Company Interviews

Interview with Andrew Benitz, CEO of Jersey Oil & Gas PLCRecording date: 12th February 2024Jersey Oil & Gas has firmly transitioned its Greater Buchan Area licenses into a funded and de-risked staged development. Having proven an optimal concept through engineering studies, the company has attracted capable partners to fund activities through to first oil. With full funding secured against only 20% equity, Jersey offers investors asymmetric risk-reward in realizing tremendous stranded value.During 2021 and 2022, Jersey Oil & Gas attracted North Sea heavyweights Neo Energy and Serica Energy to participate in the Greater Buchan Area redevelopment. On matching terms, the partners will fund 100% of costs including Jersey’s 20% share in return for an 80% licence stake. Cash payments to Jersey total $38 million, providing a strong balance sheet into the funded phases ahead. Partners were selected based on financial strength, strategic alignment and operational capability.The base case involves redeploying the Jadestone Energy operated Voyageur FPSO, requiring only minor modifications before being positioned over existing Buchan wells. First oil remains on target for late 2026 based on only modest facilities workscope. The development base case comprises five production wells and two water injectors, with pressure support from underlying aquifers expected to boost recovery above 50% of oil in place. Significantly enhancing economics, operating costs are forecast below $15/bbl.Partners are fully funding a comprehensive FEED study currently underway, together with all activities through to FDP approval in 2024. Based on the approved development budget, Jersey’s 20% equity share will also be fully carried through the construction and commissioning phase. With no further funding required, Jersey shareholders are fully leveraged to benefit from significant value catalysts in the years ahead. Jersey’s market capitalisation stands at only 25% of its estimated post-tax core NAV.Key upcoming catalysts centre around FDP approval, then demonstration of consistent progress through the funded development phase. First oil remains targeted for 2026, whereafter Jersey transforms into a cash generative oil producer. Event-driven rerating of Jersey’s valuation upside should occur as de-risking continues on the pathway to production. For investors, the risk-reward asymmetry in entering at the current valuation is uniquely compelling.In summary, Jersey has positioned itself for funded success from a stranded North Sea discovery. Future newsflow offers shareholders multiple opportunities to benefit from substantial incremental value creation. The company represents a high confidence value opportunity underpinned by committed partners and a fully financed work program.—View Jersey Oil & Gas company profile: https://www.cruxinvestor.com/companies/jersey-oil-and-gas-plcSign up for Crux Investor: https://cruxinvestor.com

Interview with Tim Harrison, Managing Director of Ionic Rare EarthsOur previous interview: https://www.cruxinvestor.com/posts/ionic-rare-earths-asxixr-building-europes-rare-earths-supply-chain-4476Recording date: 8th February 2024Rare earth elements (REEs) form the hidden backbone energising the global transition to electric mobility and clean power. Their unique magnetic, catalytic, and photonics properties impart performance and efficiency gains that silicon and copper simply cannot match. Yet, even as rapid electrification escalates demand, these obscure metals face a brewing supply crisis that jeopardizes nations’ net zero emissions timetables absent concerted action to develop alternative sources.Australian firm Ionic Rare Earths seeks to break China’s stranglehold on rare earths production through an innovative two-pronged strategy focused firstly on recycling magnets from electronic waste to recover vital rare earth oxides and secondly on developing its major Makuutu rare earths deposit in Uganda. Executing this plan can establish Ionic as the leading independent full-cycle rare earths operator as Western countries scramble to shore up their manufacturing and defence supply chains.Importantly, Ionic brings credible technological expertise and industry partnerships that validate its capabilities. The company already operates a demonstration facility showcasing its recycling processes. Moreover, collaborations with Volkswagen-owned Hypromag and specialist manufacturer Less Common Metals position Ionic to rapidly commercialize operations. Attractive government incentives and policies driving rare earths recycling in Europe and abroad create strong tailwinds.Nevertheless, successfully scaling production from primary deposits likely constitutes the bigger long-term economic opportunity. Ionic’s Makuutu project in Uganda offers district-scale resource potential plus inexpensive extraction from mineralization occurring near surface in soft clay. Once in full swing, Makuutu can deliver the bulk tonnages of neodymium, praseodymium, and dysprosium essential to energize mass EV adoption and wind power buildouts.Shares of Ionic Rare Earths trade at just a fraction of projected net asset value, embedding intriguing upside as executes its growth roadmap in the years ahead. The window to capitalize on the impending rare earths shortage continues narrowing. Astute investors looking for leverage upon this critical secular trend in clean energy should take note.—View Ionic Rare Earth's company profile: https://www.cruxinvestor.com/companies/ionic-rare-earths-ltdSign up for Crux Investor: https://cruxinvestor.com

*Interview with Stephan G. Roman, President & CEO of Global Atomic Corp.Our previous interview: https://www.cruxinvestor.com/posts/global-atomic-tsxglo-2025-production-with-compelling-economics-4747Recording date: 7th February 2024Global Atomic stands out as the most promising publicly-traded uranium mining company bringing large-scale new production online. With its Dasa project in Niger, the company offers a targeted way to capitalize on rising uranium prices amid supply shortfalls.The uranium industry suffers from years of underinvestment, with existing mines cutting back and scarce talent. However, Global Atomic has a veteran team advancing Dasa efficiently. Underground development and exploration drilling are progressing well, with over 275 employees currently on site. Plant construction contracts are now being awarded.With demand strengthening and supply tightening, the uranium market is entering a structural deficit just as Dasa nears production. Global Atomic has aligned contract prices and production plans to maximize exposure to rising uranium prices expected over the next several years.According to CEO Steven Roman, Dasa will have nameplate capacity exceeding 4 million pounds per year. With shallow high-grade mineralization, the project promises low operating costs and elevated margins. The forthcoming feasibility study update should further improve Dasa's already robust economics.Global Atomic has minimized equity dilution by lining up banks to finance 60% of Dasa’s capital costs. With long-term sales contracts providing cash flow visibility, debt financing reduces funding risk. The company expects to source its remaining capital needs through a combination of cash flows and prepayment contracts rather than excessive equity raises.With new uranium mines scarce yet demand rising, Global Atomic presents a unique opportunity. Dasa's scale, grade and stage offers unmatched leverage among uranium developers as the supply/demand imbalance drives prices higher.—View Global Atomic's company profile: https://www.cruxinvestor.com/companies/global-atomic-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Brandon Munro, CEO/MD, and Gavin Chamberlain, COO of Bannerman EnergyOur previous interview: https://www.cruxinvestor.com/posts/bannerman-energy-otcqx-bnnlf-poised-for-monster-returns-in-uranium-bull-market-4804Recording date: 8th February 2024Bannerman Energy is advancing the large-scale Etango uranium project in Namibia, one of few new production stories brought online before the end of the decade.With uranium prices already having doubled in the last 6 months, analysts forecast a deepening supply deficit that requires further upside to incent new mining. Bannerman finds itself perfectly positioned to capitalize.Etango holds over 200M lbs of uranium resources, with Phase 1 production estimated at 3.5M lbs per year. Expansion potential is sizable. Located in stable and mining-friendly Namibia, Bannerman has systematically derisked Etango while retaining flexibility on funding and contracts – allowing shareholders to get full leverage to rising prices.With a A$600M market cap but a funded balance sheet, a strong in-country team, and all required permits in hand, the company anticipates a streamlined 2-year construction timeline once project financing is secured.The rare degree of construction readiness for a junior miner translates to reduced financing risk and confidence in expedited production schedule. Set against industry peers trading at steep premiums despite major project funding and execution obstacles, Bannerman offers a timely, leveraged, and de-risked exposure for uranium bulls.With key lithium, copper, nickel, and uranium inputs all forecast to enter sustained deficits, the conditions are ripe for substantial mining valuations. As a pure play uranium vehicle modeled to come online just as the market flips into undersupply, Bannerman Energy deserves investor attention.—View Bannerman Energy's company profile: https://www.cruxinvestor.com/companies/bannerman-energySign up for Crux Investor: https://cruxinvestor.com

Interview with Dušan Petković, Senior VP, Corporate Strategy of G Mining VenturesOur previous interview: https://www.cruxinvestor.com/posts/g-mining-ventures-tsxvgmin-large-scale-gold-production-in-2024-3885Recording date: 6th February 2024G Mining Ventures is swiftly advancing one of Brazil's largest gold projects, with the first production imminent in 2024. The Tocantinzinho (TZ) mine will churn out 175,000 low-cost ounces annually for over a decade, funding both debt repayment and ambitious growth.Success here has derisked G Mining's story, evidencing its construction expertise. The same skills now target consolidating additional assets to become a 500,000 ounce Americas producer. Attractive project metrics, capital structure and major shareholder backing give it a jump on rivals also aspiring towards mid-tier status.Specifically, G Mining possesses several compelling attributes:Gold prices recently breached $1,900/oz, extending this year's rally above 8%. Investor and central bank buying has regained momentum as inflation and recessionary fears escalate. Yet lack of exciting new projects leaves the supply pipeline quite constrained. G Mining can capitalize on this backdrop with its fully funded TZ mine set to deliver first gold pour in just over 12 months.Extensive industry experience enables G Mining's management team to directly execute all technical and engineering aspects of building projects. This degree of control, continuity and productivity optimization is unique for a junior developer. It provides confidence in meeting budgets and timeliness.TZ has adhered to the schedule despite volatile macro conditions, with completion already 76% and within 5% of costs. Comparatively few surprises minimizes financing and dilution risks as well.Construction progress allows $430 million of TZ's $457 million capital budget to be committed already. Existing cash balances cover any residual expenditure. Additionally, in-the-money warrants if exercised could contribute extra liquidity nearing production start.With capex fully funded and initial years generating 200,000+ ounces, G Mining expects to repay debt and internally finance its next chapter of acquisitive growth. Avoiding substantial dilution or project financings would be a major competitive advantage in bidding for quality assets.Respected institutions like La Mancha, Eldorado Gold and Frankin Nevada own large stakes after conducting extensive due diligence. Their vote of confidence and guidance steers strategy. La Mancha additionally brings deep operational expertise and relationships as veterans in the gold mining space.At only $115/oz in enterprise value per ounce of reserves, G Mining screens very reasonably priced at just 0.7x NPV ratios. Approaching catalysts could re-rate valuations closer to comparable single-asset producers trading above 1x NPV. Further de-risking TZ and adding acquisitions boosts upside from current levels. In turn, investors get positioning ahead of the next emerging mid-tier consolidator in the Americas.—View G Mining Ventures' company profile: https://www.cruxinvestor.com/companies/g-mining-venturesSign up for Crux Investor: https://cruxinvestor.com

Interview with Alan Carter, President & CEO of Cabral Gold Inc.Our previous interview: https://www.cruxinvestor.com/posts/cabral-gold-tsxvcbr-targeting-first-revenues-within-15-months-4698Recording date: 6th February 2024Fast-Tracking Cash Flow to Unlock a New Gold DistrictCabral Gold is advancing the high-grade Cuiú Cuiú gold project in northern Brazil with the aim of transforming into a profitable producer within 12-18 months. A focus on developing shallow high-grade saprolite (oxide) resources could generate early cash flows to support expanding into the larger underlying bedrock deposits. Recent drilling suggests growth potential well beyond the current 1.2M ounce resource, with at least 30 identified mineralized zones across the 20km long property. Trading at under $30/oz, Cabral offers upside leverage to higher gold prices with minimal risk.Rapid Development of Enriched Near-Surface ZonesExtensive weathering at Cuiú Cuiú over millions of years has created thick blankets of saprolite extending up to 60m deep. Gold grades within this soft, free-digging material are comparable or often higher than the underlying unweathered bedrock. Significant metallurgical testwork demonstrates 80-95%+ gold recoveries using simple heap leach processing. With very low mining costs and cut-off grades, Cabral plans to rapidly advance Cuiú Cuiú’s saprolite resources to production.A prefeasibility study examining a 5,000 tpd heap leach operation is on track for completion in Q2 2024. Based on positive economics, management anticipates making a construction decision in Q3 2024 once financing is arranged. The relatively low initial capex under $100M significantly derisks funding, allowing first gold production targeted by mid-2025. Investors are essentially funding a de-risked project with a very short timeline to cash flow.Growing Resource Base Supports District PotentialWhile Cabral’s existing 1.2M ounce resource will form the basis for the initial Phase 1 saprolite mine, recent exploration success suggests strong potential for growth. Highlights include 30m at 2.6 g/t Au starting at surface at the new Machichi zone located just 500m from the proposed MG pit. Machichi has already been traced 900m and remains open along strike and at depth.In fact, over 30 mineralized zones have been identified within Cabral’s 146 km2 property. Systematic exploration during Phase 1 saprolite operations would aim to continue expanding resources to underpin a significantly larger Phase 2 bedrock focused production profile. Currently trading under $30/oz in situ, investors gain upside exposure to the exploration potential for minimal risk.Near-Term Share Price CatalystsWith construction targeted to start in 2024, Cabral offers multiple value-creating catalysts over the next 12 months:Prefeasibility study by Q2 2024 outlining robust phase 1 economicsFinancing arrangements to fund initial capexOngoing exploration success expanding existing resourcesNew discoveries proving up additional saprolite and bedrock mineralizationManagement’s track record of success includes involvement in developing the nearby 1Moz TZ project. As Cuiú Cuiú continues on the development fast-track, the company’s relative undervaluation should attract increasing investor attention.Those investors with the patience to ride through the current challenging markets could be greatly rewarded. Securing a position ahead of positive news flow leaves ample time for the next gold bull market to drive a potential re-rating towards fair value.—View Cabral Gold's company profile: https://www.cruxinvestor.com/companies/cabral-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Darren Bowden, CEO of Metals Exploration PLCRecording date: 6th February 2024Metals Exploration has undergone a dramatic turnaround under CEO Darren Bowden. When Bowden took over 4-5 years ago, the London AIM-listed gold mining company was nearly bankrupt. Its Philippines-based mine was achieving poor recoveries below 50%, costs were high, debt was mounting, and cash flow was negative.Bowden methodically analysed the issues and overhauled operations. His team resolved processing plant bottlenecks, boosting recovery rates to 92-94% today. Higher throughput and optimized mining have doubled annual gold production from 48Koz to 85Koz. Lower costs and higher gold output have allowed Metals Exploration to generate $73M in free cash flow in 2021. This cash avalanche has gone straight to paying down debt, which has declined from $130M originally to around $15M currently.With debt cleared and profits flowing, Bowden has positioned Metals Exploration for a new phase focused on strategic growth. Its core Runruno gold mine has approximately 4 years of remaining life. Bowden is hunting for assets to acquire, with an emphasis on high-grade, small-scale gold mines in the Philippines. The goal is to replace Runruno's production profile before mining concludes in 4 years.If Bowden pulls this off, he sees Metals Exploration evolving from a "~$200M company to a $2B company." There's still execution risk, but investors buying into the turnaround story at the current ~$100M valuation could see solid returns if his bold vision is achieved.—Sign up for Crux Investor: https://cruxinvestor.com

