Mining Stock Education · Tuesday, October 20, 2026
Resource investor Simon Catt explains how he initially hesitated on Highcroft due to its high debt and low-grade metal, but later realized the company was making a high-grade discovery and needed balance sheet repair. Catt notes that despite the debt versus market cap challenges, uncovering high-grade drill results changed his investment thesis.
“it also had a bunch of debt on it. It had about $200 million of debt at the time, had a market cap of about $300 million. So it had a lot of debt compared to its market cap.”
“there was this astounding drill hole of about 20 meters at really high grades, like 20 grams gold equivalent, gold and silver.”