Company Interviews

Interview with Greg Channon, Chief Geoscientist of Elixir Energy Ltd. Our previous interview: https://www.cruxinvestor.com/posts/elixir-energy-asxexr-drilling-for-big-gas-in-australia-3282 Recording date: 19th March 2024 Elixir Energy (ASX:EXR) is poised for major success with its gas play in the Bowen Basin, Queensland, Australia. The company's recent drilling of the Daydream 2 well has revealed exciting results that could significantly increase the project's resource potential and commercial viability. Key highlights from the Daydream 2 well include:A gross interval of 600 meters, with 245 meters of net pay identified.An unexpected permeable sandstone zone between 4,200 and 4,220 meters, which flowed gas without stimulation.The presence of clay coatings on the sandstone grains, preserving porosity and permeability at depth, similar to producing fields in the Perth Basin.Low CO2 content (around 1%) in the gas, reducing the need for costly treatment.Elixir Energy is now embarking on a comprehensive testing program over the next two months to further evaluate the well's potential. The program will target six zones, including the permeable sandstone, tight sandstones, and coals. The tests will provide crucial data on flow rates, reservoir characteristics, and the effectiveness of stimulation techniques. Success in the testing program could be a key de-risking event for the project, demonstrating its commercial viability and potentially leading to a re-rating of the company's shares. Investors should watch for sustained gas flows from the tested zones, which would indicate the project's long-term potential. In addition to the contingent resource estimated in 2022, the Daydream 2 well has also revealed significant absorbed gas content in the coal seams. This could further enhance the project's resource base, with a prospective resource estimate of 3.6 trillion cubic feet of gas across the greater area. With the testing program set to commence and the potential for positive news flow in the coming months, Elixir Energy presents an attractive opportunity for investors looking to gain exposure to a high-impact gas play in a promising region. View Elixir Energy's company profile: https://www.cruxinvestor.com/companies/elixir-energy Sign 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-tsxvaxl-45m-drilling-campaign-to-double-oil-output-4826Recording date: 18th March 2024Arrow Exploration presents a compelling investment opportunity as a high-growth junior oil producer focused on the prolific Llanos Basin of Colombia. With a proven management team, attractive asset base, and fully-funded growth plans, Arrow is poised to deliver strong production growth and shareholder returns in 2024 and beyond.The company's investment thesis is underpinned by its recent exploration success in the Carrizales Norte field Tapir Block where Arrow's 2P reserves has significantly increased from 8 million barrels to approximately 12 million barrels. This provides a solid foundation for future development and production growth.Arrow is currently producing approximately 3,300 barrels of oil per day (bopd) and is targeting significant growth in 2024. With a board-approved capital budget of US$45 million, the company plans to drill a combination of vertical and horizontal wells, which are expected to drive production to 4,000-6,000 bopd by year-end. This represents potential growth of 20-80% compared to 2023 levels.Importantly, Arrow's growth plans are fully funded by operating cash flow at current commodity prices with $13-15 million of cash on the balance sheet. This financial strength is supported by a favorable fiscal regime in Colombia, where Arrow pays just a 12% royalty and no taxes while it continues to reinvest capital.Despite its compelling growth outlook, Arrow's shares currently trade at less than 2x cash flow based on its 2024 projections - a significant discount to junior oil and gas producer peers. As the company delivers on its operational targets and increases market awareness, there is potential for significant valuation upside.View Arrow Exploration's company profile: https://www.cruxinvestor.com/companies/arrow-explorationSign up for Crux Investor: https://cruxinvestor.com

Interview with Segun Lawson, CEO of Thor Explorations Ltd.Our previous interview: https://www.cruxinvestor.com/posts/thor-explorations-lsethx-gold-producers-free-option-on-lithium-portfolio-3904Recording date: 18th March 2024Thor Explorations, a West Africa-focused gold producer, is poised for a pivotal year in 2024 as it looks to capitalize on strong production, significant cash flow generation, and exploration upside. The company is guiding for gold production of 95,000 to 100,000 ounces this year. This production profile is expected to drive robust free cash flow generation, which will be used to strengthening the balance sheet. Thor expects to fully repay its $22 million in debt by the end of 2024, with large debt repayment already at the end of March of $8 million, leaving the company with a clean balance sheet and strong cash flows to fund growth initiatives.A key focus for Thor is extending the mine life at Segilola through exploration drilling. The deposit remains open at depth, providing potential to expand resources and reserves to support a larger open pit operation or a future underground mine. Thor is mobilizing two drill rigs in Q2 to test these deeper targets, with another rig allocated to explore near-mine satellite deposits. The geology of the area is highly prospective and provides meaningful upside to the company's production and cash flow profile.At Thor's Douta Gold Project in Senegal, the company is awaiting the results of a preliminary feasibility study (PFS) that has been delayed due to additional metallurgical testing. However, oxide material has shown strong recoveries and will be the focus of a drill program in Q2 aimed at enhancing the project economics. Once the PFS is delivered, Thor plans to rapidly advance the project to a definitive feasibility study to support a construction decision.The company is also resuming its lithium exploration efforts in Nigeria, with drilling set to commence in Q2 following a comprehensive target generation program. The drill program is expected to generate steady news flow and has the potential to define a significant lithium resource.With a market capitalization of approximately $95 million, Thor trades at its expected free cash flow at current gold prices. This represents a compelling valuation for a growing gold producer with a strong balance sheet and meaningful exploration upside. As the company delivers on its operational and exploration objectives, there is potential for significant re-rating of the stock to better reflect its fundamental value.In conclusion, Thor Explorations offers investors an attractive opportunity to gain exposure to a growing West African gold producer at a deeply discounted valuation. With a robust production profile, significant near-term cash flow, and multiple avenues for growth, the company is well-positioned to create value for shareholders in 2024 and beyond.View Thor Explorations' company profile: https://www.cruxinvestor.com/companies/thor-explorations-ltdSign up for Crux Investor: https://cruxinvestor.com

