Javier Reyes de la Campa
Chairman & CEO | Goldgroup Mining Inc. (NYSE American: GORO) | Mexico-focused gold and silver producer
"Leading Goldgroup Mining's merger-driven build-out into a multi-asset Mexican gold and silver producer"
Biography
Javier Reyes de la Campa is Chairman and CEO of Goldgroup Mining Inc. (TSX-V and NYSE American: GORO), a Mexico-focused gold and silver producer. The company runs two producing mines — the underground Don David Gold Mine in Oaxaca and the open-pit Cerro Prieto heap-leach mine in Sonora (heap-leaching recovers gold by stacking crushed ore and percolating solution through it) — and is advancing the past-producing San Francisco mine in Sonora toward a restart and the Back Forty project in Michigan toward development. Reyes took the company through its defining transaction of 2026: a combination with Gold Resource Corporation, valued at roughly US$372 million, that closed in July 2026 and put Goldgroup on the NYSE American under the GORO ticker. He joined the combined board as Chair at closing and ten days later added the CEO role.
His record is in financing and fixing resource companies rather than in exploration geology. Goldgroup credits his leadership as a key to the 2020 turnaround of the Mexican producer now known as Luca Mining (TSX: LUCA), which later earned a spot on the 2025 TSX Venture 50 list of top-performing venture-listed companies. He has served Goldgroup as Country Manager since September 2021; before that he was President and CEO of Antares Capital Management and Private Equity CP (formerly Credipresto), Mexican firms with more than 15 years in natural resources and agriculture across Latin America, and he has co-founded companies in finance, mining, oil and gas, and agriculture. He holds dual bachelor's degrees in economics and business administration, a Master's in Finance from ITAM (Instituto Tecnológico Autónomo de México), and is a Harvard Business School alumnus.
His approach is consolidation and turnaround: take control of assets that stalled for financial rather than geological reasons, recapitalize the balance sheet, and rebuild production. Goldgroup gained 100% of the San Francisco mine by acquiring the majority of creditors' rights in the restructuring of its operator, Molimentales del Noroeste, then launched a 26,000-metre drilling campaign to support the restart case. The Gold Resource Corporation combination added a second producing mine and Back Forty; a private placement upsized to roughly US$125 million in September 2026, on top of about US$46 million in cash and no debt, funds mine optimization and further acquisitions, with longstanding resource investor Eric Sprott among the company's larger shareholders. Reyes has framed his priorities as safely optimizing Don David, restarting San Francisco, expanding Cerro Prieto, and advancing Back Forty.
For investors, Goldgroup under Reyes is a test of post-merger execution in Mexican precious metals: whether two producing mines, a restart, and a development project can be combined into a company producing more than 250,000 gold-equivalent ounces (AuEq — total metal output expressed as the gold value of all metals produced) a year. His public comments stress optionality and disciplined capital allocation — larger production, longer mine lives, stronger margins — over headline claims. Quarterly Don David results, San Francisco restart and drill news, and Back Forty permitting are the clearest markers of whether that plan stays on track.
Videos (2)
Goldgroup Mining ($GORO): Building a Multi-Asset Gold and Silver Producer
- Top takeaway TOP: Frames Gold Group's strategy as acquiring underperforming but fully permitted, already-built Mexican assets and turning them around with strong in-country teams rather than outside CEOs who don't understand Mexico.
- San Francisco (Sonora) hosts roughly 1 million ounces at ~0.65 g/t with a potential 10-year mine life and 50,000 oz/year at ~US$2,000/oz margin; capex to restart is ~US$25M with a target restart by end of Q1 next year.
- Don David mine (from the Gold Resource merger) is now cash-flowing monthly after a roughly $25 million investment that retired vendor debt and stabilized operations; the team is now expanding into new areas like Margarita and El Ray.
- The Back 40 Michigan project has an estimated almost-US$1 billion NPV at current prices and is in an ~18-month permitting process; the company has shifted the design from open-pit to underground to reduce permitting friction.
- Argues the recent Agnico/Teck JV Greenfield open-pit permit in Zacatecas is a clear signal that Mexico is open for mining again under the new administration, helped by team member Felipe Medina.
Goldgroup's $15M acquisition of Gold Resource Corp added the Don David silver-gold mine, transforming a single-asset producer into a multi-asset Mexican platform. A 26,000-meter drill program at San Francisco targets resource expansion; restart capital is roughly $25M with a target output of about 50,000 ounces a year. Goldgroup is advancing the Back 40 copper-gold project in Michigan but cites an 18-month permitting risk in a Democratic-leaning state. Eric Sprott, Cala, and other insiders control roughly 70% of the float, sharply limiting the risk of a lowball takeover. Forced Russell 2000 selling after a 15-day inclusion window wiped out half the market cap — a mechanical dip that disciplined investors exploited.
Javier Reyes, Head of Luca Mining Corp. | Rule Symposium 2026: Rick Rule interviews
Luca Mining is now self-funding: it ended 2025 with roughly $25 million cash and cut debt from $60 million to about $1 million. The guest explains the model: buy fully permitted, underperforming Mexican assets cheaply, fix community and capital problems, then repeat the process. Its two Mexican operations hold close to 4 million combined gold-equivalent ounces (all metals valued as gold), with drilling at full speed on both. Q1 2026 added $10 million cash and over 15,000 gold-equivalent ounces; management targets 100,000, then 250,000 ounces via acquisitions. The guest argues Mexico is fast becoming a safer, top-ranked mining jurisdiction, and Luca is acquiring assets before that becomes widely recognized.
Key Quotes
"We believe Goldgroup is at an inflection point."
— Goldgroup Mining press release on upsized US$125 million private placement, September 14, 2026
"One of the most important advantages of this financing is that it gives Goldgroup optionality."
— Goldgroup Mining US$125 million private placement announcement, September 2026
"Goldgroup enters this next chapter from a position of strength. We have a diversified portfolio of producing operations."
— Goldgroup Mining leadership transition press release, July 27, 2026
Key Works
Announces the July 2026 merger that created the multi-asset Mexico-focused producer now trading on NYSE American as GORO, with Reyes de la Campa on the combined board.
Release in which Reyes de la Campa, as Board Chair, was appointed Interim CEO and set the operating priorities for the combined company.
Financing announcement led by Reyes de la Campa to fund mine optimization, the San Francisco restart path, and further mining-sector M&A.
Specializations
Disclaimer: Javier Reyes de la Campa has NOT endorsed this platform and is not affiliated with Pixys in any way.