Interview with Matt Manson, President & CEO of Radisson Mining Resources Inc.
Our previous interview: https://www.cruxinvestor.com/posts/radisson-mining-tsxvrds-obrien-82-gold-resource-growth-drilling-continues-high-success-rate-10919
Recording date: 22nd Sept 2026
Radisson Mining Resources Inc. (TSXV:RDS) has secured a strategic anchor shareholder while keeping its exploration programme funded. Agnico Eagle Mines Limited bought 53,420,000 units at C$1.07, raising C$57,159,400 and taking about 10.45% of the common shares. Half a warrant per unit would lift its stake to about 14.90% on a partially diluted basis if exercised. The placement remains subject to final TSX Venture Exchange acceptance.
The company will use the proceeds to begin an underground exploration programme at its 100%-owned O'Brien Gold Project in the Abitibi region of Quebec. The centrepiece is an access ramp to about 300 metres vertical depth. Ore drives through mineralised zones will bring material to surface, but Radisson will not develop stopes or mining panels and does not call the work a bulk sample. Manson said the programme is meant to test continuity of mineralisation, ground conditions, dilution and the tonnes per day the orebody can support. Those variables determine whether a high-grade narrow vein deposit can be mined at a steady rate.
Timing matters for investors tracking catalysts. Permitting and preliminary engineering have started. Manson expects to break ground on the portal around the middle of 2027, with about 18 months of work to reach depth. The objective is to have the ramp in place for 2029. In parallel, the 140,000-metre surface programme runs on eight rigs, with a ninth planned for a hole to 2.5 km depth. A resource update is likely by the end of 2026, followed by another in 2027.
The current resource stands at 2.3 million ounces, made up of 0.63 million ounces indicated and 1.69 million ounces inferred, according to the company's release. Manson said similar mineralisation continuing to a 2 km floor points to 3 to 4 million ounces in total, and he sees upwards of 4 million ounces. Manson cites an 83% success rate for deep step-out holes from shows 98 hits from 120 holes.
Valuation is where Manson sees a gap. He put the shares at US$191 per ounce on 2.3 million ounces after a C$1.17 close, against takeouts at US$500 to US$600 per ounce over the past six months. Precedent transactions are imperfect comparisons, since prices reflect stage, grade and infrastructure access. Manson also said Agnico Eagle's stake is a level Radisson is comfortable with and that the stand-alone path remains the default. Any use of the LaRonde infrastructure is a future step to be considered.
Risks remain as narrow vein deposits depend on continuity, and underground development has to keep pace with any future mill feed. O'Brien is a 1920s mine site with an old tailings facility, and Manson said legacy issues must be addressed. The exploration target is unproven, and the commentary comes from a company executive with an interest in the outcome. Investors should watch the year-end resource update, exchange acceptance and the 2027 portal start.
View Radisson Mining's company profile: https://www.cruxinvestor.com/companies/radisson-resources
Sign up for Crux Investor: https://cruxinvestor.com/subscribe