Interview with Niël Pretorius, CEO of DRDGOLD Ltd.Our previous interview: https://www.cruxinvestor.com/posts/drdgold-drd-steady-south-african-gold-producer-leverage-to-au-price-3064Recording date: 6th February 2024DRDGOLD Ltd operates a unique gold production business model targeting the retreatment of mine waste tailings around Johannesburg, South Africa. This allows the company to produce gold in a sustainable manner from past mining environmental liabilities while remediating land. DRDGOLD extracts gold from processed mine dumps efficiently via specialized high-pressure water jet technology drawing in tailings as slurry.Despite some recent transitional challenges, DRDGOLD retains compelling fundamentals. The company dealt with commissioning delays in 2022 bringing several new hydro-mining sites online to replace depleting ones. This forced greater reliance on higher cost mechanical lifting from legacy sites until issues were fully resolved in early 2024. While annual production consequently dropped 8%, DRDGOLD succeeded in minimizing impacts, preventing only a narrow earnings miss. With its crucial hydro-mining production funnel now restored, the company expects improved cost profiles moving forward.Importantly, even facing these headwinds, DRDGOLD maintained its track record as a standout dividend payer globally. Over the past 5 years, the company has delivered the 2nd highest total dividend payout across South African firms. This demonstrates the cash generation strengths of DRDGOLD's specialized operating approach even through downcycles or transitional disruptions. Entering 2024, the company holds 2.5 billion rand on its balance sheet, providing financial flexibility for further dividend upside or growth projects.Moreover, DRDGOLD invests significantly in cost control, including via a major 60MW solar plant and power storage facility currently nearing completion in October 2024. By securing renewable energy access, the company gains independence from South African power grid instability and rising electricity costs over the long-term. The solar plant can also sell excess power back to the grid for additional revenue. This further boosts profitability and environmental sustainability.Looking ahead, DRDGOLD is strategically prioritizing existing asset optimization, aiming to enhance processing capacity and extend mine life through 2028. In parallel, management views international expansion potential by leveraging the company's specialized operating model and evaluating global gold tailings retreatment opportunities. Through integrating remediation goals with commercial viability, DRDGOLD can deliver solutions enabling sustainable mine site development globally. Any further progress expanding provides additional shareholder value catalysts.With its differentiated production profile and niche expertise, DRDGOLD offers investors exposures both to rising gold prices and the company's unique capability transforming liabilities into assets. Despite recent challenges, DRDGOLD exits 2023 with fundamentals still strong based on costs, dividends, balance sheet health, and management's focus. As the miner consolidates operationally in the near-term while advancing potential higher growth avenues, the risk-reward proposition appears compelling at current valuations for a range of investor types.—View DRDGOLD's company profile: https://www.cruxinvestor.com/companies/drdgold-limitedSign up for Crux Investor: https://cruxinvestor.com

Interview with Shaun Bunn, Managing Director of Empire Metals Ltd.Our previous interview: https://www.cruxinvestor.com/posts/empire-metals-loneee-titanium-discovery-could-deliver-10x-returns-4641Recording date: 6th February 2024Junior explorer Empire Metals has made waves with its recent discovery of high-grade titanium mineralization at the Pitfield project in Western Australia. Initial drill results reveal extensive near-surface deposits that could be amenable to simple and low-cost processing methods.As Empire Managing Director Shaun Bunn stated recently, “We’re not a low-grade sand mineral operation or a complex hard rock mine. I think we can define a fairly simple processing route now.”This combination of scale, grade, and potential cost profile makes Pitfield a prime takeover target for titanium developers looking to secure supply. For investors, it also provides leveraged upside to rising titanium demand and prices.Last December's 40-hole, 5,718m drill campaign intercepted broad mineralized zones. Significantly, Bunn notes, “every hole from top to bottom [was] in titanium mineral.”High-grade intercepts begin at surface and extend beyond 400m depths. Three diamond holes encountered over 300m of continuous mineralization grading up to 26% titanium dioxide.With the immense mineral system confirmed, Empire has moved to metallurgical testwork and flowsheet development under newly appointed Process Development Manager Naurel Marriott.The goal is to devise a simple beneficiation process leveraging the high natural density of titanium minerals found. This may involve low-cost gravity and magnetic separation before final upgrading.To lead these efforts, Empire has recruited two industry experts with over 72 years of cumulative experience specific to titanium. Initial lab and pilot testing over the next 6-12 months will pinpoint the optimal recovery process.Rather than expend effort on a formal resource estimate at this stage, Bunn’s priority is to demonstrate commercial viability. Within 18-24 months, he hopes to have an on-site pilot plant operating.As Bunn explains, “let’s not try and drill this thing out and have a JORC resource because that doesn't answer the fundamental question - how do we get the titanium out and what do you make once you understand that?"With positive metallurgy results, the timeline from demonstration plant to development could be compressed. The recent $3 million financing provides a runway through these studies.For investors, Pitfield represents a unique entry point to the titanium space, just as supply shortages are forecast. As the world moves aggressively toward decarbonization, titanium will be one of the metals most critically in demand across green energy and EV applications.In Pitfield, Empire controls what may shape up as the most significant undeveloped titanium deposit globally. The next 6-12 months will go a long way in quantifying just how significant.—View Empire Metals' company profile: https://www.cruxinvestor.com/companies/empire-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with David Baker, CFO of Elemental Altus Royalties Corp.Our previous interview: https://www.cruxinvestor.com/posts/elemental-altus-royalties-tsxvele-15m-revenue-boost-from-new-mine-development-3915Recording date: 5th February 2024Precious Metal Royalties Provide Leveraged Commodities ExposureRoyalty and streaming companies have garnered increasing investor attention recently as an alternative avenue to gain exposure to the upside in commodity prices. By financing miners in exchange for royalty payments on production, these royalty vehicles avoid the substantial operating risks involved directly in mining. Instead, they benefit from the upside if projects prove successful.Elemental Altus Royalties illustrates the potential of the royalty model. The company holds a portfolio of 90 royalties globally, delivering steady cash flow from core assets like the Cerro Dominador copper mine operated efficiently by Lundin Mining. Disciplined capital allocation allows Elemental Altus to fund additional royalty deals on quality development-stage assets that offer accretion potential over time. The company maintains a focus on gold but also holds royalties on copper mines.Diversification reduces risk while concentrated positions in Tier 1 mines provide stability. Further consolidation makes strategic sense to management, who believe the subsector remains overly fragmented currently. Additional deals may offer opportunities to bolster upside. Organic growth also drives potential catalysts. Key royalty-linked assets operated by established miners like Allied Gold have near-term production expansion plans that could increase royalty revenues.In summary, Elemental Altus Royalties offers investors interested in commodities a disciplined vehicle providing royalty exposure across precious and industrial metals. The diversified portfolio combines assets with near-term cash flow and developmental upside potential. Hence, the company may appeal to investors seeking leveraged yet risk-managed mining exposure.—View Elemental Altus Royalties' company profile: https://www.cruxinvestor.com/companies/elemental-altus-royaltiesSign up for Crux Investor: https://cruxinvestor.com

Interview with Siobhan Lancaster, CEO/MD of 92 Energy Ltd.Our previous interview: https://www.cruxinvestor.com/posts/92-energy-asx92e-proposed-junior-merger-to-create-new-force-in-uranium-4699Recording date: 5th February 2024A three-way merger between uranium explorers 92 Energy, Atha Energy, and Latitude Uranium is progressing as planned. The deal will create scale, unlock value across a combined portfolio of high-potential uranium assets, and provide capital to accelerate exploration.The market reaction has been positive with strong share price appreciation seen in all three companies since announcing the intention to merge. The enlarged entity, to be called Atha Energy post-completion, will control over 300,000 hectares focused in Canada's prolific Athabasca Basin.In particular, 92 Energy’s CEO Shan Lancaster highlights the largely underexplored 14 km Gemini trend at the company’s flagship Gemini project as a "good probability" for additional high-grade uranium discoveries. Prior drilling has already delivered promising hits up to 8.5m at 6.88% U3O8 near the surface. This initial success points to the potential for a broader deposit cluster analogous to the nearby world-class Arrow-Triple R district.The merger plans remain on track with the scheme booklet outlining details to go to 92 Energy shareholders by late February, ahead of a scheme meeting vote expected in the last week of March. Assuming approval, completion would occur around mid-April. Crucially, this provides good timing to launch extensive summer field programs across the expanded portfolio to build momentum into 2024.Lancaster explains that behind the scenes uranium market tightness exceeds recent public spot price gains. Contract negotiations reveal meaningful lifts in floor pricing and ceilings for long-term deals. This foreshadows further marked upside in published benchmarks as current prices around $100 per pound remain below levels required to incentivize adequate new mine supply. Equities thus offer catch-up potential as underlying physical fundamentals strengthen.Consolidated Uranium intends to aggressively explore its assets to capitalize on the next uranium bull run. Investors can gain leverage to an improving macro backdrop through exposure to this well-funded, technically strong athletic combination, crystallizing around promising uranium jurisdictions.—View 92 Energy's company profile: https://www.cruxinvestor.com/companies/92-energySign up for Crux Investor: https://cruxinvestor.com