Interview with Dan Wilton, CEO of First Mining Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/first-mining-gold-tsxff-investment-case-for-top-10-gold-developer-4797Recording date: 15th March 2024First Mining Gold (TSX:FF) offers investors a compelling opportunity to gain exposure to two of the largest undeveloped gold projects in Canada. The company's flagship Springpole project in Ontario hosts 4.6 million ounces of gold reserves and is approaching the final stages of a lengthy permitting process. Meanwhile, the Duparquet project in Quebec provides additional optionality and exploration upside with a 5.3 million ounce resource.First Mining believes the company's projects are scarce, strategic assets that will be increasingly sought after by major gold producers looking to replenish depleted reserves. With several key de-risking milestones on the horizon, Wilton sees potential for a significant re-rating of the company's shares as the underlying asset value is recognized.At Springpole, First Mining is nearing the end of a comprehensive environmental assessment (EA) process that has been underway since 2018. The company plans to submit its final EA report this summer, incorporating feedback from regulators and local indigenous communities. Approval of the EA, which First Mining anticipates by the end of 2025, would mark a major de-risking event for the project.Concurrent with the EA process, First Mining is working to advance a definitive feasibility study on Springpole. The company has already completed over 200,000 meters of drilling on the deposit and believes it is well-positioned to deliver a robust study that will highlight the project's economic potential.At Duparquet, First Mining sees potential for resource growth and a streamlined development path. The project benefits from its location in the Abitibi greenstone belt, a prolific mining district with established infrastructure and several operating mills. First Mining is currently drilling to expand the resource and is evaluating the potential for a smaller-scale, lower capex operation that could leverage existing processing capacity in the region.Underpinning the investment thesis is a view that advanced-stage gold projects in attractive mining jurisdictions are becoming increasingly scarce. Wilton points to the unprecedented build-out of projects in Canada in recent years and the lack of new discoveries to replace them. As major producers face declining reserves and grades, he believes they will increasingly look to acquire or partner on high-quality development assets like Springpole and Duparquet.For investors, First Mining offers a leveraged bet on two strategically located, multi-million ounce gold projects in a tier-one jurisdiction. With a market capitalization of just over $200 million, the company appears to be trading at a significant discount to the underlying value of its assets. As First Mining delivers on key de-risking catalysts in the coming months and years, there is potential for a re-rating of its shares and eventual M&A interest from larger gold producers.View First Mining Gold's company profile: https://www.cruxinvestor.com/companies/first-mining-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Wojtek Wodzicki, President & CEO of NGEx Minerals (TSX-V: NGEX)Our previous interview: https://www.cruxinvestor.com/posts/ngex-minerals-ngex-helados-is-now-low-risk-potro-cliffs-filo2-2675Recording date: 15th March 2024Copper is poised to be a key player in the global shift towards clean energy, and NGEx Minerals (TSX: NGEX) is well-positioned to capitalize on this opportunity. With two high-quality copper projects in the prolific Vicuña district of Chile and Argentina, a strong management team, and a healthy balance sheet, NGEx Minerals offers investors a compelling opportunity to gain exposure to the growing demand for copper.As countries around the world set ambitious targets to reduce greenhouse gas emissions and combat climate change, the demand for copper is expected to soar. Renewable energy technologies such as wind and solar require significantly more copper compared to traditional energy systems. The rapid adoption of electric vehicles (EVs) is also driving copper demand, as EVs use up to four times more copper than conventional internal combustion engine vehicles.Wojtek Wodzicki, CEO of NGEx Minerals, highlights the potential supply gap: "Copper is definitely going to be one of the assets that we need over the next couple of years. Argentina's got some great projects that will be unlocked with some of the changes that he's proposing. We're very optimistic about Argentina."NGEx Minerals' portfolio includes two main projects: Lunahuasi and Los Helados. Lunahuasi is a new high-grade copper discovery still in the early stages, with potential for significant value creation as the resource is defined. Los Helados is a more advanced copper-gold-silver deposit with a large resource, providing additional value to the company.The company's management team has a track record of successful exploration and value creation through spin-outs in the Vicuña district. This experience and expertise position NGEx Minerals to maximize shareholder value as they advance their projects.As of December 31, 2023, NGEx Minerals had approximately $70 million in cash, providing ample resources for exploration and development. This strong financial position allows the company to aggressively pursue its exploration plans and create value for shareholders.Wodzicki emphasizes the value creation potential in copper exploration: "The inflection point in that curve is really right after you make your initial discovery and... a lot of the value, not just for exploration companies, but really if you look at the overall mining industry, that is where a lot of the value is created, is between that initial discovery hole and when you define the resource and start working on your engineering study."NGEx Minerals offers investors a compelling opportunity to gain exposure to the growing demand for copper driven by the green energy transition. With high-quality assets, an experienced management team, and a strong balance sheet, the company is well-positioned to create value for shareholders as they advance their projects.—Learn more: https://cruxinvestor.com/companies/ngex-mineralsSign up for Crux Investor: https://cruxinvestor.com

Interview with Gabriel Marcelo Rubacha. Director & CEO of NOA Lithium Brines Inc.Our previous interview: https://www.cruxinvestor.com/posts/noa-lithium-tsxvnoa-focused-on-fast-tracking-3-argentina-projects-4484Recording date: 6th March 2024NOA Lithium Brines is a compelling speculative investment opportunity for investors seeking exposure to the rapidly growing lithium market. The company's flagship Rio Grande project is located in the renowned Lithium Triangle of Argentina, Chile, and Bolivia, which holds over half of the world's lithium resources.Argentina is quickly emerging as a top jurisdiction for lithium development, with a favorable policy environment and strong government support. NOA Lithium Brines is well-positioned to capitalize on this opportunity, with its lithium brine project in the Salta province, a key lithium hot spot.The company has made rapid progress since its IPO just a year ago, delivering a maiden resource of 2.3 million tonnes of lithium carbonate equivalent (LCE). Notably, this resource estimate covers only 12% of the company's properties, highlighting the immense exploration upside. NOA plans to aggressively expand the resource in 2024 through a major drilling campaign, targeting a doubling of the current resource base.As NOA advances the Rio Grande project, it has the flexibility to pursue either traditional evaporation ponds or direct lithium extraction (DLE) technology, given the attractive lithium concentrations in its brines. The company is also proactively securing a sustainable water supply by identifying sources within its own properties.Looking ahead, NOA is targeting several key milestones in 2024 that could drive a re-rating of the stock. These include significant resource growth from drilling, progress on lithium process engineering, and confirmation of water sources. Drill results will be a key news flow item to watch in the coming months.The investment thesis for NOA Lithium Brines rests on its exposure to the high-growth lithium market, prospective Argentinian brine assets, substantial exploration upside, flexibility in processing options, and potential for near-term catalysts. While the lithium market's volatility and the company's early-stage nature present risks, the current valuation offers an attractive entry point with significant upside potential.In conclusion, for investors looking for a speculative play on the lithium market's growth, NOA Lithium Brines presents a timely opportunity. The company's prospective asset base, resource expansion potential, and upcoming catalysts make it a lithium developer to watch. While not without risks, the stock's current valuation arguably reflects limited credit for the company's progress to date and future growth potential.View NOA Lithium's company profile: https://www.cruxinvestor.com/companies/noa-lithiumSign up for Crux Investor: https://cruxinvestor.com

