TSXV RVG, OTCQX RVLGF
Recorded on December 9, 2025 in Atlanta, Georgia.
In this special #Millettian conversation, host Andy Millette sits down with Hugh Agro, Founder, President and Chief Executive Officer of Revival Gold, a gold mine developer advancing two brownfield projects in the western United States. Revival Gold controls the Mercur Gold Project in Utah and the Beartrack-Arnett Gold Project in Idaho, together representing a multi-million-ounce gold resource base with the goal of building long-life heap leach production in top-tier jurisdictions.
Hugh walks through the Mercur Preliminary Economic Assessment, which outlines a shallow open-pit, heap-leach operation targeting roughly 100,000 ounces of gold per year with strong capital efficiency and solid economics at today’s gold prices. He explains how the team plans to back that study with infill and step-out drilling, and why management believes the combination of Mercur and Beartrack-Arnett could ultimately support meaningful gold production from low-capital brownfield platforms.
From there, the discussion shifts to scale and leverage. Hugh and Andy break down how only part of the current resource is captured in the Mercur case today, why the portfolio represents exposure to roughly twenty-four billion dollars of gold in the ground at current prices, and how even a small change in the gold price can have a major impact on net asset value for shareholders.
Jurisdiction and risk are front and center. Hugh explains why Utah and Idaho are among the most attractive mining jurisdictions in the world, how both states understand the economic benefits of responsible mining, and why refined gold is the single largest product by value coming out of Utah. He also touches on permitting on largely private land, the importance of existing power and road infrastructure, and why the team believes the projects have clear paths through state and federal processes.
Andy presses Hugh on capital discipline, financing strategy and insider alignment. They cover the recent equity financing with strategic investors, the plan for managing dilution as the company moves toward future construction decisions, and why Hugh and his team continue to buy shares alongside institutional backers. Along the way you get a candid look at Hugh’s track record with major mining companies, what he has learned from past cycles, and how that experience shapes Revival Gold’s approach to risk and growth.
Full disclosure: Andy is a shareholder in Revival Gold, is actively buying more shares over time, and Revival Gold is a sponsor of Natural Resource Stocks content. This interview is for informational purposes only and is not investment advice.
In this interview you’ll hear about Mercur PEA highlights, the role of Beartrack-Arnett alongside Mercur, how leverage to the gold price can drive changes in net asset value, why Utah and Idaho stand out for responsible gold mining, and how capital strategy and insider alignment fit into the broader #Millettian thesis.
Revival Gold links:
Revival Gold website: https://revival-gold.com
Mercur Gold Project overview: https://revival-gold.com/mercur-gold-project/
Beartrack-Arnett Gold Project overview: https://revival-gold.com/beartrack-arnett-gold-project/
Host and channel:
Host: Andy Millette, Natural Resource Stocks
Website: https://www.NaturalResourceStocks.net
YouTube main channel: https://www.youtube.com/@NaturalResourceStocks
YouTube clips channel: https://www.youtube.com/@NaturalResoureStocksClips
X: https://x.com/theandymillette
LinkedIn: https://www.linkedin.com/in/andymillette/
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