Mario Stifano

Galantas Gold: Permitted and Fully Funded for Q1 2027 Gold Production

• Top takeaway He argues the Andacollo brownfield restart is fully permitted, in execution mode, and on track for first gold in Q1 2027, moving quickly to capture gold prices he puts at $4,400-plus as of the interview.
• He believes Indiana is a 2-3 million ounce deposit and that the unexpected disseminated-style mineralization opens a whole new exploration front, which is what justified doubling the drill program to 12,500 meters.
• He pushes a consolidation thesis with Teck's neighboring copper ground, hoping the combined billion-tonne porphyry system ends up under Galantas rather than Teck, with a heavily caveated estimate that 200-300 million tonnes of otherwise unmineable resources could be added.
• He sees the gold price continuing to rise and considers Galantas cheap relative to its in-ground ounces and what it will be producing over the next 12 months to five years.
• He points to about $100 million raised this year and a recent 91-million-share cross that brought in a strategic shareholder, telling prospective investors they have to buy in the market.

A fully permitted brownfield restart (rebuilding a previously mined site) gives Galantas a faster, cheaper path to first gold in Q1 2027. Management argues 0.5 g/t heap leach grades (gold recovered by stacking ore and dripping solution) become highly profitable at today's $4,400 gold. A 20,000 tonne per day crushing plant sourced from Mexico completes the restart; preliminary economic assessments (PEA) for both Chilean projects come before year-end. Indiana's drill program doubled to 12,500 metres after hitting projected veins and uncovering disseminated mineralization nobody anticipated (fine-grained metal spread through rock). The CEO argues a combination with Teck's adjacent copper mine could unlock 200 to 300 million tonnes of resources neither can currently mine.

#104 Digging for Dollars #31 Galantas Gold Raised $100M For A World-Class Restart

• Top takeaway The host argues copper is the place to be alongside gold, saying he likes porphyry systems and would back an undrilled copper target sitting in the middle of majors' ground.
• He reveals his own pick as Lighthouse Gold and says he digs it blind, meaning he would buy it without further drilling, while noting he is not on the board.
• He ranks junior miners by their names: S tier for companies with 'Discovery' in the name, A for 'metals and mining' names, B for royalty and stream companies, C for random-noun-plus-metal names, D for companies ending in 'Exploration' which he puts at an average $5M market cap, and unranked for generic, tech-style names.
• He urges the audience to watch Galantas, calling the shift to a fully financed producer a rare transformation and saying he wants the company back on the show in a couple of months for updates.

Galantas closed a $100 million raise, says it is fully funded, and plans to restart Chile's Andacollo gold mine next year for about $60 million. The guest targets 50,000 to 70,000 ounces next year and 90,000 by 2028, with all-in costs near $1,500 an ounce. Royal Gold's stream on Teck takes all gold until 900,000 ounces, which the guest says made the deposit uneconomic to buy. Indiana's 29 identified veins and IOCG (iron-oxide copper-gold) geology leave room for tonnage well beyond today's five million tonnes. Host's junior tier list hands royalty names a B, while 'metals and mining' or 'discovery' names earn an A and an S.