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Highlights
- Captivision engaged Hard Rock Consulting to reaffirm gold and precious metals reserves at the Montana Tunnels Mine.
- The reaffirmation will support Captivision’s proposed acquisition of Montana Tunnels Mining, Inc.
- The engagement also covers mine planning, rare-earth potential, and economic evaluation across Montana Goldfields assets.
Captivision Inc. (Nasdaq:CAPT) has announced the engagement of Colorado-based Hard Rock Consulting, LLC to reaffirm gold and precious metals resources associated with the Montana Tunnels Mine. The engagement supports Captivision’s planned acquisition of Montana Tunnels Mining, Inc., as the company prepares for a strategic repositioning within the gold mining sector.
Consulting Engagement Supports Planned Acquisition
On 30 December 2025, Captivision confirmed that Hard Rock Consulting, LLC (HRC) has been appointed to conduct a reaffirmation of the gold and precious metals reserves of Montana Tunnels Mining, Inc. and its principal asset, the Montana Tunnels Mine. The mine is a wholly owned subsidiary and asset of Montana Goldfields, Inc.
As previously disclosed, Captivision has entered into a letter of intent to acquire Montana Tunnels Mining, Inc. Upon completion of the transaction, Captivision plans to reposition as a diversified gold mining and related services business and to change its corporate name to Montana Gold Inc. (Nasdaq:MGI).
Scope of Work and Technical Review
The engagement with HRC covers a comprehensive technical review, including mineral resource and reserve updates, mine planning and optimization, and an evaluation of rare-earth potential. The scope also includes an overall economic evaluation of the Montana Tunnels Mine.
The reaffirmation of proven gold and precious metals reserves, together with mine planning and economic analysis, will be used in connection with the proposed acquisition. These assessments are intended to support the transaction process and future operational planning.
Hard Rock Consulting’s Experience with Montana Assets
Hard Rock Consulting specializes in geology and exploration, resource estimation, data management, strategic mine planning and design, and financial modeling and valuation. The firm’s principals have extensive historical involvement with Montana Goldfields, including prior mineral evaluations, mine planning, and operational activities at Montana Tunnels Mining, Inc.
HRC’s familiarity with the Montana Tunnels Mine spans the original mineral assessments and mining operations, providing continuity in technical evaluation as the asset undergoes further review. This background positions HRC to undertake the reaffirmation process using historical data alongside updated analytical methods.
Broader Montana Goldfields Portfolio Coverage
Beyond the Montana Tunnels Mine, HRC brings experience across the wider Montana Goldfields asset portfolio. This includes properties subject to Captivision’s right of first refusal, such as the fully permitted Diamond Hill mine, the permitted Golden Dream deposit, and three Elkhorn deposits.
HRC’s prior work across these assets has included permitting support, geological modeling, and resource development. The firm’s involvement extends across multiple stages of asset advancement, aligning with Captivision’s preparation for future mining activities following completion of the acquisition.
Strategic Transition and Future Direction
Captivision stated that the reaffirmation process forms part of its broader transition strategy following the proposed acquisition. Upon completion, the Company intends to operate under the name Montana Gold Inc., focusing on gold mining and related services.
