Liberty Gold Rules Out a Sale Strategy as Black Pine Advances | Jon Gilligan

Jon Gilligan, President & CEO of Liberty Gold, joins Kitco Mining’s Paul Harris at the 2026 Precious Metals Summit in Beaver Creek following the feasibility study for the Black Pine oxide gold project in Idaho, which outlines a $411 million initial build, a 16-year mine life, and average life-of-mine production of roughly 177,000 ounces of gold per year.

Gilligan says Liberty has deliberately shifted from explorer to builder, with detailed engineering already underway and roughly 50,000 to 60,000 engineering hours planned as the company prepares Black Pine for a potential construction decision. The project is progressing through the U.S. Fast-41 permitting process, with the current timetable targeting a final Record of Decision in January 2028.

Liberty is also opening financing discussions around debt, streaming and equity, with Gilligan targeting greater clarity on the funding package by mid-2027 while remaining conscious of dilution. He discusses a potential future U.S. listing, an up to 50,000-meter 2026 drill program, and why Liberty is focused on building Black Pine rather than seeking a sale. “We're not out looking to be taken out,” he says.

Special thanks to our sponsor, Newcore Gold. To learn more, visit: https://newcoregold.com/

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00:15 - Black Pine Feasibility: $411M Build, 16-Year Mine Life
01:44 - Liberty Gold’s Pivot From Explorer to Builder
04:59 - Detailed Engineering and Construction De-Risking
06:47 - Tariffs, Diesel and Long-Lead Equipment Risk
10:05 - Fast-41 Permitting and the January 2028 Timeline
14:11 - Financing the $411M Black Pine Build
17:42 - NYSE or Nasdaq? Liberty Weighs a U.S. Listing
19:58 - Build Black Pine or Consider a Takeout?
22:02 - 50,000m Drill Program and Exploration Upside
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Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.