Interview with J.W. Dumont, President of Granada Gold Mine
Recording date: 21st October 2026
Granada Gold Mine Inc. (TSXV:GGM) owns the past-producing Granada Gold Project near Rouyn-Noranda, Québec, alongside the Cadillac Break in the Abitibi gold belt. The property produced over 51,400 ounces from two shafts between 1930 and 1935 and was worked again by open pit in the 1990s. Despite this history and a large resource, the company has a market capitalisation of C$7.95 million and has struggled to carry its strategies through to completion.
J.W. Dumont was appointed President on September 2026. He spent almost seven years in Côte d'Ivoire, where a mining-finance venture became an operating gold mine after its original model failed. At Granada, his mandate is a corporate turnaround built on capital discipline, more transparent communication and clearing legacy liabilities and reputational issues over the next three to 12 months. The board will be reshuffled, new strategic advisers added, and Dumont expects to become CEO if the market is receptive.
The 2026 mineral resource estimate reports 890,600 ounces M&I at 1.73 g/t and 865,500 ounces Inferred at 1.34 g/t which are 64% and 90% higher than in 2022. The increase came from raising the gold price assumption to about US$4,270 per ounce and lowering cut-off grades, not from drilling. No holes have been drilled since 2022. Gold traded near US$4,166 per ounce as of October 2026, so the resource's sensitivity to lower prices is a live question. Dumont said the aim is a resource that holds up at multiple price levels, but that analysis has not been published.
Drilling is the main lever. Granada applied for drill permits in October 2026 and plans infill to raise confidence in existing ounces, followed by extensions along strike and at depth. Dumont set an aspirational ceiling of 100,000 metres over two years, funded in tranches of 2 to 5 million. In practice he expects to start small. The scope, budget and schedule have not been announced.
The exploration case is clear on paper. Some 87% of historical drilled metres sit within one kilometre of the Granada shafts. The 1.9 km between the Aukeko and Austin-Rouyn shafts has no drill holes, and only 48 holes pass 500 metres. One hole returned 107.8 g/t gold over 4 metres from 617 metres beneath the main pit, though Dumont deferred questions on true width and continuity to his technical team.
Granada also holds optionality beyond drilling. A 2016 Certificate of Authorization covers four open pits. XRT ore sorting on a 500 kg sample delivered a 2.7-times grade uplift with 88% recovery, though the feed may not be representative. An Article 30 application for on-site gravity concentration remains in preparation, and DSO and toll milling are under evaluation with no agreement in place.
For investors, the case rests on execution. The key watch-items are the drill permit decision, the size and pricing of financing at C$0.035 per share against 227.3 million shares outstanding, the board and CEO changes, and early drill results from the eastern trend and the deeper zones.
Learn more: https://www.cruxinvestor.com/companies/granada-gold-mine
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