Monteoro Minerals (MTAU) began trading on the TSX Venture Exchange on Nov 2, 2026, with a large Colombian land package, a well-known discovery team and no mineral resource yet. Monteoro Minerals stock is an early-stage bet on drilling at La Ruana, Marquesa and Nudillales.
Monteoro Minerals at a glance
| Project | Department | Commodity | Stage | Ownership |
|---|---|---|---|---|
| La Ruana | Not stated by the company (Middle Cauca belt, between Collective Mining’s Guayabales in Caldas and AngloGold Ashanti’s Quebradona in Antioquia) | gold, copper (silver, molybdenum) | advanced exploration; historical drilling; drill permits in place | Not disclosed in sources reviewed |
| La Marquesa | Antioquia | gold (silver, copper, molybdenum) | exploration; limited historical drilling | Not disclosed in sources reviewed |
| Nudillales | Not stated by the company (about 2–3 hours by road from Medellín) | copper, gold, molybdenum, silver | early exploration; undrilled; drill permits in place | Not disclosed in sources reviewed |
| Additional projects (Buriticá West, Mande Trend, Santa Elena) | Antioquia and other departments (not fully specified) | gold, silver, copper, zinc | early exploration | Not disclosed in sources reviewed |
| Share price | C$0.76 close on first day, Nov 2, 2026 (opened C$0.87; high C$0.87, low C$0.76; volume 85,100). Traded at C$0.80 on Nov 3, 2026 (10,000 shares, intraday). Source: Boursorama, delayed data |
| Market cap | About C$104 million at the C$0.76 close on Nov 2, 2026 (our calculation on 136.58M basic shares); refresh at publication |
| Shares outstanding | 136,583,838 basic; 153,328,686 fully diluted (Oct 29, 2026) |
| Cash | Not disclosed in sources reviewed. Gross financing proceeds C$10,007,100 (July 8, 2026), less a 6.0% agents’ cash fee on the brokered portion |
| Warrants and options | 7.3M options; 6,671,400 unit warrants at C$1.00 (36 months); 1,977,000 legacy warrants; 796,448 broker warrants at C$0.75 (24 months) |
| Escrow | 80,294,421 Principal shares (~58.8%) in TSXV escrow: 10% at final bulletin, then 15% every six months over 36 months; 3.5M seed shares released 20% per quarter |
| Major shareholders | No holders above 10% named in public releases; former Monteoro holders own ~99.27% in aggregate |
| Mineral resources | None on any project |
About Monteoro Minerals
Monteoro Minerals is a Colombia-focused gold and copper explorer. It went public through a reverse takeover (RTO) of 1287405 B.C. Ltd., a reporting shell that had never traded, rather than through an IPO prospectus. The deal closed on Oct 29, 2026, and the shares opened on the TSXV on Nov 2, 2026 as a Tier 2 Mining Issuer.
A concurrent financing raised C$10,007,100 at C$0.75 per subscription receipt, led by Haywood Securities. That was below the C$17 million maximum, and at a lower price than the C$0.85, first proposed in March 2026 (a C$5–17 million range). Each receipt became one share and half a warrant exercisable at C$1.00 for 36 months.
The company cites more than 1.2 million hectares of titles and applications in Colombia and six projects. The three flagships are La Ruana, a gold-copper porphyry cluster in the Middle Cauca belt with about 12,000 m of historical drilling; La Marquesa, a gold system about 10 km north of B2Gold’s Gramalote deposit in Antioquia; and Nudillales, an undrilled copper-gold-molybdenum target two to three hours from Medellín. Three earlier-stage projects are Buriticá West, the Mande Trend and Santa Elena.
The pitch rests on people. Board and management include CEO Robert Neill, Gustavo Koch of Koch Minerals & Trading, geologist Robert Shaw (formerly with AngloGold Ashanti at La Colosa and on Gramalote) and Marc Prefontaine (former CEO of Grayd Resources and co-founder of Orla Mining). The company says its team has been involved in Colombian discoveries totalling more than 50 million gold-equivalent ounces; that describes past careers, not Monteoro’s assets.