Interview with Dustin Perry, CEO of Kingfisher Metals Corp.Our previous interview: https://www.cruxinvestor.com/posts/kingfisher-metals-tsxvkfr-3-million-raise-for-high-grade-gold-drilling-3387Recording date: 31st January 2024Full District Unlocked: Kingfisher Metals Closing in on Golden Triangle's Next Big DiscoveryKingfisher Metals are consolidating an entire porphyry copper-gold district on their Hank project in northwest BC's famous Golden Triangle.Previous operators left behind a treasure trove of wide, high-grade drill hole intercepts across multiple zones like 20m at 12 g/t gold. Last year, Kingfisher began unlocking the deeper potential.Drilling under cover, Kingfisher hit 438m at 0.43 g/t gold equivalent, proving a massive porphyry system underlies the Mary target. And assays along strike suggest further expansion potential.Already 331 sq km in size, pending permits will unlock even more prospective ground. 2023 drilling will systematically test the best targets - both existing high-grade epithermal veins and the newest large-scale porphyry discovery.Institutions like Commodity Capital (17%) and key individual investors (25%) control half the tight share structure. Their backing reduces financing risk and share dilution.Key geologists with direct experience at nearby mega-projects like Seabridge's KSM improve the odds of exploration success.Discovering just 1-2 million gold equivalent ounces could support a valuation 10x or higher than today's modest $10M market capitalization.While not without risks, Kingfisher offers savvy resource investors world-class porphyry district-scale upside potential. Their experienced team and supportive long-term institutional backing make drilling success in 2024 a very realistic possibility._View Kingfisher Metals company profile: https://www.cruxinvestor.com/companies/kingfisher-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with Pascal Hamelin, President & CEO of Abcourt MinesOur previous interview: https://www.cruxinvestor.com/posts/abcourt-mines-tsxvabi-can-abcourt-unlock-high-grade-gold-potential-4532Recording date: 2nd February 2024Quebec Junior Primed for Self-Funded Growth SpurtAbcourt Mines provides investors a unique opportunity to capitalize on reviving a past-producing gold mine in Quebec while avoiding typical junior miner dilution from endless equity financings. The company has methodically updated infrastructure and modeled high-grade narrow vein deposits at its Sleeping Giant property over recent years. With the 750-900 ton per day on-site mill now set for production startup in Q1 2024, near-term cash flows unlock the potential for exponential resource expansion.Initial processing will begin on 8,000 tons of stockpiled material grading 6-8 g/t gold generating potentially c.$500,000 per month net.. However, Abcourt has already identified nearly 100,000 additional ounces grading above 10 g/t accessible right near existing tunnels that is not encompassed in the current 500,000-ounce resource estimate. According to President and CEO Pascal Hamelin, first-hand knowledge of deposit structures has revealed considerable upside even compared to recently updated modelling. The company now has the properly mapped deposits to efficiently target drilling for rapid resource delineation after years spent playing catchup.With the mill capable of driving upwards of $100 million in annual sales at reaching capacity, the ability to self-fund this growth is what sets Abcourt apart from peers. Hamelin estimates production can generate approximately $500,000 per month in free cash flows that can go directly towards exploration expenses. This prevents additional dilution to current shareholders while expanding gold reserves to extend the current 8-year mapped mine life. Beyond Sleeping Giant itself, Abcourt also controls over 13 distinct regional zones that can provide supplementary mill feed as resources grow across its wider land package.The market continues underestimating just how substantial production upside and resource growth funded through internal cash flows can drive shares higher. Investors have an opportunity to position in Abcourt Mines while the stock flies under the radar before realizing upside from a fully-funded search for multi-million ounces of gold across Abitibi.—View Abcourt Mines' company profile: https://www.cruxinvestor.com/companies/abcourt-mines-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Maura Kolb, President, and Trey Wasser, CEO of Dryden Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/dryden-gold-tsxvdry-exceptional-gold-grades-4771Recording date: 1st February 2024High-Grade Gold Intercepts Imminent as Dryden Advances Ontario PropertiesDryden Gold has exploration well underway on its strategic land package in the historic Red Lake gold district of Northwest Ontario, where past production underscores the region's bonanza-grade potential. Recent drilling across multiple target zones means assay results are expected very soon, which could serve as key catalysts for market interest and revaluation of Dryden's shares.Systematic sampling and analysis by Dryden's technical team has outlined extensive shear structures tracing known high-grade gold mineralization along surface, now being methodically drill tested over a kilometer strike. Several drill phases late in 2023 focused on extending the known deposit shoots and also targeted past-producing ultra-high-grade veins.Significant widths of consistent mineralization visually logged in the drill core indicate positive early findings across the different target types and structures. Once the pending assay results are in hand for these Phase 1-3 holes, Dryden will incorporate the data into their 3D model, vectoring toward areas for follow-up.The recent strategic land acquisition means Dryden controls the vast majority of the prospective trend, where structurally-controlled fluid flow concentrated the regional gold endowment into exceptionally high-grade lenses during deformation events. Supported by sound technique and bottom-up targeting, Dryden's systematic exploration aims to demonstrate resource-scale potential across its consolidated ground package._View Dryden Gold's company profile: https://www.cruxinvestor.com/companies/dryden-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Terry Lynch, CEO of Power NickelOur previous interview: https://www.cruxinvestor.com/posts/power-nickel-tsxvpnpn-unearthing-high-grade-project-as-deficits-loom-4533Recording date: 31st January 2024Ramping Up Nickel Production to Power the EV RevolutionPower Nickel presents a compelling leveraged investment into the surging battery metals needed to electrify transport and stabilize power grids. Through systematic exploration and strategic partnerships, Power Nickel aims to rapidly elevate its 100% owned Nisk project into a premier nickel sulfide asset.Initial drilling results underpinned an impressive maiden 7.2M ton 43-101 resource estimate on just a fraction of identified targets. Ongoing drilling seeks to significantly expand this resource inventory. Power Nickel’s innovative use of ambient noise tomography has unlocked district-scale potential, pinpointing multiple new high-priority targets sharing similar signatures to known deposits.Assay results pending from six holes drilled in 2023 could further boost resources in the imminent update. This cutting-edge targeting technique has already attracted substantial industry interest. Power Nickel is positioned to capitalize through a targeted 10% strategic equity investment likely coupled with an offtake agreement.The deal would fund expanded drilling campaigns focused on systematically derisking and devising an optimal development plan for Nisk. Importantly, it limits reliance on dilutive equity financings during a period of weakness in junior mining markets. Power Nickel estimates Nisk’s resources could double or triple in 2024 alone if exploration success continues at the current clip.Yet despite this blue-sky potential, the current valuation hovers near 52-week lows - presenting a disconnect likely rooted in illegal naked short selling. As drilling validates Nisk’s world-class credentials over coming quarters, expect a dramatic convergence towards fair value.—View Power Nickel's company profile: https://www.cruxinvestor.com/companies/power-nickelSign up for Crux Investor: https://cruxinvestor.com

Interview with Jason Jessup, CEO of Magna Mining Inc.Our previous interview: https://www.cruxinvestor.com/posts/magna-mining-tsxvnicu-test-mining-to-inform-ni-development-plans-3467Recording date: 30th January 2024Past Producer Positioned to Unlock Nickel Riches in SudburyMagna Mining is focused exclusively on reawakening nickel and copper production in the prolific Sudbury mining camp of Canada. As CEO Jason Jessup declared, "We're in one of the best locations to make big nickel copper PGM discoveries". The company boasts two assets with resource expansion upside and near-term production potential.The first is the formerly producing Crean Hill mine containing over 30 million tons of resources grading 2% nickel equivalent. Magna sees strong potential to significantly expand this resource both adjacent to the old mine workings and in the surrounding footprint through ongoing exploration. A 25,000 meter drill campaign is underway targeting new high-grade discoveries.Beyond exploration upside, Crean Hill also provides a clear pathway to restart production. Magna is securing permits to dewater the old tunnels and sell nickel-copper ore to local processors. This would generate early cash flow for the company while expanding resources to ultimately underpin larger-scale centralized production.Magna's second key asset is the Shakespeare project just 40km away. Shakespeare has existing permits and a feasibility study for a 4,500 tonne per day open pit mining and milling operation. The company's vision is to ultimately combine both assets into a regional production hub wholly-owned by Magna.For investors, Magna ticks all the boxes - world-class jurisdiction, exploration upside through the drill bit, near-term cash flow potential, and self-funded growth tracks. These attributes position the company strongly to benefit from the next cycle upswing in nickel markets. The beaten-down share price represents a compelling opportunity.—View Magna Mining company profile: https://www.cruxinvestor.com/companies/magna-miningSign up for Crux Investor: https://cruxinvestor.com

Interview with Andrew J Vigar, Executive Chairman of Terra Uranium Ltd.Our previous interview: https://www.cruxinvestor.com/posts/terra-uranium-t92-drilling-athabasca-for-high-grade-deep-deposits-3067Recording date: 30th January 2024*Major Uranium Discoveries Needed as Nuclear Power Expands*Uranium exploration company Terra Uranium believes the global nuclear power industry is entering a new era of strong and sustained growth. Massive new reactor construction programs, especially in Asia, lay the foundations for higher uranium prices for years to come based on recurring historical patterns. Each major phase of nuclear electricity capacity additions has driven higher fuel prices for extended periods. With dozens of plants now under development, uranium stands at the early stages of another structural commodity bull market.For investors, this translates into a paradigm shift and fundamental inflection point where beaten-down uranium equities find fresh interest after a lost decade since 2011's Fukushima disaster. Notwithstanding the challenging financing environment facing juniors, those making important new discoveries best leverage this thematic reallocation to nuclear. As Terra Uranium's Executive Chairman Andrew Vagra notes, "major discoveries are needed to fuel massive reactor capacity additions." So "it’s a special time in the market" for capital allocators positioning early in vehicles enabling outsized yet speculative gains as world-class assets emerge.Terra Uranium targets giant deposits in Canada's uranium hotspot, the Athabasca Basin. This region accounts for over 20% of global production from less than 3% of reserves due to exceptionally high ore grades. Terra believes they have acquired the best available ground for major new discoveries deeper in the basin's relatively untested western side. The company entered the area in 2019 when it was virtually unoccupied. Early mover advantage let Terra snap up claims with blockbuster potential before competitors arrived.But drilling deep exploration targets in the Athabasca Basin demands high upfront costs. As a small company, Terra lacks sufficient funds to drill out their large property portfolio alone. The company has been meeting with mining majors and commodities investors interested in a strategic partnership. The goal is to secure funding contributions to exploration costs in return for joint ownership of any future discoveries. Joint ventures allow small explorers to leverage external capital while larger corporations cost-effectively gain resources exposure.Terra aims to launch initial drilling this summer at their Passfield Lake project, where interpretations reveal signature structures consistent with massive unconformity-type uranium deposits nearby. Demonstrating exploration success could set the stage for resource delineation and mine development over subsequent years. For risk-tolerant investors, backing drilling programs with transformational discovery upside can lead to phenomenal returns. But at this early stage, skepticism remains warranted until further tangible de-risking occurs.—View Terra Uranium's company profile: https://www.cruxinvestor.com/companies/terra-uraniumSign up for Crux Investor: https://cruxinvestor.com

Interview with Andre Liebenberg, Executive Director & CEO of Yellow Cake PLCOur previous interview: https://www.cruxinvestor.com/posts/yellow-cake-yca-uranium-investment-thesis-has-got-stronger-2077Recording date: 31st January 2024With uranium fundamentals increasingly bullish amid constrained supply, Yellow Cake and its CEO Andre Liebenberg offer insights into capitalizing through this specialized commodity exposure. The company purchases and holds physical uranium, aiming to profit from anticipated further price appreciation.Yellow Cake raised $200 million at its 2018 IPO to acquire an initial 8 million pounds of uranium when prices languished around $21 per pound. But with spot price now exceeding $100 amidst booming demand, the company's net asset value skyrocketed 10x to over $2 billion.Its agreement with Kazatomprom, the world's largest producer, allows optionality to purchase up to $100 million of additional supply annually through 2027 at favorable prevailing market rates. This provides asymmetrical exposure benefiting from uptrend continuation.On the demand side, carbon policies, energy security priorities, and progress on smaller modular nuclear reactors provide strong multi-year tailwinds. But primary supply remains stagnant after peaking in 2016 even as lithium, cobalt, and other critical mineral sectors ride electrification enthusiasm. This supply/demand imbalance explains the bull case for uranium prices.With the market so undersupplied, Liebenberg cautions any single disruption like extreme weather, labor strikes, or other common mining struggles can ravage adequacy further. And it takes many years to develop conventional assets. So conditions appear ripe for continued volatility and appreciation in his 3-5 year outlook before significant volumes come online.Given compatibility with global decarbonization initiatives and domestic energy independence priorities, nuclear power enjoys intriguing macroeconomic tailwinds unlikely to abate this decade. So against unreliable prospects for production increases, Yellow Cake offers specialized exposure to ride the wave.The company faces share price pressure disconnected from spot at times based on external macro factors or investor skittishness in downturns. But Liebenberg explains how brief windows of NAV parity provide capital raising opportunities to keep acquiring inventory at advantaged rates for later upside.This rare combination of expertise, relationships, and positioning makes the firm difficult to replicate at scale for competitors today. So Yellow Cake enjoys some competitive insulation around its unique approach to uranium investment.For investors assessing vehicles to access this compelling play, Yellow Cake warrants consideration based on its cost advantage securing past supply, mitigated risk through its Kazatomprom partnership, operational scale, and leverage to inevitable commodity volatility until the market rebalances in the 2030s.—View Yellow Cake's company profile: https://www.cruxinvestor.com/companies/yellow-cake-plcSign up for Crux Investor: https://cruxinvestor.com

Interview with Dr. Arthur Halleran, President & CEO of Trillion EnergyOur previous interview: https://www.cruxinvestor.com/posts/trillion-energy-csetcf-game-changing-strategy-explained-3402Recording date: 30th January 2024Trillion Energy holds a unique position in Türkiye's vast natural gas industry, anchored by its strong 49% stake in the SASB offshore gas field. After contending with temporary production issues, the company now has engineered solutions ready to tap major near-term cash flows.The SASB gas field sits within the prolific Black Sea Basin. Trillion successfully drilled 6 new high-rate wells here in recent years. However CEO Arthur Halleran acknowledged that "over promising and under delivering" led to the loss of some investor trust when the wells confronted water loading problems.The good news is that ample gas reserves remain in place. The engineering challenge is surmountable. Halleran explained how the gas "is not lost - it just the weight of the water on the perforations and the tubing that pushes the gas back into the formation."The fix is to install artificial lift systems on the wells to pump out water. Once implemented, Halleran stated confidently that SASB can reach 15 million cubic feet per day production across the 6 existing wells by Q2 2024. This would generate over $40 million in annual operating income at current strong natural gas prices in Turkey above $11 per mcf.Beyond that, 5-6 additional inexpensive workover wells could boost total output up to 25 million cubic feet per day. So within a year, Trillion anticipates unlocking major gas volumes capable of delivering outstanding cash flows due to low operating costs in the field.The market opportunity in Türkiye looks promising. Natural gas demand grows steadily, fueled by economic and population expansions. Trillion sells into a robust pricing environment marked by limited volatility. Attractive fiscal terms in the country provide for high netbacks.Thus, Trillion Energy sits on the cusp of a value inflexion. Near-term catalysts can quickly turn past disappointment into big production, big cash. While keeping priorities trained on wringing profits from existing wells, an early-stage onshore oil block also grants blue sky upside when the timing proves right. For opportunistic investors, Trillion checks the boxes for re-rating potential.—View Trillion Energy's company profile: https://www.cruxinvestor.com/companies/trillion-energySign up for Crux Investor: https://cruxinvestor.com

