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Gold X2

Gold explorer, with a project stated to be in Ontario.

Ontario · Canada — as stated on the recordings

explorer gold Ontario, Canada
Jun 2026Covered
6 of 10Topics on record
1 executiveNamed on the record
Stage
Explorer
Primary commodity
Gold
Jurisdiction
Ontario
Latest appearance
09 Jun 2026
On record
1 interview · 14 statements · 1 executive

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
2.1 million ounces indicated and 3.9 million ounces inferred
Management-stated Michael Henrichsen Jun 2026
Capital needed
$2 billion Canadian
Management-stated Michael Henrichsen Jun 2026
What happens next
Eight rigs spinning by end of June
Management-stated Michael Henrichsen Jun 2026
The main open question
The case relies on pit deepening assumptions (50–75 m) to unlock additional ounces, $2 billion capex in a rising rate environment, and gold price assumptions ($2,750–$3,600) that may not hold; outside input is minimal and the project faces…
Weighed from the statements below, not our opinion of the company.
Our reading
How outsiders read it
1 independent voice on record — 1 neutral
Richard Williams
Outside voices

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 Gold X2's own claims across 1 interview — most-covered theme first.

What outside voices pick up on

1 independent voice — people who do not speak for the company — across 1 mention.

1 neutral
  • Richard Williams “Mentioned as a nearby company/project in the Thunder Bay belt.”

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 deposit holds 2.1 million ounces indicated plus 3.9 million inferred, with pit deepening potentially adding another couple million ounces; at conservative $2,750 gold the project generates $2.2 billion NPV and 22% IRR…

What it rests on
▶
▶
Evidence: 2 moments from 1 interview
Read the full case

Management says the deposit holds 2.1 million ounces indicated plus 3.9 million inferred, with pit deepening potentially adding another couple million ounces; at conservative $2,750 gold the project generates $2.2 billion NPV and 22% IRR over 13 years at 265,000 ounces annual production, financed by $116 million strategic capital in Ontario, Canada.

▼ Bear case

The case relies on pit deepening assumptions (50–75 m) to unlock additional ounces, $2 billion capex in a rising rate environment, and gold price assumptions ($2,750–$3,600) that may not hold; outside input is minimal and the project faces…

What it rests on
▶
Evidence: 1 moment from 1 interview
Read the full case

The case relies on pit deepening assumptions (50–75 m) to unlock additional ounces, $2 billion capex in a rising rate environment, and gold price assumptions ($2,750–$3,600) that may not hold; outside input is minimal and the project faces standard permitting and construction risk typical of large Canadian open-pit mines.

◆ Watch next

Eight drill rigs ramping to full capacity by end of June executing 160,000-meter exploration program; results from pit deepening work will test the key 1.5–2 million ounce upside claim and inform resource re-rating and permitting pathway.

What it rests on
▶
Evidence: 1 moment from 1 interview
Read the full case

Eight drill rigs ramping to full capacity by end of June executing 160,000-meter exploration program; results from pit deepening work will test the key 1.5–2 million ounce upside claim and inform resource re-rating and permitting pathway.

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 6 statements

The deposit 3

Key takeaway. Management of Gold X2 states that the deposit contains 2.1 million ounces indicated and 3.9 million ounces inferred as of June 2026.

Read the full summary

The company describes it as a large deposit that can be mined by open pit, with potential for an underground component at the base of the pit. The CEO also sees exploration upside, estimating another couple million ounces from pit deepening, specifically between a million and a half and a couple million ounces.

What was actually said
deposit type
Large deposit with open pit and potential underground component at base of pit
“And so could there be an underground component at the base of a big pit as an example? And that's something we want to drive towards”
Michael Henrichsen· 09 Jun 2026·
exploration upside
another couple million ounces from pit deepening, between a million and a half and a couple million ounces
“If we deepen that pit by 50 to 75 m, I think there's could be another couple million ounces sitting there that we can recognize very quickly.”
Michael Henrichsen· 09 Jun 2026·
resource size
2.1 million ounces indicated and 3.9 million ounces inferred
“Inside that pea, we saw uh 2.1 million ounces of indicated gold and about 3.9 million ounces of inferred.”
Michael Henrichsen· 09 Jun 2026·

Jurisdiction 2

Key takeaway. Management says the company's project is located in Ontario, Canada.

Read the full summary

The company notes this as a positive for jurisdiction, though no specific permitting timeline or status was discussed.

