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Maple Gold MinesTSXV:MGM

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

Quebec · Canada — as stated on the recordings

explorer gold Quebec, Canada
Jan 2025 → May 2026Covered
9 of 10Topics on record
4Figures tracked over time
2 executivesNamed on the record
Generate Claims & Checks What management and commentators said, and what still needs independent verification 7 interviews with the company · 6 independent recordings
Stage
Explorer
Primary commodity
Gold
Jurisdiction
Quebec
Latest appearance
11 May 2026
On record
7 interviews · 78 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
Jutel over 1 million ounces at circa 4 to 4 and a half grams
Management-stated Kiran Patankar May 2026
Grade
approximately 0.9 grams per tonne for open pit; Jutel over 4 grams per million ounces
Management-stated Kiran Patankar May 2026
Money on hand
33 million on balance sheet plus 3.2 million from warrant exercise at full exercise; around 35 million total
Stated capital need: 30 million cash balance
Management-stated Kiran Patankar May 2026
What happens next
32,000 meters budgeted winter program; 60 holes drilled total; approximately 75,000 meters additional drilling planned
Management-stated Kiran Patankar May 2026
The main open question
Management acknowledges a 15% drop in overall grade to 0.9 grams per tonne for open pit (fact 3, 13), and the company remains in exploration phase with no construction timeline announced.
Weighed from the statements below, not our opinion of the company.
Our reading
How outsiders read it
5 independent voices on record — 2 constructive, 2 neutral
Deepak Varshney, Unknown speaker, Jamie Porter, Matt Manson…
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.

Cash position about 10 million33 million ≠ Different measure Stated in money, then in shares — not the same quantity 4 statements on record
22 Jan 2025
about 10 million Canadian dollars
“Maple closed a $5.6 million financing effectively putting its cash position at about and I'm rounding up again but at about 10 million Canadian dollars”
11 May 2026
33 million on balance sheet plus 3.2 million from warrant exercise at full exercise; around 35 million total
“we've accelerated uh warrants uh that had an accelerator if we trade above $2.50 we're at around 330 uh $3.30 Canadian today. Um the warrant proceeds at fully exercise that'll bring in another 3.2 mil…”
Resource size about 5 million oz77% ≠ Different measure Stated in ounces, then in percent — not the same quantity 7 statements on record
22 Jan 2025
about 5 million ounces
“but they do believe they can grow that to about 5 million ounces”
11 May 2026
77% growth in indicated resource; 70% growth in inferred
“a 77% growth in indicated resource globally and 70% growth in inferred for you know maybe a a 15% drop in in grade”
Shares outstanding 455 million sharesapproximately 67 million ≠ Different measure Stated in shares, then in money — not the same quantity 2 statements on record
22 Jan 2025
455 million shares outstanding
“and about 455 million shares outstanding today”
10 Feb 2026
approximately 67 million (calculated from $153M market cap at $2.29/share)
“market cap uh with uh 36 million in the bank. So, we're going to talk about uh enterprise value per ounce metrics”
Ownership ? Wording changed One statement carries no figure to compare 3 statements on record
22 Jan 2025
only about 1% is held by insiders
“and only about 1% is held by insiders which is also going to be part of the conversation”
04 Mar 2026
Agnico as long-term focused institutional strategic and corporate shareholder
“we've brought in a very long-term focused uh institutional um strategic and corporate shareholder base. Obviously, Agniko has been with us for quite a while.”

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 Maple Gold Mines's own claims across 7 interviews — most-covered theme first.

What outside voices pick up on

5 independent voices — people who do not speak for the company — across 6 mentions.

2 constructive 2 neutral
  • Deepak Varshney “Used as a regional valuation/development comparison.”
  • Unknown speaker “Named as the Quebec company; discussions were favorable on rule of law, infrastructure, and project scale.”
  • Jamie Porter “Agnico investment as part of junior partnership strategy; no specific thesis discussed”
  • Matt Manson “Presented as a large, infrastructure-rich Quebec explorer with 3M+ ounces and multiple growth paths.”

