Inventus Mining’s Warrant Strategy and Pardo Gold Project: A Catalyst for Unlocking Value

Inventus Mining Corp. (TSXV: IVS) has positioned itself as a compelling play in the gold sector through its innovative warrant incentive program and progress at its flagship Pardo Gold Project. The company’s strategic execution of its early warrant exercise initiative, coupled with advancing bulk sampling and a key partnership with McEwen Mining (MUX), is creating a rare opportunity for investors to capitalize on undervalued gold assets. Below, we dissect how these moves mitigate risks, unlock near-term value, and set the stage for long-term growth.

The Warrant Incentive: A Low-Cost Capital Injection with Strategic Leverage

Inventus’ early warrant exercise program, which closed on May 16, 2025, saw warrant holders exchange 12.2 million warrants for shares at the original exercise price of $0.09, generating $1.1 million in gross proceeds. Crucially, participants also received 12.2 million Incentive Warrants exercisable at $0.12—a 33% premium to the initial price. This dual-structure design ensures Inventus secures immediate capital while retaining upside exposure through the Incentive Warrants, which expire in November 2026 unless triggered earlier.

The program’s $0.15 stock price trigger adds a critical strategic element: if Inventus’ shares close at or above $0.15 for 20 consecutive days, the Incentive Warrants’ expiry accelerates to 10 days after announcement. This creates a powerful incentive for the company to drive its stock price higher—either through market sentiment shifts or tangible project milestones—while aligning investor interests with the company’s success.

Pardo Gold Project: High-Grade Bulk Sampling and Geological Consistency

The Pardo Gold Project, North America’s first major paleoplacer discovery, is the linchpin of Inventus’ value proposition. Current activities include grade control drilling—50 shallow holes targeting near-surface mineralization—to refine resource estimates. Historical bulk samples from Pardo have delivered 3.4–4.2 gpt gold, a grade consistency that suggests robust economics for low-cost surface mining.

The project’s bulk sampling program aims to produce 45,000 tonnes of material, with processing now underway at McEwen Mining’s Stock Mill under a strategic MOU. This partnership eliminates capital expenditure on infrastructure, reduces operating costs, and accelerates the timeline for delivering metallurgical test results and feasibility data.

Strategic Synergies with McEwen Mining: A Model for Cost Efficiency

The McEwen partnership underscores Inventus’ operational pragmatism. By leveraging McEwen’s existing mill capacity, Inventus avoids the multi-million-dollar investment required to build its own processing facility. This not only preserves capital but also de-risks the project by tying its success to a proven operator. McEwen’s direct participation—exercising 9.2 million warrants—further signals confidence in Pardo’s potential.

Dilution Risks vs. Value Creation: A Calculated Trade-Off

Critics may cite dilution from warrant exercises, with 12.2 million shares issued by May 20. However, this is offset by the $1.1 million raised to advance high-potential exploration—a fraction of the project’s total value. The Incentive Warrants’ 2026 expiry also means any further capital raised through their exercise would occur at a higher price point ($0.12 vs. $0.09), diluting shares less severely.

The $0.15 trigger introduces a nuanced risk-reward dynamic: if achieved, it could accelerate Incentive Warrant exercises, potentially boosting short-term capital inflows but compressing the time horizon for investors. Conversely, failure to hit the trigger leaves the company with a stable capital base and extended optionality.

Catalysts for Investor Action: Near-Term Triggers and Long-Term Potential

• Bulk Sampling Results (Q3 2025): Metallurgical data from the 45,000-tonne sample will validate Pardo’s economics, potentially unlocking a path to production.
• Stock Price Trigger Activation: A sustained move above $0.15 would create urgency among Incentive Warrant holders, driving additional capital toward exploration.
• Pardo Resource Estimate Update: Refined drilling results could expand inferred resources, boosting the project’s valuation.

Conclusion: A Rare Alignment of Catalysts and Value

Inventus Mining’s combination of low-cost capital generation, high-grade gold assets, and strategic partnerships creates a compelling risk-reward profile. The warrant program’s structure and Pardo’s geological consistency position investors to benefit from both short-term catalysts and long-term growth. With shares currently trading below the $0.15 trigger and the company well-funded to advance its flagship project, now is a critical moment to consider a position in IVS.

The question for investors is clear: Will you act before the Incentive Warrants expire—or wait and risk missing the upside?