[music] This is the Investing News Network. I'm Georgia Williams and we're here in Toronto at PDAC 2026 and joining me today is Peter Van Alfin, president and CEO of Neuvo Minerals. It's nice to meet you. >> You likewise. >> How is uh PDAC going so far? >> So far so good. Day one is almost done. It's It's [laughter] true. Um I was wondering if you could tell us what your ticker symbol is and on what exchange you trade. >> So we trade on the the venture, the TSXV


and we are at NMC. >> Perfect. Um the company is focused on precious metals in Quebec. Can you tell us a little bit about your asset portfolio and give us a quick overview of the company? >> So so it's actually base metals and precious metals. And the reason I think the if anybody if you know the Matagami camp in Quebec so previously owned operated by Glenor and before that Extrada and Niranda before them and so it's a a historic base metal mining camp copper zinc being the focus and um it you know we believe


strongly has a a strong future in terms of near-term production exploration success on the base metal side and then on the precious metal side specifically gold is that the interesting thing with that property is we sit between two major structures um in the northern part of the Abbot Tibby with a massive land package almost 1,400 square kilmters and it's never actually been actively explored for gold. We've got anomalies on there. We have made two two gold discoveries on it already. But it's this


so you've got this historic base metal camp. You've got the exploration potential for base metals. Then on the on the gold side is it's a really it's an untested area and you know to our west is one of the largest gold mines in Canada Dour Gold and so you know we sit in this part of the Abatibby with this really untested gold gold exploration a very large land package >> right and um you've now met the work requirements to earn 100% interest in the Matamei project um what are the


final steps to complete this transfer from Glenor >> so we're in the thick of it right now and we um we've been working with Glenor with the Quebec government to ensure that we can trans transfer do the transfer as you say we've already we had spent the requirement money to do the earning and we've just been in the process and we're now literally on the verge of of um closing that with Glenor which will see us then own I don't know what it is 99.9% of what was Glenor previously um there's


There's a small portion there which is the mill and that mill we've then got a 2-year option to acquire that from Gleno as well. And so the first step now is to acquire all the claims. So we will now um be the 100% owner of all of the the claims as well as the two two of the past producing mines, Perseverance and Brace Mac Mloud. Brace Mac Mloud was the last mine to operate. That mine is still permitted. It's still the the key infrastructure still in place and we've discovered an extension to it. There's


still remaining resource there. So, we see that as part of our production restart story. And incidentally, one of our gold discoveries was a gold orenic gold system that we've discovered in the foot wall of that mine. It's early stage exploration, but in 25 m away from the ramp, we've discovered that there's actually some there's a there's a gold system there as well. So, it's it's a it's an exciting part of the camp, but we we can, you know, very very very shortly we'll officially say we are own


it 100%. >> That's exciting. >> It is very exciting. >> Yeah. Um and the company recently closed uh on February 24th a brokered private placement. Can you tell us where you plan to deploy that capital? >> Yeah. So, so the the the capital that was the first tranch of the financing is we're going to be closing the second tranch here very shortly in the next few days. Um, this portion of it, which was about $14 million, was was was going specifically around the closing of the transaction with


Glenor, as well as advancing the um technical work um engineering study work more so related to the um the the eventual production restart or the the the potential production restart on the property. And then we'll be closing the second tranch which will be almost exclusively focused on flow through financing. And that's going to then go into the continuation of the exploration on the property. And that will be a mix of both base metal as well as on um precious metal, gold exploration. >> Um sometimes with past producing assets,


they talk about repurp reprocessing some tailings or some historical digging. Is there any of that sort of stuff in your area? >> No, I I at this point at this point we're not we're not even considering that. you know the one of the issues with a camp and you know Glenor Glenor has been a great actually been a really great partner on this and they've they've helped facilitate something that you know probably in in a lot of cases makes makes these opportunities very difficult for a junior to come in and


when what I mean by that is that the tailings facility on this property are essentially it's essentially full I would say there's maybe on the critical mineral side when you start looking at that some of these sort of more sort of out their torium and these type of you know sort of lesser known commodities right now which are all on the critical minerals list but there might be something there in that but it comes with this massive liability and so you know I think you got to weigh that up


against each other and you know in this particular case we're very fortunate in that we in our agreement with Glenor we've actually been allowed to leave the tailings with Glenor and so they keep they they will continue with a closure of that and They'll take take care of the closure of the tailings and we have the opportunity just to take the mill infrastructure. We'll need a new tailings facility, but in terms of repurposing, reprocessing it, I would say no. You know, we we we haven't even


really looked at that. >> Yeah. >> Um >> and that makes sense if they're going to keep the tailings facility. >> Yeah. You know, maybe as a some sort of rehab type of project, you know, that's where I think there's might be some benefit to these these type of reprocessing um opportunities. But um you know it's this this I don't think is one of those. >> Yeah. And can you talk to us a little bit about the importance of having infrastructure and a mill accessible