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 company has a 5.2M-ounce district with two deposits (Dway and Jutel) in mining-friendly Quebec, backed by major producer Agnico Eagle as largest shareholder and $36M cash through 2027.

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

Management says the company has a 5.2M-ounce district with two deposits (Dway and Jutel) in mining-friendly Quebec, backed by major producer Agnico Eagle as largest shareholder and $36M cash through 2027. An outside investor noted it is a large, infrastructure-rich Quebec explorer with 3M+ ounces and multiple growth paths—and the scoping study underway (fact 17) with established mine planning expertise (Agnico director Mark Legault with 34 years experience; fact 29) positions it for faster economics than typical juniors.

▼ Bear case

Management acknowledges a 15% drop in overall grade to 0.9 grams per tonne for open pit (fact 3, 13), and the company remains in exploration phase with no construction timeline announced.

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

Management acknowledges a 15% drop in overall grade to 0.9 grams per tonne for open pit (fact 3, 13), and the company remains in exploration phase with no construction timeline announced. Rick Rule cautioned there is not yet enough evidence of a discovery, and while the cash runway extends to 2027, the path from current resource (heavily weighted to inferred) to construction financing remains unproven. No permitting milestone or mine development schedule has been disclosed.

◆ Watch next

Approximately 100,000 meters of drilling planned, with 32,000 meters budgeted in the winter program (fact 11) and updated resource estimate expected within the next year (fact 15)—critical to test depth potential at Jutel (only 6 km of 55…

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

Approximately 100,000 meters of drilling planned, with 32,000 meters budgeted in the winter program (fact 11) and updated resource estimate expected within the next year (fact 15)—critical to test depth potential at Jutel (only 6 km of 55 km strike explored; facts 16, 21) and confirm Dway's expansion upside. Scoping study results from Oeno (fact 17) and any financing announcements before cash depletes in 2027 will signal momentum toward development.

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 36 statements

The deposit 25

Key takeaway. Management of Maple Gold Mines describes the deposit as a district-scale gold system that includes two deposits, Dway and Jutel, with potential for both open pit and underground mining.

Read the full summary

The company reports a resource of about 5 million ounces (January 2025), with a later statement of close to 3 million ounces in the 2022 resource (March 2026), and notes 77% growth in the indicated resource and 70% growth in the inferred resource (May 2026). The CEO said the Dway deposit is related to an alkaline porphyry intrusive (March 2026), while Jutel is described as a volcanic-associated EMS-type setting within a past-producing mine complex (March 2026). Management highlights significant exploration upside, noting that only 6 km of the 55 km strike length on the Casa Berardi belt has been explored at Dway (May 2026) and that very little testing has occurred below 500 meters depth (March 2026).