What was actually said
country
Canada
“Yeah, I mean, I think you're what you're really looking at is one of the large deposits in Canada taking shape.”
Michael Henrichsen· 09 Jun 2026·
region
Ontario
“Um, but I want to get right into Ontario and what you're building at at GoldX2.”
Michael Henrichsen· 09 Jun 2026·

Technical risk 1

What was actually said
key assumption
Pit expansion of 50 to 75 m depth
“If we deepen that pit by 50 to 75 m, I think there's could be another couple million ounces sitting there that we can recognize very quickly.”
Michael Henrichsen· 09 Jun 2026·

Economics 6 statements

Economics 5

Key takeaway. Management of Gold X2 presented project economics in June 2026 using a base-case gold price assumption of $2,750, yielding a $2.2 billion after-tax NPV and a 22% IRR.

Read the full summary

At a long-term consensus range of $3,500–$3,600 gold, they reported NPV rising to $4.2 billion and IRR to 34%. The company also cited annual production of 265,000 ounces and capital costs of $2 billion Canadian.

What was actually said
capex
$2 billion Canadian
“And capex in that pea was around $2 billion. 2 billion Canadian.”
Michael Henrichsen· 09 Jun 2026·
irr
22% IRR at $2,750 gold; 34% IRR at $3,500-$3,600 gold
“We have a $2.2 billion NPV after tax 22% IRRa and this is our most conservative possible look to the project. Now if you go to long-term consensus 35 3600 on that you know you're all of a sudden at a $4.2 billion NPV 34% IRR.”
Michael Henrichsen· 09 Jun 2026·
npv
$2.2 billion NPV after tax at $2,750 gold; $4.2 billion NPV at $3,500-$3,600 gold
“We have a $2.2 billion NPV after tax 22% IRRa and this is our most conservative possible look to the project. Now if you go to long-term consensus 35 3600 on that you know you're all of a sudden at a $4.2 billion NPV 34% IRR.”
Michael Henrichsen· 09 Jun 2026·
Show the other 2 statements
operating cost
265,000 ounces per annum
“Yeah, I mean we're 13 years, 265,000 ounces perom.”
Michael Henrichsen· 09 Jun 2026·
price assumption
$2,750 gold for the PA base case; $3,500-$3,600 for long-term consensus
“I mean, ultimately, I mean, the way that I view it is we did that study at $2,750 gold, right? Like that was the three-year trailing average at the top.”
Michael Henrichsen· 09 Jun 2026·

Financing 1

What was actually said
capital needed
$116 million strategic financing
“we released our PA, where we released the strategic financing of $116 million a couple of days afterwards.”
Michael Henrichsen· 09 Jun 2026·

Timeline 2 statements

Timeline 2

Key takeaway. Management at Gold X2 reports that by the end of June 2026, the company will have eight drill rigs spinning as part of a 160,000-meter drill program that will be ramping up to that level.

What was actually said
milestone
Eight rigs spinning by end of June
“Eight rigs spinning by I think end of June. That's right.”
Michael Henrichsen· 09 Jun 2026·
milestone
160,000 meters drill program on deck, ramping up to eight drill rigs
“Yeah. We got 160,000 meters on deck. We're just ramping up to eight drill rigs right now.”
Michael Henrichsen· 09 Jun 2026·

Outside views 1 mention

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

Richard Williams
neutral
Mentioned as a nearby company/project in the Thunder Bay belt.
Proactive Investors· 17 Jun 2026·

Sources 1 interview

Every interview 1

DateChannelInterviewStatements
09 Jun 2026 VRIC Media AngloGold Just Made A HUGE Investment in Gold X2 - Here’s Why 14

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.

anglogold ashanti 1
gold 1
hess capital 1
newmont 1
silver 1

Questions people ask

What is Gold X2's project and where is it?

Gold X2 is a explorer gold company, with a project stated to be in Ontario, Canada. Everything here is drawn from its executives' own interviews.

Which interviews mention Gold X2?

We track 1 interview mentioning Gold X2, across 1 channel (VRIC Media).

What are investors saying about Gold X2?

1 independent voice — people who do not speak for the company — are on record discussing it (1 neutral). Their reasoning is quoted in the outside-view section above.

What do recent interviews with Gold X2 cover?

The most-discussed topics on record are economics, the deposit, timeline, 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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