Axo Metals Targets First Gold on the Pad in Late 2027

Mining Network Oct 2, 2026 14:25

Summary

A roughly C$7 million all-stock purchase handed Axo Metals a permitted past-producing gold site that is already about 70% built.

The guest says permitting, not geology, stalled the project: he got SEMARNAT approval in six months, versus one to one-and-a-half years typical.

Engineering finishes in 2026, construction starts early 2027, and first gold is stacked on the pad in late 2027.

Step-out drilling 800 metres beyond the resource cut 47 metres of oxide at 1.4 g/t gold, and oxide growth is the cheapest path.

A PEA lands early 2027; the guest expects debt funding for a build in the tens of millions, with oxide gold self-funding a later mill.

The guest lists GoGold among three group companies, with Silver Tiger and Axo Metals, that have each had a project permit approved within the last ten months, and cites that record as the group's Mexico permitting expertise.

The guest cites Silver Tiger as the first of three group companies to have had a permit approved within the last ten months, ahead of GoGold and Axo Metals.

Top takeaway Egilo argues Axo Metals' competitive advantage is Mexico permitting execution, the ability to buy stalled but high-quality projects and unblock them; he notes all three group companies have received permits in the last ten months.
He frames the San Antonio deal as resurfacing value in an asset that simply needed a change of hands, structured all-stock so Osisko Gold Group participates in the restart rather than cashing out.
He claims a six-month permitting timeline against the one to one-and-a-half year norm most developers plan around, which lets Axo run engineering early and shortens the overall schedule to construction.
He argues the initial oxide phase of roughly 40,000-50,000 ounces a year should generate enough early cash flow to self-fund the later sulphide mill and lift production to 100,000 ounces a year or more.
He is measured on sulphide metallurgy, saying existing studies point to about 90% recovery in a standard agitated leach but that flotation has not been tested yet and remains an optimisation avenue.