What was actually said
deposit type
district scale gold system with two deposits (Dway and Jutel); potential for open pit and underground mining
“we have potentially two minds. How that all fits together with the existing infrastructure”
Kiran Patankar· 11 May 2026·
exploration upside
Dway has 55 km strike length on the Caserarti with only 6 km explored
“It's got potential to expand laterally along strike 55 km of strike length on the Caserarti. We've only really explored six kilometers of that at Dway.”
Kiran Patankar· 11 May 2026·
exploration upside
500 km land package that remains very underexplored
“we do have a big 500 km land package that still remains very underexplored”
Kiran Patankar· 11 May 2026·
Show the other 22 statements
exploration upside
maiden resource at Jutel over 4 grams per million ounces; Dway showing growth in size and quality
“we have a maiden resource now at jutel dway's also grown uh in terms of size but importantly I think across the board this resource in terms of quality”
Kiran Patankar· 11 May 2026·
grade
approximately 0.9 grams per tonne for open pit; Jutel over 4 grams per million ounces
“overall reduction in grade and due in the open pit from you know around a gram to around 0.9 grams”
Kiran Patankar· 11 May 2026·
resource size
Jutel over 1 million ounces at circa 4 to 4 and a half grams
“With a million ounce of resource that we have at Jutell at circa 4 to 4 and a half grams”
Kiran Patankar· 11 May 2026·
resource size
5.2 million ounces
“Maple is an advanced exploration company, wellunded. Uh, proceeding with a a 5 million ounce plus gold project in Quebec, Sabat Tibby.”
Kiran Patankar· 11 May 2026·
resource size
77% growth in indicated resource; 70% growth in inferred
“a 77% growth in indicated resource globally and 70% growth in inferred for you know maybe a a 15% drop in in grade”
Kiran Patankar· 11 May 2026·
deposit type
Joutel volcanic accelative EMS type setting, past producing mine complex
“Jutell, which has a little bit more of a volcanic sort of accelative EMS type of a setting. >> Um Jutell was a past producing mine complex.”
Kiran Patankar· 04 Mar 2026·
deposit type
Douay related to alkaline porphyry intrusive
“due is related to a big alkaline porefree intrusive”
Kiran Patankar· 04 Mar 2026·
exploration upside
6 km of 55 km of strike length controlled
“this is only on you know 6 km of 55 km of strike length that we control.”
Kiran Patankar· 04 Mar 2026·
exploration upside
very little testing below 500 meters depth
“It's gotten very little testing below 500 meters depth”
Kiran Patankar· 04 Mar 2026·
exploration upside
39 holes drilled at Joutel with 7 results released
“we only released uh seven holes out of a total of 39 that we've drilled already.”
Kiran Patankar· 04 Mar 2026·
exploration upside
20,000 meter program at Douay project
“we've got a 20,000 m program at our dua project.”
Kiran Patankar· 04 Mar 2026·
exploration upside
10,000 meter program at Joutel project
“we've got a 10,000 meter program going at our Jutel project.”
Kiran Patankar· 04 Mar 2026·
exploration upside
330,000 meter drill program underway
“we have a ongoing 3 30,000 meter drill program underway.”
Kiran Patankar· 04 Mar 2026·
resource size
close to 3 million ounces in 2022 resource
“in the 2022 resource it's sitting at close to a gram. Um so in this price environment uh you know 3 million ounces is nothing to sneeze at”
Kiran Patankar· 04 Mar 2026·
deposit type
multi-million ounce project with existing infrastructure, past producing mine complex
“has the right scale of project to attract major interest um that has the right jurisdiction in Quebec that has established down past producing mine complex”
Kiran Patankar· 10 Feb 2026·
exploration upside
well-endowed geologically, fishing in the right lake, regional exploration prioritized
“we're we're wellendowed geologically. So there is that, you know, you're you're fishing in the right lake, right?”
Kiran Patankar· 18 Jan 2026·
deposit type
intrusion related gold systems
“Yeah, I think it's just the sheer scale of the system. You know, it's a intrusion related gold systems which it generally implies that they're they're very large.”
Ian Cunningham-Dunlop· 18 Jan 2026·
exploration upside
extending high grade to 500 meters and beyond, success at Nika zone at 531 meters
“the big push from last year's program was chasing high grade and can we extend the high grade to 500 meters and beyond and we we're we're think we have a pretty good handle on that. We had some good success last year at the Nika zone at 531 extending that kind of high grade.”
Ian Cunningham-Dunlop· 18 Jan 2026·
resource size
3 million ounces
“So I think there's a real a real opportunity. It's a it's a big robust system and 3 million ounces it's one of the largest ones undeveloped ones in Quebec right now.”
Ian Cunningham-Dunlop· 18 Jan 2026·
deposit type
mostly in the inferred category
“a 3 million ounce goat resource on it mostly in the inferred category”
Kiran Patankar· 22 Jan 2025·
resource size
about 5 million ounces
“but they do believe they can grow that to about 5 million ounces”
Kiran Patankar· 22 Jan 2025·
resource size
3 million ounce gold resource
“the company holds a 100% interest in the doe um goat project which has a 3 million ounce goat resource on it”
Kiran Patankar· 22 Jan 2025·

Jurisdiction 7

Key takeaway. Management of Maple Gold Mines consistently notes that its project is located in Canada, specifically in Quebec.