Interview with Alex Underwood, MD/CEO of Empire Energy Group Ltd.Our previous interview: https://www.cruxinvestor.com/posts/empire-energy-asxeeg-technical-analysis-due-diligence-4162Recording date: 26th January 2024Empire Energy controls huge shale gas resources in Australia's Northern Territory, estimated at over 40 trillion cubic feet by independent assessors. With domestic east coast markets facing looming supply shortfalls amid rising global demand, Empire has a clear strategic production roadmap to monetize these world-scale gas assets.Initially focussed on oil and gas production in the US, Empire pivoted towards acquiring and proving up acreage in the vast onshore Beetaloo Basin after capitalizing on the US shale boom's early stages. Australia's Beetaloo region shares similar shale geology and Empire moved swiftly to build a dominant position. Few companies boast more prime shale acres.Having confirmed world-class volumes of gas in place via drilling vertical and horizontal test wells, Empire is fast-tracking low cost pilot schemes. An initial 3 well development campaign with 60 stage hydraulic fracturing aims to flow test production potential. Early success would derisk substantial follow-on development, likely attracting industry interest.Empire has accelerated pilot production plans by acquiring a second-hand gas facility for a bargain $3 million. Refurbishing this will expedite on-site infrastructure assembly. Along with advanced talks on securing gas sales agreements, first cash flow now looks possible inside 12 months.Beyond pilot schemes, Empire has a multi-stage production growth plan. Phase one fills spare capacity in an existing pipeline traversing Empire's permits. Rapidly expanding output from 25 million cubic feet per day to feed Darwin's energy shortfall would generate over $100 million annual revenue. Subsequent phases look to ramp up production, ultimately targeting 1 billion cubic feet daily for southern LNG exports. Attractive economics expected from initial wells provides cashflow to fund each organic development stage.From an early entry point, Empire Energy offers leveraged exposure to realization of the Beetaloo Basin's full potential. Key de-risking milestones are approaching fast. Cash flow and resource appraisal progress could spotlight Empire's world-scale gas resource. Its disciplined step-by-step commercialization strategy aims to capitalize on strengthening gas market conditions. Targeting first production within 12 months provides investors a near term catalyst.—View Empire Energy Group's company profile: https://www.cruxinvestor.com/companies/empire-energy-groupSign up for Crux Investor: https://cruxinvestor.com

Interview with Cal Everett, CEO, and Jon Gilligan, COO of Liberty Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/liberty-gold-tsxlgd-a-drive-to-discover-oxide-gold-deposits-in-the-great-basin-3900Recording date: 26th January 2024Liberty Gold is focused on advancing its flagship Black Pine Gold Project located in mining-friendly Idaho, USA towards a potential production decision. Black Pine benefits from extensive local infrastructure and was previously operated as an open pit, heap leach mine in the 1990s.Since acquiring the asset, Liberty Gold has undertaken over 200,000 meters of drilling to expand the existing oxide gold mineralization. An initial mineral resource estimate outlines 2.6 million oz indicated and 0.5 million oz inferred at average grades above 0.5 g/t gold. Metallurgical test work shows ~70% expected recoveries using simple heap leaching.With extensive room for additional resource growth, Black Pine has clear tier-1 potential that could improve its appeal as a takeover target for mid-tier and major gold miners. The company believes the project has similarities to SSR Mining's Marigold operation.Liberty Gold is advancing Black Pine on two parallel tracks — expanding resources through further drilling while simultaneously de-risking and permitting. The company remains on schedule to release a Pre-Feasibility Study in Q3 2024.The PFS and subsequent permitting process are crucial catalysts for the project in 2024. Submitting a Plan of Operations is expected to launch a 2-3 year permitting period after which the project may be "shovel-ready" for development.With a cash balance exceeding current burn rates, Liberty Gold is fully funded to complete the PFS. Additional funding will be required to continue aggressive expansion drilling starting H2 2024.The company has several options to raise capital including selling its earlier stage TV Tower project in Türkiye, private equity placements, investments from major miners, and royalty financing. Liberty Gold's CEO has extensive capital markets experience to navigate markets.Liberty Gold offers exposure to a large, open-pit project in a top-tier jurisdiction within a rising gold price environment. With exploration upside and engineering de-risking activities underway, these upcoming milestones in 2024 could catalyze a re-rating in the stock valuation.—View Liberty Gold's company profile: https://www.cruxinvestor.com/companies/liberty-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Charles C. Downey, President, CEO & Director of Eagle Plains Resources Ltd.Recording date: 26th January 2024Eagle Plains Resources brings an intriguing investment exposure to reviving mining markets through its project generation model. As President and CEO Chuck Downey explains, the company utilizes its geological expertise to identify early-stage exploration opportunities. After staking claims directly to avoid inflated purchase costs, Eagle Plains vends projects to partners who must complete earn-in programs to secure majority ownership. This provides leveraged upside exposure while diversifying risk across the portfolio.Unlike typical juniors, Eagle Plains has sustained a strong financial position even amidst recent turbulence. Supported by its geological services subsidiary and royalty interests, the company enters 2024 holding around C$9 million in cash and securities. With junior miners starved of capital, Eagle Plains is opportunistically placed to acquire prospective new targets and progress partnerships. Momentum now builds behind the company’s portfolio as sentiment improves for commodities like uranium and copper. Having advanced its projects through challenging markets, planned exploration expenditure from partners may soon eclipse C$19 million. Improving conditions also raise the possibility of reviving spin-outs like 2021’s C$31 million Taiga Gold realization.After weathering the storm, Eagle Plains seems ready to spread its wings. Blending project generation, services and periodic incubations, the company offers exposure to explorers without reliance on dilutive finance. Entering 2024 cashed-up and with activity accelerating, Eagle Plains warrants consideration amongst juniors gearing up to take flight.—View Eagle Plains Resources' company profile: https://www.cruxinvestor.com/companies/eagle-plains-resources-ltdSign up for Crux Investor: https://cruxinvestor.com

Interview with Thomas Lamb, CEO of Myriad Uranium Corp.Our previous interview: https://www.cruxinvestor.com/posts/myriad-uranium-csem-major-upside-at-historic-wyoming-producer-4436Recording date: 25th January 2024Myriad Uranium holds an extensive land package in the uranium-rich Powder River Basin that has seen over $117 million of past exploration work by major companies in the 1970s and 80s. Historic drilling outlined substantial mineralization, with past resource estimates ranging from 15 million to as high as 63 million pounds of U3O8 across multiple zones.As the uranium market gathers momentum amid looming supply shortages, Myriad is focused on reawakening the dormant potential of its flagship Wyoming property. Recent analysis suggests even more resources may be discovered as the company compiles and digitizes decades of historical records and data.Upgrading resources to modern 43-101 compliant status could drive a major revaluation of the intrinsic value locked within the project's forgotten uranium deposits. Strategic partnerships or corporate acquisitions also loom as possibilities, with uranium assets in the American West appreciated anew in light of US security of supply priorities.Yet Myriad trades at just an $18 million market capitalization despite:Historic resources pointing to 15 to 63 million pounds of uraniumOver 2,000 drill holes and hundreds of surveys completed historicallyRecent findings uncovering more untapped districts on the propertyPosition in the heart of a renewed Wyoming uranium hubAs CEO Thomas Lamb stated: "I invite your viewers to compare our license, our project...against other projects in Wyoming. We have a historically, we have a very big project and it's going to be tempting to people."Just as gold explorers with high-grade intercepts can command premium valuations before formal resources declared, uranium explorers in tier-one jurisdictions with extensive indications of mineralization warrant investor attention.Myriad Uranium checks these boxes in Wyoming's Powder River Basin – an area responsible for over 220 million lbs of past U3O8 production since the 1950s. With blue sky exploration potential beyond already substantial historic deposits, investors have an opportunity for early positioning ahead of wider market recognition.The company expects to release more details on recent discoveries and plans to upgrade historic resources in the coming weeks. Those seeking leverage to a uranium market poised for further gains would do well to take notice.—View Myriad Uranium's company profile: https://www.cruxinvestor.com/companies/myriad-uraniumSign up for Crux Investor: https://cruxinvestor.com

Interview with Chris Frostdad, President & CEO of Purepoint UraniumOur previous interview: https://www.cruxinvestor.com/posts/purepoint-uranium-tsxvptu-costs-reduced-portfolio-optionality-maintained-3525Recording date: 26th January 2024With uranium prices rising off decade lows, Canada's Athabasca Basin is attracting renewed attention from investors eager to profit from the next exploration success story. Purepoint Uranium ticks all the boxes for a premier uranium junior. Strategically positioned next to recent high-profile discoveries like Fission Uranium’s Triple R and NexGen’s Arrow deposits, Purepoint’s flagship Hook Lake project lies on-trend with these world-class assets boasting grades over 5% U308.Supported by funding agreements with two industry heavyweights in Orano and Cameco, Hook Lake exploration is systematically testing similar geology to these neighboring multi-million pound uranium occurrences. Purepoint only carries 21% of expenditures here while benefiting from any exploration upside. Recent results reveal “we’re starting to step into something bigger” says company President Chris Frostad. He sees intensive activity coming in the region longer-term as deposits eventually consolidate into larger production centers.Purepoint supplement this flagship with wholly-owned uranium projects offering blue sky potential for new discoveries as the uranium investment case strengthens. Frostad believes "this is the time to take advantage of a hot market and actually put your hands on a proper resource.” The company has defined drilling targets ready to test. Having raised $4 million in recent months, Purepoint is fully financed to push forward.Uranium demand is clearly outstripping supply as new nuclear reactors come online. Fifty units are now under construction including next-gen SMR designs. With most analysts forecasting widening shortfalls, higher uranium prices over the next few years seem assured. This bodes well for juniors like Purepoint holding drill-ready projects in tier-one jurisdictions. As the sole listed pure play explorer in the Athabasca region, the stock offers unrivaled exposure here.The current $50 million valuation leaves substantial upside once markets grasp Purepoint’s potential.Savvy uranium investors should have this overlooked name on their radar.—View Purepoint Uranium's company profile: https://www.cruxinvestor.com/companies/purepoint-uranium-group-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Keith Bowes, MD of Lotus Resources Ltd.Our previous interview: https://www.cruxinvestor.com/posts/lotus-resources-asxlot-unpacking-the-future-lots-strategic-moves-in-the-uranium-space-3854Recording date: 25th January 2024Lotus Positions for Uranium Resurgence Through Timed Mine RestartWith uranium prices now over $100/lb, more than triple recent lows below $30/lb, Lotus Resources sees fresh potential in restoring production at its previously operating Kayelekera uranium mine in Malawi. Shut down in 2014, Kayelekera has extensive historical data that de-risks projections of smoothly and profitably restarting operations. Lotus bought the mine in 2019 aiming to eventually benefit from recovering uranium market dynamics. That long-expected recovery now appears underway.Targeting production restart by end 2025, Lotus is moving rapidly on technical and funding fronts. Updating past studies supports a 15-month post-FID timeline to refurbish facilities and enable the first new uranium output. Lotus’ leadership explains “With higher prices...there could be even higher prices 2026-2029...so we are focused on getting Kayelekera operating by end 2025” to fully capitalize on tightening supplies industry-wide.Kayelekera carries modest $35M capital costs thanks to existing infrastructure. Higher prices also expand debt capacity which allows optimizing the project financing mix. Lotus sees far greater scope for debt now versus past assumptions. This lowers costs while reducing dilution. Added financing sources come from utilities newly willing to discuss upfront uranium purchase prepayments to guarantee future supply.Crucially, Lotus enjoys a first-mover advantage over scores of competing projects. As management assessed, many overly optimistic plans likely “lack substance”. Kayelekera's real operational track record de-risks its commercial restart proposition. This engenders confidence in both product buyers and investors. Starting in 2025 while widespread deficits emerge gives Lotus priority customer access and best prices. Scarcity favors early responders - so reliable execution is key.With fundamentals aligning neatly - low costs, solid production platform, advantageous timing, financing upside - Lotus offers investors well-timed leverage as uranium enters a pronounced recovery cycle. Past success positions the company for future outperformance. Kayelekera's swift reboot may propel Lotus shares higher as dramatically improving sector economics take hold through mid-decade.—View Lotus Resources' company profile: https://www.cruxinvestor.com/companies/lotus-resources-limitedSign up for Crux Investor: https://cruxinvestor.com

Interview with James Sykes, President & CEO of Baselode Energy Corp.Our previous interview: https://www.cruxinvestor.com/posts/baselode-energy-tsxvfind-junior-sitting-on-a-district-scale-uranium-jackpot-4517Recording date: 24th January 2023Baselode Energy is an aggressive uranium explorer assembled by sector veterans to capitalize on rising uranium prices. The company boasts a commanding land position targeting shallow, high-grade ore bodies in Saskatchewan’s uranium-rich Athabasca Basin. Its properties cover interpreted basement geology with structural similarities to existing major deposits, like McArthur River and Key Lake.Unlike most competitors fixated on incredibly high-grade unconformity deposits buried 500+ meters downhole, Baselode deliberately pursues much shallower 350 meter or less targets in basement rocks beyond the Basin’s edges. This Athabasca 2.0 strategy prioritizes finding near-surface open pit amenable ore bodies with lower mining costs and faster development timelines.The thesis already yielded a hit in September 2021 with Baselode uncovering its ACKIO prospect. ACKIO revealed 9 discrete high-grade uranium pods over a zone more than 375 meters long and 150 meters wide. Mineralization starts as shallow as 28 meters below surface. Assays graded up to 5.08% U3O8 over 0.35 meters, including 24.4% U3O8 over 0.1 meters.CEO James Sykes believes plenty more near-surface deposits await discovery on Baselode’s properties, citing Athabasca’s extensive and largely untapped basement potential. He draws comparisons to Cameco’s Fox Lake deposit and NexGen’s Arrow discovery proving major mineralized basement systems exist beyond perceived basin boundaries. Integrating modern interpretations of basement structural controls with geophysics and drilling helps pinpoint targets.To test ideas systematically, Baselode fields one of the basin’s largest exploration plays at 250,000+ hectares all consolidated into a single package. Properties encompass 80 kilometers of favorable stratigraphy with walk-up drill targets and expansion potential around older discoveries. The portfolio offers immense running room to pursue Athabasca 2.0 discoveries.Well funded after a November 2023 capital raise, Baselode has aggressive 2024 plans. A 2,000 meter drill program launches mid-February, testing 5 basement targets exhibiting compelling geophysical signatures of structurally disrupted corridors like ACKIO. More programs will follow evaluating deeper targets and regional prospectivity.With superior leverage to rising uranium prices through cost-effective mining optionality and buyouts, Baselode presents a compelling risk/reward opportunity. Its impressive exploration package and credentials also suggest rival takeover potential as basin consolidation accelerates. Upside remains substantial for investors buying at current levels.—View Baselode Energy's company profile: https://www.cruxinvestor.com/companies/baselode-energySign up for Crux Investor: https://cruxinvestor.com

