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Overview
Canadian Critical Minerals (TSXV:CCMI,OTCQB:RIINF) is a mineral exploration company with two advanced copper projects in tier 1 mining jurisdictions in Canada. The main project is the 100 percent owned Bull River Mine near Cranbrook, British Columbia, which has a mineral resource containing 135 million pounds (Mlbs) copper. CCMI also owns a 34 percent interest in the Thierry mine at Pickle Lake, Ontario, which has a mineral resource base containing 1.3 billion pounds (Blbs) copper, along with other metals, including nickel, silver, palladium, platinum and gold.
The near-term focus is restarting the Bull River mine and returning it to production. The project is currently under care and maintenance. CCMI is in the process of securing permits to restart the mine at its designed capacity of 700 tons per day (tpd). In the meantime, CCMI has begun selling pre-concentrated copper, gold and silver ore from the surface stockpiles at Bull River through an ore purchase agreement with New Afton. In April 2024, the company transported 362 wet metric tons (wmt) of mineralized material to New Afton and received a payment of US$72,445 for the shipment. The sale of stockpiles should provide near-term cash flow, which will be used to restart the Bull River mine. The current stockpile at Bull River is estimated at 180,000 tons (or 6.14 Mlbs copper equivalent) valued at approximately C$30 million.
Bull River Mine
The outlook for copper remains bullish. The transition towards green energy, electric vehicles and artificial intelligence (AI) are driving demand, causing the price of this industrial metal to surge towards a new record high. S&P Global estimates copper demand to double by 2035 to 50 million metric tons. On the other hand, supply is estimated to touch 30 million metric tons by 2036, according to Statista. This clearly implies a shortfall that is likely to support prices in the long term.
Canadian Critical Minerals offers several unique value propositions which make it attractive for investors looking to participate in the copper market. It has an assured revenue stream for the next 15 to 18 months from the sale of stockpiles to New Afton. It is working to secure permits to get the Bull River mine back into production. Bull River is a fully developed underground mine which can be restarted with minimal capital expenditure. Additionally, a 34 percent stake in the Thierry mine offers optionality to investors to participate in any exploration and development success of the project.
Company Highlights
- Canadian Critical Minerals is a Canada-based exploration and development company focused on the battery and critical minerals space.
- Two advanced Copper projects in Canada – the 100 percent owned Bull River mine in British Columbia and a 30 percent interest in the Thierry mine in Ontario which is owned by Cuprum Corp.
- Focused on restarting the past-producing Bull River mine, currently under care and maintenance.
- The mine has a current surface stockpile, which is generating revenue for the company, estimated at 180,000 tons (or 6.14 Mlb copper equivalent), valued at ~C$30 million.
- The Thierry Project is a past-producing copper and nickel mine with excellent infrastructure and year-round access. The current mineral resource estimate indicates 1.3 billion pounds of copper.
- Thierry mine has a PEA study indicating after-tax NPV @6 percent of C$488 million with an IRR of 36 percent.
- Given its 34 percent interest in Thierry mine, CCMI can benefit from any positive assay results from the drilling program at Thierry mine completed last year and future exploration.
- Copper remains in a long-term secular bull market. The demand for copper is forecast to exceed the current supply. CCMI, with its two advanced copper projects, is well positioned to benefit from future growth opportunities.
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Investor Insight
Goldgroup offers investors a rare opportunity to participate in the rapid buildout of a multi-asset gold producer in Mexico, with near-term production growth at the operating Cerro Prieto mine and the addition of two fully owned, high-impact assets – Pinos and San Francisco – positioning the company for substantial scale, re-rating potential and strong leverage to gold.
Overview
Goldgroup Mining (TSXV:GGA,OTC:GGAZF) is a Canadian gold company building a portfolio of high-quality producing and development assets across Mexico, one of the world’s premier mining jurisdictions. With two 100 percent owned gold projects – Cerro Prieto and Pinos – and the acquisition of 100 percent of the San Francisco mine, Goldgroup is positioned for rapid, disciplined production growth.