Read the full summary

Over the course of interviews from January 2025 to May 2026, the company has refined the location to the Abitibi greenstone belt in Quebec, calling out both the Abitibi region and the province of Quebec.

What was actually said
country
Canada
“proceeding with a a 5 million ounce plus gold project in Quebec, Sabat Tibby”
Kiran Patankar· 11 May 2026·
region
Quebec, Abbatib region
“we have a project now that's over five million ounces right that that establishes our projects at DA and Chhatel. Um it's a rare multi-million ounce district scale gold system in a region that's got great infrastructure in the abbatib.”
Kiran Patankar· 11 May 2026·
country
Canada
“Maple Gold is a well-funded Canadian gold exploration and development company”
Kiran Patankar· 04 Mar 2026·
Show the other 4 statements
region
Quebec
“focused on advancing district scale gold projects in the province of Quebec.”
Kiran Patankar· 04 Mar 2026·
region
Quebec
“has the right jurisdiction in Quebec that has established down past producing mine complex”
Kiran Patankar· 10 Feb 2026·
country
Canada
“they also hold the jel gold project which is a past producing mine that they believe has upside potential”
Kiran Patankar· 22 Jan 2025·
region
Abitibi greenstone belt in Quebec
“by the way is focused on the Abby TB greenstone belt in Quebec”
Kiran Patankar· 22 Jan 2025·

Technical risk 4

Key takeaway. Management acknowledges significant technical risk at the Dway project.

Read the full summary

As of January 2026, the company reports that 83% of the resource is classified as inferred, with widely spaced drilling 100 to 200 meters apart. The CEO added that two years into the joint venture the team still lacked a better understanding of what drives gold mineralization at Dway, and that a key assumption—that gold is continuous from zone to zone and at depth—remains untested. Separately, the company noted that a deep drill program in early 2025 was technically successful but did not run grade, and that the share price fell 50% upon release of those final results.

What was actually said
key assumption
did not have better understanding of what drives gold mineralization at Dway two years into joint venture
“before we drilled a single hole this is one of the things I went back to our our joint venture partnership and and Agniko and said listen we don't really have a better understanding two years into the joint venture we don't really have a better understanding of what's actually driving um you know gold mineralization at Dway and that's that's fundamental that's a problem”
Kiran Patankar· 18 Jan 2026·
key assumption
gold is continuous from zone to zone and at depth
“infilling between those zones and show that it is that gold is continuous from zone to zone and also at depth.”
Ian Cunningham-Dunlop· 18 Jan 2026·
stated risk
83% of resource currently inferred, widely spaced drilling 100 to 200 meters apart
“right now due there's a large there's significant portion is in the inferred category of due 83% I think is is currently inferred and that's based on the widespace drilling pattern it's a you know it's a big six km ometer system. A lot of the drilling is 100 to 200 meters apart.”
Ian Cunningham-Dunlop· 18 Jan 2026·
Show the other 1 statement
stated risk
company underwent a 50% drop in share price upon releasing final drill results from a deep drill program which were technically successful but didn't run grade
“the company had actually undergone a 50% um drop in its share price upon releasing the final drill results uh from a deep drill program uh which was um really designed to test the potential for a bigger hydrothermal system at depth uh similar to other projects in the ABA Tibi um but again and we'll hit on all these things in terms of our marketing our philosophy or strategy the changes that we've made over the course of the year um it was poorly uh presented as to what the objectives were matching how we're presenting something to what the you know ultimate results you know the the the results came out at a time they were technically successful but they didn't run grade”
Kiran Patankar· 22 Jan 2025·

Economics 10 statements

Economics 2

Key takeaway. Management says the project economics are based on a gold price assumption of $2,500 (stated in May 2026).