Interview with Bruce Lane, Executive Director of GTI Energy Ltd.Our previous interview: https://www.cruxinvestor.com/posts/gti-energy-asxgtr-aiming-for-10mlb-uranium-mine-in-us-4798Recording date: 24th January 2024Uranium explorers with assets located in the United States stand poised to benefit enormously from the major supply-demand imbalances in the global uranium market. America’s nuclear electricity generators currently require 50 million pounds of uranium annually to fuel reactors, but over 85% of this supply is imported. With ambitions to triple nuclear capacity to 100 GWe while also facing limitations on supply from major producers like Canada, Australia and Kazakhstan, uranium mining within the US is returning in earnest.Against this backdrop sits ASX listed GTI Energy, aggressively exploring and developing insitu recovery (ISR) uranium projects focused exclusively in Wyoming. Their properties in established mining districts benefit greatly from nearby technical and infrastructure validation from current ISR operations owned by Ur-Energy and Energy Fuels. GTI's Managing Director Bruce Lane explains this favorable position stating that “we’re dealing with the same sort of geology, same sort of thicknesses and depth...which will give us great confidence that the economics shouldn't be too crazy".Their Lo Herma property contains an existing uranium resource with ample expansion potential, while the newly acquired Lance project also comes with historic resources that can likely be grown considerably. With the global uranium price having tripled in just the past two years on the back of intensifying supply shortages, Lane notes that the economics of historical Wyoming deposits prove viable again, explaining “we know with this uranium price that projects are economic...that's why they're switching them all back on”.Unlike hard rock or open pit mines, the ISR mining method utilized by GTI requires very little surface infrastructure or ground excavation, using injection solutions sent down drill holes to dissolve underground uranium ores. This makes permitting and development easier and more cost effective. The company estimates that a 1 million pound per year operation would require only $30-40 million in capital using ISR techniques.With uranium demand showing no signs of shrinking in America even before the more than 30 new reactors under construction come online, the window is open for GTI Energy to demonstrate sizeable low-cost uranium resources that can assist in reviving domestic nuclear fuel production. The proven ISR geology de-risks the path forward as an aggressive drilling campaign aims to expand resources rapidly amid an incredibly bullish environment for uranium prices into the foreseeable future. Nuclear utilities would welcome these future US-mined pounds to reduce import reliance and increase domestic energy security.—View GTI Energy's company profile: https://www.cruxinvestor.com/companies/gti-energySign up for Crux Investor: https://cruxinvestor.com

Interview with David Cates, President & CEO of Denison MinesOur previous interview: https://www.cruxinvestor.com/posts/denison-mines-tsxdml-de-risking-activities-delivered-excellent-results-for-the-phoenix-project-3867Recording date: 24th January 2024With the uranium market swinging back into deficit conditions after years of oversupply, prices have embarked on a major bull run since early 2023. Spot prices have soared from below $30 per pound to over $100 recently. Higher prices will be needed to incentivize new mine development capable of rebalancing the market. This structural backdrop points to a prolonged period of strength ahead. Denison Mines finds itself well positioned to capitalize as it advances its flagship Wheeler River project in Canada towards production later this decade. The company has invested significantly in recent years to derisk Wheeler River operationally and permit it for development. The technical viability of the project utilizing the in-situ recovery (ISR) mining method was demonstrated via a field test recovering over 14,000 pounds of uranium. Regulatory approval remains on track for 2025. Concurrently, Denison has built up a strong balance sheet including a strategic uranium inventory worth over $300 million that provides funding flexibility. This enviable financial position enables the company to progress towards a development decision without substantial dilutive financing. Production at Wheeler River could commence by late 2027 at an initial rate of 8-9 million pounds per year. Beyond the flagship asset, Denison's portfolio includes minority interests in operating mines like McClean Lake, which offers leverage to Denison's additional pounds. The company also holds earlier stage exploration projects that provide investors with added upside exposure.Denison finds itself perfectly positioned to ride the crest of a strengthening uranium market. As it de-risks and develops its assets into production this decade, investors have an opportunity for substantial returns over a multi-year investment time horizon.—View Denison Mines' company profile: https://www.cruxinvestor.com/companies/denison-mines-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Alex Pernin, CEO and Kevin MacLean, CIO of Star Royalties Ltd.Our previous interview: https://www.cruxinvestor.com/posts/star-royalties-strr-first-mover-originating-carbon-offset-royalties-1670Recording date: 23rd January 2024Star Royalties (TSXV: STRR) offers a compelling mix of deeply undervalued existing assets plus high-growth potential in the booming carbon credit market. Despite flying under the radar, this royalty company delivers an attractive value proposition for investors seeking commodities exposure coupled with steady cash flows.Green Star Valuation Disconnect Represents Near-Term WindfallThe real prize lies in Star's wholly-owned Green Star Royalties subsidiary, focused on financing high-quality carbon offset projects. A recent $21M strategic investment from energy giant Cenovus values Green Star at $82M - 3x Star's entire current market cap.Star Royalties retains 45.9% ownership of Green Star, presenting an enormous upside as the market eventually re-rates the stock to match this appraised value.Major Partners Validate Business ModelAlongside Cenovus Energy, mining leader Agnico Eagle owns 26% of Green Star after conducting extensive due diligence. Their backing signals confidence in management's proven pedigree and the tremendous market potential as carbon credit demand accelerates.First-Mover Advantage in High-Growth MarketGreen Star deploys capital into agriculture, forestry and clean technology projects generating certified carbon offsets. With a specialty in high-integrity credits and a North American focus, Green Star dominates a fragmented space poised for massive growth.Their low-cost production model also ensures strong profitability even if market carbon prices decline substantially from ~$50 per ton currently.Precious Metals Exposure Provides Asset BackingStar Royalties retains royalties on advanced exploration-stage gold assets plus plans to spin these out upon achieving fair value. This provides stable backing plus optionality for precious metals upside.Compelling Risk-Reward for Growth and IncomeFor investors, Star Royalties offers a compelling mix of deep value (Green Star disconnect), strategic partners validating the opportunity, exposure to booming carbon credit demand, inflation protection from carbon pricing/gold, experienced and capable leadership, and planned Green Star IPO unlocking further growth funding.It's a high-upside play merging growth and income for a commodity market recovery. This overlooked royalty company shines bright among plenty of overvalued stocks across sectors today.—View Star Royalties' company profile: https://www.cruxinvestor.com/companies/star-royalties-ltdSign up for Crux Investor: https://cruxinvestor.com

Interview with Dan Noone, CEO of G2 GoldfieldsOur previous interview: https://www.cruxinvestor.com/posts/g2-goldfields-tsxvgtwo-expanding-high-grade-gold-discovery-in-guyana-4693Recording date: 22nd January 2024High-Grade Gold Developer Demonstrates Rapid Path to ProductionG2 Goldfields is focused exclusively on advancing its high-grade gold discovery in Guyana, South America towards near-term production to crystallize value for shareholders.With an initial resource of 1.2 million ounces grading 9 g/t gold, this deposit boasts exceptional grades setting the stage for low cost, highly profitable mining operations. Ongoing drilling aims to rapidly expand resources while also derisking the pathway to bring this ore into production within a condensed 2-3 year timeframe.The project area covers significant strike length along a gold-fertile structural corridor with multiple mineralized zones identified across 17km. Continuity of high-grade ore shoots and consistent geological features confirm resource upside as exploration continues systematically testing the various targets.Validating the world-class pedigree and district scale possibilities, major gold producer AngloGold Ashanti recently made a strategic investment into G2 Goldfields at a 40% premium to prevailing share prices. This provides a strong vote of confidence in the project.The company's experienced leadership team brings substantial expertise both discovering and developing multimillion ounce gold deposits around the world. Their strategic focus beyond simply outlining larger resources sets them apart - systematic drilling also aims to de-risk the pathway for rapidly achieving commercial production.With continued exploration success over the coming year, G2 Goldfields is positioned to emerge as an advanced stage, low cost gold developer in a premier mining jurisdiction. Near term catalysts include an updated resource estimate in Q1 2023 expected to show substantial growth.—View G2 Goldfields' company profile: https://www.cruxinvestor.com/companies/g2-goldfieldsSign up for Crux Investor: https://cruxinvestor.com

Interview with David Kelley, President & CEO of Chakana Copper Corp.Our previous interview: https://www.cruxinvestor.com/posts/chakana-copper-tsxvperu-financing-ready-ready-to-drill-4736Recording date: 22nd January 2024Chakana Copper is focused on demonstrating the sizable copper exploration upside at its Soledad project in Peru through an upcoming 2400 meter drill campaign. Having raised over $3 million from renowned resource investor Rick Rule and Goldfields to fund this work, Chakana aims to prove up what it believes could be a major high-grade copper discovery.Situated in a prolifically mineralized tourmaline breccia pipe-hosting region of Peru, Soledad contains exceptionally high-grade copper at surface in pipes analyzed thus far. One intercept graded an impressive 27% copper and nearly 1 kilogram per tonne silver. Mineralization observed has also been continuous, with a drill hole returning 485 meters at over 1% copper from surface.While precious metals like silver and gold predominate near surface, Chakana President and CEO David Kelley views Soledad as fundamentally a premier copper asset. The primary Solita Norte target exhibits clear discovery potential, with Kelley stating if exploration efforts hit mineralization there, “we’re going to hit it out of the park for sure.”The Solita Norte target encompasses a 2.5 square kilometer copper and molybdenum anomaly central to surrounding breccia pipes and resides beside key indicators of a significant copper-bearing intrusive center.Positive characteristics notwithstanding, shares in Chakana Copper trade around all-time lows, presenting a compelling risk/reward opportunity. Chakana provides leveraged exposure ahead of both extensive drilling on its copper assets and expectations for multi-year copper supply shortfalls signaling substantially higher prices by 2025. Exploratory success could rerate Chakana considerably higher.—View Chakana Copper's company profile: https://www.cruxinvestor.com/companies/chakana-copperSign up for Crux Investor: https://cruxinvestor.com

