place to permit, I’m here to tell you that’s changed,” said Nicholas Van Dyke of Northisle Copper & Gold Inc., validating what we heard from The Hon. Jagrup Brar yesterday about how the province is streamlining the permitting process. Closing out this session of corporate presentations, Van Dyke gave a project development on its North Island copper development project on Vancouver Island. North Island was also recently added to the B.C. Critical Minerals Office, which may be helpful to accelerating the development timeline for this potentially multigenerational mining camp.

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More than 20 producing mines, 50+ deposits under study, and 1,100 exploration projects, billions invested.

Quebec is the place to be.

Jocelyn Douhéret, Québec Strategy for the Development of Critical and Strategic Minerals, started the morning and celebrated the province’s successes, and how the government is working to build on its history to support resource development for the benefit of all. He outlined the strategy for realising the vision of making Quebec a hub for critical and strategic minerals in North America and internationally.

“Il y a une opportunité pour le Québec d’utiliser ce qu’on a et le transformer en richesse.”

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We’re gearing up for another great day of conversations, presentations, and connections.

A day one highlight was a lunch time panel on production finance moderated by Daniella Dimitrov of Equinox Gold. This group of seasoned mining legends sat down to discuss how financings have changed since THE Event launched in 2022: Renaud Adams of IAMGOLD Corporation; Jean Robitaille of Agnico Eagle; Michael Gentile of BAM Asset Management; Sean Roosen of Osisko Development and Caroline Donally of Sprott Resources Streaming & Royalty.

Key themes included:
• Competitive landscape: financiers—some of whom seemed to be single-handedly propping up the market—are now competing to participate in financings.
• New structures: Roosen spoke about his recent cap call financing, which he thinks more Canadian companies will start using.
• Juniors are still waiting: Generalist money for exploration is still sluggish. “The challenge is finding those people who will put money in early stage,” said Donally.
• Financial Discipline: “It’s nice that we are generating so much cash, but we still have to be careful. We can’t buy everything.” said Robitaille of Agnico Eagle.
• Managing dilution: “The number one enemy of value creation,” said Gentile, remains the challenge for juniors who need to finance exploration.

Stay with us as we continue to report live from Quebec City.

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The American Ambassador to Canada, Pete Hoekstra, closed out the day, speaking to a packed room. Like many of today’s speakers, he emphasised the importance of partnerships, and the long history of cross-border collaboration between our two nations. As he said during an exclusive interview with Anthony Vaccaro of The Northern Miner, the United States is motivated to work with Canada, particularly on critical minerals. “Everything is on the table,” he said. “It’s very straightforward. We accept Canadian decisions.”

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Carrying on with highlights from part two of our corporate presentations and fireside chats.

• Salvatore Curcio of Stllr Gold Inc. spoke about the Tower, Colomac, and Hollinger projects, which have combined gold ounces of approximately 16M. He underscored that the company has an attractive entry point compound to large scale peers, has $40M in working capital, and strong shareholder support.
• Raul Alvarez of Orvana Minerals Corp. took us to Spain, Bolivia, and Argentina. He shared how the company’s production changes as gold and copper production is set to resume in Bolivia. His focus, however, was largely on the exploration program and results at the Taguas Project in the Andes of Argentina.
• We stayed in Argentina, and adding Portugal and Canada to the mix, when David Ball of Cerrado Gold joined the stage for a fireside chat. Cerrado is generating cash flow from its mine in Argentina. “It’s a nice little cash flow engine,” said Ball of the mine that will fuel construction of the company’s project in Portugal. Finally, he explained why Cerrado’s Quebec-based iron ore project is the company’s “jewel in the crown,” which benefits from proximity to infrastructure and high quality iron ore.
• Rana Vig of Blue Lagoon Resources brought us back to British Columbia, speaking on how the company has recently reached commercial production last month at the Dome Mountain Gold Mine. Starting from a small production profile with the potential to generate significant revenue that will fund the path to building a resource of 1M gold ounces. “We have cash flow, a clear path to a million ounces, and a district scale opportunity,” he said.

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Robin Kozar of Ventum Capital Markets returned to the stage to moderate a series of corporate presentations and fireside chats. Our first set of highlights include:

• A fireside chat with Dan Wilton of First Mining Gold, who reflected on coming through one of the toughest financing periods. At the end of 2027, though, the company will have two assets—the Springhole and the Duparquet Gold Projects—with a combined 12M ounces of gold at feasibility level. “It’s very exciting,” said Wilton.
• Darren Blasutti of Minera Alamos (soon to be Mining Americas) presented on how the company has been hitting an impressive array of milestones since acquiring the Pan Operating Complex in the last quarter of 2025. Pan is one of the four assets in the portfolio pipeline, which includes two brownfield and one greenfield site. Three of the four are permitted, and the company is aggressively moving toward realising its strategy of significantly increasing its production profile over the next few years.
• 2025 was a great year for Nexgold Mining Corp., whose stock was up over 300%. Orin Baranowsky spoke with Kozar about why Canada is a great place to look for assets to propel a company into becoming a mid tier gold producer. He also touched on a recurring theme of the day, how provincial governments like Nova Scotia, where Nexgold is operating, have finally recognised the importance of streamlining the permitting process.

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A former basketball player who played on the Indian national team, The Hon. Jagrup Brar, Minister of Mining and Critical Minerals for British Columbia shared how focused he is on execution and results, during a fireside chat with Anthony Vaccaro of The Northern Miner.

Brar highlighted how the province is reforming its permitting process, noting that one of the asks from the investment community is to bring stability and certainty to this key aspect for any exploration or development project. B.C. is the first province jurisdiction in the country to establish fixed timelines for exploration permits. As Sean Roosen spoke to earlier this afternoon, the province has also reduced permitting timelines for development projects by approximately 30% without compromising on environmental and safety standards.

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Shut up and drill stupid, or SUDS, is a mantra for Osisko Development’s Sean Roosen. And, as he shared in a earlier fireside chat with Surya Sankarasubramanian of Ventum Capital, he is sticking to it, building from 11 drills currently turning at the company’s Cariboo Gold Project to 25 by the end of the summer.

Roosen also gave a shout out to the B.C. government, noting Cariboo was permitted in just under five years, beating the Canadian average by about the same frame.

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After a wide ranging discussion on how the financing landscape has changed with rising metals prices [stay tuned for a summary], we turned to another series of investor presentations. Here is part one of highlight from this session moderated by Mary Zhang of at National Bank Capital Markets.

• Caroline Arsenault of Troilus Mining Corp. spoke about how the company’s generational scale asset in a tier one jurisdiction is closing in on a decade of development. The company announced this morning that it had achieved a key milestone—a 70MW block of power has been allocated to the project for life of mine: https://t.co/vRGejtsMAr
• Drew Clark of Summit Royalties shared how the company has built up a royalty portfolio in approximately a year, and how its assets are positioned to start compounding returns over the next three years.
• Darren Cooke of Firefly Metals distinguished the company’s Green Bay Copper Gold project from other projects by spotlighting its high grades and long intersections. Exploration results are pointing to a high grade, large scale copper mine, he said. As it’s a near term producer, the company is in a unique position to take advantage of emerging copper supply pressures.