Read the full summary

The company also notes that the economics do not depend on a $5,000 gold price (stated in March 2026).

What was actually said
price assumption
$2,500 gold
“um the 2022 as you'd expect that used $1,800 gold we used $2,500 gold for this”
Kiran Patankar· 11 May 2026·
key assumption
project economics do not depend on $5,000 gold price
“the Dway project and the DA Chhatel project has doesn't depend on a $5,000 gold price uh to work, right?”
Kiran Patankar· 04 Mar 2026·

Financing 8

Key takeaway. Management has provided a series of cash position updates that have increased over time.

Read the full summary

The company reports having had about 10 million Canadian dollars in January 2025, then 36 million in February 2026, and about 35 million total (33 million on the balance sheet plus 3.2 million from full warrant exercise) as of May 2026. The CEO noted that financing was announced January 26th and closed February 17th, 2026, and that the inaugural drill program was budgeted at 4 million dollars for 10,000 meters at $400 per meter but was completed at $300 per meter. Management also stated that this would result in about a 7.5% ownership dilution if options and warrants are exercised.

What was actually said
cash position
33 million on balance sheet plus 3.2 million from warrant exercise at full exercise; around 35 million total
“we've accelerated uh warrants uh that had an accelerator if we trade above $2.50 we're at around 330 uh $3.30 Canadian today. Um the warrant proceeds at fully exercise that'll bring in another 3.2 million.”
Kiran Patankar· 11 May 2026·
capital needed
30 million cash balance
“we're sitting with a $30 million cash balance”
Kiran Patankar· 04 Mar 2026·
cash position
raised at 60 cents 5 million, at 120 cents 13 million, at 245 cents 6 million
“we raised uh you know at 60 cents you know 5 million we raised at uh you know a$120 uh 13 million we raised at 245 uh6 million.”
Kiran Patankar· 04 Mar 2026·
Show the other 5 statements
cash position
36 million
“post financing, we have, you know, 36 million and change uh in cash to deploy”
Kiran Patankar· 10 Feb 2026·
financing status
announced January 26th; closing on February 17th
“we announced the financing on January 26th. ... we're looking for new investors obviously to come into our registry”
Kiran Patankar· 10 Feb 2026·
burn rate
inaugural drill program budgeted at 4 million dollars for 10,000 meters at $400 per meter, completed at $300 per meter
“we we set out we we kind of used that for our budgeting and said the first, you know, uh program that we were going to do, inaugural program with the new team, which we completed last year, you know, we targeted, okay, 4 million ounces, sorry, 4 million um dollars, which was uh 10,000 meters at $400 per meter. We came in at 300.”
Kiran Patankar· 18 Jan 2026·
cash position
about 10 million Canadian dollars
“Maple closed a $5.6 million financing effectively putting its cash position at about and I'm rounding up again but at about 10 million Canadian dollars”
Kiran Patankar· 22 Jan 2025·
dilution
about a 7 and a half% ownership dilution if options and warrants get exercised
“which would then also result in about a 7 and a half% owner ship dilution if and that's always a big if but if those options and warrants get exercised”
Kiran Patankar· 22 Jan 2025·

Timeline 12 statements

Timeline 12

Key takeaway. Maple Gold Mines' management describes an active, multi-year exploration program.

Read the full summary

A general manager joined and completed a corporate reset in August, after which the stock rose over 300% (January 2026). By March 2026, three rigs were turning 24/7. The company reports it is well funded through 2027 and has budgeted a 32,000-meter winter program with about 60 holes drilled total and roughly 75,000 additional meters planned (May 2026). Management says an updated resource estimate is expected sometime next year after drilling nearly 100,000 additional meters, while a scoping study with Oeno for mine planning is underway (May 2026). Earlier statements pointed to a first-time resource on Chhatel and a resource update release in Q1 (January 2026), as well as drill results and near-term updated resource estimates (February 2026).

