Video summary

Robert Vallis of Tiger Gold Corp. presents at Metals Investor Forum in Vancouver | Sep 2026

Main summary

Key takeaways

Business

Company overview & value-creation thesis

  • Tiger Gold is a relatively new public company, with an IPO in 2015 at ~$50M market cap, later reaching ~$100M nine months after IPO.
  • The strategy is to create shareholder value through:
    • Strong management
    • Disciplined capital deployment
    • Expanding and “crystallizing” resources into scalable production assets

Management team positioning

  • Robert Vallis (management lead / Speaker): a mining engineer and businessman with experience from major gold mining companies.
  • Operations Director: a metallurgist and businessman.
  • Emphasis is placed on both:
    • Corporate capability
    • On-the-ground execution
  • The company highlights an inherited team, described as former Anglo employees, with local area knowledge.

Geographic / market positioning (execution-focused)

  • Operations are in Colombia, centered on the Mid-Caucasian Belt (“elephant country”).
  • The presentation frames the business environment as:
    • Tier-one jurisdiction characteristics, with comparisons to Nevada, Abitibi (Canada), and West Africa (with respect to production potential)
    • A new center-right government described as supportive of mining and facilitating permitting through a smoother process

Concrete operational readiness factors (project “buildability”)

The company uses infrastructure and access as investment justification:

  • Asphalt Highway 29 (north–south) with paved access roads to facilities
  • Proximity to Conseil[a] city (population ~50,000)
  • Nearby power grid, water sources, and “very loyal stakeholders”

Execution framing emphasizes the prerequisites needed for predictable, reliable production, supported by a cost/return posture of:

Low capital costs, low operating costs, and high returns (company-stated case)

Key metrics & financial targets/KPIs mentioned

Project economics (PEA assumptions and results)

Using a gold price of $2,650:

  • NPV after tax: > $500M
  • IRR after tax: > 36%

Company-stated adjustment to “today’s prices”:

  • NPV approaching ~$2B
  • IRR up to ~50% (after tax)

Capital strategy & drilling throughput

  • Funding/investment pace:
    • >$45M raised in capital in 9 months of operations
  • Drilling approach:
    • 3 drilling rigs since going public at the end of the previous year

Drilling volumes:

  • >18,000 meters completed (with 3 rigs initially)
  • Program expansion began end of June:
    • ~19,500 meters planned for the next phase, finishing early November
    • ~15,000 meters aimed at the new discovery Sib-Bell

Resource targets & production targets

Resource pipeline and growth:

  • Historical resources acquired: ~2.5M ounces (TerraCite/Miraflores referenced)
  • Conversion progress: 2.0M ounces converted into current proven resources (as stated)
  • Near-term growth target:
    • Double resources from ~2M to at least ~4M ounces by end of this year
  • Planned reporting (timed next steps):
    • In Q1 next year, publish two new MREs:
      • Candelaria (new)
      • Tessa Rito (updated/expanded)
    • Also publish an updated PEA at end of Q1

Production trajectory:

  • Targeting >140,000 ounces/year by end of last year (stated baseline)
  • Updated PEA expected to show “more than double production” versus that baseline (timed with end of Q1 publication)

Resource growth playbook (execution steps the company is following)

  1. Acquire and secure project land/property
    • Company states it acquired the property and owns 100%.
  2. Drill to expand discoveries and upgrade categories
    • Drilling supports:
      • Expansion of known systems (e.g., Candelaria “huge expansion”)
      • New discoveries (e.g., Sib-Bell, Dos Cabradas)
  3. Convert inferred → estimated → confirmed
    • Example: at Candelaria, sequential work targets upgrading resource category (from inferred toward more certain categories).
  4. Move to engineering studies
    • Prepare for PFS (Preliminary Feasibility Study)
    • Engineering work starts now
    • PFS in the second half of next year
  5. Publish catalysts on a timed schedule
    • Focused catalysts:
      • Complete drilling
      • Release initial resource estimate for Candelaria
      • New estimate for Tessa Rito
      • Updated PEA by end of Q1

Concrete examples / projects mentioned (with what’s being done)

Miraflores / Terrerito / TerraCite (PEA basis and permitting readiness)

  • Miraflores
    • Stated as fully permitted for construction and operation from mid-2024
  • PEA completed late last year
    • Focus included Miraflores and Terrerito (where ~2.5M ounces are located)
  • Scale change impact
    • When the Miraflores permit arrived “as we arrived,” the project perspective shifted/expanded after the Terrerito discovery

Sib-Bell (new discovery focus of drilling)

  • The expanded program targets ~15,000 meters on Sib-Bell
  • Presented as “the main slide” for understanding the current situation

Candelaria (expansion + resource upgrades)

  • The company reframed Candelaria’s potential:
    • Initially had 5–8 wells when acquired
    • Now characterized as a major expansion of the gold system
  • Drilling staffing:
    • 2 rigs currently operating
    • 3rd rig planned to move from one Candelaria facility to another
  • Planned engineering milestone:
    • Prepare for a pre-feasibility study by mid-next year
  • Resource doubling logic:
    • Candelaria is claimed to be “at least as large” as a referenced comparison, implying at least ~1.5M additional ounces
    • Used to support growth from ~2M → ≥4M ounces

Neighboring / regional momentum (competitive positioning via scale potential)

  • 25 km away
    • Aris Mining – Marmato
      • ~250,000 oz/year, increasing to >500,000 oz by end of year
    • Collective Mining – Guayabales
      • First reserve estimates released recently (details not quantified in subtitles)

The company argues that central infrastructure/logistics advantages emerge if multiple large deposits exist nearby, citing a “big players salivate” framing.

Leadership / governance & ownership posture

  • The presentation references discipline in capital structure and shareholder alignment:
    • Over 50% of the company is in strong hands (no named shareholders provided in the subtitles)

Presenters / sources

  • Robert Vallis of Tiger Gold Corp. (primary speaker)

Original video