The company’s strategy is straightforward: optimize and expand production at its flagship Cerro Prieto mine, advance Pinos toward a production decision, and bring the large-scale San Francisco mine back online. Combined, these projects outline a defined path to more than 100,000 ounces of annual production, with further upside from exploration, resource expansion and future acquisitions.
Goldgroup is guided by an experienced leadership team with deep expertise in building and optimizing mines in Mexico. The company benefits from strong financial support from the Calu Group and founders of Luca Mining, with proven track records of value creation through mine development, operational turnarounds and strategic M&A.
Company Highlights
- Two operating or near-term production gold assets in Mexico, 100-percent-owned and fully permitted.
- Cerro Prieto expansion completed, increasing from ~12,500 oz/year to 30,000+ oz/year during 2026 and beyond, including tailings re-processing.
- Its second asset, Pinos, is a fully permitted high-grade underground development project with historical resources and +90 percent metallurgical recoveries.
- San Francisco acquisition in progress, a past producer capable of ~40,000 oz/year with significant exploration upside.
- Aggressive M&A strategy aimed at fast-tracking Goldgroup into the mid-tier producer category with advanced due diligence nearing completion. .
- Backed by the Calu Group and the founders of Luca Mining, bringing extensive operational and financing expertise in Mexico.
Key Projects
Cerro Prieto Open Pit Gold Mine
Cerro Prieto is Goldgroup’s established producing operation in the Cucurpe mining district of Sonora, Mexico. It’s been in production since 2013 and is augmented by a newly expanded processing capacity that has more than doubled throughput. The mine is the cornerstone of Goldgroup’s near-term growth strategy, with ongoing optimization, a planned tailings re-processing and re-leaching initiative, and multiple drill-ready targets across the property. An updated NI 43-101 resource estimate for the Esperanzas deposit further reinforces the reliability of the mineralized system while underscoring the potential for continued resource growth.
Project Highlights
- Producing open-pit gold mine in Sonora with 120,000+ ounces produced since 2013
- Throughput recently doubled to 4,200+ tons per day (tpd) with installation of a second crushing circuit
- Tailings re-leaching strategy expected to add up to 9,000 oz/year over ~5 years
- Expansion plan targeting 30,000+ ounces of annual production
- Updated NI 43-101 outlines 37,209 oz measured and indicated, and 1,504 oz inferred gold resources
- Multiple exploration targets across the property, including Esperanza, Nueva Esperanza and additional zones all under definition drilling.
Pinos Gold Development Project
Pinos is a fully permitted, advanced-stage underground gold project positioned within the prolific Zacatecas mining belt. The district hosts 29 concessions over 3,816 hectares, with 52 shafts and more than 40 km of underground workings. Goldgroup’s internal roadmap outlines 12,700 oz/year of potential annual production from Pinos in a development scenario.
Project Highlights:
- Multiple high-grade veins historically mined at 30 to 50 g/t gold
- Historical measured and indicated estimate: 86,000 oz gold and 1.3 Moz silver (Candelaria Mining, 2018). Note: Historical resource only; not treated as current NI 43-101
- Metallurgical recovery of +90 percent gold via cyanide leaching and Merrill-Crowe
- Fully permitted for mine construction
Goldgroup plans to launch targeted exploration and resource-definition drilling at Pinos, followed by an updated economic study (PEA or PFS) that will guide a production decision for this fully permitted high-grade project.
San Francisco Open Pit Gold Mine
The San Francisco mine is a past-producing, large-scale open-pit gold operation in Sonora with extensive existing infrastructure and significant resource and exploration upside. Goldgroup has acquired the majority of creditor debt connected to the mine, enabling it to control the restructuring process and advance toward full ownership pending final court approval. With historical production of approximately 1.3 million ounces and strong metallurgical recoveries, San Francisco presents a near-term opportunity for Goldgroup to restore a proven gold mine to production and add meaningful scale to its growth profile.
