“With gold prices at an all-time high, regulators must make the necessary adjustments to advance profitable gold projects and capitalize on investor interest.”
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Can you tell us about the story behind STLLR Gold’s creation and its recent activities?
STLLR Gold was formed in 2024 through the merger of Nighthawk Gold and Moneta Gold, combining two of the largest undeveloped gold assets in Canada: the Tower Gold project in Ontario and the Colomac Gold project in the Northwest Territories. Both projects have the scale and technical foundations to support long-life operations with production potential exceeding 270,000 oz/y.
In 2025, we delivered a PEA for Tower and a MRE for our Hollinger tailings project in Timmins, two important milestones in advancing these assets toward development.
At Colomac, STLLR controls approximately 1,000 km² of a largely underexplored greenstone belt. The 2023 PEA for Colomac outlines a production profile of approximately 290,000 oz/y, highlighting Colomac’s long-term development potential.
Currently, our focus is advancing our Timmins portfolio, balancing a near-term cash flow opportunity with longer-term project development to build a scalable gold platform.
How did STLLR Gold bring a new approach to Tower Gold?
We rebuilt Tower from the ground up, anchored by a geology-driven model. Our work culminated in a robust PEA that outlines 5.2 million oz of gold production over 19 years. The revised mine plan demonstrates a large-scale open-pit and underground operation, with opportunities to expand as the project advances.
What drove STLLR Gold to develop the Hollinger Tailings project?
The decision to advance Hollinger was driven by a convergence of regulatory progress and record-high gold prices. The new ‘Recovery of Minerals’ regime in Ontario meaningfully streamlines permitting for tailings recovery projects, creating a clear pathway to responsibly unlock value from the residual gold in the tailings. With Hollinger, we have a well-defined asset located in an established mining district with access to infrastructure and nearby processing capacity. Our maiden MRE outlines 412,000 oz in the Indicated category and 93,000 oz in the Inferred category.
Because the material is already mined, sits at surface, and requires limited capital to advance, Hollinger could generate near-term cash flow at current gold prices while improving a historical environmental liability. The City of Timmins has demonstrated strong support for advancing the project, and the Ministry of Energy and Mines has been collaborative and engaged throughout the permitting process.
Are markets correctly valuing gold development companies after the 2025 gold price rally?
Gold appears to be breaking out of a decade-long period of underperformance, while many broader equity markets are increasingly vulnerable to correction. In that context, I believe gold-linked assets, particularly high-quality development projects, are still not being fully valued by the market and offer meaningful upside as capital reallocates toward hard assets.
How does Ontario rank as a jurisdiction for mining?
Ontario consistently ranks as one of the top mining jurisdictions globally, supported by a strong rule of law, deep technical expertise, established infrastructure, and a long history of responsible resource development. That being said, it takes too long to permit mining projects in Canada, and we have to fix this. The Minister of Energy and Mines, Stephen Lecce, is saying the right things, and we are hopeful his ambitions translate to an expedited permitting process in the future. STLLR Gold’s Timmins assets provide an excellent proxy for evaluating the promises and ambitions being put forward by the government. We have initiated permitting on our assets, and we are optimistic about the outcomes.
Should permitting reforms for critical minerals projects be extended to gold projects?
Permitting reforms should be guided by economic impact, environmental performance, and community outcomes—not solely by commodity classification. Gold projects generate significant tangible benefits: long-term employment, infrastructure investment, public revenues, and regional economic stability.
With gold prices at an all-time high, regulators must make the necessary adjustments to advance profitable gold projects and capitalize on investor interest.
What is in store for STLLR Gold in 2026?
We aim to bring positive news to the markets over the next 12-18 months. I would love to see shovels in the ground at Hollinger, which would demonstrate the province’s commitment to expediting permitting timelines, especially for environmental remediation projects. At the same time, we will continue to advance Tower Gold through environmental baseline work, targeted infill drilling, and strategic optimization.
Can you tell us about the story behind STLLR Gold’s creation and its recent activities?
STLLR Gold was formed in 2024 through the merger of Nighthawk Gold and Moneta Gold, combining two of the largest undeveloped gold assets in Canada: the Tower Gold project in Ontario and the Colomac Gold project in the Northwest Territories. Both projects have the scale and technical foundations to support long-life operations with production potential exceeding 270,000 oz/y.
In 2025, we delivered a PEA for Tower and a MRE for our Hollinger tailings project in Timmins, two important milestones in advancing these assets toward development.
At Colomac, STLLR controls approximately 1,000 km² of a largely underexplored greenstone belt. The 2023 PEA for Colomac outlines a production profile of approximately 290,000 oz/y, highlighting Colomac’s long-term development potential.
Currently, our focus is advancing our Timmins portfolio, balancing a near-term cash flow opportunity with longer-term project development to build a scalable gold platform.
How did STLLR Gold bring a new approach to Tower Gold?
We rebuilt Tower from the ground up, anchored by a geology-driven model. Our work culminated in a robust PEA that outlines 5.2 million oz of gold production over 19 years. The revised mine plan demonstrates a large-scale open-pit and underground operation, with opportunities to expand as the project advances.
What drove STLLR Gold to develop the Hollinger Tailings project?
The decision to advance Hollinger was driven by a convergence of regulatory progress and record-high gold prices. The new ‘Recovery of Minerals’ regime in Ontario meaningfully streamlines permitting for tailings recovery projects, creating a clear pathway to responsibly unlock value from the residual gold in the tailings. With Hollinger, we have a well-defined asset located in an established mining district with access to infrastructure and nearby processing capacity. Our maiden MRE outlines 412,000 oz in the Indicated category and 93,000 oz in the Inferred category.
Because the material is already mined, sits at surface, and requires limited capital to advance, Hollinger could generate near-term cash flow at current gold prices while improving a historical environmental liability. The City of Timmins has demonstrated strong support for advancing the project, and the Ministry of Energy and Mines has been collaborative and engaged throughout the permitting process.
Are markets correctly valuing gold development companies after the 2025 gold price rally?
Gold appears to be breaking out of a decade-long period of underperformance, while many broader equity markets are increasingly vulnerable to correction. In that context, I believe gold-linked assets, particularly high-quality development projects, are still not being fully valued by the market and offer meaningful upside as capital reallocates toward hard assets.
How does Ontario rank as a jurisdiction for mining?
Ontario consistently ranks as one of the top mining jurisdictions globally, supported by a strong rule of law, deep technical expertise, established infrastructure, and a long history of responsible resource development. That being said, it takes too long to permit mining projects in Canada, and we have to fix this. The Minister of Energy and Mines, Stephen Lecce, is saying the right things, and we are hopeful his ambitions translate to an expedited permitting process in the future. STLLR Gold’s Timmins assets provide an excellent proxy for evaluating the promises and ambitions being put forward by the government. We have initiated permitting on our assets, and we are optimistic about the outcomes.
Should permitting reforms for critical minerals projects be extended to gold projects?
Permitting reforms should be guided by economic impact, environmental performance, and community outcomes—not solely by commodity classification. Gold projects generate significant tangible benefits: long-term employment, infrastructure investment, public revenues, and regional economic stability.
With gold prices at an all-time high, regulators must make the necessary adjustments to advance profitable gold projects and capitalize on investor interest.
What is in store for STLLR Gold in 2026?
We aim to bring positive news to the markets over the next 12-18 months. I would love to see shovels in the ground at Hollinger, which would demonstrate the province’s commitment to expediting permitting timelines, especially for environmental remediation projects. At the same time, we will continue to advance Tower Gold through environmental baseline work, targeted infill drilling, and strategic optimization.
