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Generation Mining

Copper developer, with a project stated to be in Northwestern Ontario.

Ontario · Canada — as stated on the recordings

developer copper Ontario, Canada
Jun 2026 → Jun 2026Covered
7 of 10Topics on record
2Figures tracked over time
2 executivesNamed on the record
Generate Claims & Checks What management and commentators said, and what still needs independent verification 2 interviews with the company · 2 independent recordings
Stage
Developer
Primary commodity
Copper
Jurisdiction
Northwestern Ontario
Deposit
copper, palladium, platinum, gold, and silver
Latest appearance
30 Jun 2026
On record
2 interviews · 30 statements · 2 executives

At a glance

What the record holds today. Every card names where it came from — a management representation is not an established fact, and the page never blurs the two.

What is in the ground
about 130 million tons for 13 years
Management-stated Jamie Levy Jun 2026
Grade
40-ish million pounds or 50 million pounds in the first couple years of copper
Management-stated Jamie Levy Jun 2026
Money on hand
35 million in the bank
Stated capital need: 10 million tons a year, 280 million dollars OPEX per year
Management-stated Jamie Levy Jun 2026
What happens next
fall 2026
Management-stated Kerry Knoll Jun 2026
The main open question
The company still needs to raise "a little bit more equity" on top of ~$1B committed (fact 16), and capex is substantial at $700M USD with construction now pushed to fall 2026 rather than the originally stated September 2025 start (facts…
Weighed from the statements below, not our opinion of the company.
Our reading
How outsiders read it
2 independent voices on record — 2 neutral
Nick Smart, Mark Selby
Outside voices

How the stated figures have moved

The same figure, as management put it on the earliest and the latest recording we hold. A difference may be a genuine update, a different measure of the same thing (total against indicated), or a mis-heard number — both quotes are here, and both recordings are one click away.

Capex just over 700 million10 million tons ● Lower Same basis, restated 3 days apart 2 statements on record
27 Jun 2026
just over 700 million USD, just under a billion dollars Canadian
“the CapEx is just over 700 million. Of 700 million USD, it's just uh under a billion dollars Canadian”
30 Jun 2026
10 million tons a year, 280 million dollars OPEX per year
“we're looking at 10 million tons a year. So, simple numbers, 20 280 million dollars in OPEX per year”
Capital needed just over 700 million$200 million ≠ Different basis One statement qualifies the figure and the other does not (capex, debt) 3 statements on record
27 Jun 2026
just over 700 million USD capex
“the CapEx is just over 700 million”
30 Jun 2026
$200 million subordinated debt commitment from Canada Infrastructure Bank
“Generation Mining, just secured a major $200 million subordinated debt commitment from the Canada Infrastructure Bank”

Management view vs outside view

Management interviews are promotional by nature; the outside view is the counterweight. Both are quoted from the recordings, not added by us.

What management spends its time on

Counted from Generation Mining's own claims across 2 interviews — most-covered theme first.

What outside voices pick up on

2 independent voices — people who do not speak for the company — across 2 mentions.

2 neutral
  • Nick Smart “Peer comparison — ~3M oz PGE project in Ontario, ~$100-200M market cap; used to benchmark ValOre's relative undervaluation”
  • Mark Selby “Raised $30M for platinum-copper project in Ontario; ready-to-go project.”

Bull · Bear · Watch next

Weighed from the statements on this page — management's pitch and the outside view. Not financial advice, and not our opinion of the company.

▲ Bull case

Management says the Marathon project has already secured roughly $1 billion in committed financing (Wheaton $240M, senior bank debt $310M USD, CIB $200M), permits are complete (May 2025), and the economics are strong: $1B+ NPV and 28% IRR…

What it rests on
Evidence: 3 moments from 1 interview
Read the full case

Management says the Marathon project has already secured roughly $1 billion in committed financing (Wheaton $240M, senior bank debt $310M USD, CIB $200M), permits are complete (May 2025), and the economics are strong: $1B+ NPV and 28% IRR at conservative 3-year trailing prices. An adjacent Ontario platinum-copper project recently raised $30M and is described as ready-to-go, suggesting market appetite for this jurisdiction and asset class.

