In short: Held since the resource was small; now ~2 million oz of high grade with Agnico Eagle's ~$60M investment for 10% "validating" it, an exploration target of 4 million-plus oz, and eight rigs "hitting almost every single hole" — "already a really exciting, profitable future mine" that adds ounces every day.
A Quebec gold explorer he owned from when its deposit was small. It has grown to about 2 million ounces of high-grade gold, and Agnico Eagle — one of the world's biggest gold miners — paid about $60 million for roughly 10% of it. The company is targeting more than 4 million ounces with eight drill rigs running. This is his favourite kind of story: already big enough to be a mine, and still getting bigger.
31:26When I first invested, it had 4,000 ounces [sic, as transcribed — likely 400,000] of really high grade. I said, "Not enough to be a mine yet, but lots of exploration upside." Then they got to a million ounces. I'm like, "Wow, this is getting really interesting." Then they got to 2 million ounces. I'm like, "This is a mine," right? And then Agnico's investment kind of is validating that.
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