Interview with Terri Anne Welyki, VP Corporate CommunicationsRecording date: 19th January 2024Strategic Copper Asset Next to Major Mine Presents Growth PotentialBarksdale Resources offers investors compelling leverage to surging copper demand through its strategically positioned Sunnyside project in Arizona. Located immediately adjacent to South32’s Hermosa-Taylor mine, a $2.1 billion copper operation, Sunnyside is likely geologically contiguous to this world-class deposit.Historic drilling within project boundaries during the 1980s intersected high-grade copper, confirming mineralization extends into Barksdale’s holdings. However, low copper prices at that time meant Sunnyside was never advance. Barksdale believes the project warrants an updated drilling campaign using modern techniques to thoroughly explore and define the copper resources available.After a 5-year intensive permitting process, Barksdale has secured authorizations for extensive drilling activities, including along the border with South32’s mine site. This drilling aims to confirm and expand the scale of copper mineralization identified historically.The first phase comprises 7,000 meters with expedited assay lab analysis expected in early 2024. Additional drilling to earn a 67.5% project interest will continue thereafter.In addition to proving up an independent copper resource, success at Sunnyside could have strategic implications. South32 may assess integrating any discoveries into their existing Hermosa-Taylor infrastructure given the ease of access from underground workings mere meters away. Barksdale’s drilling permits notably provide flexibility for the company to pursue mineralization across into South32’s own tenure.Major miners including Teck Resources and Osisko Gold Royalties have recognized this value proposition, becoming key Barksdale shareholders. Their industry expertise validates district potential.Sunnyside offers exceptional leverage to both the upside of exploration breakthroughs and opportunities for partnerships with senior miners positioned nearby. Barksdale represents a unique copper investment in what could emerge as one of America’s preeminent copper districts.With approximately C$7 million raised in recent months, Barksdale has the capital to accelerate drilling activities to drive near-term catalysts. Expect a consistent news flow throughout 2023 that could substantially rerate Barksdale as assays demonstrate the grades and scale available at this storied past-producing project. Barksdale offers investors looking to ride the copper supercycle a prime opportunity to capitalize on a recovering market, surging sustainable energy demand, and scarcity of development-ready copper projects in first-world mining jurisdictions. Position accordingly with shares appearing meaningfully undervalued at current levels.—Learn more: https://cruxinvestor.com/companies/barksdale-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with American Eagle Gold's CEO, Anthony Moreau, and Geologist Anthony Greig.Our previous interview: https://www.cruxinvestor.com/posts/american-eagle-gold-a-promising-junior-explorer-in-bcs-golden-triangleRecording date: 19th January 2024Overlooked Explorer Ready for Takeoff After BC Copper BreakthroughsAmerican Eagle Gold has remained largely under the radar amongst investors, despite posting a series of exceptional high-grade copper drill results last year from its flagship project in British Columbia. With copper supply constraints causing prices to soar, the red metal has become one of the hottest commodities for investors. Yet few seem aware of American Eagle’s potential as an emergent copper developer.The company’s 100% owned Nak project, located near Smithers BC, offers easy accessibility that enables cost-efficient year-round drilling. American Eagle has utilized modern geophysical targeting and geological modeling techniques to penetrate deeper than past operators at Nak. The latest inclined drill holes have delivered stunning grades over exceptional widths that were missed by earlier shallow holes focused along narrow mineralized structures.Recent results include 304m at 1.09% copper equivalent and 800m at 0.59% copper equivalent. The headline copper grades alone place American Eagle amongst the top peer explorers globally. Just as significantly, the long continuous mineralized intercepts clearly indicate a very extensive system – with tremendous scale potential as drilling continues to delineate and expand the known zones of high-grade material.With cash funding fully in place, no need to return to markets in the near term, and an experienced technical team aiming to systematically build out a premier asset in a tier-one jurisdiction, American Eagle checks all the boxes for investors seeking maximum leverage to copper prices.Yet the company's modest $40M valuation fails to reflect the remarkable exploration progress achieved so far. American Eagle insists it is only a matter of time before peer explorers, institutional investors and major copper producers take notice of what has been uncovered at Nak. Prime drill targets remain wide open for expansion, promising further game-changing discoveries in future drilling campaigns.For risk-tolerant copper bulls, American Eagle may represent the ultimate overlooked exploration bargain opportunity. Several fundamental factors underscore the investment case:Robust Economics: Recent results confirm broad zones of higher-than-average copper grades from surface that could enable simple low-cost mining operations to be established early to generate initial cash flows.Infrastructure Advantages: Year-round drilling access via paved roads dramatically cuts exploration costs and provides inherent development benefits over remote peers. Proximity to town/workforce also boosts efficiencies.Strategic Backing Validates Potential: Major mining investment firm Tech has already invested in American Eagle multiple times - confirming technical merits of asset.Systematic Success Mitigates Risks: 17 holes drilled so far have all intersected mineralization from surface - establishing extensive mineralized footprint. Metallurgy of nearby analogous deposits reflects highly favorable recoveries.As American Eagle continues unlocking the full extent of its areas of high-grade mineralization in a premier jurisdiction with key infrastructure advantages, the investment opportunity around this overlooked copper explorer promises to only grow more compelling._Learn more: https://cruxinvestor.com/companies/american-eagle-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Stephen Stewart, CEO of QC Copper & GoldOur previous interview: https://youtu.be/AGIoqUs4BAARecording date:18th January 2024QC Copper Positions for a Copper Breakout in QuebecWith copper supply deficits projected for the coming decade against the backdrop of rising demand from global decarbonization initiatives, few Canadian-listed junior mining companies hold assets boasting grades that could attract major producer interest quite like QC Copper & Gold Corp. The company’s flagship Opemiska Copper Complex in Quebec’s Chapais-Chibougamau region contains an in-pit constrained resource with over 2 billion pounds of copper. With a copper grade of nearly 0.8%, Opemiska’s standalone copper grades run 2-3x higher than comparable large-scale projects. Yet the asset benefits tremendously from existing local infrastructure thanks to over 50 years of prior production history under previous operators.Now with an updated technical report in hand validating the impressive copper grades, QC Copper turns its focus to demonstrating feasibility for restarting production. Defining infrastructure requirements and pit parameters will clarify potential social or environmental impacts, which remain top of mind given Opemiska’s proximity to the local town center. However, the company maintains excellent relations with local community stakeholders, grounded in transparency of intentions balanced by a track record of creating positive economic opportunities. Regional support from the Quebec government also bodes well for permitting and development timelines while containing jurisdictional risks.Looking beyond the main deposit, QC Copper views Opemiska as an under-explored district play with several near mine satellite targets already identified but never systematically assessed using modern exploration techniques. Prior owners focused efforts on underground production, leaving substantial discovery potential at depth and more critically for QC Copper, also laterally from open pit friendly zones. The company’s methodical approach towards compiling and analyzing the region’s robust exploration database prior to drilling speaks to both technically and financially disciplined leadership. Any exploration success could meaningfully bolster already impressive copper grades as the company examines a range of scalable mining scenarios.While a hesitant junior mining investment environment may temper expectations for QC Copper’s valuation in the coming months, the project’s copper endowment and infrastructure advantages position the company exceedingly well for accretive transactions. The notion of majors paying substantial premiums to secure copper production in mining-friendly jurisdictions carries plenty of recent industry precedent. As QC Copper’s exploration and study work progresses further de-risking future production potential, expect Opemiska to attract no shortage of suitors. Sooner or later, one of them will prise this copper-rich asset from the hands of QC Copper’s shareholders – albeit likely at an offer too good to refuse.—Learn more: https://cruxinvestor.com/companies-qc-copper-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Francis MacDonald, CEO of Li-FT PowerOur previous interview: https://www.cruxinvestor.com/posts/li-ft-power-advancing-high-grade-lithium-project-quickly-through-the-phasesRecording date: 8th December 2023This Lithium Explorer is Racing the Clock to ProductionWhile the recent plunge in lithium prices has paralyzed many industry players, one ambitious developer sees the current slump as an ideal opportunity to aggressively advance its large-scale project.Li-FT Power controls the high-grade Yellowknife lithium pegmatite deposit, which is already visible from satellite imagery. Historic work and initial drilling has revealed both the significant size potential and consistently robust grades of this asset.With the sector embroiled in turmoil, Li-FT's CEO Francis MacDonald believes now is the optimal time to expedite resource expansion and development. As rivals batten down the hatches, Li-FT is moving swiftly to demonstrate the world-class attributes of its deposit and sprint towards production ahead of the field.The rationale is clear - establish low operating costs early to ride out periods of oversupply. MacDonald explains, “You want to have built it five years before and have paid off all your capex and captured market share." With future waves of new lithium projects inevitable, early movers will enjoy major cost advantages.Most crucially, Li-FT has just commenced an aggressive 15,000 meter drill campaign to rapidly expand resources. While peers preserve cash in weaker conditions, Li-FT continues drilling to extend its strategic head start.The company's bold moves to solidify its early mover status ahead of the competition could reward shareholders handsomely. As markets rebalance and lithium prices recover, Li-FT may have a clear path towards lower-cost production thanks to its foresight and speed.For investors seeking leveraged upside to the coming wave of lithium demand growth, Li-FT Power presents a unique opportunity - the chance to back a motivated operator urgently developing a large asset ahead of the industry cost curve.—Learn more: https://www.cruxinvestor.com/companies/li-ft-power-ltdSign up for Crux Investor: https://cruxinvestor.com

Interview with Nick Brodie, Director & CEO of Golconda Gold LtdOur previous interview: https://www.cruxinvestor.com/posts/galane-gold-gg-addressing-issues-head-on-ready-for-2022-1398Recording date: 17th January 2024Golconda Gold Positioned to Unlock Value from Long-Life South African AssetGold miner Golconda Gold operates two assets - the Galaxy mine in South Africa and the Summit project in New Mexico. Galaxy is an underground mine with over 130 years of production history and permitted capacity for 50,000 tons per month of ore processing. However, it is only operating at around 15,000 tons per month currently. Through a relatively straightforward expansion plan, Golconda aims to ramp up Galaxy to produce 40,000 ounces of gold per year within the next 3-4 years.The key enabler for this production growth is a recent $5 million streaming agreement secured from Empress Capital. Golconda will deliver the first 8,000 ounces produced to Empress at 20% of the prevailing gold price. Thereafter, Empress is entitled to a reduced 2% royalty over an additional 12,000 ounces, before dropping down to a 1.5% life-of-mine royalty. This customized and capped gold stream provides non-dilutive funding for Golconda to purchase necessary expansion equipment and undertake development to open up more stoping areas underground.Importantly, the expansion is completely within the footprint of existing mining works and utilizes Golconda's permitted 2.5 million ounce mineral resource, of which just over 50% has been delineated so far. At the target 40,000 ounce annual rate, Galaxy's current 1.5 million ounce resource could theoretically support over 35 additional years of mine life with further exploration upside from neighboring ore bodies.Previous technical challenges with flooding and equipment reliability have impacted Galaxy's production consistency. However, Golconda's experienced management team has addressed these issues, putting in place upgraded pumping infrastructure. Meanwhile, new funding will facilitate maintenance and equipment availability improvements to minimize downtime. From this more reliable production base, Galaxy's output is envisaged to double within the next year.Beyond Galaxy, Golconda also owns the Summit project - a previously producing gold-silver project in New Mexico with significant existing infrastructure. A 2022 Preliminary Economic Study defined a 50,000 ounce gold equivalent potential operation over a 7-year mine life at all-in sustaining costs below $900 per ounce. Subject to sourcing $7-8 million in project financing through an offtake contract or additional streaming, Summit could provide valuable production diversification and cash flow upside for Golconda investors.With excess process capacity, established resources, and experienced operational management, Golconda Gold presents a unique value investment opportunity. Near term funded growth towards 40,000 ounces per year of low-cost gold production could be just the start of Galaxy's renaissance.—View Golconda Gold's company profile: https://www.cruxinvestor.com/companies/golconda-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Paul West-Sells, President & CEO of Western Copper & Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/western-copper-gold-wrn-mitsubishi-and-rio-tinto-validation-3082Recording date: 16th January 2024Western Copper & Gold Steadily Advances Flagship Casino Project, Targeting Copper Supply ShortageYukon-based Western Copper & Gold continues methodical progress developing its large-scale Casino copper/gold project. With backing from major mining companies Rio Tinto and Mitsubishi Materials, Western Copper looks positioned to capitalize on anticipated copper demand growth driven by the global energy transition.In a recent interview, Western Copper CEO Paul West-Sells touted a new $6 million investment from Rio Tinto in 2023. Rio Tinto has now invested almost 10% in the company after extensive due diligence. This reinforces its confidence in Casino’s potential. Western Copper is also collaborating closely with Rio Tinto on issues like permitting, securing green power solutions for the mine, and improving Casino’s economics.On permitting, Western Copper remains on track to submit its main application in late 2024. While final approval will take over three years, this will mark a major derisking milestone. Successfully advancing Casino through permitting could significantly re-rate Western Copper given looming copper supply shortfalls.The company had around $28 million in cash reserves entering 2024 – sufficient to reach upcoming milestones. With Rio Tinto and Mitsubishi invested in the project, Western Copper can secure additional financing as needed to maintain progress. The major partners’ backing helps derisk Casino for new investors.Overall, Western Copper offers leveraged exposure to long-term copper demand growth driven by electrification. Casino’s large scale and favorable economics are rare among new projects. Rio Tinto’s expanding stake signals its confidence in both Casino’s merits and Western’s capacity to steer through approvals.While Casino’s 8+ year timeline requires patient capital, the project’s upside potential is substantial. As the energy transition accelerates and the copper market enters sustained deficits, Casino is primed to supply the next generation of global copper production. For risk-tolerant investors, Western Copper presents a unique opportunity.—View Western Copper & Gold's company profile: https://www.cruxinvestor.com/companies/western-copper-gold-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Marshall Abbott, Director & CEO of Arrow Exploration Corp.Our previous interview: https://www.cruxinvestor.com/posts/arrow-exploration-axl-high-margin-oil-production-funds-development-1801Recording date: 16th January 2024Colombian Producer Poised for Breakout GrowthArrow Exploration holds prime acreage in the oil-rich Llanos Basin of Colombia, where it has built steady production growth and proven oil well economics. After doubling 2023 output to 3,280 barrels per day, the company anticipates replicating its success in 2024. "We have doubled production from the beginning of last year to now and we feel we're on a path to double production again by the end of 2024," stated CEO Marshall Abbott.The current production base generates robust cash flow, funding an active $45 million drilling campaign this year. Arrow will drill 15 new wells, focused on lower-risk development locations, but also testing "a couple of exciting exploration prospects." Prior 3D seismic imaging helps de-risk reservoir targets within the company's core holdings.Most tantalizing is the shift towards horizontal drilling. Arrow has scheduled six horizontal wells in 2024, with over 1,000 barrels per day expected from each. "The technology is fabulous and geost steering is a fun part of the game," remarked Abbott. By unlocking greater contact with reservoir rock, horizontal completions translate to substantially higher recovery rates and value creation.Underlining its financial position, Arrow held approximately $15 million in cash exiting 2023, with no debt obligations. Operating cash flow is on track to average $2.5-3 million monthly this year after royalties. The scaled-up drilling program funded through internal resources provides non-dilutive growth. Abbott stressed, "From a financial perspective we're very healthy."Trading at just 2x cash flow, Arrow remains undervalued relative to near-term production and cash flow expansion. Once the market recognizes Colombia's high-margin barrels and Arrow's consistent execution, shares could re-rate materially higher.—View Arrow Exploration's company profile: https://www.cruxinvestor.com/companies/arrow-explorationSign up for Crux Investor: https://cruxinvestor.com