Project Highlights:
- Large-scale past producer with ~1.3 million ounces of gold produced from 2010 to 2019
- Strong existing infrastructure: grid power, wells, ADR plants, assay lab, haul roads
- High processing capacity of 16,875 tpd via two parallel crushing circuits
- Good metallurgical recoveries ranging from 77 percent to 90 percent
- Multiple new high-grade zones identified behind and below pit walls
- Restart plan underway, including drilling to upgrade resources and update the mine plan
Management Team
Ralph Shearing – Chief Executive Officer
A professional geologist with nearly four decades of experience in mining and exploration, Ralph Shearing founded and led Luca Mining Corp, where he oversaw major development milestones such as the exploration, initial development construction and pre-production of the Tahuehueto gold mine, the acquisition and successful restart of production of the Campo Morado zinc poly-metalic mine in Mexico.
Anthony Balic – Chief Financial Officer & Director
Previously the director of finance for Goldgroup, Anthony Balic has extensive experience in mining finance, including senior roles at Deloitte LLP specializing in assurance and advisory for mining companies. He oversees corporate finance, accounting and capital strategy for Goldgroup.
Corry Silbernagel – Director
Corry Silbernagel is a veteran financial and technical specialist with experience across mining and energy. He is the former CFO of Cabo Drilling and project manager for large-scale initiatives at Suncor and TransAlta. Silbernagel brings expertise in strategic finance, project development and operational oversight.
Blair Jordan – Director
Blair Jordan is managing partner at Restructure Advisors, with deep experience in corporate restructuring, turnaround strategies and investment banking. He held CFO and interim CEO roles in multiple public companies, and is the former managing director at Echelon Wealth Partners.
Roberto Guzman – Director
Roberto Guzman is a finance leader with more than 25 years of experience in Mexico’s financial sector. Jordan holds an advanced degree in finance from Universidad Tecnologica de Mexico and has served as finance manager for numerous public and private Mexican companies.
Investor Insight
Sankamap Metals offers exposure to new copper–gold discovery potential in one of the last underexplored regions of the Ring of Fire, with two fully owned, drill-ready assets positioned along a world-class mineral belt.
Company Highlights
- Two 100 percent owned copper and gold properties – Kuma and Fauro – within a highly prospective copper-gold trend in the Solomon Islands.
- Drill-ready targets supported by strong historical sampling, including grab samples up to 11.7 percent copper, 13.5 grams per ton (g/t) gold at Kuma, and 173 g/t gold; plus, drill intercepts of 35 m at 2.08 g/t gold at Fauro.
- Strategically located along the same mineral belt as major deposits, including Newmont’s 71.9 Moz Lihir gold mine.
- Underexplored mining-friendly jurisdiction with strong government support and established local workforce.
- Large-scale system potential, including a km-scale copper-gold anomaly at Kuma and multiple high-grade epithermal and porphyry-style targets at Fauro.
- Inaugural drilling at Kuma, scheduled to begin in January 2026, marking a major catalyst for the project.
- Strong technical leadership, with a management team that has collectively raised over $1 billion and delivered significant shareholder returns.
Overview
Sankamap Metals (CSE:SCU) is a Canadian exploration company advancing the Oceania Project, a high-impact copper–gold opportunity in the mineral-rich South Pacific. The project includes two fully permitted properties - Kuma and Fauro - in the Solomon Islands, one of the last untapped frontiers of the Pacific Ring of Fire.
The company’s land package is strategically positioned near world-class deposits, such as Newmont Mining’s 71.9 Moz Lihir gold mine and Bougainville Copper’s historic Panguna deposit with 19.3 Moz gold and 5.3 Mt copper resources.
CEO John Florek investigating mineralized outcrop at Kuma property during the summer site visit
Kuma and Fauro are 100 percent owned and drill-ready. Both assets benefit from compelling historical sampling, large-scale geophysical anomalies, and district-scale geological characteristics that support the potential for major porphyry and epithermal systems.
