How Headwater Gold Avoids the Junior Mining Dilution Trap

Recorded on July 8 2026 live at the Rick Rule Symposium 2026 CSE HWG | OTC HWAUF Andy Millette sits down with Caleb Stroup, President and CEO of Headwater Gold Inc., to examine how a western United States project generator can pursue high-grade epithermal gold discoveries while protecting shareholder capital. Stroup explains why early-stage exploration requires a broad portfolio and repeated drilling opportunities, and how partnerships with Newmont, OceanaGold and Centerra Gold can supply major-company funding. He details Headwater Gold’s approach to balancing capital-market access with partner-funded exploration, management fees and selective self-funding. The discussion turns to the cost of capital,…