Amapá Minerals Holdings Inc. (formerly Amapá Precious Metals Inc., renamed June 2026) owns and operates the Amapá Project -- a past-producing open-pit gold operation in the Guiana Shield of northern Brazil that sold more than 1.5 million ounces of gold between 2005 and 2021 under prior owner Great Panther Mining before being idled in 2021. The company invested more than US$91 million to modernize the processing plant and restart the mine, targeting first metal in April 2026 and ramping toward up to 150,000 oz/year of gold production; the operation employs roughly 965 people, the large majority locally hired. Amapá Minerals completed its TSX initial public offering on 30 Jul 2026, selling 127,272,728 common shares at CA$1.10 for gross proceeds of ~CA$140 million (underwritten by Canaccord Genuity and BMO Capital Markets as joint bookrunners), to fund the restart and ongoing operations. CEO is Ivan Truzzi.
Notable vs. Peers
- Financials score of 1/10 is weaker than the peer average of 6.5/10.
- Jurisdiction risk score of 6/10 is meaningfully riskier than the peer average of 7.8/10.
Lifecycle Milestones
Construction Milestones
4 of 5 reached- Reached — date not disclosed · SRK Consulting carried out the environmental studies, permitting and social-impact assessment in 2011 for the Operating Licence issued by SEMA (Amapá state environmental secretariat) covering the SAG mill/CIL processing plant Beadell Resources built at Tucano. Exact issuance day not found in available primary sourcing. · Source
- Reached — date not disclosed · Beadell Resources completed the Definitive Feasibility Study for the Tucano gold project in May 2011, immediately ahead of construction start. Exact day not found. · Source
- Jul 2011 · Construction of the carbon-in-leach (CIL) gold processing plant began in July 2011. Exact day within July not given. · Source
- Reached — date not disclosed · First gold was poured at Tucano in December 2012, from the newly built CIL plant. Exact day not found in available primary sourcing. · Source
- Not yet reached
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
Chief Executive Officer of Amapá Minerals Holdings Inc., leading the restart of the past-producing Amapá Project (formerly Tucano Gold Mine) in Amapá state, Brazil.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Starboard Asset Ltda, a Brazilian private-equity and restructuring firm, acquired the distressed former Amapa mine out of bankruptcy and remains the company's majority shareholder (over 55% post-IPO) -- a real, current, cash-based controlling position, but from a financial sponsor rather than a mining producer. No genuine open-market insider buying was found in the short trading history since the July 2026 IPO.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Amapá Project (Pedra Branca do Amapari, Brazil; formerly the Tucano Gold Mine, a past-producer that sold >1.5 Moz gold 2005-2021), per the NI 43-101 technical report effective 31 Jan 2026 (published 19 Jun 2026): Measured+Indicated Mineral Resource 61.23 Mt @ 0.988 g/t Au for ~1.94 Moz gold (inclusive of Mineral Reserves); Proven+Probable Mineral Reserves 31.69 Mt @ 1.111 g/t Au for ~1.13 Moz gold, supporting a 10-year open-pit life-of-mine plan. First gold pour was 4 May 2026 (ramp-up, processing stockpiled material as of Q2 2026). NAMING COLLISION: this Amapá gold project is NOT the same as Cadence Minerals' 'Amapá Iron Ore Project' (also Brazil, different company/commodity, that project's own PFS reports NPV$949M-1.97B/IRR34-56%) -- several web-search results for 'Amapa NPV IRR' surface the iron-ore project's figures; none were used for this record. No NPV or IRR figure specific to this gold project's own Jan-2026 technical report was located this pass.