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This was an interview with Jeff Wilson, CEO at Precipitate Gold. We talked about their gold exploration work in the Dominican Republic, mainly across their flagship project and the Pueblo Grande project, while also touching upon secondary projects that are earlier stage. The core topics were what they actually got done in 2025 (mostly low-cost groundwork), why the stock moved so much, the recent financing, and what a drilling-heavy 2026 is supposed to look like in terms of targets, timing, and execution constraints.
TL;DR
Jeff told me he chose to stay conservative in 2025. Boots-on-ground geochem and then IP surveying to mature targets without blowing millions while nearby permitting/community issues made the ROI feel poor. The big change for 2025 is funding and intent. Precipitate announced a C$6.5M private placement (Dec 29) and closed it fast (Jan 9), taking cash to about $9M, with another ~$4M potentially coming from in-the-money warrants if exercised. The plan is to be drilling by the end of this quarter, likely starting at Pueblo Grande (permitted, easier access) and then moving to the flagship project for a sustained program that could run at least ~6 months.
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- What have they done for shareholders lately?
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In 2025 they advanced targets via mapping/sampling and reported new geochemical anomalies mid-year, then ran ground IP over 5 target areas in H2 2025, with the last IP results reported in early 2026. At Pueblo Grande, after Barrick spent ~US$7.2M over 5 years under an earn-in and then walked away, CEO Wilson said Precipitate re-reviewed the dataset, ran follow-up geophysics, and defined a large chargeability anomaly. They modelled it against historic drilling and said there isn’t a single drill trace through that anomaly yet, which is why they’re calling it drill-worthy, while also admitting “these things can break your heart” because it’s still just a geophysical anomaly until drilled.
– - How much money do they have and what are they spending it on?
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They now have about $9M cash. Jeff described the financing terms as improved versus standard by cutting it to a half-warrant, shortening warrants to 18 months (from 2 years), and adding a 6-month hold (vs 4 months). He estimated warrant proceeds could add about $4M if fully exercised and said that gives them enough runway for ab aggressive 12 to 18 month plan, including potentially up to 20,000 metres of drilling, though he gave that number more as anambition, and less as a final plan. For budget color, he framed Pueblo Grande as a ~C$1M drill test (roughly 3 to 6 o 7 holes, maybe 400m depth), and separately suggested a broader ~$5M exploration/drilling campaign over the next 12 months, with marketing/IR at about 10% of spend.
– - Upcoming catalysts
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Technically, the final target ranking (VP Exploration Michael Moore was in the field doing boots on the ground checks) and then first-pass drilling, with the goal being drilling by the end of this quarter, plus potential lab results from a backlog of lower-priority soil samples from a past 17,000-sample program if they decide to submit more. Operationally, choosing between two drill contractors (no contracts signed yet), starting with one rig, and managing assay lab turnaround so they’re not drilling blind. Corporately, possible additional cash from warrant exercises over the 18-month window, and a step-up in conferences/communications spend to match drilling newsflow.
– - Risks
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Jeff repeatedly circled back to community and permitting friction in the Dominican Republic as the practical near-term risk, emphasizing that opposition can derail timelines even if government support exists on paper, and he flagged NGO/outside-actor agitation as a recurring problem. On execution, he flagged service-provider constraints (rig availability, assay lab capacity) and the reality that moving man-portable drills around steep terrain takes time, so schedules can slip even in a bull market. On the geology side, Pueblo Grande is explicitly a big, strong IP anomaly with the right surface geology but still untested, meaning it’s binary until holes go through it. More broadly, CEO Wilson admitted the share price may be running partly on speculation ahead of drill results, though he still believes they can deliver.
Precipitate Gold CEO Interview With Jeff Wilson
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