Monteoro Minerals’s Colombian projects
La Ruana
La Ruana has five gold-copper porphyry centres along a north-south trend of more than 3 km, plus epithermal gold-silver potential. A porphyry is a large, usually low-grade body of mineralization around an intrusion, often mined in bulk by open pit.
Solvista Gold and IAMGOLD drilled about 12,000 m there in 2012–2014 and spent about US$8.7 million. Highlight historical intercepts include 457 m at 1.24 g/t AuEq from 4 m and 323 m at 1.58 g/t AuEq from 3 m. The company calculates AuEq (gold equivalent) at US$3,378/oz gold, US$38.23/oz silver, US$4.79/lb copper and US$18.38/lb molybdenum, so today’s prices flatter results from a decade ago. These are historical results, not a resource, and true widths are not given.
A preliminary 2027 plan calls for about 5,000 m of drilling in holes of 300–400 m, to confirm historical holes, test continuity between them and drill new targets.
Resources: No mineral resource yet.
La Marquesa
La Marquesa is a district-scale gold system in the Antioquia Batholith, about 10 km north of B2Gold’s Gramalote project. The geological model is an intrusion-related gold system similar in family to Gramalote, though Gramalote’s ounces say nothing about Monteoro’s ground.
Past operators spent more than US$3 million on sampling, mapping, airborne geophysics, LIDAR and 1,475 m of drilling. Rock samples from more than 60 artisanal mines returned up to 82 g/t gold. Main targets are the Quebraditas trend (more than 3 km), San Pedrito (undrilled, with gold-copper-molybdenum soil anomalies) and the 4 km by 1 km La Maraña–El Baño–Juan Díaz trend. The many artisanal workings mean the company will share ground with informal miners.
Resources: No mineral resource yet.
Nudillales
Nudillales covers more than 12,000 hectares of exploration titles and applications. It is undrilled. Surface work has outlined a geochemical anomaly of at least 1,200 m by 400 m, open to the north, with a copper-in-soil trend of more than 1 km above 0.05% copper and a 600 m gold-in-soil trend above 100 ppb.
Best surface samples reach 1.1% copper and 9.3 g/t gold in soils, and 4% copper, 4.3 g/t gold and 0.6% molybdenum in rocks. Copper is strongest in the south and gold-molybdenum in the north, which the company suggests may point to a second porphyry centre. Surface samples are selective and do not indicate the grade or size of any deposit.
Resources: No mineral resource yet.
Additional projects (Buriticá West, Mande Trend, Santa Elena)
Buriticá West (more than 58,000 ha) lies about 10 km west of Zijin’s Buriticá mine in the historic Frontino and Abriaquí gold camps, with high-grade veins and only about US$200,000 spent. The Mande Trend (about 110,000 ha of titles and applications) covers a largely unexplored copper-gold porphyry belt. Santa Elena (about 2,000 ha of applications) is a copper-zinc-gold massive sulphide target where CuOro and a Hudbay joint venture drilled about 16,000 m in 2012–2014, with historical intercepts such as 102 m at 1.56% copper.
Resources: No mineral resource yet (Santa Elena results are historical).