▼ Bear case

The company still needs to raise "a little bit more equity" on top of ~$1B committed (fact 16), and capex is substantial at $700M USD with construction now pushed to fall 2026 rather than the originally stated September 2025 start (facts…

What it rests on
Evidence: 3 moments from 1 interview
Read the full case

The company still needs to raise "a little bit more equity" on top of ~$1B committed (fact 16), and capex is substantial at $700M USD with construction now pushed to fall 2026 rather than the originally stated September 2025 start (facts 2, 11). The reserve life is only 13 years with declining upside after year 14, and the mine depends heavily on palladium and platinum pricing—though management argues it survives at $1,000 palladium, spot prices underpin the most bullish returns (42% IRR vs. 28% baseline).

◆ Watch next

Permitting is complete as of May 2025 (fact 23).

What it rests on
Evidence: 2 moments from 2 interviews
Read the full case

Permitting is complete as of May 2025 (fact 23). The concrete catalysts are FID announcement (fully financed package, fact 12), final equity raise closure, and construction start in fall 2026 (fact 2). Monitor whether the company meets the September 2025 versus fall 2026 timeline and whether additional equity is small or material to overall funding.

Each moment links to the exact point in the source recording. The cases are drawn from the transcripts, weighed as written — they are not a rating, a target or a recommendation.

Project 12 statements

The deposit 6

Key takeaway. In June 2026 management described the deposit as a polymetallic asset containing palladium, copper, gold, silver, and platinum.

Read the full summary

They reported a resource of upwards of 250 million tons and a reserve of about 130 million tons, which they said supports a 13-year mine life. On grade, they pointed to roughly 40 to 50 million pounds of copper in the first couple of years, and noted that the project was acquired for six million dollars, highlighting exploration upside.

What was actually said
deposit type
copper, palladium, platinum, gold, and silver
“what it's going to take for Generation Mining to start pouring copper, palladium, platinum, gold, and silver”
Kerry Knoll· 30 Jun 2026·
exploration upside
acquired project for six million dollars
“I think we paid six million dollars for this project in generation mining the Marathon project”
Kerry Knoll· 30 Jun 2026·
deposit type
polymetallic: palladium, copper, gold, silver, platinum
“we basically have five revenue-generating metals that we're getting paid for. Uh copper, which is about 47% of the revenue today”
Jamie Levy· 27 Jun 2026·
Show the other 3 statements
grade
40-ish million pounds or 50 million pounds in the first couple years of copper
“20,000 tons or 40-ish million pounds or 50 million pounds in the first couple years”
Jamie Levy· 27 Jun 2026·
reserve size
about 130 million tons for 13 years
“the reserves are for 13 years, Um which at year 14, basically your MPV is zero... the reserves right now, which is about 130 million tons”
Jamie Levy· 27 Jun 2026·
resource size
upwards of 250 million tons of resources
“There's upwards of 250 million tons of uh of of resources right now”
Jamie Levy· 27 Jun 2026·

Jurisdiction 5

Key takeaway. Generation Mining reports that its project is located in Canada, in the Marathon area of Northwestern Ontario.

Read the full summary

Management states that all permits were completed in May of 2025, and that the company has an agreement with Biigtigong Nishnaabeg and the town of Marathon, which it describes as supportive.

What was actually said
region
Northwestern Ontario
“their Marathon copper palladium project in Northwestern Ontario”
Kerry Knoll· 30 Jun 2026·
community agreement
agreement with Biigtigong Nishnaabeg and town of Marathon supportive
“we got an agreement with Biigtigong Nishnaabeg and we have the town of Marathon, which is very very supportive of this project”
Jamie Levy· 27 Jun 2026·
country
Canada
“we're working through our project financing and looking to build the next critical metal project in Ontario Canada”
Jamie Levy· 27 Jun 2026·
Show the other 2 statements
permit status
all permits completed May of 2025
“we got all of our permits completed May of 2025”
Jamie Levy· 27 Jun 2026·
region
Ontario, Marathon area
“we're within I guess 10 km from the town of Marathon, Trans-Canada Highway”
Jamie Levy· 27 Jun 2026·

Technical risk 1

What was actually said
key assumption
mine remains robust even if palladium goes back down to $1,000
“even if palladium were to go back down to $1,000, this mine is still very robust”
Kerry Knoll· 30 Jun 2026·

Economics 13 statements

Economics 8

Key takeaway. In a June 2026 interview, management of Generation Mining outlined the project economics for their Marathon deposit.

