Greenheart Gold Executives Signal Strong Conviction as Exploration Momentum Accelerates

Greenheart Gold Inc (GHRT:CN) is a mineral exploration company with a market capitalization of approximately $251.38 million. The company is focused on the Guiana Shield, a geological region known to host several gold deposits but still relatively under-explored. The company is led by former Reunion Gold executives who contributed to the discovery of the Oko West deposit in Guyana. 

Insider Buying Underscores Confidence

On September 18, 2025, Executive Chairman David A. Fennell demonstrated strong faith in Greenheart’s prospects, acquiring 1,948,700 shares at CAD 1.20, an investment of nearly CAD 2.34 million that lifted his total holdings to 3.44 million shares.

Adding to this show of confidence, Senior Vice President Douglas A. Flegg made three separate purchases earlier in September, 44,000 shares for a total of over CAD 45,000, boosting his stake to 89,225 shares. This synchronized insider activity signals strong alignment from leadership as the company expands its exploration footprint.

About the Leadership Team

David Fennell, a veteran mining executive, has a long history of building and financing resource companies, while Douglas Flegg brings over three decades of capital markets and mining industry experience. Their leadership builds on the Reunion Gold team’s proven record of discovery and value creation, positioning Greenheart Gold for long-term success in the Guiana Shield.

Exploration Progress and Strategic Updates

In September, Greenheart announced the commencement of diamond drilling at both its Majorodam project in Suriname and its Tamakay project in Guyana. At Majorodam, trenching returned an encouraging intercept of 18 meters grading 6.39 g/t Au, while soil geochemical surveys at the Igab project in Suriname identified multiple targets slated for drilling later this year. The company also strengthened its technical team with the appointment of Timothy Stubley as Senior Manager, Exploration, adding more than 15 years of experience in global mineral exploration.

Financial Backdrop

As of June 30, 2025, Greenheart reported cash and equivalents of CAD 38.7 million, providing strong liquidity to advance its exploration pipeline. Total assets stood at CAD 41.9 million, with equity of CAD 40.5 million and minimal liabilities of CAD 1.37 million. The company posted a net loss of CAD 7.5 million for the six-month period, reflecting exploration and evaluation spending of CAD 4.55 million and continued investment in early-stage project development.

With a well-funded balance sheet, advancing drill programs, and strong insider conviction, Greenheart Gold is well placed to advance its projects and deliver progress across the Guiana Shield.