In this Business Breakdown, Ian Cassel and David Barbato sit down with Golconda Gold’s (GG.V/GGGOF) Chairman, Founder, and CEO, Ravi Sood. The company was originally profiled by Ian Cassel on August 28, 2025, at $0.95 USD/$1.30 CAD per share.

This discussion took place live on April 29th, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions - https://microcapclub.com/#join

In this follow-up conversation, Ravi covers the 2025 turning point at Golconda's Galaxy gold mine in South Africa, paying down the credit facility and unsecured note, repairing the balance sheet, and opening additional mining faces to push production from roughly 10k gold ounces in 2025, to 18k oz in 2026, and toward 30k oz by 2029. He walks through the planned June restart of the Summit mine in New Mexico under a capital-light contract mining model, the Banner mill ramp, and the longer-term resource and mill expansion potential across the Steeple Rock district. He also lays out the case for spinning Summit out as a standalone US-listed gold and silver producer beginning in late 2026, TSX Venture first, then OTC, then a full US listing, and shares his thinking on a programmatic VWAP buyback once Summit is de-risked.

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Chapters

00:00 Introduction to the Guests and Their Backgrounds

05:53 Transition from Fund Management to Gold Mining

11:43 2025 Financial Performance and Growth Strategy

19:56 Scaling Production and Financial Implications

25:46 Impact of Oil Prices on Operations

28:33 Restarting the Summit Mine

31:55 Outsourcing and Contract Mining Benefits

33:21 Mining Operations and Mill Setup

35:43 Cash Flow and Resource Expansion Plans

38:23 Permitting Challenges and Opportunities

41:04 Exploration Potential and Historical Context

46:46 Spin-Out Strategy for Summit

51:40 Path to Public Listing and Shareholder Value

55:27 Buyback Strategy and Financial Outlook

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