Interview with Simon Clarke, CEO & Director of American Lithium CorpOur previous interview: https://www.cruxinvestor.com/posts/american-lithium-tsx-vli-ruling-clears-path-for-lithium-uranium-assets-4462Recording date: 9th January 2024American Lithium Corp provided investors an update on recent progress for both its Falchani lithium project and Macusani uranium project in Peru. As electric vehicle and battery markets boom globally, American Lithium aims to establish itself as a premier supplier of the critical raw materials needed to feed this growth.The company continues working to capitalize on strong lithium market conditions by advancing Falchani towards a 2025 targeted production start. Meanwhile, American Lithium believes Macusani has reached sufficient scale to support a standalone uranium developer company and plans are underway to spin out the asset.Falchani Economics Solidify Position as Global LeaderAn updated Preliminary Economic Assessment (PEA) for the Falchani lithium deposit shows substantially improved economics compared to the previous study. The NPV has more than tripled to $5.1 billion on an after-tax basis, assuming production of lithium carbonate. The company remains on track to deliver a Pre-Feasibility Study (PFS) by end of Q2 2024 as the next step towards potential development.Importantly, the improved economics are driven by optimization of the processing flow sheet and operating parameters rather than just inflated resource estimates. Initial capex is estimated at $681 million for the 23,000 tpa Phase 1 lithium carbonate project. Critically, operating costs remain exceptionally low versus lithium peers at just over $5,000 per tonne.The company continues permitting discussions with the Peruvian government, targeting a 2025 final investment decision for potential project development and mine construction. Additional drilling is likely to further expand resources after recent strong results.Uranium Spinout Unlocks Hidden ValueAt the Macusani uranium project, also located in Peru, American Lithium is planning a spin out into a standalone uranium-focused entity. Despite strong prices, the market currently assigns little direct value to Macusani.Post-spinout, CEO Simon Clarke sees potential for the new company to achieve a $150-200 million market capitalization based on the quality of the advanced project. This would finally provide the project visibility and potential to re-rate towards valuations commensurate with uranium developers.The company intends to maintain operational leadership during the transition phase to preserve vital local community relationships before transferring full control. Permitting, feasibility study progression, and additional exploration drilling will be areas of focus initially.—View American Lithium's company profile: https://www.cruxinvestor.com/companies/american-lithiumSign up for Crux Investor: https://cruxinvestor.com

Interview with Rick Howes, President & CEO of Reunion Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/reunion-gold-rgd-gold-discovery-and-resource-estimate-in-guyana-update-3198Recording date: 12th January 2024Fast-Tracking Oko West: Reunion's Path to Gold ProductionReunion Gold has firmly set its sights on reaching gold production at its Oko West project in Guyana by 2027. What sets the company apart is a methodical execution strategy to advance Oko West through studies and permitting to support this aggressive timeline.With approximately 4.3 million ounces of gold outlined since discovery in 2021, the deposit offers ample scale to underpin a meaningful mining operation. The resource estimate continues growing. While details will be forthcoming in a Preliminary Economic Assessment expected in Q2 2024, Reunion envisions both open pit and underground mine scenarios, affirmed by over $70 million raised last September to fully fund these studies.President and CEO Rick Howes attributes being sufficiently capitalized to continue advancing Oko West without further dilution as a key accomplishment in 2023, setting the stage for near-term development. The raise came despite volatile markets, aided by key support from La Mancha after extensive due diligence.Howes highlights 2024 as a pivotal year on the path to production. In addition to the PEA, Reunion is negotiating a minerals agreement to define project fiscal terms and economics. Baseline environmental field studies wrap up this quarter in preparation for submitting a formal EIA report in Q3 2024.The feasibility study launches in Q3 2024 on the heels of the PEA. Howes stresses exercising prudence defining project parameters and costs at this phase. By maintaining realistic assumptions and detailed engineering, he expresses confidence in keeping Oko West on budget and schedule.The final pieces include receiving key permits around year-end 2024 while finishing the feasibility study in Q1 2025. This timeline aligns for Reunion to make an official construction decision in 2025. Detailed engineering, confirming development capital, and starting earthworks may quickly follow.While concentrated on advancing Oko West, Reunion intends to keep exploring. Additional discoveries could further improve project economics. The company also terminated an earlier alliance with Barrick, enabling full focus on its Guyana project.Reunion Gold demonstrates critical traits for success: quality asset, execution capability, and sufficient capital. Investors seeking a high-grade gold developer positioned to reach production this decade may find opportunity in Reunion Gold.—View Reunion Gold's company profile: https://www.cruxinvestor.com/companies/reunion-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Troy Boisjoli, CEO of ATHA Energy Corp.Recording date: 12th January 2024Big Vision Explorer ATHA Energy Targets Uranium Riches Across CanadaAs uranium fundamentals reach their most constructive levels in over a decade, ATHA Energy is expeditiously building a portfolio spanning over 7 million acres of highly prospective ground focused squarely on tier-one Canadian mining jurisdictions. Anchored by the massive Hook Lake land package in Saskatchewan’s uranium-rich Athabasca Basin, the company also holds key assets in Nunavut and Northern Saskatchewan maturing from early exploration up to historic resources.“The long-term outlook in the uranium space right now is the strongest I've ever seen it,” said CEO Troy Boisjoli amid a recent company interview. “The time to invest and advance across the exploration risk spectrum is a great time." ATHA Energy is positioning itself as an emergent sector leader, systematically deploying capital to expand resources and make new discoveries against exceptionally constructive uranium tailwinds.The Hook Lake project immediately thrusts ATHA Energy into rarified air as one of the dominant landholders in the world’s highest grade uranium district. Encompassing over 3 million acres (12,000 square kilometers), Hook Lake offers immense running room to apply modern exploration techniques and capital. Initial survey work and drill testing is already bearing fruit with over 90 million pounds of U3O8 discovered across three zones open in multiple directions.Beyond Hook Lake, deals announced in late 2023 to acquire 92 Energy and Latitude Uranium provide ATHA a foothold in Saskatchewan’s GMZ uranium district and Nunavut’s past-producing Angilak deposit. Boisjoli sees GMZ as geologically analogous to the prolific 500-million-pound Rabbit Lake trend, with opportunities to expand the existing deposit and test multiple targets along trend. At Angilak, he highlights 60% resource growth from limited drilling by the previous operator.With commodity prices rising amid shrinking global inventories, Boisjoli contends that now presents an optimal time to deploy risk capital along the exploration curve. ATHA Energy offers investors leveraged exposure to a strengthening uranium bull market underpinned by both high-impact exploration and strategic resource expansion. The company has both the technical chops and access to capital to unearth substantial shareholder value as it works to cement itself as an up-and-coming Canadian uranium leader.—Learn more: https://cruxinvestor.com/companies/atha-energySign up for Crux Investor: https://cruxinvestor.com

Interview with Mark Selby, CEO of Canada NickelOur previous interview: https://www.cruxinvestor.com/posts/canada-nickel-tsxvcnc-why-we-might-see-a-strong-finish-to-year-end-4510Recording date: 14th January 2024Canada Nickel has secured three high-profile corporate backers to help accelerate development of its wholly-owned Crawford nickel-cobalt sulfide project. Located in Timmins, Ontario, the asset has the potential to become one of the world's largest nickel sulfide mining operations.Given Crawford’s relative proximity to the US border, Canada Nickel believes it can help establish a new nickel supply hub to feed surging demand from electric vehicle battery factories across North America.Crawford’s world-class credentials have now earned validation through major investments from Korean battery materials manufacturer Samsung, diversified global mining giant Anglo American, and Canadian senior gold producer Agnico Eagle.Samsung’s strategic investment provides strong customer endorsement. Its participation highlights automakers’ desires for regional nickel production centers close to manufacturing hubs, reducing supply chain complexity.Meanwhile, Anglo American and Agnico Eagle underscore mining majors’ increasing appetite for top-tier nickel assets to capitalize on the global energy transition. Their backing signals confidence in Canada Nickel’s geological hypotheses around the potential to prove up an entire nickel district.The recently secured funding puts Canada Nickel in a strong position to fast-track permitting, exploration, and project development. The company anticipates having full financing in place for Crawford before year-end 2024, facilitated by its new corporate allies.Construction would commence promptly upon receipt of final permits in 2025. This could ultimately make Canada Nickel the leading North American pure-play nickel producer just as regional demand begins accelerating dramatically.Exploration results across its prospective district continue gaining momentum. Ongoing drilling campaigns aim to unlock what CEO Mark Selby has labeled a “pipeline of significant nickel deposits.”Success could ultimately support a district-level production hub underpinning 200,000-300,000 tonnes of annual nickel output.For investors, Canada Nickel provides differentiated leverage to the heart of the energy transition story - meeting fast-growing nickel demand in geo-politically stable jurisdictions. The potential world-scale Crawford anchor and broader district upside make the opportunity particularly compelling.—View Canada Nickel's company profile: https://www.cruxinvestor.com/companies/canada-nickelSign up for Crux Investor: https://cruxinvestor.com—View Canada Nickel's company profile: https://www.cruxinvestor.com/companies/canada-nickelSign up for Crux Investor: https://cruxinvestor.com—Learn more: https://cruxinvestor.comSign up for Crux Investor: https://cruxinvestor.com

Interview with Brandon Munro, MD & CEO of Bannerman Energy (ASX: BMN, OTCQX: BNNLF, NSX: BMN)Our previous interview: https://www.cruxinvestor.com/posts/bannerman-energy-asxbmn-how-uranium-term-contracts-get-signed-3814Recording date: 12th January 2024With uranium prices stampeding higher as nuclear power generation expands globally, Bannerman Energy offers a prime avenue to maximize gains from the supply-demand imbalance rapidly unfolding. The company’s advanced-stage Etango project in Namibia presents a near-term production opportunity ideal for this bull run.Fully permitted and finalizing pre-construction activities, Etango narrowly leads the field of potential near-term uranium mine developers. Featuring a massive resource amenable to low-cost open pit heap leach extraction, the project boasts competitive all-in sustaining costs allowing profitability even at far lower prices. Expandable across its kilometers-long mineralized trend, Etango should maintain low operating costs for decades.Hefting a construction-ready war chest topping $35 million, Bannerman needs no external funding to reach the final investment decision triggering start of mine development. The company can thus maximize leverage to rising prices by avoiding shareholder dilution. Savvy management has patiently advanced Etango whilst acquiring every needed permit rather than rushing construction when uranium lingered around $30 per pound.Instead of typical project financing likely requiring metal stream agreements eroding future revenues, Bannerman entertain more flexible structures like partnerships with downstream fuel buyers. Such co-investors’ interests align better with shareholders’ aims of maximizing cash flows. Industry funding offers another means to limit equity dilution if required.With few other projects sharing Etango’s advanced preparation and massive scale, Bannerman is positioned amongst the vanguard of likely suppliers into a wildly bullish uranium marketplace. As the first surge of unfilled utility demand strikes the market, contract volumes and prices alike look set to vault higher. Inking long-term agreements over coming quarters promises to lock in elevated returns compared to when uranium oscillated listlessly at multi-decade lows.Rather than chasing explorers hoping to someday discover viable deposits or developers struggling through permitting and studies, savvy investors should consider the near-producers like Bannerman. Poised to swing into production rapidly, such companies offer real leverage to skyrocketing spot prices whilst carrying lower risks inherent in early-stage ventures.As a seasoned operator in uranium’s premier mining jurisdiction with a straightforward, derisked heap leach project prepared for imminent construction, Bannerman checks all the boxes for investors seeking maximum exposure to the nuclear power industry’s escalating supply deficit. The company appears positioned amongst the likely first recipients of surging investment capital currently pouring into the uranium sector.Bet on Bannerman Energy to deliver world-class uranium returns as this emerging supply crisis pushes nuclear utilities into bidding wars over scarce uncontracted volumes from Namibia’s next producer.—Learn more: https://cruxinvestor.com/companies/bannerman-energySign up for Crux Investor: https://cruxinvestor.com

Interview with Wayne Heili, MD of Peninsula Energy Ltd.Our previous interview: https://www.cruxinvestor.com/posts/peninsula-energy-asxpen-this-is-a-better-solution-3815Recording date: 11th January 2024Peninsula Positions for Uranium Resurgence With 2024 Production PlansAustralian uranium developer Peninsula Energy (OTCQB:PENMF) believes it has addressed the challenges that hindered its production plans in 2023 and can now fast-track efforts to join the ranks of uranium suppliers by late 2024. The company is completing construction of a processing facility at its Lance project in the U.S. to produce yellowcake from an in-situ recovery (ISR) operation in Wyoming. Peninsula aims to ramp up to an initial production rate of 2 million pounds U3O8 per year.According to CEO Wayne Heili, securing their own backend capability after originally planning for toll processing will enable Peninsula to reduce costs and more than double targeted output relative to the prior satellite approach. The decision did push back first production, but the extended timeline may prove fortuitous if uranium markets continue recent strength.Following an institutional placement and share purchase plan raising A$60 million, Heili confirmed Peninsula now has adequate funding to finish plant modifications and infrastructure at Lance to achieve production in 2024. The company also structured additional financing options potentially worth around A$40 million to provide further support for the ramp-up phase if required.Importantly, Peninsula Energy has substantial existing contract coverage inherited from the project’s prior owners that will help de-risk early operations. However, with only about one-third of the expanded production capacity spoken for so far, the company retains significant exposure to rising spot and term prices expected due to uranium’s structural supply deficit.Heili points to U.S. policies around Russian uranium imports, renewed buying from the Sprott Physical Uranium Trust, and widening supply/demand imbalances as providing multi-year tailwinds. With mines unable to keep pace with reactor requirements globally, he suggests the market could retest all-time highs above $130 per pound in 2024. That would be a major boon for Peninsula coming online.The Lance ISR technique itself is proven technology, having operated previously, and Heili expressed confidence in bringing production back given his team’s expertise. While timing may trail some other projects, Peninsula anticipates having lower costs than most at around $50 per pound. Thus, profit margins look attractive even on existing contract rates assumed to average $60 to $70.With Peninsula clearing obstacles that distorted its outlook a year ago, investors now have improved visibility on the company’s capability to deliver yellowcake into a strengthening market. The strategic move to control its own backend processing de-risks operations and allows increased scale. Heili contends that with all key pieces in place, “2024 is about execution and getting the construction done and ready for production.” The coming 18 months will demonstrate whether Peninsula can fulfill its production promises to shareholders.—View Peninsula Energy's company profile: https://www.cruxinvestor.com/companies/peninsula-energySign up for Crux Investor: https://cruxinvestor.com