Interview with Ben Pullinger, Senior VP Exploration of ATEX Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/atex-resources-tsxvatx-drilling-the-next-major-copper-discovery-in-chile-4161Recording date: 15th March 2024ATEX Resources (TSXV:ATX) is a Canadian exploration company focused on advancing the Valeriano copper-gold project in Chile. With a large, high-grade resource already delineated and recent drilling pointing to significant expansion potential, Valeriano is emerging as one of the most exciting new copper discoveries in recent years.The project boasts a resource of 1.4 billion pounds of copper at an average grade of 0.7%, including a higher-grade core, positioning it as one of the largest and highest-grade undeveloped copper projects globally. Importantly, recent drilling has intersected a continuous zone of high-grade "early porphyry" mineralization, demonstrating potential to substantially grow the resource.ATEX has already completed over 30,000m of drilling at Valeriano and is currently executing a fully funded 15,000-20,000m follow-up program aimed at expanding the resource and advancing the project to a Preliminary Economic Assessment (PEA). The company is targeting a multi-billion tonne resource with a higher-grade underground component, pointing to robust economics.Valeriano is situated in a well-established mining district in central Chile, benefitting from excellent access and infrastructure. The project is located adjacent to several major copper mines and development projects, highlighting the potential for consolidated infrastructure and operational synergies.ATEX is led by an experienced management team with a track record of exploration success and value creation. The company is well-funded, with approximately C$10M in cash and a strategic partnership with Glencore, providing access to additional capital and technical expertise as the project advances.The company's timing appears ideal, with the copper market projected to face a severe supply deficit over the coming decade. Copper demand growth is poised to accelerate, driven by the global energy transition and electrification, while a lack of new mine development threatens to constrain supply. As a result, copper prices are forecast to exceed $5/lb, more than double the incentive price required for most new projects.In this context, ATEX offers a compelling investment opportunity - exposure to a rare, Tier 1 copper development project in a top jurisdiction, substantially de-risked and poised for significant near-term growth. With a market capitalization of just C$70M, the company's valuation does not yet reflect the scale and quality of the asset.As ATEX continues to deliver drilling results and advance the project over the coming months, the company appears well-positioned for a re-rating towards the valuations of more advanced development peers. Longer-term, the Valeriano project will likely require additional capital and technical expertise to develop, positioning the company as a highly strategic acquisition target.The main risks to the investment thesis include volatility in commodity prices, operational challenges in an isolated and high-altitude setting, and potential delays or increased costs in permitting and development. However, these risks appear well-managed and are more than offset by the project's compelling upside potential.In summary, ATEX Resources offers investors a unique opportunity to gain exposure to a world-class copper discovery in a top mining jurisdiction. With a large, high-grade resource, exceptional exploration upside, and a favorable macro backdrop, the company is well-positioned to create significant value as it advances the Valeriano project. For investors seeking exposure to the copper sector and the energy transition theme, ATEX warrants a closer look.—Learn more: https://cruxinvestor.com/companies/atex-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Pierre Léveillé, President & CEO of Koryx Copper Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/koryx-copper-resources-tsxvkry-rediscovering-african-copper-giant-4522Recording date: 14th March 2024Koryx Copper (TSXV:KRY), a junior explorer focused on Namibia and Zambia, is steadily advancing its flagship Haib Copper Project. With a large resource already defined and a Preliminary Economic Assessment (PEA) demonstrating robust economics, Koryx offers investors an attractive opportunity to gain exposure to the compelling copper market fundamentals.The Haib Copper deposit hosts an impressive 850 million tonne resource grading 0.31% copper. The PEA, based on a $3.50/lb copper price, outlines an after-tax NPV of $1.3 billion and IRR of 36%. Koryx is now working to further enhance the project's economics through targeted drilling.By drilling angled holes to target higher-grade vertical structures, Koryx has returned numerous intercepts well above the PEA cut-off grade of 0.25% copper. Highlights include over 200m @ 0.49% Cu with 94 metres at 0.61% Cu, and 20 metres at 0.76% CuEq including 4m @ 2.37% CuEq. An updated resource estimate incorporating this drilling is expected by mid-2023, followed by a revised PEA.Koryx is taking a disciplined approach to advancing Haib Copper Project, with plans for modest drill programs funded by periodic capital raises. The company is already engaging with major miners and private equity groups interested in partnering to eventually build out the project.Exploration is also progressing at Koryx's earlier-stage projects in Zambia. The Luanshya West Project, where initial work identified numerous copper-cobalt anomalies, will see 2,000m of drilling in late 2024 to test new targets defined by a recent IP survey.Both Namibia and Zambia are well-established mining jurisdictions, and the industry's biggest players are actively seeking new copper projects in the region. Haib's large size and scalability make it a highly attractive potential addition to the project pipelines of major miners facing a dearth of new copper supply.With an experienced management team, a disciplined approach to growth, and multiple value drivers on the horizon, Koryx is well-positioned to create value for shareholders. The company's modest ~C$20 million market cap provides ample room for upside as the copper narrative gains momentum.In summary, Koryx Copper presents a compelling opportunity for investors to gain exposure to the increasingly bullish copper market. With a large, advanced-stage asset being systematically de-risked and a pipeline of earlier-stage growth projects, Koryx offers multiple avenues to value creation. The company is expected to deliver steady news flow over the coming 12+ months as it advances Haib towards development and progresses exploration in Zambia.View Koryx Copper's company profile: https://www.cruxinvestor.com/companies/koryx-copperSign up for Crux Investor: https://cruxinvestor.com

Interview with Jon Bey, CEO of Standard Uranium Ltd.Our previous interview: https://www.cruxinvestor.com/posts/standard-uranium-tsxvstnd-new-prospect-generator-model-in-the-athabasca-basin-4969Recording date: 14th March 2024Standard Uranium (TSXV:STND) is a Canadian junior uranium exploration company that offers investors a unique opportunity to gain exposure to the growing uranium market. With a portfolio of 11 projects in the Athabasca Basin of Saskatchewan, one of the world's most prolific uranium mining regions, Standard Uranium is well-positioned to capitalize on the increasing global demand for clean energy.The company's business model is built around a project generator approach, which allows it to advance multiple projects simultaneously without diluting shareholders. Standard Uranium has secured $31 million in funding commitments from joint venture partners, which will fund exploration on five of its projects over the next three years. This approach provides a steady stream of news flow and value creation potential, while minimizing risk for investors.Standard Uranium's flagship project is the 100%-owned Davidson River project, located just 25 kilometers east of NextGen Energy's Arrow Deposit, which is expected to be one of the world's largest uranium mines. The Davidson River project has the potential to host a similar high-grade uranium deposit, and the company plans to fund exploration through traditional capital raises.One of Standard Uranium's key strengths is its experienced technical team, led by Sean Hilliker. The company's geologists have extensive experience exploring for uranium in the Athabasca Basin, and are constantly refining their techniques with each drill program. This expertise is particularly valuable in a region where uranium exploration is notoriously challenging.Standard Uranium has also established strong partnerships with First Nations groups in the regions where it operates. These partnerships provide a framework for consultation and benefit-sharing as the company advances its projects, and are critical for securing social license in the Athabasca Basin.The outlook for the uranium market is highly positive, with increasing global demand for clean energy expected to drive prices higher in the coming years. As countries around the world seek to reduce their carbon emissions and combat climate change, nuclear power is emerging as a key component of the energy mix. However, the supply of uranium is limited, with few new mines coming online in recent years. This has led to a growing supply deficit, which is expected to persist as demand continues to rise.Standard Uranium is well-positioned to benefit from this trend, with a portfolio of high-quality projects in one of the world's most prospective uranium mining regions. The company's project generator model allows it to advance multiple projects simultaneously, while minimizing dilution for shareholders. With a strong technical team, established partnerships with First Nations groups, and a compelling investment thesis, Standard Uranium presents a unique opportunity for investors seeking exposure to the growing uranium market.In conclusion, Standard Uranium offers investors a compelling opportunity to gain exposure to the growing uranium market through a company with a proven track record of success. With a portfolio of high-quality projects, a strong technical team, and a unique business model that minimizes risk and dilution for shareholders, Standard Uranium is well-positioned to create significant value for investors in the coming years. As the global demand for clean energy continues to grow, Standard Uranium is poised to play a key role in the future of the uranium market.—View Standard Uranium's company profile: https://www.cruxinvestor.com/companies/standard-uraniumSign up for Crux Investor: https://cruxinvestor.com

