Tim Moody of Pan Global Resources Inc. presents at Metals Investor Forum in Vancouver | Sep 2026
Metals Investor Forum Sep 25, 2026 11:53
Summary
Pan Global flagship southern Spain copper project anchors a 36Mt maiden resource, with metallurgy producing a premium concentrate that needs 40% fewer trucks than Atalaya operation.
A northern Spain gold find - 83m at 1.7 g/t and 15m at 3.9 g/t - opens a second project with 25 untested targets and no prior gold known in the area.
Tripling the southern land package through a public tender beat two major producers and unlocked 15 drill-ready targets near the La Romana deposit.
Over $10M cash and a 20,000m drill program funded into next year back a growth plan that drew a strategic investor onboard.
Analysts have price targets between $0.48 and $0.80 versus a roughly $0.21 share price, with no value yet assigned to the gold project.
Tim Moody's takeaways
- Top takeaway Argues Pan Global Resources is structurally undervalued at ~$0.21/share because the market is assigning almost no value to the new northern Spain gold discovery, and says that could change quickly as additional drill results arrive.
- Frames the investment thesis around Spain as a tier-one mining jurisdiction — the second-largest copper producer in Europe with ~3,500 years of continuous mining — where existing rail, road, power infrastructure and a Freeport-owned smelter 70 km away keep the ESCA Center project's capex needs low.
- Presents a scale-driven M&A angle: growing the ESCA Center resource from ~36 Mt to 100 Mt+ / 400,000 t of contained copper would shift the project from being a 'nice-to-have' for neighbouring majors to a 'must-have'.
- Cites the attraction of a strategic investor — partly driven by the discovery potential that led to the land-tender win — as external validation of the exploration thesis at both the southern copper project and the new northern gold discovery.