Interview with Dan Wilton, CEO of First Mining GoldOur previous interview: https://www.cruxinvestor.com/posts/first-mining-gold-tsxff-insiders-buying-signals-confidence-with-projects-4494Recording date: 10th January 2024First Mining Gold Positioning Major Gold Assets to Capture Value in Recovering Gold MarketLed by mining veteran CEO Dan Wilton, First Mining Gold continues efforts to optimize and advance its Springpole and Duparquet gold projects amidst recent positive developments. Located in stable, infrastructure-rich Canadian jurisdictions, these assets each contain multi-million ounce gold resources with significant exploration potential.Recent drilling at Duparquet demonstrated growth potential, with positive results between two existing deposits pointing to a possible addition of over 2 million ounces. This further strengthens the investment case for what is already one of the largest undeveloped gold projects in Canada. Duparquet drilling aims to showcase the strategic value of these assets to potential partners.Meanwhile at the company's cornerstone Springpole gold project, First Mining is advancing permitting efforts, with Wilton highlighting that "we have some very near-term catalysts there in terms of submitting our final environmental assessment this year.”Importantly, Springpole’s 5+ million ounces of resources means the project’s value can increase substantially in a rising gold price environment. Successful permitting would further derisk this asset.First Mining has also shored up its balance sheet, recently raising $11 million dollars alongside establishing a base shelf prospectus providing additional financing capacity if required.Ultimately, Wilton makes clear these projects have enormous appeal in a consolidating gold industry needing to replace shrinking reserves. Springpole and Duparquet’s scale, exploration upside, and location means they stand to attract major miner interest amidst supportive gold prices. With gold developers trading at historic discounts to producers, partnerships or corporate transactions could unlock significant value.First Mining’s portfolio offers leverage to an upcycle in gold, with near-term catalysts like permitting and drilling to potentially catalyze reratings. For investors, this represents a discounted exposure to tier-one, strategically important gold assets. Executing prudent steps to advance and de-risk these Canadian projects, First Mining’s foundations are firmly in place to capture a recovery when sector sentiment improves.—View First Mining Gold's company profile: https://www.cruxinvestor.com/companies/first-mining-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Bruce Lane, Executive Director of GTI Energy LTDOur previous interview: https://www.cruxinvestor.com/posts/gti-energy-asxgtr-revitalizing-wyomings-historical-isr-uranium-district-4419Recording date: 10th January 2024Australian uranium explorer GTI Energy is aggressively advancing its Lost Creek project towards production in Wyoming's prolific uranium district. Recent confirmation drilling has verified historical data, with mineralization intersected at depth beyond earlier drilling. GTI sees potential to delineate over 10 million pounds of uranium resources, sufficient to support a centralized in-situ recovery (ISR) processing plant in the district.With capital costs estimated at $75-100 million for the processing facilities and wellfield infrastructure, the project requires additional scale. However major uranium miners active nearby point to robust economics from ISR operations in the region even at conservative long-term prices. GTI's Executive Director Bruce Lane highlights free cash flows ranging from $30-50 per pound based on all-in sustaining costs reported locally.This potential upside as resources grow has prompted plans for further drilling both at Lost Creek and the company's nearby Green Mountain project. While equity financing remains an option, GTI is also actively engaged with North American institutional investors to broaden funding avenues and awareness amidst rising global uranium prices.A strengthened on-the-ground presence in Wyoming will reinforce GTI's position amongst local miners and the project's strategic location for development. Past confirmation drilling has already derisked the historical database supporting current resources. Planned drilling aims to unlock the substantial expansion potential remaining from extensive past exploration across GTI's claims during uranium's 1970-80s boom era.With global nuclear growth driving a pending supply shortfall, GTI Energy offers investors exposure to a potential near-term producer in a premier US uranium district on the doorstep of hungry nuclear utilities. Assuming delineation drilling confirms sufficient volumes, the project's centralized ISR processing plant could reap significant margins to underpin strong investment returns._View GTI Energy's company profile: https://www.cruxinvestor.com/companies/gti-energySign up for Crux Investor: https://cruxinvestor.com

Interview with Bradley Rourke, President & CEO of Scottie Resources Corp.Our previous interview: https://www.cruxinvestor.com/posts/scottie-resources-tsxvscot-pursuing-high-grade-bc-gold-discovery-3928Recording date: 9th January 2023Scottie Resources Pursues Potential Million Ounce Gold DepositDespite ongoing challenging market conditions, Canadian gold explorer Scottie Resources remains steadfastly focused on systematically advancing its 100% owned Scottie Gold mine project in British Columbia's prolific Golden Triangle district towards potential delineation of a meaningful maiden mineral resource estimate in the year ahead.With approximately 60,000 meters of drilling conducted since 2018, Scottie CEO Brad Rourke asserts confidence in ultimately demonstrating resource potential of at least 1 million ounces, underpinned by exceptionally high-grade mineralized zones at the Blueberry Contact target among others. Additional step-out drilling has the potential to substantially expand the current understanding of the project's resource growth upside over time.However, with muted risk appetite weighing on capital availability, management faces key strategic decisions around prioritizing accelerating initial resource estimation versus continuing aggressive exploration drilling aimed at new discoveries across the vast 145 square kilometer land package.Despite plans scaled back below original 2024 hopes of over 50,000 meter, Rourke suggests at least 20,000 meters remains achievable this year, affording continued progress particularly as independent consultants work to outline parameters and drilling requirements for reaching the million-ounce resource milestone.Crucially, maintaining 100% ownership without encumbrances provides Scottie flexibility in capital allocation decisions, although funding ultimately determines the work program scale. With general investor enthusiasm around gold's lagging price strength, the company remains cognizant of the need to convey activity through ongoing exploration updates.As work continues, several attributes underline Scottie's fundamental appeal. Exceptionally high grades exceeding 36 g/t gold have been intersected in recent drilling, complementing past production averaging over 16 g/t from the formerly operating Scottie mine. Excellent infrastructure exists nearby, with road accessibility and power access enabling straightforward development logistics.Additionally, metallurgical test work has repeatedly confirmed excellent recoveries for Scottie mineralization using conventional processing techniques employed cost effectively at neighboring operations.Combined with district scale consolidation activity including Ascot Resource's Premier project just 20km away gearing up for first gold production in 2024, the key elements bolstering mine development potential appear well in place to support Scottie's resource growth ambitions long term.For opportunistic investors, Scottie Resources presents a unique leveraged exposure opportunity towards potentially fast-tracking delineation of a compelling maiden gold resource estimate centered around systematically expanded high grade showings surrounding an underexplored past producing mine with significant expansion potential remaining at depth and along strike.While additional drilling meters stand required to reach formal resource definition, early movers backing experienced management could position attractively to capitalize on substantial valuation upside as technical de-risking efforts progress towards demonstrating multi-million ounce potential. For Scottie, laying the groundwork for maiden resource estimation tops 2024 priority lists, promising an eventful year ahead.—View Scottie Resource's company profile: https://www.cruxinvestor.com/companies/scottie-resources-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Tim Moody, President & CEO of Pan Global Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/pan-global-resources-tsxvpgz-growth-focused-copper-play-4472Recording date: 5th January 2024Pan Global Resources is ramping up efforts to swiftly advance its copper project in southern Spain to production. The company raised over $6 million in October 2024 to fund expansive drilling aimed at outlining an initial resource estimate at its flagship La Romana discovery."We're going to hit the ground running with drilling at La Romana to continue delineating the deposit's western extension, with plans for 20-30 holes and around 4,000 meters over the coming months," stated CEO Tim Moody. "An important milestone is fully determining the mineralized zone's scope so we can publish a maiden resource."Moody sees this initial estimate as a potential catalyst for realizing shareholder value. The priority is expanding La Romana, where additional drilling continues encountering copper mineralization. "It's still growing...we've got to define the full extent of this discovery."Beyond La Romana, Pan Global is also drilling the new Cañada Honda discovery and progressing earlier-stage exploration targets across its concessions. Discoveries here could supplement a future La Romana mining operation. "Additional discoveries are where you get really big increases in the company's valuation," Moody explained.Rapid advancement is enabled by Spain's established mining industry and favorable jurisdiction. "Permitting, infrastructure, talent pool - Spain has all the attributes you want to expedite development," described Moody. He highlights straightforward geology and minimal technical complexity at La Romana itself.Moody says tapping into booming copper demand could be achievable within 3-4 years from maiden resource to production. He's currently showcasing the asset to North American investors."We already have a discovery with strong economics. Our Spain location de-risks construction and permitting. And we have tremendous upside from new discoveries across our land package," he relayed.With ample funding and drilling now re-started, Pan Global has a clear line-of-sight on revealing the full potential of its Spanish copper assets.—View Pan Global Resources' company profile: https://www.cruxinvestor.com/companies/pan-global-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Bruce Maluish, MD of VRX SilicaOur previous interview: https://www.cruxinvestor.com/posts/vrx-silica-vrx-learning-about-investing-in-silica-sands-market-2132Recording date: 4th January 2024VRX Silica Poised to Capitalize on Favorable Silica Sand Market DynamicsWestern Australian mineral sands developer VRX Silica is nearing key approvals to develop its portfolio of high-grade silica sand projects after extended delays. VRX has completed the final submission for environmental approvals on its flagship Arrowsmith North project and expects the decision from the EPA "anytime soon" according to CEO Bruce Maluish.Silica sand is a niche industrial mineral with applications across glass manufacturing, foundries for metal castings, and emerging markets like solar panel glass. Demand growth has remained robust with the price for VRX's targeted products rising around 10% over the last three years amid tight supply. VRX is targeting export markets in Asia which should provide a stable customer base along with domestic Australian sales.Updating its capital and operating costs to account for inflation, VRX believes the fundamentals remain strong. A 30+ year expected mine life enables the amortization of upfront capex while operating costs have crept up a modest 5%, mostly offset by securing cheaper gas-fired power. Attractive debt financing options are also available for the project.Subject to securing approvals in early 2024, VRX has allowed 6-8 months for plant construction. Initial production in 2025 will be at 1 million tonnes per annum, ramping up over 2 years as customer qualifications and contracts are established. With a global shortage of high-grade silica sand suitable for key manufacturing processes, VRX already has offtake agreements for 200,000 tonnes per annum in place and strong international customer interest.With five 100+ year projects under development, clear expansion upside, and near-term share price catalysts on the horizon, VRX offers investors an opportune entry point for exposure to specialized industrial mineral supply chains with structurally robust demand trends._View VRX Silica's company profile: https://www.cruxinvestor.com/companies/vrx-silicaSign up for Crux Investor: https://cruxinvestor.com

Interview with Trey Wasser, CEO, and Maura Kolb, President of Dryden Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/dryden-gold-pre-ipo-3497-gt-gold-over-85-meters-red-lake-20-4417Recording date: 3rd January 2024Dryden Gold Sets Out to Unlock Exceptional Gold Grades in Ontario's Overlooked Dryden DistrictDryden Gold Corp is focused exclusively on exploring its district-scale Dryden gold project located in northwest Ontario. The company has consolidated over 20 kilometers of strike length covering a major gold-bearing geological formation known as the Dryden shear zone. Despite limited recent exploration, historical drilling has delivered exceptionally high-grade gold mineralization in certain zones.According to CEO Trey Wasser, "we have a very strategic land package in The Dryden Camp" that is seeing renewed interest given the sheer scale of the consolidated land position and evidence that the project could host world-class high grade mineralization similar to the Red Lake gold district.The company has already attracted a roster of renowned mining investors and industry experts like Eric Sprott, Adrian Day, and Robert McEwen to support Dryden's exploration efforts. An initial drill program is already underway while Dryden concurrently listed its shares recently on the TSX Venture exchange under the ticker "DRY".Dryden's exploration is focused on better understanding high grade gold at the historic Gold Rock zone but the company sees potential to significantly expand the broader mineralized system across its 20 kilometer shear zone land position. CEO Wasser notes “we also want to show that this area could get much much bigger” with further systematic exploration.Early geochemical and geological analysis results from initial field work and drilling in late 2022 is expected shortly which could serve as an important catalyst for the stock if gold grades impress. With a strengthened gold market in 2023, the timing is right for drill-ready high grade exploration stories like Dryden to unlock substantial value.Learn more: https://cruxinvestor.com/companies/dryden-goldSign up for Crux Investor: https://cruxinvestor.com