Volcanic Gold Mines

What Volcanic Gold Mines does

Volcanic Gold Mines Inc. is a publicly listed junior mining exploration company headquartered in Vancouver, British Columbia, and incorporated in Canada (TSX-V: VG; Frankfurt: CKC1). The company is engaged in the identification, acquisition, exploration, and development of gold and silver mineral resources, holding a 60% interest (via an option agreement with Radius Gold Inc.) in two flagship projects in eastern Guatemala: the Holly Deposit, an advanced-stage high-grade gold-silver deposit with an inferred resource of 1.32 million tonnes at 6.46 g/t Au and 256 g/t Ag (270,000 oz contained gold and 11 Moz contained silver), and the Motagua Norte project, a bonanza-grade gold-silver quartz vein system discovered in October 2023. The company also holds an exclusive right to evaluate Radius Gold's broader 240,000-hectare application package spanning the prospective terrain between Pan American Silver's Escobal Mine and Bluestone Resources' Cerro Blanco project. Exploration is conducted through conventional methods including reverse-circulation and diamond drilling, stream geochemistry, and high-resolution airborne magnetic surveys, with a small in-house technical team and a Country Manager (Pedro Garcia) leading permitting and community engagement in Guatemala.

Volcanic generates no operating revenue and is pre-revenue from a product perspective; its revenue model consists entirely of equity financings. Capital has been raised through private placements and bought-deal underwritings, including a $5 million non-brokered private placement in July 2020 and an $8.6 million bought deal financing in October 2020 led by Haywood Securities with participation by Canaccord Genuity. Silvercorp Metals Inc. holds a 19.9% strategic equity stake acquired in 2020, with a board seat and pro rata participation rights. The company maintains a 1–10 employee headcount and has previously operated in West Africa (Guinea and Ivory Coast) before exiting both jurisdictions in 2018 due to permit and management-control issues. Its primary customer segments are retail and institutional precious-metals investors accessing the stock through TSX-V and Frankfurt listings, with strategic institutional investors (mining companies, investment firms) as a secondary segment and local Guatemalan communities as a social-license stakeholder group.

Name

Volcanic Gold Mines

Legal name

Volcanic Gold Mines Inc.

Website

https://volgold.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Volcanic Gold Mines is a pre-revenue junior mining exploration company that holds a 60% interest in the Holly and Motagua Norte gold-silver projects in Guatemala, funded through equity financings on the TSX Venture and Frankfurt exchanges and serving precious-metals investors.

Ownership category

akta.pro rank

Product category

Mineral Exploration Services

NAICS

Gold Ore and Silver Ore Mining (21222), Gold Ore and Silver Ore Mining (212220)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Precious Metals Exploration & Project Development (IMAKAEAI)

akta.pro secondary industry

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

Keywords

• Gold exploration services
• Silver exploration services
• Mineral resource development
• Junior mining company
• Precious metals exploration

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Others

Revenue model

1. Equity Financing: The primary revenue model is equity financing through public listings (TSX-V: VG, Frankfurt: CKC1) and private placements. The company raises capital through bought deal offerings and non-brokered private placements to fund exploration activities. Major financings include a $5 million private placement in July 2020 and an $8.6 million bought deal financing in October 2020.
2. Project Development and Monetization: Potential future revenue from developing mining projects and monetizing through joint ventures, sales, or production. The Holly project has an inferred mineral resource of 270,000 oz gold and 11 Moz silver with potential for underground mine development.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Volcanic Gold Mines is a junior mining exploration company engaged in the identification, acquisition, exploration, and development of gold and silver mineral properties. The company holds a 60% interest in the advanced-stage Holly Deposit (inferred resource of 270,000 oz gold and 11 Moz silver) and the Motagua Norte project in eastern Guatemala, with exploration activities including drilling, geophysical surveys, and resource estimation.

Product overview

Volcanic Gold Mines Inc. is a junior mining exploration company focused on building multi-million-ounce gold and silver resources in underexplored countries. The company operates a portfolio of exploration projects in Guatemala, primarily the advanced-stage Holly Deposit (high-grade gold-silver with underground mine potential) and the Motagua Norte Project (bonanza-grade quartz vein system discovered in 2023). Through a strategic option agreement with Radius Gold Inc., the company holds a 60% interest in the Holly and Banderas projects covering a significant land position in eastern Guatemala's prospective Volcanic Belt. The company also provides exploration services including drilling, permitting, and community relations.