What was actually said
milestone
32,000 meters budgeted winter program; 60 holes drilled total; approximately 75,000 meters additional drilling planned
“So we we had 32,000 meters uh budgeted under this winter program that was sort of split between you know about two-thirds of that at Dway and a third of that at Jutell.”
Kiran Patankar· 11 May 2026·
milestone
scoping study work underway with Oeno for mine planning
“obviously, we know when we get into uh mine planning, which is what we're doing with Oeno right now, just for our own internal purposes on a scoping study”
Kiran Patankar· 11 May 2026·
milestone
updated resource estimate expected sometime next year after drilling almost 100,000 additional meters
“next resource update which will probably be sometime next year after we've drilled almost 100,000 additional meters.”
Kiran Patankar· 11 May 2026·
Show the other 9 statements
milestone
well funded through 2027
“with around $35 million uh on the balance sheet, we're well funded through 2027”
Kiran Patankar· 11 May 2026·
milestone
3 rigs turning 24/7
“we've got four rigs uh or actually three rigs right now turning 24/7.”
Kiran Patankar· 04 Mar 2026·
milestone
exploration drill programs over next two years
“we can see our cash balance on the on the table. you know, post financing, we have, you know, 36 million and change uh in cash to deploy uh on rapidly advancing and rapidly expanding our exploration uh particularly our expansionary drill programs over the next two years.”
Kiran Patankar· 10 Feb 2026·
milestone
updated resource estimates coming in near-term; drill results
“We've got things like updated resource estimates that are coming in the near-term, drill results, etc.”
Kiran Patankar· 10 Feb 2026·
milestone
joined as general manager and completed reset in August, stock up over 300% since completion
“it's resulted in you know phenomenal performance certainly over uh since we completed the reset in August you know up over 300%”
Kiran Patankar· 18 Jan 2026·
milestone
30,000 meter drill program, about a third complete, continuing through end of Q1 early Q2
“We're looking at the obviously completing this drill program. We're about coming up on about a third of the way through the 10,000 or the 30,000 meter programs. We've done close to 10,000 meters. That'll continue through till the end of of Q1, early uh early Q2.”
Ian Cunningham-Dunlop· 18 Jan 2026·
milestone
first-time resource on Chhatel coming out
“And we're also h have a firsttime resource on Chhatel coming out. So Chhatel was mined by Agniko Eagle up until 1994.”
Ian Cunningham-Dunlop· 18 Jan 2026·
milestone
resource update release in Q1
“We have a resource update that we've been working on which will also be released sometime in uh in Q1 that SLR Consulting is working on.”
Ian Cunningham-Dunlop· 18 Jan 2026·
milestone
there are going to be drilling now in 2025
“there are however going to be drilling now in 2025 which is of course something we'll discuss as well”
Kiran Patankar· 22 Jan 2025·

Corporate 20 statements

Management 12

Key takeaway. Maple Gold Mines management has highlighted a board and team built on decades of experience at major mining companies.

Read the full summary

The company notes that director Mark LGO spent 34 years at Agnico Eagle (March 2026) and that its VP exploration brings a 30-year Glencore background (March 2026). Management also points to Ian Cunningham Dunlop, who joined in August 2024 with a career in the Abitibi and experience at Barrick, Homestake and other groups (January 2026). On the ownership side, the company says Agnico Eagle is its largest shareholder (May 2026), cornerstone shareholders include ADO and Mike Gentilly, and management has been buying stock (February 2026). Separately, management cites a track record of nine different takeovers and experience working as an investment banker on multiple M&A transactions (January 2026).

