Galleon Gold Corp.
Galleon Gold Corp. is advancing the West Cache gold project, an advanced-stage exploration property ~13km west of Timmins, Ontario in the Western Porcupine Gold Camp, adjacent to Pan American Silver's Timmins West mine. The company completed an 18,000-metre 2026 drill program and received a Category 3 Permit to Take Water in March 2026, enabling box-cut excavation toward an underground bulk sample program (86,500 tonnes) as part of a de-risking strategy ahead of any formal economic study. Financing includes convertible debentures and a C$46 million senior secured debt facility with Pan American Silver Corp.
Lifecycle Milestones
Not in place: grid power. Not yet determined: mill, tailings facility.
Jurisdiction (40%)9/10
Ontario: Fraser PPI 2025 is 93.70 of 100 (rank 5 of 68), which maps to 9 on this site's scale. Ontario, Canada — top-tier, low political-risk mining jurisdiction.
Infrastructure (40%)5/10
Confirmed road access and no confirmed grid power at West Cache Gold Project, Timmins, Ontario; existing mill and tailings facility not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)10/10
Timmins West (Pan American Silver Corp.) is 6 km away -- within shared-mill trucking 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:9.3/10
Pan American Silver Corp. holds 14.86% (reported 31 Mar 2026) See holders
An operating producer's stake scores 8 at 5%, rising to 10 at 20% (the take-over-bid threshold) and holding there up to 50%.
Weight 25% · 34% here - Distance to a producing mineSub-score:9.4/10
Nearest producing mine: Timmins West (Pan American Silver Corp.), 6 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 31% here - Lifecycle stageSub-score:6/10
Stage: Preliminary Economic Assessment
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 20% here - JurisdictionSub-score:9/10
Canada: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 9% 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% · 6% 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, CEO and Chairman of the Board of Galleon Gold Corp., appointed Jan 2019. Mining executive with a track record in project development and mine construction; founded Apollo Gold and acquired the Black Fox Mine; held senior positions at Getchell Gold, LAC Minerals/Barrick, Hecla, and Independence Mining; B.Sc. Mining Engineering, Montana Tech.
Chief Financial Officer of Galleon Gold Corp. Chartered Professional Accountant (CPA, CA) with 17 years of audit and public-market experience; worked as consulting accountant for Galleon Gold (formerly Pure Nickel) from March 2017 until her appointment as CFO; Bachelor of Administrative Studies (Honours), York University.
EVP Strategy and Corporate Secretary of Galleon Gold Corp. 20+ years of experience in the natural resources sector focused on junior mining, with expertise in capital markets, corporate governance, and stakeholder engagement; B.Sc. (Honours) Chemical Engineering, Queen's University; MBA, York University.
VP Exploration at Galleon Gold Corp., with the company since 2020. Has managed multi-rig exploration programs supporting the company's Preliminary Economic Assessment and bulk sample, and led the team responsible for the Zone 9 discovery; B.Sc. Earth Sciences, Dalhousie University.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Pan American Silver, a major silver producer, holds 14.86% of Galleon Gold on a non-diluted basis (19,824,766 shares at the 31 March 2026 record date, per Galleon's 2026 circular; most of them from a December 2025 private placement), and also provided a $46 million debt facility and an ore-processing agreement at the Bell Creek Mill. Eric Sprott has been a repeat lead investor in the company's financings since 2020, most recently putting in $3 million in December 2025.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Galleon Gold owns 100% of the West Cache gold project, about 13 km west of Timmins, Ontario, next to Pan American Silver's Timmins West mine. Its underground resource, effective 10 January 2022, has 472,000 oz of gold indicated (4,051 kt at 3.63 g/t), with no measured category, plus 1,088,000 oz inferred. The January 2022 preliminary economic assessment shows an after-tax NPV5% of US$182.4M (CAD 240M) and a 26.7% IRR at US$1,700/oz gold, with initial capital of US$113.7M (CAD 149.6M), an 11-year mine life and an all-in sustaining cost of US$987/oz. After receiving a Category 3 Permit to Take Water in March 2026, the company is excavating a box-cut toward an 86,500-tonne underground bulk sample, with Aki-Dumas contracted for the underground development, and its 18,000 m drill program has returned results including 6.8 g/t gold over 19.45 m in Zone 9.
Galleon Gold's maiden PEA and updated Mineral Resource Estimate for the 100%-owned West Cache Gold Project, Timmins, Ontario (announced 12 Jan 2022, effective 10 Jan 2022): underground Mineral Resource (1.6 g/t Au cutoff) of Indicated 4,051 kt at 3.63 g/t for 472,000 oz, plus Inferred 11,788 kt at 2.87 g/t for 1,088,000 oz. At a US$1,700/oz gold price: pre-tax NPV5% of C$378M / after-tax C$240M, pre-tax IRR 33.7% / after-tax 26.7%, 11-year LOM plus 2 years ramp-up, AISC US$987/oz, cash cost US$814/oz, initial capex C$150M. No more recent economic study has been published since -- the company's 2026 work has been drilling (Zone #9 extensions) and surface development for an approved 86,500 t bulk sample, not a re-costed economic study.