HSTR.V, SUM.V, OMG.V, SGD.TO, NCAU.V, SLVR.V, FURY.TO, ELE.V, LGD.TO, MERC.CN

 

This week’s interviews centered on a clear theme: companies with real catalysts are separating themselves from the pack. Heliostar Metals (TSX.V: HSTR) leaned into production, cash flow, and M&A with its Goldstrike acquisition; Summit Royalties (TSX.V: SUM) and Elemental Royalty (TSXV: ELE) highlighted scale and portfolio growth in the royalty space; Omai Gold Mines (TSXV: OMG), Snowline Gold (TSX: SGD), Newcore Gold (TSX.V: NCAU), Fury Gold Mines (TSX: FURY), and Mercado Minerals (CSE: MERC) focused on drilling, resource growth, and project advancement; Silver Tiger Metals (TSX.V: SLVR) and Liberty Gold (TSX: LGD) pushed the conversation toward construction and permitting.

 

Heliostar Metals (TSX.V: HSTR)

Cash flow meets ambition

• Record 2025 results showed nearly 35,000 ounces of gold production and more than $47 million in operating earnings.

• The Goldstrike acquisition adds a 1-million-ounce Utah deposit and gives Heliostar a strategic U.S. foothold.

• Management is framing the bigger picture around a bold long-term production goal, with current cash flow helping fund the next phase.

Listen to the Heliostar interview

 

Summit Royalties (TSX.V: SUM)

A royalty company scaling in a hurry

• Summit’s acquisition of Star Royalties is a major portfolio-building move for a company that only recently went public.

• The added 1% NSR on Saddle North pushes the portfolio to roughly 50 royalties and streams.

• The bigger story here is scale: a newer royalty name trying to jump quickly into the conversation with more established peers.

Listen to the Summit Royalties interview

 

Omai Gold Mines (TSXV: OMG)

High-grade hits keep feeding a much bigger story

• Omai continues expanding mineralization at Wenot as new drilling feeds into an updated combined resource and PEA.

• The current combined resource base already sits at 6.5 million ounces across all categories.

• What makes this one interesting now is the dual-track strategy: keep growing the deposit while also advancing the development case.

Listen to the Omai Gold Mines interview

 

Snowline Gold (TSX: SGD)

Can Snowline keep building while still swinging big?

• Management is balancing de-risking the Valley deposit with ongoing district-scale exploration in the Yukon.

• The Valley project continues to stand out for its grade and low strip ratio, even under lower gold price assumptions.

• This interview is really about capital allocation: how far can Snowline push development and discovery at the same time?

Listen to the Snowline Gold interview

 

Newcore Gold (TSX.V: NCAU)

Resource growth with PFS momentum

• Newcore’s updated Enchi resource now stands at 1.5 million ounces indicated and 626,000 ounces inferred.

• The focus is increasingly on open-pit constrained ounces that can support the upcoming PFS.

• The interview also gets into the mineralization mix and what the 60,000-meter drill program could still add.

Listen to the Newcore Gold interview

 

Silver Tiger Metals (TSX.V: SLVR)

From developer to builder

• Silver Tiger’s board has approved the construction decision for El Tigre.

• First gold-silver pour is targeted for December 2027, giving the market a much more defined timeline.

• The financing choice is also notable: management favored balance sheet flexibility over a larger debt package with tighter strings attached.

Listen to the Silver Tiger Metals interview

 

Fury Gold Mines (TSX: FURY)

The production path starts getting sharper

• Fury is now talking more directly about moving Eau Claire toward a PFS or FS over the next 12 to 18 months.

• Recent drilling continues to support both infill work and resource expansion, including standout high-grade intervals.

• With Committee Bay drilling set to begin soon, the company has both development and exploration catalysts in play.

Listen to the Fury Gold Mines interview

 

Elemental Royalty Corporation (TSXV: ELE)

Record numbers, bigger platform

• Elemental posted record 2025 revenue plus attributable Caserones share of US$49.2 million, up 128% year over year.

• 2026 will be the first full year reflecting the pro forma combination with EMX Royalty assets.

• Beyond the financials, the dividend policy and multiple avenues for external growth make this a more layered royalty story than just a quarterly recap.

Listen to the Elemental Royalty interview

 

Liberty Gold (TSX: LGD)

Selling non-core assets to sharpen the main bet

• Liberty is divesting Gage and Goldstrike to narrow its focus on Black Pine in Idaho.

• Management is emphasizing permitting alignment, including the interaction between state work and FAST-41 federal permitting.

• The interview frames Black Pine as the clear priority, with feasibility, engineering, and de-risking now front and center.

Listen to the Liberty Gold interview

 

Mercado Minerals (CSE: MERC)

A fresh silver drill story starting to unfold

• Mercado’s inaugural 3,000-meter campaign is targeting 25 holes at Copalito.

• Historical drilling is being folded into the targeting process, giving this first modern program more context.

• The really speculative upside is in the new vein discoveries and extensions that could reshape the scale of the story early.

Listen to the Mercado Minerals interview

 

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And send us your questions for the companies we interview, along with any companies you’d like us to feature in the future: Fleck@kereport.com and Shad@kereport.com.