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This was an interview with Hratch Jabrayan of Galloper Gold about the company’s Glover Island project in western Newfoundland, focused on gold with a possible copper/VMS angle. I asked him about near-term execution, and he spent most of the time on the 2026 work plan, funding, capital structure cleanup, timing for drilling, and what could go wrong before results hit.

TL;DR

Hratch told me they are funded for near-term work after a recently closed C$2.5 million raise. The main story here is an updated 43-101 resource work first, then likely geophysics/surface work, then drilling in 2026, with a minimum drilling target of roughly 5,000m this year. He also said he does not want another hard-dollar raise in 2026 and would prefer flow-through funding for drilling, plus he hinted at an unspecified corporate development but gave no details.

What have they done for shareholders lately?
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CEO Jabrayan said the past year was spent cleaning up the company structure, removing weak/cheap paper from the register, rebuilding the board/management setup, and getting the company into position to finance properly, which he linked to the rough trading period in early 2025. On the project side, he pointed to the earlier ~2,000 m Lucky Smoke drill program, ongoing targeting work on Glover Island, and the newly started work to update the historic 43-101 resource estimate as the immediate concrete steps now underway.
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How much money do they have and what are they spending it on?
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They now have slightly less than C$2.5 million left after fees on the recent financing. Hratch told me that cash will go to the updated 43-101 work and other pre-drill technical work, but he does not intend to use much of it for drilling, because he wants to avoid another hard-dollar raise in 2026 and instead look at flow-through or charity flow-through for drilling. Jabrayan also estimated roughly C$1.5 million for G&A and marketing over the next 10 to 12 months.
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Upcoming catalysts
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Technically, Hratch said the updated 43-101 resource estimate work is underway now and could produce an outcome by late March or early April 2026, with possible geophysics and some sampling in the next couple of months to tighten targets between the historic zone and Lucky Smoke. Operationally, he said they expect to start drilling in 2026, ideally around early Q2 after pre-work, with assay turnaround described as about six weeks from lab submission, which would point to initial assay news around mid to late Q2 if drilling starts in early Q2. Corporately, he mentioned potential additional news tied to something “substantial” behind the scenes, but he gave no specifics or timing beyond saying they expect a steady stream of material news over the next six to eight months.
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Risks
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The clearest short-term risks are execution and financing, not geology alone. Management decision quality, getting the sequencing right, and making sure they can fund drilling on acceptable terms without relying on another hard-dollar raise. Other near-term risks Hratch acknowledged were normal field and drilling risks (weather, fog-related helicopter delays, operational issues, human error), plus the need to stay on top of work commitments and timing while advancing the exempt mineral land area, even though he said government engagement and permitting have been smooth so far.

Galloper Gold CEO Interview

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