What was actually said
insider ownership
Agnico Eagle is largest shareholder
“our large producer uh largest shareholder in Agniko Eagle”
Kiran Patankar· 11 May 2026·
team experience
VP exploration with 30-year Glencore background
“our new VP exploration who was a 30-year Glenor Xrada flank falcon bridge uh, uh, exploration geologist.”
Kiran Patankar· 04 Mar 2026·
team experience
director Mark LGO with 34 years at Agnico Eagle
“we've got a director uh who joined us in August, Mark LGO. He was with ENO for 34 years.”
Kiran Patankar· 04 Mar 2026·
Show the other 9 statements
insider ownership
cornerstone shareholders ADO and Mike Gentilly; management buying stock
“We continue to maintain the support of you know our cornerstone shareholders in ADO and Mike Gentilly”
Kiran Patankar· 10 Feb 2026·
insider ownership
board members include Mark Lgo, Chris Adams, Dustin Issacs
“Fix the board. uh you know Mark Lgo, Chris Adams, Dustin Issacs um put a great uh management team together”
Kiran Patankar· 18 Jan 2026·
team experience
Ian Cunningham Dunlop attracted to company in August 2024, career in Abitibi, exploration and advanced project development with Barrick, Homestake, Marco Day Group, Oxygen Capital Group, True Gold, Frontier Gold, High Gold
“when we attracted Ian to come to the company in in 2024 for August. Uh, you know, there was the vision there that Ian was going to take ownership, right? I'm not an exploration geologist, right? I I have that technical background, but we really do need somebody that has Ian's pedigree, you know, started his career in the Abitibi”
Kiran Patankar· 18 Jan 2026·
team experience
CFO Nick Ferber, Chief Governance and Compliance Officer Wilma Lee, VP Corporate Development and Investor Relations Sarah Harriet
“our new CFO, Nick Ferber, uh Wilma Lee, who's our chief governance and compliance officer, Sarah Harriet, who we just brought on, you know, in as VP of uh corporate development and investor relations”
Kiran Patankar· 18 Jan 2026·
team experience
geological engineer Colorado School of Mines, mineral exploration, petroleum exploration, hydrogeology, environmental consulting for World Bank
“I'm a geological engineer Colorado school of mines uh you know I worked in mineral and explor mineral exploration petroleum exploration hydro geology so on the exploration side but also on the environmental side uh you know I've got a a background in sustainable development I did some consulting work for World Bank.”
Kiran Patankar· 18 Jan 2026·
track record
worked as investment banker with large cap companies, global investment bank based in Australia, multiple M&A transactions
“I worked obviously as an investment banker. I worked with large cap companies uh you know with a global investment bank based in Australia. We did you know multiple M&A transactions”
Kiran Patankar· 18 Jan 2026·
track record
stepped in as general manager of joint venture after company had not performed to expectations
“when I when I was asked by our partner to step in and be the general manager uh of the of the joint venture”
Kiran Patankar· 18 Jan 2026·
team experience
worked for major companies for almost 20 years including Goldfields, Santa Fe, Homestake, Bareric and Newmont; last 15 years with junior companies
“Um, worked for major companies for almost 20 years. I worked I started with Goldfields and then worked through um Santa Fe and Homestake and Bareric and in Newmont and then uh and then I've been pretty much with the junior companies for the last 15 years.”
Ian Cunningham-Dunlop· 18 Jan 2026·
track record
nine different takeovers
“So, I think I've been through nine different takeovers right now. So, it's a pretty pretty good track record for anyone looking at Maple now.”
Ian Cunningham-Dunlop· 18 Jan 2026·

Share structure 7

Key takeaway. Management has described a share structure that changed substantially between early 2025 and early 2026.

Read the full summary

In January 2025, the company reported 455 million shares outstanding, with insiders holding only about 1%, along with 16.5 million options and just over 21 million warrants. By February 2026, the CEO stated the company had approximately 67 million shares outstanding (calculated from a $153 million market cap at $2.29 per share), and that management continued to buy stock while employees participated in share purchase plans. The company also noted in March 2026 that Agnico is a long-term focused institutional strategic and corporate shareholder.

