In short: Consults for it and is a large shareholder from the first financing. Whitehorse Copper is "really a district," not just the old Hudbay Cowley Park pits; Cub East looks like a new discovery of high-grade open-pittable copper over 1%; fully funded 50,000 m program; ~$300M cap vs ~$30M when he came in. BlackRock's ~$25M lead order says a major-scale asset is the target — "like Arizona Sonora," bought by Hudbay.
Gladiator is a copper explorer drilling old ground right next to Whitehorse in Canada's Yukon. Hudbay, a big miner, dug several small pits there decades ago and left. Gladiator's bet was that the leftovers weren't the story — that the whole belt is a "district" with several more deposits nobody ever followed up on. Two and a half years of drilling has largely confirmed that, including a fresh discovery called Cub East where the copper grades run above 1%, which is high for a deposit you can mine from surface rather than underground.
Phillips is a paid consultant to Gladiator and one of its bigger shareholders, in since its very first financing — so this is his own book, and he says so. What he points at as outside confirmation is BlackRock leading a roughly $25 million placement: a firm that size doesn't write that cheque hoping a stock triples, it writes it hoping the company is sitting on something a major will eventually buy. His template is Arizona Sonoran, another copper explorer he owned before it listed, which Hudbay bought for about $1.5 billion.
The caveat he states himself: at roughly a $300 million market value, Gladiator has already moved a long way from the ~$30 million where he bought. The easy money is behind it; what's left is whether the district becomes big enough for a takeover.
7:45I financed that early on. I still own my shares even from their first financing. Gladiators developed their White Horse Copper. It's really a district. They have the Cali Park which was an old Hud Bay produced in several pits up there but Gladiator's main it's in in the Yukon and Gladiator's thesis going back three years ago and was that there's more than just this leftover Cali Park there's other areas that were drilled that were never followed up on this is a district and in the last two and a half
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