Recording date: 14th March 2024Picture a gold rush, except the treasure is not just in gold, but also in uranium and copper. That's the opportunity on the horizon for mining investors, according to industry veterans Merlin and Matt, who shared their insights from the 2024 PDAC mining conference.While the overall mood at PDAC was undeniably more subdued than the peaks of recent years, with many mining companies trading at depressed valuations, the pair see this as a golden opportunity for investors who can spot the hidden gems. As Merlin colorfully put it, many companies have hit "rock bottom," meaning the only direction from here is up.So what will light the spark for mining stocks to soar again? Merlin and Matt point to the strong supply-demand fundamentals for key commodities like uranium, gold, and copper. The uranium price has already shot up from $30/lb to over $100/lb in the last year, proving that the market rewards structural supply deficits. Gold, too, has shown its lustre, spiking $150/oz during PDAC as investors seek a safe haven from currency devaluation.But perhaps the most electrifying opportunity lies in copper. With the global energy transition in full swing, copper demand is surging for electric vehicles and renewable energy infrastructure. At the same time, supplies are constrained, setting the stage for a price breakthrough. As Merlin explained, "You've got this kind of new sources of demand, which is kind of an additional 20% on that demand load, and you've got that structural supply constraint...copper is probably next."Of course, not all mining companies will be winners in this new bull market. Merlin and Matt stress that investors need to focus on a few key attributes: high-grade deposits that can be mined economically, experienced management teams with a track record of execution, and smart marketing strategies that communicate the company's story efficiently.Some of the specific companies that caught their eye at PDAC include G2 Goldfields and Omai Gold Mines for their impressive gold projects and leadership, Collective Mining as a promising newer gold explorer, Erdene Resource Development for its strategic joint venture in Mongolia, and Energy Fuels for its well-positioned uranium assets.While every investment carries risk, the pair argue that the potential rewards in mining stocks are worth it for investors who do their homework. "If you can take a copper asset and it's good, then it's going to be valuable," Merlin noted. "It makes me think about market efficiency - if it's good, it's expensive, if it's not good, it's cheap." The key is having the knowledge to tell the difference.So could 2024 be the year of the new mining rush? The insights from Merlin and Matt suggest that the treasure map is there for investors ready to seize the opportunity. With the right strategy and a keen eye for quality, the beaten-down mining sector could be hiding some of the stock market's biggest future winners. After all, from a rock bottom foundation, there's nowhere to build but up.—Learn more: https://cruxinvestor.comSign up for Crux Investor: https://cruxinvestor.com

Interview with Dale Verran, CEO of Fortune Bay Corp.Our previous interview: https://www.cruxinvestor.com/posts/fortune-bay-for-trading-at-a-discount-to-strong-goldfields-pea-numbers-2890Recording date: 12th March 2024Fortune Bay Corp (TSXV:FOR) presents a compelling investment opportunity for those seeking exposure to gold and uranium, two commodities with increasingly bullish fundamentals. With a market capitalization of C$10 million, the company appears significantly undervalued relative to the value of its assets and the potential for near-term catalysts.Fortune Bay's key gold asset is the Goldfields gold project in Saskatchewan which hosts a robust 1.2 million ounce Indicated resource, and where 2022 Preliminary Economic Assessment (PEA) outlined an after-tax NPV5% of C$285 million and IRR of 35% for the project. The Goldfields project benefits from extensive historical data, existing permits, simple metallurgy, and good infrastructure, allowing for potential fast-tracking. The company is actively seeking a strategic partner to advance Goldfields and help unlock its value.The Ixhuatán gold-copper project in Mexico provides additional upside, with a 1.7 million ounce open-pittable gold resource and a large underexplored copper porphyry system. Fortune Bay is looking to secure community agreements and the right partnerships to move this project forward.On the uranium front, Fortune Bay has assembled an attractive portfolio of seven projects covering in the world-class Athabasca Basin. The most advanced projects, Strike and Murmac, are under an option agreement with Aero Energy Limited which will be funding C$6 million in exploration expenditures. Fortune Bay will retain a 30% carried interest, providing significant discovery potential with limited downside risk.The company's other five uranium projects, acquired at low cost through staking, offer further exploration upside and the potential for additional partnerships. Discussions are underway with multiple groups.Fortune Bay's strategy focuses on advancing its assets through joint ventures and partnerships, minimizing dilution while maintaining upside exposure. This approach appears well-suited to the current market environment for junior explorers.With a strong portfolio of gold and uranium assets, a pipeline of catalysts, and a modest valuation, Fortune Bay stands out as an attractive investment opportunity. In a market increasingly focused on gold and uranium exposure, Fortune Bay's combination of significant defined resources, exploration upside, and attractive valuation makes it a compelling investment opportunity. With multiple shots on goal across its portfolio and a clear path to value creation, the company appears poised for a re-rating as it delivers on its milestones.View Fortune Bay's company profile: https://www.cruxinvestor.com/companies/fortune-bay-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Jorge Ramiro Monroy, CEO of Reyna Silver (TSX-V:RSLV)Our previous interview: https://www.cruxinvestor.com/posts/reyna-silver-tsxvrslv-prudent-management-and-exploration-in-progress-3902Recording date: 2nd March 2024Reyna Silver Corp (TSXV:RSLV) is a silver-focused exploration company advancing a portfolio of high-potential projects in the prolific mining jurisdictions of Nevada, USA and Mexico. The company is led by a highly experienced management team with a track record of major discoveries, including Dr. Peter Megaw, a world-renowned expert in carbonate replacement deposits (CRDs) who serves as Reyna's Chief Technical Advisor.Reyna Silver recently closed a $4.6 million CAD financing to fund aggressive exploration across its project portfolio, with a near-term focus on drilling the advanced-stage Griffin CRD project in Nevada. Griffin, which was acquired in November 2022, hosts an extensive historical database of 12,000 meters of drilling, 4,000 surface samples, and multiple geophysical surveys. However, this data was generated by previous operators primarily focused on exploring for Carlin-type gold mineralization. Reyna's technical team recognized the potential for a significant CRD system and will be the first to systematically explore the project from this perspective.CEO Jorge Ramiro Monroy explained in a recent interview, "The core that we're going to look at has pretty much never been looked at with the eyes of CRDs. And you know, it has very specific characteristics." The company plans to relog the historic drill core and integrate the extensive data to refine high-priority drill targets in areas of known mineralization. This work will culminate in a substantial drill program later this year, with the goal of rapidly advancing Griffin towards a maiden resource estimate.In addition to Griffin, Reyna Silver has a portfolio of earlier-stage but highly prospective silver projects in Mexico. These projects, including Guigui and Batopilas, were acquired from MAG Silver as part of a 2019 deal that saw Dr. Peter Megaw join Reyna's technical team. Mexico is a world-class jurisdiction for silver exploration and production, and Reyna's projects are located in historic mining districts with significant upside potential.However, recent uncertainty surrounding proposed changes to Mexico's mining law has impacted foreign investment and led some companies to focus their exploration efforts elsewhere in the near-term. Reyna Silver is taking a pragmatic approach in response to this uncertainty. The company is maintaining its Mexican property portfolio and continuing low-cost exploration activities but has elected to defer drilling until after the upcoming presidential election in July and the swearing-in of the new government in December.Despite the challenging market conditions for silver over the past two years, the fundamentals for the metal remain compelling. The appetite for silver among investors remains strong, but a lack of high-quality exploration and development projects in the pipeline has created the potential for a significant supply shortage in the coming years. As CEO Jorge Ramiro Monroy noted, "If you look at the last four or five years, the big silver companies - Pan American Silver, First Majestic - they didn't go and buy silver projects. They used their silver premium, looked around and said, 'There's no silver projects.' So there is certainly a need to make new silver discoveries."With a strong treasury, experienced management team, and portfolio of drill-ready exploration projects in world-class mining jurisdictions, Reyna Silver Corp represents a compelling opportunity for investors looking for exposure to silver discovery potential. The company's near-term focus on drilling the advanced-stage Griffin CRD project in Nevada provides the potential for a major new discovery in a politically stable jurisdiction, while the earlier-stage Mexican portfolio offers investors additional upside optionality. With a tight share structure, strong institutional support, and an attractive valuation compared to its peer group, Reyna Silver is well-positioned for success in the coming year.—Learn more: https://cruxinvestor.com/companies/reyna-silverSign up for Crux Investor: https://cruxinvestor.com

