Inventus Mining (TSXV:IVS) - Sprott-McEwen Backing, Self-Funding Gold Development in Ontario

Interview with Wesley Whymark, Director & CEO of Inventus MiningRecording date: 1st March 2026Inventus Mining is doing something most junior gold companies cannot: generating cash from its asset before it has a formal resource estimate, and using that cash to fund its own growth. At its Pardo Paleoplacer project in Ontario, Canada, the company extracts gold-bearing conglomerate from surface, crushes it on-site, and trucks it to McEwen Mining's nearby mill under a pre-sale arrangement. The first bulk sample returned approximately two dollars for every dollar invested. That single data point separates Inventus from the majority of its peers, who depend entirely on shareholder capital to advance their projects.The geology underpinning this model is straightforward and well-understood. The Pardo Paleoplacer project targets a conglomerate reef averaging 2 metres thick and grading 2.5 to 3.5 grams per tonne gold, sitting at or near surface. Drilling costs are low — a single rig can complete two to three holes per day at the current target depths of 0 to 50 metres. Gold recoveries at McEwen's mill are running in the mid-90% range, with 70% of gold captured in the gravity concentrate alone. The metallurgy is not a question mark here. It has been tested at scale through the bulk sampling program itself.The company has now completed 30,000 of its permitted 50,000 tonnes of bulk sample. With 20,000 tonnes remaining, management is prioritising grid drilling to define a maiden mineral resource estimate, targeted for Q3 2026. That resource estimate is the most important near-term event for investors. It will be the first time the market has a formal, independently verified number to attach to the asset, and it will form the basis of the subsequent production permit application targeting 200,000 tonnes of material. Ontario's permitting framework is efficient — once a third-party environmental report is submitted, Ministry approval can come within 45 days. A permit submission is targeted for late 2026, with production potentially commencing in early 2027.The shareholder base adds a further layer of conviction. Eric Sprott holds 16%. McEwen's founder personally holds 17%. McEwen Inc. holds approximately 10%. Together, these three positions account for roughly 43% of the company. These are not passive holders — McEwen's mill is the processing partner, and Sprott has been involved since approximately 2013. Their continued presence signals that those closest to the asset continue to believe in its scale and economic potential.Ore sorting represents the most significant unpriced optionality in the story. A 2018 scoping study showed XRF particle sorting could recover 93% of the gold from just 40% of the mined material — a 160% uplift in mill feed grade and a meaningful reduction in trucking and processing costs. Modern XRF sorters can now process 40 to 120 tonnes per hour, making commercial-scale deployment viable in a way it was not when the study was first conducted. Bulk-scale testing is planned, and the results will be a key secondary catalyst.The risks are real but manageable. McEwen's mill pace has been slower than hoped. The resource remains undefined. Modest additional capital may be needed. But for investors looking for gold exposure through a near-production junior that funds itself, operates in a top-ranked jurisdiction, and carries endorsement from two of the resource sector's most credible names, Inventus Mining presents a case worth examining closely.View Inventus Mining's company profile: https://www.cruxinvestor.com/companies/inventus-mining-corpSign up for Crux Investor: https://cruxinvestor.com