4Moz Gold Target in Quebec, But Is the Grade Strong Enough at Depth? | Radisson Mining CEO Interview

**SPEAKER_1** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today on the CEO BBQ, we're looking for gold in Quebec's Abitibi Greenstone Belt, together with Radisson Mining. But if you're short on time, subscribe to our free newsletter, and once a week, we'll send you a five-minute summary of all interviews we put out, resourcetalks.com for a free weekly newsletter. Now, although this company has paid us for the production of this video, you should still understand that we are not financial advisors, and this is not intended as financial advice. It is a broad, general, and in-personal piece of information intended only for those who know and understand the risks of junior mining, of which there are many. Before moving on, read the company's official filings on SitterPlus.ca and do your own due diligence. Pause the screen and read all the disclaimers I've shown you because your capital is at risk. If this isn't clear, go to the last section of this video for a longer explanation of the risks and biases, and do not consume this content if you don't agree with everything said therein. Moving on, this is not Radisson's first time on the CEO BBQ. I've interviewed Matt multiple times over the last two years, though the most recent interview I did with him was at PDC, but the most recent, like, decent barbecue was almost a year ago. So definitely do the update here. But if it is your first time hearing about the company, I'm gonna post a link to a playlist containing all the previous interviews with Radisson. Please watch those first, as we won't be covering the basics, and we won't be redoing the smell test and all that in here either. In a nutshell, though, Radisson's flagship asset is the 100% owned O'Brien Gold Project. That's a high-grade, organic gold vein system of quartz sulfide veins, hosted in the Piché group along the Cadillac Larder Lake break in Quebec.
It's very close to that town, by the way, too, about one kilometer north of Cadillac, along Highway 117 It's right in the middle of the Abitibi Greenstone Belt, roughly halfway between the Randa and Val d'Or. The most recent resource shows indicated resource of 630,000 ounces at about 5.5 grams per ton, as well as 1.7 million ounces of inferred at 5 grams per ton. And that's only 2.2 gram cut off. Right now, they're pushing on an aggressive 140,000 meter step out program with up to eight rigs.
That's already hit 1.9 kilometer vertical depth and it's testing the system, or the plunge of the system to a 2 kilometer floor, which of course we'll touch upon later on as well. Biggest near-term catalysts are of course, the ACI results that are expected throughout 2026 As you can imagine, it is a big drill program and also the first half of 2027 as well. That's gonna be followed by whatever resource update makes sense once they finish the meters and decide whether they really even want to do a resource in the first place or keep drilling or whether there's something else to be done, which of course we'll talk about later on as well.
Now for some of the numbers and a bit of the details, Radisson is listed as RDS on the TSX-V, where the three-month average daily volume is about 720,000 units. The stock's 52-week high is $1.24 and its 52-week low is 35 cents.
With a $485 million market cap, after the recent financing, now 452 million shares outstanding, today this is a $1.07 stock with a 50 and a 200-day moving average at, respectively, $0.96 and $0.78, which means the stock is now trading above those two. There are about 14 million, no, there are about 4 million warrants and 13 million options collectively representing only about 4% of the fully diluted 469 million shares. No debt, but at the end of the year last year, they had about $32 million in cash. And that recent financing that I mentioned was just closed last week, I believe, initially intended as a $20 million bought deal and ended up being a $25 million bought deal, all of which flowed through at $1.38. No warrants on that either. So how much money do they have left right now? How much will they have at the end of this program? And will they be back to the market again later this year? And a lot of other questions are, of course, on my list here today for this conversation. But for this to actually become a conversation though, I'm going to have to shut up already. And Matt, I'll let you do the talking. But first of all, thank you for sitting down with us today.