The company focuses on systematic exploration, delineating high-priority drill targets to unlock discovery opportunities. With strong national support for mining and a leadership team deeply experienced in major global jurisdictions, Sankamap is well positioned to generate early and meaningful shareholder value as exploration advances.
Key Properties
Kuma Property
The Kuma property spans 43 sq km and lies 37 km southeast of Honiara on Guadalcanal Island. The property is considered a highly compelling drill-ready porphyry target. Historical sampling returned values up to 11.7 percent copper and 13.5 g/t gold, accompanied by a kilometre-scale copper-gold geochemical anomaly. Airborne geophysical surveys, including mobile magnetotelluric (MT), reveal resistive and conductive features consistent with porphyry, epithermal and skarn-style mineral systems.
Kuma benefits from year-round access and proximity to the Gold Ridge mine. Lidar, surface geochemistry, and geophysics surveys have advanced target definition toward a 2026 drill program. Alteration mapping defined a 2 km lithocap, indicating a potential significant porphyry below that’s not yet tested by drilling.
Kuma is positioned for discovery potential on a scale comparable to other major systems in the region.
Current work at Kuma is focused on refining priority drill targets through ongoing analysis of newly released geophysical and geological datasets. A field visit in November was aimed at ground-truthing these targets, confirming interpretations, and finalizing on-the-ground logistics. Pad and camp construction began in late November, ahead of the inaugural drilling campaign set for January 2026, an important milestone in advancing the Kuma property toward discovery.
Fauro Property
The 147 sq km Fauro property encompasses a high-grade epithermal gold target with indications of a porphyry system at depth. Formed by the collapse of the Fauro calc-alkaline volcano, the property hosts seven prospects, three of which are drill-ready. Historical results include a grab sample of 173 g/t gold, trench results of 8 m at 27.95 g/t gold, and drilling intercepts such as 35 m at 2.08 g/t gold. Multiple zones, including Meriguna, Ballyorlo and Kiovakase, exhibit robust soil anomalies and magnetic highs, underscoring the property’s potential to host a large-scale deposit comparable in setting to the Lihir gold system.
Since 2024, new sampling has confirmed continued high-grade potential, with assays returning up to 19.25 g/t gold and up to 4 percent copper, expanding evidence for a hybrid epithermal-porphyry system. With year-round drilling access and efficient transport via helicopter and boat, Fauro represents a major exploration opportunity with multiple existing gold intercepts and untested porphyry indicators.
Management Team
John Florek – Chief Executive Officer
John Florek has more than 35 years of experience with major and junior mining companies, including BHP, Placer Dome, Barrick, Teck, and Detour Gold/Kirkland Lake Gold/Agnico Eagle. He has identified and advanced significant mining assets from early exploration through development and currently sits on the board of McEwen Mining. He is also CEO, president and director of Emperor Metals.
John Williamson – Chairman, Co-founder and Director
A professional geologist with more than 35 years in the global mining sector, John Williamson founded more than 20 successful companies and the Metals Group. He has raised more than $1 billion across public and private markets, delivering strong returns to shareholders.
Sean Mager – CFO and Director
With 30+ years in the global mining sector, Sean Mager brings extensive experience in corporate development, stakeholder relations, regulatory affairs, finance and operations. He is a co-founder of the Metals Group.
Krystle Adair – Vice-president, Exploration
A geologist with more than 13 years of exploration experience across the Americas, Krystle Adair has managed projects across multiple deposit types. She has worked extensively with Metals Group companies and is a registered professional geoscientist in British Columbia.
Hannett – Director
A Bougainville Island national and professional engineer with 17+ years of experience, Arthur Hannett has worked with major operators including Placer Dome, Barrick, Glencore and Agnico Eagle.
Donald Marahare – Director
A seasoned legal professional with 20+ years of experience in the Solomon Islands, Donald Marahare is the principal at DNS & Partners Law Firm, admitted to the High Court in 2000. He also serves as president of the Solomon Islands Football Federation.