Madoro Metals Corp.
Madoro Metals Corp. (Vancouver-headquartered; formerly Megastar Development Corp. until March 2021) holds 100% of the Cerro Minas gold-silver property (900 ha, Oaxaca, Mexico) and an option to acquire 100% of the First Green Lithium project (12,326 ha, Abitibi-Temiscamingue region, Quebec) plus a 50% interest in the Ralleau copper-zinc property (Quebec). No NI 43-101 resource estimate has been published for any of these. Also trades OTC as MSTXF and FSE as M5Q. Madoro signed a definitive agreement on 17 Jul 2026 for a proposed reverse takeover with Narrow River Resources Pty Ltd. (Madoro to acquire NRR's Quebec mineral assets via a Quebec subsidiary share purchase, issuing Madoro shares as consideration); on 29 Sep 2026 Madoro said it had filed the initial TSXV Policy 5.2 documentation, after whose review it can call the special shareholder meeting to approve the deal; completion also needs a concurrent private placement of up to C$1,230,000 and regulatory approval, and no closing date has been set. Trading in Madoro's shares has been halted by CIRO since 2 Feb 2026 pending the transaction.
Notable vs. Peers
- Jurisdiction risk score of 6/10 is meaningfully riskier than the peer average of 7.8/10.
Lifecycle Milestones
Jurisdiction (40%)6/10
The Cerro Minas property is in Oaxaca, Mexico, an established mining jurisdiction with a functioning permitting regime, a notch below Canada or Australia on federal mining-policy predictability and security; its other projects are in Quebec.
Infrastructure (40%)Not yet researched
No flagship project on file yet, so existing mill, road access, grid power, and tailings facility haven't been researched.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
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:8.5/10
Disclosed pending merger
A disclosed pending acquisition scores 10 and a merger 8.5; any other corporate action, none, or a deal in which the company is the buyer isn't scored.
Weight 26.25% · 50% here - 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: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:1/10
Stage: Grassroots Exploration
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 29% here - JurisdictionSub-score:6/10
Mexico: jurisdiction score 6/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 13% 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 Madoro Metals Corp. (since 2010) and a Director of T2 Metals Corp. Graduate engineer, M.Sc. (Dipl.Ing.), Slovak Technical University, Bratislava (1968); member of Engineers and Geoscientists British Columbia since 1977. Decades of international business experience across North America and Europe in corporate governance, financing, marketing and the administration of public companies, having served as a Director and Officer of numerous issuers listed on the TSX, TSX Venture Exchange, CSE and NASDAQ. Based in Vancouver.
Executive Chair and Director of Madoro Metals Corp. Began his career at RBC Dominion Securities in 1987, joined M&A advisory firm Goodrich Capital as Managing Partner in 1999, and later joined Windermere Capital as Managing Director.
Chief Financial Officer of Canasil Resources Inc. (TSXV: CLZ); also Chief Financial Officer of International Tower Hill Mines Ltd., Headwater Gold Inc., Pinnacle Silver and Gold Corp. and Madoro Metals Corp. and Chief Financial Officer & Director of Aloro Mining Corp. A CPA and CGA with over 28 years of experience in the junior sector, focused on finance and corporate governance; has acted as Chief Financial Officer for several publicly listed companies, including International Tower Hill Mines, and is recognised for his knowledge of finance and accounting matters for mining exploration companies. Currently a partner of Cross Davis and Company LLP Chartered Professional Accountants, specialising in accounting and management services for private and publicly listed companies in the mining industry.
President, Chief Executive Officer and Director of Pinnacle Silver and Gold Corp. (P.Geo); also a director of Madoro Metals Corp. Over 45 years' mining experience throughout the Americas; co-founded Great Panther Mining Limited, serving as its President & CEO from 2004-2017 and as a director until 2020. Joined Pinnacle as a Director in March 2018, was appointed CEO in January 2019 and President in October 2021.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Checked directly against the company's own site, which is live and current -- the company is in the process of a reverse takeover with Narrow River Resources, with a private placement also announced in May 2026. Narrow River Resources is not established as a producer or major, and no investor names were disclosed for the placement. No named specialist fund holds a disclosed position, and there are no insider trading records in our data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
A plain-language summary of this company's technical-report findings isn't written yet. See the cited figures on this page and the documents below.
No reports or presentations linked yet.