Interview with Kyle Floyd, CEO of Vox Royalty Corp.Our previous interview: https://www.cruxinvestor.com/posts/vox-royalty-tsxvoxr-leveraging-royalty-revenues-returns-and-database-assets-for-creative-growth-4399Recording date: 11th March 2024Vox Royalty Corp (TSX:VOXR) presents a compelling opportunity for investors seeking exposure to a diversified portfolio of mining royalties. With a focus on acquiring royalties on advanced-stage projects at attractive valuations, Vox has assembled a portfolio of around 70 royalties globally, including six currently producing assets.The company's 2023 results showcase the cash flow-generating potential of this portfolio. Vox reported revenue growth of nearly 45% and a 157% increase in operating cash flow year-over-year. This enabled the company to raise its dividend by over 9%, resulting in a sector-leading yield of 2.4%.Vox's strategy centers on a disciplined, value-driven approach to royalty acquisitions. The company targets royalties on projects within 1-3 years of production, with a focus on quality assets and experienced operators. This has led to a portfolio weighted towards Australia, which Vox views as a top mining jurisdiction, and includes partnerships with major names like Zijin Mining and Mineral Resources.A key competitive advantage is Vox's proprietary database of royalties, which allows it to quickly identify and evaluate opportunities. While the company is agnostic to commodity, this approach has resulted in a portfolio that is predominantly gold-focused, as that is where Vox has found the most attractive risk-adjusted returns.Looking ahead, Vox is guiding for revenue of $11-13 million in 2024, in line with its 2023 results. Several of Vox's development assets are expected to begin producing in 2025 and 2026, which could drive significant cash flow growth.To support this growth, Vox has secured up to $25 million revolving credit facility. This enhances the company's ability to act on opportunities and scale its portfolio in line with its historical growth trajectory. Combined with Vox's value-driven approach and focus on near-term producers, this positions the company well to continue delivering strong returns for shareholders.The macro-environment for mining royalty companies is favorable despite broader market challenges. Volatile commodity prices and constrained capital markets have created a funding gap for many operators and developers. This allows companies like Vox to acquire royalties at attractive valuations, generating strong returns on invested capital.In summary, Vox Royalty offers investors a differentiated approach to precious metals and mining exposure. With a diversified, cash-flowing portfolio and a pipeline of near-term growth assets, the company is well-positioned to create value through disciplined capital allocation. For investors seeking yield and long-term growth potential in the royalty space, Vox is a name to watch.View Vox Royalty's company profile: https://www.cruxinvestor.com/companies/vox-royaltySign up for Crux Investor: https://cruxinvestor.com

Interview with Ben Turney, CEO of Kavango Resources PLCOur previous interview: https://www.cruxinvestor.com/posts/kavango-resources-lsekav-new-funding-copper-in-botswana-gold-in-zimbabwe-4088Recording date: 11th March 2024Kavango Resources, a metals exploration company focusing on gold in Zimbabwe and copper in Botswana, presents a compelling investment opportunity for those seeking exposure to the untapped mineral wealth of southern Africa.One of Kavango's key strengths is the significant investment from the Consagra family, a successful pan-African conglomerate with interests in mining, oil and gas industries. The Kansagra family's 52% stake in the company provides Kavango with the financial resources to pursue its exploration objectives and demonstrates their confidence in the management team and projects.In Zimbabwe, Kavango is targeting bulk minable open-pit gold deposits, with a particular focus on its Nara and Hillside projects. The company aims to discover million-ounce resources at each of these projects, leveraging extensive historical data collected over 15 years in the Matabeleland gold fields of southern Zimbabwe, which will help guide Kavango in efficiently targeting prospective areas for drilling.In addition to its gold exploration efforts, Kavango is also actively exploring for copper in the Kalahari Copper Belt of Botswana. The company has identified two potential copper mineralizing systems that it intends to test. A significant copper discovery in this region could serve as a major catalyst for Kavango's share price, given the growing global demand for copper driven by the transition to clean energy and electrification.To support its exploration efforts, Kavango has also recognized the opportunity for near-term revenue generation through small-scale mining contracts in Zimbabwe. By securing these contracts and modernizing existing mining operations, the company aims to establish a profitable mining business that can provide a steady revenue stream.Investors considering Kavango Resources should monitor the company's progress in securing and developing small-scale mining contracts, as well as its exploration results from the Nara and Hillside projects in Zimbabwe and the Kalahari Copper Belt in Botswana. Significant discoveries in either gold or copper could lead to a re-rating of the company's shares and unlock substantial value for shareholders.In conclusion, Kavango Resources offers investors a unique opportunity to gain exposure to the mineral potential of southern Africa, backed by strong financial support, an experienced management team, and a focused exploration strategy targeting both gold and copper. With the potential for near-term revenue generation and the possibility of major discoveries, Kavango Resources is an exploration company worth considering for investors looking to diversify their portfolio with exposure to the African mining sector.View Kavango Resources' company profile: https://www.cruxinvestor.com/companies/kavango-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Simon Clarke, CEO & Director of American Lithium Corp.Our previous interview: https://www.cruxinvestor.com/posts/american-lithium-tsxvli-advancing-peru-assets-as-global-demand-heats-up-4816Recording date: 6th March 2024American Lithium is an emerging lithium exploration and development company with a robust portfolio of high-quality assets in the Americas. The company's primary focus is on advancing its two flagship lithium projects: the TLC lithium claystone project in Nevada and the Falchani hard rock lithium project in Peru. With a strong management team, conventional mining and processing strategies, and exposure to the booming lithium market, American Lithium represents a compelling investment opportunity.The global lithium market is experiencing unprecedented growth, driven by the rapid adoption of electric vehicles and the increasing demand for energy storage solutions. Despite recent volatility in lithium prices, the long-term fundamentals remain exceptionally strong. Experts predict that lithium demand will grow at a CAGR of over 20% through 2030, requiring a significant increase in global supply. American Lithium is well-positioned to capitalize on this growing demand with its advanced-stage projects and strategic investments.At the TLC project in Nevada, American Lithium is focused on developing a large-scale sedimentary lithium deposit using conventional processing methods. The company is working to optimize its flowsheet, aiming to reduce acid consumption and incorporate by-product credits such as potassium sulfate and cesium. The TLC project benefits from its location in a mining-friendly jurisdiction with access to key infrastructure and talent.In Peru, American Lithium is advancing the Falchani hard rock lithium project, which boasts an impressive resource and favorable economics. A recently updated Preliminary Economic Assessment (PEA) demonstrates strong project potential, with after-tax NPV8 of $5.11 billion at $22,500/t LCE. The company plans to complete a Pre-Feasibility Study (PFS) for Falchani in 2024 while conducting pilot plant testing. With its Environmental Impact Assessment already filed, American Lithium is well on its way to potentially making a construction decision by the end of 2024.American Lithium's management team has a proven track record of advancing projects and creating shareholder value. Investors in American Lithium can also gain exposure to the uranium market through the company's Macusani uranium project in Peru. Although the company delayed its planned spin-out of the asset due to unfavorable market conditions, the updated PEA highlights the project's potential as a long-life, low-cost uranium mine. As market sentiment improves, American Lithium plans to seek a separate listing for the uranium asset, unlocking additional value for shareholders.As the company continues to achieve key milestones and advance its projects through the development pipeline, there is substantial potential for share price appreciation. For investors seeking exposure to the high-growth lithium market, American Lithium presents a unique opportunity to invest in a company with world-class assets, a focused strategy, and a compelling valuation.View American Lithium's company profile: https://www.cruxinvestor.com/companies/american-lithiumSign up for Crux Investor: https://cruxinvestor.com