Read the full summary

They reported a capital expenditure of just over 700 million USD (just under a billion dollars Canadian) for a 10-million-ton-per-year operation, with annual operating costs of 280 million dollars, translating to $28 per ton. On the revenue side, they cited copper revenue of 380 million Canadian dollars and palladium plus platinum revenue of 350-plus million dollars, with gold and 22% of platinum priced under Wheaton stream terms at 3-year trailing averages. The company said the after-tax NPV comes to just over a billion dollars at those trailing averages and well over $2 billion at spot prices, with an after-tax IRR of 28% at baseline and 42% at spot, and a payback period of 1.9 years at baseline versus 1.3 years at spot prices.

What was actually said
capex
10 million tons a year, 280 million dollars OPEX per year
“we're looking at 10 million tons a year. So, simple numbers, 20 280 million dollars in OPEX per year”
Kerry Knoll· 30 Jun 2026·
operating cost
$28 per ton
“our cost per ton is $28”
Kerry Knoll· 30 Jun 2026·
price assumption
copper revenue 380 million Canadian dollars, palladium and platinum 350 plus million
“Our copper at today's price, the revenue will be 380 million Canadian dollars. Another 350 plus million off the palladium and platinum”
Kerry Knoll· 30 Jun 2026·
Show the other 5 statements
capex
just over 700 million USD, just under a billion dollars Canadian
“the CapEx is just over 700 million. Of 700 million USD, it's just uh under a billion dollars Canadian”
Jamie Levy· 27 Jun 2026·
irr
28% after-tax at 3-year trailing average; 42% at spot prices
“our after-tax IRR on the the headline number uh the feasibility 3-year trailing average is a 28% IRR. Spot prices, 42%”
Jamie Levy· 27 Jun 2026·
npv
just over a billion dollars at 3-year trailing averages; well over $2 billion at spot prices
“we had a MPV using 3-year trailing averages of just over a billion dollars MPV. At spot prices, which was based from at the end of last year, we're well over $2 billion”
Jamie Levy· 27 Jun 2026·
payback
1.9 years at baseline; 1.3 years at spot prices
“a really short payback of 1.9 years at the baseline, and then spot prices, 1.3 years”
Jamie Levy· 27 Jun 2026·
price assumption
Wheaton stream terms: gold and 22% of platinum at 3-year trailing averages
“for to streaming uh the gold and 22% of the platinum”
Jamie Levy· 27 Jun 2026·

Financing 5

Key takeaway. Management reports that about a billion dollars in project financing is now committed for the Marathon project's just over 700 million USD capex.

Read the full summary

The financing package includes a $240 million Wheaton precious metals stream, $310 million USD ($424 million CAD) in approved senior bank debt, and a $200 million subordinated debt commitment from the Canada Infrastructure Bank (all June 2026). The company adds that a little bit more equity still needs to be raised, and that it currently has $35 million in the bank.

What was actually said
capital needed
$200 million subordinated debt commitment from Canada Infrastructure Bank
“Generation Mining, just secured a major $200 million subordinated debt commitment from the Canada Infrastructure Bank”
Kerry Knoll· 30 Jun 2026·
capital needed
just over 700 million USD capex
“the CapEx is just over 700 million”
Jamie Levy· 27 Jun 2026·
capital needed
about a billion dollars committed; little bit more equity still to raise
“So, we're at a billion dollars um uh committed right now. There's a little bit more equity and or um um that we still need to raise”
Jamie Levy· 27 Jun 2026·
Show the other 2 statements
cash position
35 million in the bank
“Well, we have 35 million in the bank right now, maybe maybe um maybe a little bit more”
Jamie Levy· 27 Jun 2026·
financing status
Wheaton streaming: $240 million; senior bank debt: $310 million USD (424 million CAD) approved; Canada Infrastructure Bank: $200 million subordinated debt
“Wheaton Precious Metals. They gave us $240 million... we just announced last week that we've got uh credit approval, uh which is no small feat... upwards of 310 million USD or about 424 million dollars Canadian... we just announced last week from Canada Infrastructure Bank, which was... another $200”
Jamie Levy· 27 Jun 2026·

Timeline 4 statements

Timeline 4

Key takeaway. In June 2026, Generation Mining's management outlined an evolving timeline for their project.