What was actually said
insider stake
Agnico as long-term focused institutional strategic and corporate shareholder
“we've brought in a very long-term focused uh institutional um strategic and corporate shareholder base. Obviously, Agniko has been with us for quite a while.”
Kiran Patankar· 04 Mar 2026·
insider stake
CEO and management continue to buy stock; employees participating in share purchase plans
“Whether it's in the market with every paycheck, as most of my employees do under our employee share purchase plans”
Kiran Patankar· 10 Feb 2026·
shares outstanding
approximately 67 million (calculated from $153M market cap at $2.29/share)
“market cap uh with uh 36 million in the bank. So, we're going to talk about uh enterprise value per ounce metrics”
Kiran Patankar· 10 Feb 2026·
Show the other 4 statements
insider stake
only about 1% is held by insiders
“and only about 1% is held by insiders which is also going to be part of the conversation”
Kiran Patankar· 22 Jan 2025·
options
16.5 million options
“there are 16.5 million options just over 21 million warrants”
Kiran Patankar· 22 Jan 2025·
shares outstanding
455 million shares outstanding
“and about 455 million shares outstanding today”
Kiran Patankar· 22 Jan 2025·
warrants
just over 21 million warrants
“there are 16.5 million options just over 21 million warrants”
Kiran Patankar· 22 Jan 2025·

Market 1

What was actually said
cost curve position
$29 US per ounce
“maple trades at $29 US per ounce. So that chart that we saw before”
Kiran Patankar· 10 Feb 2026·

Outside views 6 mentions

6 mentions by people who do not speak for the company — 2 constructive, 0 cautious, 2 neutral. These are their views, not the company's.

Deepak Varshney
neutral
Used as a regional valuation/development comparison.
Resource Talks· 28 May 2026·
Unknown speaker
mixed
Named as the Quebec company; discussions were favorable on rule of law, infrastructure, and project scale.
Resource Talks· 28 Apr 2026·
Deepak Varshney
bullish
Used as a nearby comp and possible acquirer benchmark.
Crux Investor· 14 Apr 2026·
Jamie Porter
neutral
Agnico investment as part of junior partnership strategy; no specific thesis discussed
Jimmy Connor· 29 Jan 2026·
Show the other 2 mentions
Matt Manson
bullish
Presented as a large, infrastructure-rich Quebec explorer with 3M+ ounces and multiple growth paths.
Crux Investor· 23 Oct 2025·
Rick Rule
mixed
He likes the neighborhood but says there is not yet enough evidence of a discovery.
In it to Win it· 14 Jun 2025·

Sources 7 interviews

Every interview 7

DateChannelInterviewStatements
11 May 2026 Crux Investor Maple Gold Mines (TSXV:MGM) - 5.2Moz Gold System with Major Drill Growth Ahead 17
22 Apr 2026 Natural Resource Stocks Maple Gold Targets a Major Re-Rating With Resource Update and 2027 Plan No claims identified
04 Mar 2026 Crux Investor Maple Gold Mines Ltd. (TSXV:MGM) - Funded Drilling Targets Douay Update & Maiden Joutel MRE 18
10 Feb 2026 Crux Investor Maple Gold Mines (TSXV:MGM) - 'Undervalued?' Investment Series, with Kiran Patankar 10
18 Jan 2026 Crux Investor Maple Gold Mines (TSXV:MGM) - Meet The Team, with Kiran Patankar 10
18 Jan 2026 Crux Investor Maple Gold Mines (TSXV:MGM) - Meet The Team, with Ian Cunningham-Dunlop 10
22 Jan 2025 Resource Talks GOLD: 3M Ounces in the Abitibi | Maple Gold Mines CEO Interview 13

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.

gold 5
agnico eagle 4
agnico eagle mines 3
copper 1
detour gold 1
beaver creek 1
douay project 1
dway 1

Questions people ask

What is Maple Gold Mines's project and where is it?

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

Which interviews mention Maple Gold Mines?

We track 7 interviews mentioning Maple Gold Mines, across 3 channels (Crux Investor, Natural Resource Stocks, Resource Talks).

What are investors saying about Maple Gold Mines?

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

What do recent interviews with Maple Gold Mines cover?

The most-discussed topics on record are the deposit, timeline, management, financing — 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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