Galactic Gold is focused on the Hardrock West property in the Beardmore-Geraldton greenstone belt of northwestern Ontario, about 10 km west of Equinox Gold’s producing Greenstone mine near Geraldton. In this CEO interview, I asked about the pre-drill work they’ve been doing, the state of the treasury, the timing of a first drill program, permitting, First Nations relations, and the share structure.
TL;DR
Galactic is a roughly $10.5 million market cap explorer that went public via RTO in November 2025 and has never drilled its ground. Berry told me they’ve flown a roughly $700,000 VTEM and mag survey, compiled decades of fragmented historic data, identified six target areas with Sturgeon Bridge as the priority, and expect a small first drill program of up to $1 million later this year, subject to permits that haven’t landed yet. They have $1.4 million in treasury, and the CEO owns about 4 million shares personally, bought at 5, 10 and 25 cents. They will need to raise again for any meaningful drilling, and he said as much, talking about future programs of $5 million plus.
What have they done for shareholders lately?
No drilling yet, so the recent progress is all pre-drill work. They finished the helicopter VTEM and magnetic survey about six weeks before the interview, flown at roughly 75 metre spacing over the priority areas, and have now contracted Geotech for 3D modelling and further analysis, which he said takes two to three weeks. They spent three to four months compiling historic data, including hundreds of drill holes and thousands of surface samples, and have located about half the historic drill collars in the priority zones. They’re also working with Laurentian University’s Metal Earth group, which he says has spent about $8 million studying orogenic systems in the region. Crews are back on the ground now. He also pointed out that logging has exposed about 80 percent of the property, which cuts their trenching cost.
How much money do they have and what are they spending it on?
Treasury sits at C$1.4 million after closing roughly C$2 to 2.2 million at 25 cents in April and May with no warrants, on top of the C$1.8 million raised at 10 cents at the RTO, which was all free trading paper. The four month hold on the 25 cent shares comes off around September. Burn rate is about C$70,000 a month for G&A, management took no salaries pre-IPO, and the first drill program is budgeted at C$800,000 to 1 million. Do the math: $1.4 million minus a small drill program and monthly overhead means another raise is coming, and Berry openly said future programs would be in the C$5 million plus range funded by returning to the market, ideally again without warrants.
Upcoming catalysts
Technical: Geotech 3D modelling results on the VTEM and mag data, two to three weeks out. Additional mapping, sampling and prospecting results from ground crews through the fall.
Operational: exploration permits, which the Ontario government has told them are close. First drill program at Sturgeon Bridge targeted for September to October 2026, with assay results to follow.
Corporate: 25 cent financing becomes free trading around September. Conference appearances at Beaver Creek, an Ontario conference in September, and European marketing in November. A likely larger financing ahead of any substantial drill campaign.
Risks
The main near term risks are the ones CEO Berry acknowledged directly or that fall out of the numbers. Permits are not yet in hand, and the first program has already slipped from an original Q4 2025 target. There is no signed agreement with First Nations, only ongoing dialogue, and while he doesn’t foresee problems, nothing is formalized. The treasury only covers a limited first pass. The 25 cent paper coming free trading next month could pressure an 18 cent stock with thin volume, about 27,000 shares a day. Forest fires in the region are a wildcard he raised himself. And on the geology, I pushed him on how airborne EM finds thin, low sulfide, high grade quartz veins that historic work says dominate the western part of the belt, and the honest answer was that targeting methodology is still being worked out.
Galactic Gold CEO Interview
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