Interview with Jamie Levy, President & CEO of Generation Mining Ltd.Our previous interview: https://www.cruxinvestor.com/posts/generation-mining-tsxgenm-marathon-palladium-project-fast-tracked-to-production-3906Recording date: 6th March 2024Generation Mining (TSX:GENM) is steadily advancing its Marathon Palladium-Copper project in Northwestern Ontario towards production. The company recently achieved a major milestone with the receipt of its environmental assessment approval in November 2022. It is now in the final permitting stages, anticipating receipt of all necessary construction permits by summer 2024.The Marathon project benefits from an enviable location and infrastructure, situated along the Trans-Canada Highway with access to rail, roads, and low-cost renewable hydroelectric power. Importantly, Generation has secured strong social license and support from local First Nations groups and the municipality of Marathon.While the recent rise in copper and palladium prices is encouraging, Levy acknowledged that generalist investor sentiment towards mining equities remains muted. However, he sees this changing as copper prices reach incentive levels of $4.25-$4.50/lb needed to stimulate new production. Palladium also has a bullish outlook, with a large short position to be covered and ongoing supply disruptions.For investors, Generation offers direct exposure to two future-facing "green" metals - copper and palladium - that are poised to benefit from the global energy transition. The company is significantly derisked and attractively valued compared to producing miners. With permits on track, a seasoned team, and a world-class jurisdiction, Generation is well-positioned to unlock value as it advances Marathon toward production in a tightening market.Key upcoming catalysts include the anticipated receipt of construction permits by summer 2024, completion of a feasibility study, and securing a comprehensive project financing package. Rising copper and palladium prices will further derisk the funding and construction of the Marathon project.As CEO Jamie Levy noted, the smart money appears to be positioning for a turn in the mining cycle, even if generalist funds are not yet fully engaged. Generation Mining presents a differentiated opportunity to gain exposure to a robust copper-palladium project in a top-tier jurisdiction as metals markets tighten over the coming years. With key permits on the horizon and a proven management team, Generation is one to watch.View Generation Mining's company profile: https://www.cruxinvestor.com/companies/generation-miningSign up for Crux Investor: https://cruxinvestor.com

Interview with Jean-Paul Tsotsos, Interim CEO of Chesapeake Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/chesapeake-gold-tsxvckg-breakthrough-tech-new-gold-discovery-4534Recording date: 29th February 2024Chesapeake Gold is advancing two major precious metals assets that position the company with significant leverage to rising gold and silver markets.The flagship Metates project in Durango, Mexico contains a world-class resource of over 19 million ounces of gold and 500 million ounces of silver. A 2021 preliminary economic assessment outlined plans for a large-scale, low-cost open pit operation producing 350,000 ounces of gold and 16 million ounces of silver per year over a 27-year mine life.Meanwhile, the high-grade Lucy gold project in British Columbia provides near-term exploration upside and potential cash flow. Recent drilling returned intercepts up to 6.19 g/t gold over 24 meters starting from surface. Metallurgical tests achieved excellent 95% cyanide leach recoveries, indicating amenability to simple heap leach processing.In January 2024, Chesapeake was added to the NASDAQ Global Silver Miners Index, reflecting Metates’ status as one of the largest undeveloped silver deposits globally. Index inclusion significantly expands Chesapeake’s investor base.With inflation persisting and central banks adopting a less hawkish policy tilt, conditions appear increasingly positive for precious metals following a muted 2022 performance. Chesapeake offers exceptional leverage with two advanced-stage projects in top mining jurisdictions.View Chesapeake Gold's company profile: https://www.cruxinvestor.com/companies/chesapeake-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Jeffrey R. Wilson, President & CEO of Precipitate Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/precipitate-gold-prg-jv-with-barrick-advances-newfoundland-assays-soon-2919Recording date: 3rd March 2024Precipitate Gold Corp (TSX:PRG) is a compelling speculative gold exploration company offering investors multiple shots on goal in the mining-friendly Dominican Republic. The company's flagship Pueblo Grande project is located adjacent to Barrick Gold's world-class Pueblo Viejo mine. Precipitate Gold holds an agreement with Barrick with a right to earn a 70% interest by spending US$10 million on exploration and delivering a pre-feasibility study by 2026. To date, Barrick has spent US$5 million and is seeing encouraging signs of the targeted high sulphidation epithermal gold systems.PRG monetized non-core Pueblo Grande claims to Barrick in 2020 for US$5 million, providing a cash cushion to weather the current challenging market. This non-dilutive capital also allows PRG to fund explorations on new projects.PRG is actively seeking a new gold or copper acquisition, leveraging an extensive network to source off-market opportunities. The company is nimble enough to explore a new project itself, while maintaining discipline around deal terms to minimize dilution. Although a new deal has proven elusive, PRG's cash and Pueblo Grande upside provide a foundation to patiently await the right opportunity.The Dominican Republic remains one of the most prospective jurisdictions for gold exploration. The government recognizes mining's importance to the economy and is supporting the industry's growth. Pueblo Viejo alone accounts for 20% of national exports, with Barrick seeing significant resource upside.Overall, PRG offers a unique combination of a strategic joint venture with a major producer, a cash war chest to fund exploration, and exposure to a mining-friendly jurisdiction seeing increasing activity. Near-term catalysts include exploration results from Barrick, the potential acquisition of a new project, and the resolution of permitting challenges in the Dominican Republic that could reignite interest in the region.Precipitate Gold provides a compelling speculative investment opportunity with multiple avenues to a re-rating. The company's strong financial position, strategic partnerships, and asset base in a sought-after jurisdiction make it an intriguing pick for risk-tolerant investors.View Precipitate Gold's company profile: https://www.cruxinvestor.com/companies/precipitate-gold-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Maura Kolb, President, and Anna Hicken, VP Exploration of Dryden Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/dryden-gold-tsxvdry-high-grade-gold-results-unlocking-district-4917Recording date: 4th March 2024Dryden Gold (TSXV:DRY) is a gold exploration company focused on discovering a significant high-grade gold deposit in the historic Dryden mining district of northwestern Ontario, Canada. The company has consolidated a strategic 600 sq km land position along the Manitou-Dinorwic deformation zone.Dryden's experienced management and technical team unlock the potential of the underexplored gold district. Their geological model targets high-grade gold mineralization in plunging ore shoots at the intersection of the main shear zone with cross-cutting secondary structures.The company recently completed a winter drill campaign, which successfully extended the mineralized footprint along strike and down-plunge. Assay results are pending and will be released in the coming weeks. In addition, Dryden is actively exploring and generating new targets across its wider land package. Systematic geophysics, geochemistry and prospecting are being employed to define and prioritize drill targets for first-pass testing.Dryden benefits from excellent infrastructure, with direct highway access and nearby mining services. This translates into low-cost, year-round exploration with a minimal environmental footprint. The project is located near the town of Dryden, Ontario, which has a long history of natural resource development. The company maintains strong community relations and is actively engaging with local stakeholders.Dryden is well-funded to advance its exploration plans, having raised $6 million in the last six months through private placements and a go-public transaction. Insiders and institutional investors own over 30% of the company, ensuring strong alignment with shareholders.The market opportunity for new gold discoveries in safe, mining-friendly jurisdictions like Canada is robust. Strong gold prices are driving increased investor interest and capital inflows into the junior gold sector. This is particularly true for companies like Dryden that can demonstrate exploration success and a path to defining a significant gold resource.Dryden Gold represents a compelling investment opportunity in an emerging high-grade gold camp. The company has assembled a district-scale land position, validated a robust geological model, and delivered encouraging drill results. With ongoing drilling and a pipeline of priority targets, Dryden is well-positioned for discovery success and value creation. The company's strong management team, tight share structure, and quality institutional shareholders provide a solid foundation for growth in a rising gold market.View Dryden Gold's company profile: https://www.cruxinvestor.com/companies/dryden-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Ari Sussman, Executive Chairman of Collective Mining Ltd.Our previous interview: https://www.cruxinvestor.com/posts/collective-mining-tsxvcnl-hitting-high-grade-gold-copper-4482Recording date: 5th March 2024Collective Mining (TSXV:CNL) presents a compelling opportunity for investors to gain exposure to the discovery and development of a potentially major new gold-copper camp in Colombia. The company is advancing the Guayabales project where grassroots discoveries named Apollo and Olympus are evolving, and drilling new targets Trap, X & Tower, and Plutus.Drill results to date have been promising, with long intercepts of high-grade mineralization being returned from the discoveries over a 4.5 km trend that remains largely untested. At Olympus, the scale and grade of the mineralization point to the potential for a multi-million-ounce deposit in the making.Collective Mining is well-funded to aggressively unlock this potential after recently closing an upsized $18.9M financing with a strategic investor. These funds will be deployed into a 40,000-metre drill program in 2024, designed to demonstrate the scale of the porphyry system and identify the best locations for future infrastructure. The company is taking a district-scale approach before honing in on delineating a maiden resource estimate.The company also places a strong emphasis on sustainability and working proactively with local communities. Through partnerships with government agencies, Collective Mining has helped to train and graduate 280 women in various industries to foster a more diversified local economy. This approach not only de-risks the project from an ESG perspective but helps to lay the groundwork for obtaining the social license for future development.The company is now at an inflection point with the closing of the recent financing and commencement of the large-scale drill program. Investors can look forward to a steady flow of news and catalysts as drilling advances the three known discoveries and tests new high-priority targets. The strong treasury and backing of key shareholders allows Collective Mining to deliver on its plans without needing to return to market in the near-term.In conclusion, Collective Mining offers investors a unique opportunity to participate in the creation of value through exploration success. The combination of a well-funded aggressive drill program, prospective land package, experienced and aligned management team, and sustainability focus all point to the potential for the company to delineate a significant gold-copper deposit. Despite the challenging market conditions for junior explorers, Collective Mining has been able to attract capital and deliver results, which bodes well for the company's ability to execute its plans and create value for shareholders. With a modest market capitalization relative to the potential scale of the discovery at hand, Collective Mining is an attractive speculative investment for investors looking for exposure to the next big discovery.View Collective Mining's company profile: https://www.cruxinvestor.com/companies/collective-miningSign up for Crux Investor: https://cruxinvestor.com