Differentiator

Problem solved

Functional benefit

Products and services

• Holly Deposit
• Motagua Norte Project
• Banderas Project

Quantifiable outcome

• Holly project contains inferred mineral resource of 270,000 oz gold and 11 Moz silver
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core and historical.

• Radius Gold Inc. (TSXV:RDU)coreStrategic or Co-development Partner · 1 June 2020Volcanic executed an Option Agreement with Radius Gold Inc. to earn a 60% interest in the Holly and Banderas Properties in eastern Guatemala. Terms include completing a minimum C$3 million financing and spending US$7.0 million on exploration within 48 months from permit approval. Volcanic also has exclusive right for 24 months to evaluate other Radius property interests in eastern Guatemala. Following exercise, a 60/40 Joint Venture will be formed for further development.
• JOFEMA Mineral Resources SARLhistoricalStrategic or Co-development Partner · 5 March 2018Volcanic entered into binding MOU to acquire up to 100% of JOFEMA, a private company holding La Debo and Soubré exploration permits in Ivory Coast covering 600+ sq km. Volcanic withdrew from this acquisition in November 2018 after due diligence did not justify continuing.
• West African Mining Associates SARL (WAMA)historicalStrategic or Co-development Partner · 18 April 2017Volcanic entered into binding letter agreement to earn-in to an 80% interest in the WAMA Project adjoining Mandiana Project in Guinea. Project has since been impacted by permit renewal issues and administrative challenges with local government.
• SOGUIPAMI (Société Guinéenne du Patrimoine Minier)historicalStrategic or Co-development Partner · 19 January 2017Guinea government state entity holding 25% indirect interest in Guiord SA, Volcanic's Guinean operating subsidiary. SOGUIPAMI was formed for promotion of mining and exploration interests in Guinea. Volcanic holds 75% indirect interest in Guiord. Operations in Guinea have been suspended due to permit renewal challenges.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Silvercorp Metals: Profitable mid-tier silver-gold producer and Volcanic's 19.9% strategic shareholder with board representation. Comparable as a precious-metals operator sharing the same gold/silver exploration model and acting as Volcanic's natural strategic anchor.
• Fortuna Silver Mines: Mid-tier silver-gold producer with mines across Latin America, including Guatemala-relevant expertise. Comparable as a regional precious-metals incumbent that often partners with or acquires junior explorers of Volcanic's profile.
• Alamos Gold: Mid-tier gold producer with operations and development projects across the Americas. Comparable as a broader precious-metals incumbent whose capital allocation decisions and district-level interest in Central America influence Volcanic's strategic optionality.
• Pan American Silver: Major silver-gold producer operating the world-class Escobal mine in Guatemala, flanking Volcanic's land position. Comparable as the dominant precious-metals incumbent whose deposit boundary anchors the district's geological potential.

Direct peers

• Mila Resources: Sub-scale gold-silver exploration junior referenced in Volcanic's corporate materials. Comparable as a similarly capitalized, single-asset precious-metals explorer targeting drill-defined ounces through systematic exploration programs.
• Endeavour Silver: Mid-tier silver-gold producer focused on high-grade epithermal deposits in Mexico and similar Latin American jurisdictions. Comparable as a precious-metals operator with the same epithermal vein-system exploration profile Volcanic is pursuing at Motagua Norte.
• Radius Gold Inc. Direct counterparty and JV partner on the Holly and Banderas properties and the optionor's exclusive partner for the 240,000-hectare Guatemala land package. Radius is a comparable junior gold-silver explorer focused on Guatemala and Latin America with the same capital-markets driven exploration model.
• Bluestone Resources: Junior gold developer advancing the Cerro Blanco project in Guatemala, immediately adjacent to Volcanic's Radius-optioned terrain. Highly comparable as a sub-scale, single-jurisdiction, high-grade gold developer in the same district.

Regional players

• Argonaut Gold: Mid-tier gold producer with operating and development assets across the Americas, including projects in similar Central/American jurisdictions. Comparable as a regional precious-metals operator relevant to understanding Volcanic's eventual development economics.
• Aura Minerals: Mid-tier gold producer developing the Era Dorado project in eastern Guatemala just 40 km south of Holly. Comparable as a regional operator in the same jurisdiction whose construction license materially validates the district potential for Volcanic.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/volcanic_gold
• Facebookfacebook.com/volcanicgoldinc
• LinkedInlinkedin.com/company/volcanicgoldmines

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds4 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Volcanic Gold Mines