Latest Monteoro Minerals news
- Nov 2, 2026: Monteoro began trading on the TSXV under MTAU. CEO Robert Neill and director Robert Shaw opened the market in Toronto. The stock opened at C$0.87 and closed its first session at C$0.76 on 85,100 shares, per Boursorama data. (Toronto Stock Exchange: Monteoro Minerals Ltd. (MTAU) Opens the Market (Newsfile via Les Affaires))
- Oct 29, 2026: Monteoro closed its reverse takeover of 1287405 B.C. Ltd. Subscription receipts converted into shares and warrants, leaving 136,583,838 shares outstanding. A Filing Statement dated Oct 26, 2026 was filed on SEDAR+. (Monteoro Minerals Ltd. Announces Completion of Reverse Takeover (Mining Stock Education / Newsfile))
- Jul 8, 2026: Monteoro and the shell signed their definitive agreement and closed a C$10,007,100 subscription-receipt financing at C$0.75, led by Haywood Securities. (1287405 B.C. Ltd. and Monteoro Minerals Announces Execution of Definitive Agreement and Completion of C$10,007,100 Financing (Manila Times / GlobeNewswire))
- Mar 31, 2026: Monteoro announced its proposed go-public transaction with a C$5–17 million financing at C$0.85 and described La Ruana’s historical drilling. (1287405 B.C. Ltd and Monteoro Minerals Announce Proposed Go-Public Transaction and C$17 Million Financing (GlobeNewswire))
Upcoming catalysts
- First drilling ‘at multiple targets in the coming months’ (company plan; no date)
- About 5,000 m preliminary 2027 drill program at La Ruana to confirm historical holes (company plan)
- 2027 exploration at San Pedrito and La Maraña–El Baño–Juan Díaz (Marquesa) and first drilling at Nudillales (company plan)
- First 15% Principal escrow release (about 12.0 million shares), around six months after the final bulletin (about May 2027)
- Likely follow-on financing once first results arrive (our expectation, not company guidance)
- C$1.00 unit warrants expire about November 2029
Management
- Robert Neill, CEO and Director
- Reem Chalhoub, CFO
- Richard Paolone, Corporate Secretary and Director
- Felipe Rodriguez Novoa, P.Geo., VP Exploration. Qualified Person
- Robert Shaw, Director and Technical Advisor. Geologist; formerly at AngloGold Ashanti’s La Colosa and on Gramalote
- Marc Prefontaine, Director. Former CEO of Grayd Resources; co-founder of Orla Mining
- Gustavo Koch, Director. Koch Minerals & Trading
Key risks for Monteoro Minerals stock
- Geology: no project has a mineral resource; La Ruana’s intercepts are historical (2012–2014) and reported on gold equivalent at current-era prices
- Title: the company does not separate granted titles from applications in its 1.2-million-hectare package; Colombian applications can take years or be refused
- Communities and security: artisanal workings at Marquesa and ground near Buriticá point to informal and illegal mining, which is often linked to armed groups in Antioquia
- Financing: about C$10 million gross funds a first drill season, not a resource on several projects; further dilution is likely
- Escrow overhang: about 58.8% of shares are escrowed and will be released in tranches from 2027; first-day volume was thin (85,100 shares)
- Disclosure: key details (cash, use of proceeds, major holders, technical-report findings) are in the Oct 26, 2026 Filing Statement rather than public releases
Sources
- MONTEORO MIN (MTAU) quote and daily history (Boursorama) (Nov 3, 2026)
- Monteoro Minerals Ltd. (MTAU) ouvre les marchés (Les Affaires / Newsfile) (Nov 2, 2026)
- Toronto Stock Exchange: Monteoro Minerals Ltd. (MTAU) Opens the Market (finanznachrichten) (Nov 2, 2026)
- Monteoro Minerals Ltd. Announces Completion of Reverse Takeover (Mining Stock Education) (Oct 29, 2026)
- Monteoro completion of RTO (Stockhouse) (Oct 29, 2026)
- Monteoro C$10M financing (Manila Times / GlobeNewswire) (Jul 8, 2026)
- Monteoro proposed go-public transaction (GlobeNewswire) (Mar 31, 2026)
- Minería en Colombia impulsa debut bursátil: Monteoro planea listado en Canadá (Bloomberg Línea) (Mar 31, 2026)
- Monteoro Minerals website: home and news (Nov 4, 2026)
- Monteoro: La Ruana project page (Nov 4, 2026)
- Monteoro: La Marquesa project page (Nov 4, 2026)
- Monteoro: Nudillales project page (Nov 4, 2026)
- Monteoro: Additional projects page (Nov 4, 2026)
- Monteoro: Projects overview page (Nov 4, 2026)
Related: Colombian stocks · Companies & Projects tracker · Colombian exploration companies
Educational information only, not investment advice. Figures are from the sources listed and dated; check the company’s latest filings before relying on them. See our Disclosure & Editorial Policy.