Michael Gentile’s $14M Bet on Galway Sends Palisades’ Position Up 67%

Some of the strongest signals in junior mining come from who is writing the cheques. On Tuesday, September 22, Galway Metals Inc. (TSX-V: GWM) announced a $14 million strategic flow-through financing led by Michael Gentile, a well-regarded strategic investor in the junior mining space. The market took notice, sending the stock up 67% on the news.

Gentile is a selective investor who backs a limited number of juniors, takes meaningful positions, and tends to hold them for the long term. This deal fits that approach: it will give him a 19.9% partially-diluted stake in Galway, and he has agreed to a 12-month lock-up, a clear sign of his confidence in Galway’s projects, people, and plan.

For Palisades, it reinforces a conviction we’ve held since November 2024, when we first became supporters and financiers of the company.

What Gentile Is Buying Into

Galway’s flagship is Clarence Stream, a 100%-owned, high-grade, open-pittable gold project in New Brunswick. The July 2026 mineral resource estimate outlines 2.71 million ounces: 1.42 million indicated ounces at 1.62 g/t and 1.29 million inferred ounces at 1.40 g/t. Drilling is underway to grow that number further, and a Preliminary Economic Assessment (PEA) is targeted for Q1 2027. That milestone should give the market its first clear look at the project’s economics.

The Bigger Picture

However you measure it, Galway trades at a discount to its peers on a per-ounce basis, and those ounces sit in Canada, one of the safest mining jurisdictions in the world. We’ve long believed it was only a matter of time before the market recognized that gap. Gentile’s arrival may be the moment it starts to close.

Galway is also a good example of how we invest more broadly. Through financings, we back companies with strong prospects, whether that’s a sizable gold endowment trading at a discount or an ambitious exploration program targeting prospective ground. We provide capital when it’s most needed and when few others are paying attention.

Then, as market conditions shift and strategic investors arrive with conviction in a particular story, as Gentile has with Galway, or Paes-Braga with Surge Battery Metals, those early positions can be rewarded. Spreading those bets across many stories gives us repeated exposure to moments like this one.

Our Position

Palisades currently holds a 5.1% partially-diluted stake in Galway through 7,231,482 warrants, with a volume-weighted average exercise price of $0.61 and a volume-weighted average expiry in August 2028. Once the financing closes, our stake will be 4.4% partially-diluted, keeping us among Galway’s largest holders.

We look forward to sharing more as news develops across our portfolio.

Sincerely,

The Palisades Team