Read the full summary

They indicated that construction could start as early as September 2025, while also stating a target of fall 2026 for construction start. Management noted that a final investment decision (FID) with a fully financed package remains a key milestone, and they cited a projected mine life of 13 years.

What was actually said
construction start
fall 2026
“we look forward to updating you when the uh construction starts in the fall”
Kerry Knoll· 30 Jun 2026·
construction start
September 2025
“our plan is to build this project this year to start construction in September”
Jamie Levy· 27 Jun 2026·
milestone
mine life 13 years
“The mine life is 13 years”
Jamie Levy· 27 Jun 2026·
Show the other 1 statement
milestone
FID (fully financed package)
“an FID, which is going to be coming on a fully financed package”
Jamie Levy· 27 Jun 2026·

Corporate 1 statement

Management 1

What was actually said
track record
started six mining companies, four of them have become producing mines
“Over his career, he's started six mining companies and four of them have become producing mines”
Kerry Knoll· 30 Jun 2026·

Outside views 2 mentions

2 mentions by people who do not speak for the company. These are their views, not the company's.

Nick Smart
neutral
Peer comparison — ~3M oz PGE project in Ontario, ~$100-200M market cap; used to benchmark ValOre's relative undervaluation
Crux Investor· 03 Apr 2026·
Mark Selby
neutral
Raised $30M for platinum-copper project in Ontario; ready-to-go project.
Crux Investor· 15 Jan 2026·

Sources 2 interviews

Every interview 2

DateChannelInterviewStatements
30 Jun 2026 The Deep Dive We’re in the Early Stages of a Critical Metals Bull Market | Kerry Knoll - Generation Mining 10
27 Jun 2026 Jimmy Connor Generation Mining: Construction Ready Copper-Palladium Mine in Canada 20

What else those interviews covered

Every other asset named in the same recordings, by how many of them named it — the company's coverage context, not its holdings. Where the name is another company we hold a record for, it links to it.

copper 2
gold 2
palladium 2
platinum 2
marathon project 1
eldorado gold 1
foran mining 1

Questions people ask

What is Generation Mining's project and where is it?

Generation Mining is a developer copper company, with a project stated to be in Ontario, Canada. Everything here is drawn from its executives' own interviews.

Which interviews mention Generation Mining?

We track 2 interviews mentioning Generation Mining, across 2 channels (Jimmy Connor, The Deep Dive).

What are investors saying about Generation Mining?

2 independent voices — people who do not speak for the company — are on record discussing it (2 neutral). Their reasoning is quoted in the outside-view section above.

What do recent interviews with Generation Mining cover?

The most-discussed topics on record are economics, the deposit, financing, jurisdiction — each claim quoted and dated in the sections above.

How to read this page

What is here

Statements made by company representatives in the interviews listed above — each one carrying the words that made it, the date, and the recording. Nothing is added from any other source: if it was not said on a recording, it is not on this page. The one exception lives in the Claims & Checks record, which cites a metal price from our own feed so a stated cost can be set against it — and labels it as ours wherever it appears.

What is not verified

All of it. Resource figures, economics, timelines and promotional framing are management's own representations, checked against no filing and no technical report. Transcripts are automatic; we repair a clearly mis-heard word but never a number, a date, a unit or a speaker's hedge — “about 8.6 million ounces” keeps its “about”.

How to use it

Treat it as a map of what has been said, not as a source of fact. Where a figure matters to you, open the recording and read the company's filings. Nothing here is financial advice, a recommendation, or an offer to buy or sell any security — these are interested parties discussing their own company.

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