#104 Digging for Dollars #31 Galantas Gold Raised $100M For A World-Class Restart
CEO.CA Jun 25, 2026 40:55
Summary
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.
Key points on Omai Gold Mines Corp
- The host says he took Omai public and knows Guyana well, which is what drew his attention to the Guyana asset in the stock pitch.
- He says Omai was his first pitch on the show's Dig This Deal segment last year and that it has done very well for him since.
Eric Sprott's takeaways
- Top takeaway Sprott invested in Galantas and now owns 19.9% of the company, which the guest cites as one reason investors should watch the stock.
Mario Stifano's takeaways
- 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.