Interview with Dan Noone, CEO of G2 Goldfields Inc.Our previous interview: https://www.cruxinvestor.com/posts/g2-goldfields-tsxvgtwo-gold-developer-path-to-production-within-2-3-years-4868Recording date: 5th March 2024G2 Goldfields (TSXV:GTWO) is an emerging gold exploration and development company focused on the highly prospective Guiana Shield in South America. The company's flagship asset is the OKO project in Guyana, which hosts a substantial high-grade gold resource with significant upside potential.In 2022, G2 Goldfields released a maiden resource estimate at OKO, delineating an indicated resource of 220,000 oz. Au within 793,000 tonnes @ 8.63 g/t Au, and more inferred resource of 974,000 oz within 3.2 Mt at 9.25 g/t gold. The company has since completed two years of additional drilling which is expected to expand the resource and upgrade a significant portion to the indicated category. This updated estimate is on track for release by the end of Q1 2024.Exploration success continued in 2023 with the discovery of the OKO Northwest zone, which returned 15m at 6 g/t gold in initial drilling. This new zone lies on trend with the main OKO deposit and demonstrates the potential for further discoveries along the 20km long property package.G2 Goldfields recently strengthened its balance sheet via a $22 million strategic investment from gold major AngloGold Ashanti, giving sufficient funds for exploration in the next two years. AngloGold's backing represents a significant vote of confidence in the OKO project and G2's management team.The company is taking a systematic approach to exploration at OKO, focusing on shallow drilling to expand the near-surface resource potential along the strike. The goal is to delineate the full scope of the project before advancing to economic studies. This strategy is expected to maximize value for shareholders by demonstrating the multi-million-ounce potential of the district.To support this work, G2 has refined its geological model of the OKO deposits, with a focus on targeting high-grade mineralization. The upcoming resource update should better reflect the distribution and continuity of these high-grade zones.Investors can expect strong news flow from G2 Goldfields in the coming months, with ongoing exploration results, the updated resource estimate, and potential new discoveries. The company is also advancing project development initiatives to streamline the permitting process.Overall, G2 Goldfields offers a compelling opportunity for exposure to a high-grade gold discovery in a top mining jurisdiction. With a substantial resource base, major backing, and multiple avenues for growth, the company is well-positioned to create value for shareholders. As the gold market gains momentum, G2 Goldfields stands out as an attractive investment proposition.View G2 Goldfileds' company profile: https://www.cruxinvestor.com/companies/g2-goldfieldsSign up for Crux Investor: https://cruxinvestor.com

Interview with Brendan Yurik, CEO of Electric Royalties Ltd.Our previous interview: https://www.cruxinvestor.com/posts/electric-royalties-tsxvelec-acquisition-of-1-million-acre-lithium-portfolio-4446Recording date: 5th March 2024Electric Royalties is a unique royalty company offering investors a diversified way to gain exposure to the clean energy transition. With a focus on metals critical to the electrification megatrend like lithium, manganese, tin, zinc, and graphite, Electric Royalties aims to build a portfolio of royalties on high-quality deposits in top-tier mining jurisdictions.The company already holds 22 royalties and is in the process of acquiring 22 more, which would double its portfolio to 44 royalties. The additional royalties are part of a broader package of hardrock lithium properties in Ontario that Electric Royalties is restructuring to reduce near-term cash outlay while preserving long-term optionality. CEO Brendan Yurik believes this region has significant potential. "We love hard rock lithium in eastern Canada and it was a great way to increase exposure."In the near term, several of Electric Royalties' assets are close to reaching production and could begin generating cash flow. The Penouta Tin-Tantalum Mine in Spain and the Middle Tennessee Mine Zinc property in the US, which both temporarily suspended operations, are expected to resume production once permitting and pricing issues are resolved. The Authier Lithium project in Quebec is in the final permitting stage, while the Seymour Lake lithium project in Ontario is undergoing a definitive feasibility study.Longer-term, Electric Royalties holds royalties on large, scalable assets like the Bissett Creek graphite project in Ontario, which has a mine life of over 70 years and could generate $5 million per year in royalties once production starts in 2025. The company also has royalties on the Battery Hill manganese project and Mont Sorcier vanadium project, both of which have the potential for decades of production.To fund further growth, Electric Royalties has a $10 million convertible debt facility from its largest shareholder, of which only $4.5 million has been drawn so far. This gives the company ample dry powder to continue acquiring royalties opportunistically. Management is taking a disciplined approach, targeting assets at an inflection point in their development where a capital injection can help bring them into production and generate near-term cash flow for Electric Royalties.The investment case for Electric Royalties is compelling. Demand for clean energy metals is projected to soar in the coming decades as the world electrifies and decarbonizes. However, supply is constrained and new projects face challenges ranging from funding to permitting to geopolitical risks. Electric Royalties offers a way to sidestep these challenges and gain exposure to a diversified basket of metals critical to the energy transition. If management can deliver on its growth objectives, the stock could have significant royalty potential.View Electric Royalties' company profile: https://www.cruxinvestor.com/companies/electric-royaltiesSign up for Crux Investor: https://cruxinvestor.com