>> three $400 million worth of capital that doesn't have to be spent. >> So in our agreement with GL again with Glenor that option that we've got is that we can acquire the mill and the tailings or mill and all the tailings for $5 million. So we yes we take on the liability that is exists with a mill but we have we then get the permitted infrastructure for $5 million. You know the infrastructure that we take over together with what we will now have already earned in on um you know I think


conservatively there's three $400 million worth of capital that doesn't have to be spent on it. So you know that that gives us this opportunity where we've got right now defined probably around about 10 10 12 million tons of resource. Mhm. >> We'll be adding to that resource, but you know, you need a lot of resource to justify spending that $300 to $400 million. We're fortunate. We don't have to do that. That infrastructure is there. So, that gives us a much easier,


clearer path to production and get getting the property back into production, which >> a lot of our peers aren't as fortunate. >> Yeah. And with existing permits already in place, does that make it easier to sort of bring it back? >> Yeah, 100%. I think, you know, I think obviously that that makes it easier. the infrastructurees there the you know and even we haven't spoken it's this is in Quebec and you know I think the we when when I look at the community around us in particular the the the town


of Matagami it was built it was built around the mine it was built for the mine there's there's not a question of you know can we go mining the question from the town is when are you going to start right and that's that's a huge thing for these for these type of products we're in a great neighborhood Quebec is great. You know, the government is responsive um and actively involved and yeah, there's no shortcuts around these things, but there's a willingness to to make this


happen, which is really incredible. >> And you mentioned Quebec and you know, it's one of the best mining jurisdictions in Canada and one of the best for gold. Um, and you mentioned your your community partners being excited. How much does that leverage, you know, your project to investors when, you know, do you have a community engaged and ready to work? Well, I think I think it's it's a it's a huge plus, right? Is that, you know, I would argue that, you know, you said it's one of the


best in Canada. I'd argue it's one of the best in the world. Um, and it really is, right? And and and Quebec all the way through to, you know, whether it's with um CDPQ, the case, which is a big investor in the company now. They participated as one of our lead orders in this recent financing. Um, we're getting great support from them. NQ Mining Investments, a smaller fund, but again, another one, one of those sort of the Quebec funds. Um, our relationship with Investment Quebec, right? Um, we're


we're growing that. We're looking to try and do something there with them. They don't just become an equity partner in this, but they also become that potential partner that, you know, where we can go for other financing because at the end of the day, you know, we share the same objective is we want to get the place into production. And you know from a a community point of view is that you know there's 4 to 500 jobs that get created right and and yes our shareholders will benefit from that but


the community the the region will benefit from it as well. So um it's a great place to to to to be working a great place to be to to to to be trying to build something like this >> and there's a great history of you know mining in Quebec. So there's that depth of knowledge that's so important when you're doing a project. >> Absolutely. And I think you know that the matagami is not although it's you know fairly far north relative it's far north in terms of Quebec is that you


know you're not far from Amos from Valdor from Ruan Niranda which are mining communities so you know whether it's expertise whether it's it's parts for equipment and things like that you're in you're in mining country right and and yeah the community as I say the community was built around the mines and so there's this acceptance there and there's a willingness and a and a desire to have and you know moving uh into 2026 what catalyst can investors be on the lookout


for? So I think the one that we on the very threshold of as we speak is you know the first one is going to be the actual closing of the earning with Glenor which has been you know we started the company 4 years ago now um almost exactly 4 years ago we started we we've only been publicly traded for just over a year and you know we we have achieved that big milestone in that you know we've got this huge land package that is now um going to be 100% owned by Nuvo. So we'll no longer have to talk


about this the option that we have. We don't have an option anymore. It is ours and that's a huge milestone and that will happen as I say it's imminent. Um and then it's going to be ongoing drilling. We we looking to close on about it'll be five plus we we expect the the flow through financing to be probably closer to about $7 million. That'll go into next year and that's going to be a balance somewhat of a balance between gold and and base metal. And so we've got a number of targets


there that we'll be going after both again base metal and and gold targets. So you know we expect to have um a drilling program here started up here very shortly. And then the other piece is going to be around the d-risking and the ongoing technical work around updating a PA. So later this year we'll update our PA to include the pass producing Brace Mac Mloud mine. We're going to add to resources there. we can expect to see a nice increase in the in the amount of resource that we have from


the property. Uh, one discovery renaissance, we'll be putting that into resource as well. Um, and so yeah, so it's it's largely around the technical work, upgrading resource, upgrading PA, and then um, ongoing exploration. >> Well, congratulations on uh, completing the earning agreement and your financing. >> Thank you. >> Um, it was lovely to speak with you, Peter. >> Thank you very much. Thanks for your time. >> Absolutely. I'm Georgia Williams and


that was Peter Van Elfin with Neuvo Minerals. [music]