Cabral Gold Inc.
Cabral Gold's 100%-owned Cuiú Cuiú district covers ~30,563 hectares in Brazil's Tapajós gold region. A July 2025 PFS on the 1Mtpa gold-in-oxide heap leach starter project reported 78% after-tax IRR and US$74M NPV5% at US$2,500/oz gold, a 10-month payback, and life-of-mine AISC of US$1,210/oz. Construction was fully funded via the US$45.1M Gold Loan; Cabral poured its first gold on 10 September 2026 and completed its first sale, over 2,400 oz of gold, on 30 September 2026; it expects to declare commercial production in Q4 2026 as the heap leach ramps up to design rate.
Notable vs. Peers
- Financials score of 3.5/10 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.
- All-in sustaining cost of $1,210/oz is 33% lower than the peer producer average of $1,813/oz.
Lifecycle Milestones
Construction Milestones
4 of 5 reached- Reached — date not disclosed · Source
- Oct 2025 · Source
- Reached — date not disclosed
- Sep 2026 · 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.
Not in place: tailings facility, grid power.
Jurisdiction (40%)6/10
Brazil has an established federal mining code and large mining sector, but state-level permitting/environmental review timelines add incremental risk versus Tier-1 jurisdictions.
Infrastructure (40%)5.7/10
A confirmed mill, confirmed road access, no confirmed grid power, and no confirmed tailings facility at Cuiú Cuiú Gold Project, Tapajós, Pará State, Brazil.
Nearby producing mine (20%)9.2/10
Tocantinzinho (G Mining Ventures Corp.) is 32 km away -- within regional-platform range.
Acquisition Susceptibility
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 in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:6.8/10
Nearest producing mine: Tocantinzinho (G Mining Ventures Corp.), 32 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:6/10
Brazil: jurisdiction score 6/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President, Chief Executive Officer and Director of Cabral Gold Inc. Credited with 5 gold discoveries in Brazil with NI 43-101 compliant resources; one of the company's largest shareholders.
Chief Financial Officer and Corporate Secretary of Cabral Gold Inc.
President, Brazil for Cabral Gold Inc.
VP Technical Services at Cabral Gold Inc.; also a non-executive director of American Rare Earths Limited.
Vice President Project Development at Cabral Gold Inc.
VP Brazil Operations at Cabral Gold Inc.
VP Exploration at Cabral Gold Inc. Appointed August 2026; exploration geologist.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Eric Sprott invested roughly $2 million in an April 2025 financing -- a real but modest-sized specialist stake at this company's scale. Director Lawrence Lepard, himself a well-regarded precious-metals investor, personally bought 63,500 shares on the open market on 2025-08-19. An earlier claim of a large Dundee Resources stake did not hold up: the last verifiable filing (2020) shows Dundee selling down to about 9.4% and falling, six years stale, so it was not counted.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Cabral Gold owns 100% of the Cuiú Cuiú gold district, about 30,563 hectares in the Tapajós region of Pará State, Brazil, where its Phase 1 gold-in-oxide heap-leach mine poured first gold on 10 September 2026. The company completed its first sale, more than 2,400 oz of gold, on 30 September 2026 and expects to declare commercial production in the fourth quarter of 2026. Indicated resources total 666,382 oz of gold, with no measured category (450,200 oz in fresh basement material and 216,182 oz in oxide), plus 525,669 oz inferred. The July 2025 updated pre-feasibility study for the 1 Mtpa oxide starter operation shows an after-tax NPV5% of US$73.9M and a 78% IRR at US$2,500/oz gold, with initial capital of US$37.7M, a 6.2-year mine life and an all-in sustaining cost of US$1,210/oz. A larger Phase 2 study on the hard-rock resource is planned for 2027.