Interview with Chris Doornbos, President & CEO of E3 Lithium Ltd.Our previous interview: https://www.cruxinvestor.com/posts/e3-lithium-tsxvetmc-scaling-up-modular-direct-lithium-extraction-in-canada-pfs-results-q1-2024-4220Recording date: 5th March 2024E3 Lithium (TSXV:ETL) is on a mission to become a major supplier of lithium, a critical component in the rapidly growing electric vehicle (EV) battery market. With its flagship Clearwater Project in Alberta, Canada, E3 is developing one of the largest lithium resources in the world, strategically located in the heart of Canada's energy industry.The company's Alberta lithium resource stands at an impressive 16 million tonnes of lithium carbonate equivalent (LCE) in the measured and indicated category - more than 5 times larger than the rest of Canada's lithium resources combined. E3 plans to extract the lithium using its proprietary Direct Lithium Extraction (DLE) technology, which has been successfully demonstrated in pilot studies. By leveraging existing oil and gas infrastructure and expertise in Alberta, E3 believes it can fast-track development and be in construction and production by 2026.One of E3's key advantages is its location in a jurisdiction with a streamlined permitting process. Alberta has a well-established framework for regulating resource extraction, and E3 expects to be able to secure necessary permits for its wells in a matter of months - a significant advantage over other lithium projects facing multi-year permitting timelines. This positions the company to be one of the first new lithium producers to market in North America.E3 is led by an experienced management team with deep roots in Alberta's energy sector. CEO Chris Doornbos and his team have a track record of successfully developing and operating complex resource projects in the province. The company also recently added former Alberta Energy Minister Sonya Savage to its board, bringing valuable policy expertise and government relationships.With its resource de-risked and a clear path to production, E3 is now focused on securing financing to construct its facilities. The company is pursuing multiple avenues, including government grants, strategic partnerships, and offtake agreements with EV manufacturers and battery producers. E3 expects to finance a significant portion of the project with debt once its pre-feasibility study is complete, expected in Q2 2024.While the lithium market has been volatile recently, E3 believes the long-term demand outlook remains robust as the EV revolution accelerates. The company aims to insulate itself from short-term price swings by signing off-take agreements with fixed pricing, providing certainty on the revenue side. As one of the most advanced lithium projects in North America, E3 is well-positioned to capitalize on the growing need for domestically sourced battery metals.For investors, E3 Lithium represents a unique opportunity to gain exposure to the energy transition story through a company with a large, proven resource in a favorable jurisdiction. With a clear path to production, a strong management team, and multiple financing options, E3 is an emerging player in the North American lithium space that is worth keeping on the radar. As the race to secure lithium supplies heats up, E3 Lithium is charging ahead with its ambitious plans to become a major supplier to the EV battery supply chain.View E3 Lithium's company profile: https://www.cruxinvestor.com/companies/e3-lithiumSign up for Crux Investor: https://cruxinvestor.com

Interview with Tara Christie, President & CEO of Banyan Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/banyan-gold-tsxvbyn-advancing-62moz-yukon-gold-project-to-production-4752Recording date: 6th March 2024Banyan Gold Corp. (TSXV:BYN) presents a compelling opportunity for investors seeking exposure to a substantially de-risked gold development story in a top mining jurisdiction. The company's flagship asset is the 100%-owned AurMac Gold Project located in the prolific Yukon Territory of Canada. With a recently updated resource totaling 7 million ounces of gold beginning right at surface, AurMac boasts exceptional scale for an advanced-stage project.Importantly, AurMac benefits from significant existing infrastructure including roads, power lines, and proximity to two operating mines - Keno Hill's silver operation and Victoria Gold's Eagle gold mine. This advantageous location has the potential to materially reduce initial capital costs in development.Preliminary metallurgical test work has delivered encouraging results at AurMac. Heap leach recoveries ranged from 60% to 72%, while tank-based leaching returned 84% recoveries. Notably, gravity recoverable gold content was very high at 53%, suggesting the potential for low processing costs. Banyan will look to further optimize these results and evaluate the economic trade-offs of various processing options as it advance the asset.From a financial perspective, Banyan is well-funded to continue advancing AurMac in a prudent, disciplined manner. The company has approximately $7 million in working capital which will support ongoing environmental baseline work, metallurgical testing, and a potential 6,000-meter drill campaign. Banyan has the operational flexibility to ramp up activities as warranted by market conditions, with ample existing infrastructure already in place.Underpinning the AurMac story is a highly favorable macro environment for gold. Persistent inflation concerns, recessionary fears, and broader economic uncertainty have driven a flight to safe haven assets, propelling gold to record highs in 2023. This backdrop has the potential to expand margins for gold producers and drive investment capital into the space, particularly among generalist investors making their first forays into the mining sector. AurMac's impressive scale, robust grades and substantial exploration upside position Banyan to disproportionately benefit from this rising tide.With a multi-million-ounce resource, strong infrastructure, and a clear path to value creation, Banyan Gold offers a compelling risk/reward proposition at current valuations. Leadership is acutely focused on delivering key de-risking milestones while maintaining a healthy treasury to navigate any market environment. View Banyan Gold's company profile: https://www.cruxinvestor.com/companies/banyan-gold-incSign 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-past-producer-unearthing-high-grade-nickel-4919Recording date: 6th March 2024Magna Mining, a Sudbury-focused exploration and development company, is making significant strides in advancing its high-grade copper-nickel assets towards production. CEO Jason Jessup provided an insightful update on the company's progress and shared his perspective on the nickel market outlook.A key milestone was achieved this week as Magna received approval for its final closure plan at the Crean Hill project. This approval enables the company to transition from closure to production, starting with a surface bulk sample from the high-grade footwall zone, which contains impressive grades and reported resource of over 227,000 tonnes of nickel, 204,000 tonnes of copper, and 1.7 million ounces of platinum, palladium, and gold.Following the bulk sample, Magna plans to develop an underground ramp to access the deeper portions of the deposit. The amended closure plan outlines a 400,000-ton program, providing at least 2.5 years of production and ample opportunity to optimize the life-of-mine plan.Investors can anticipate a significant announcement by the end of March, as Magna is on track to secure an ore-selling agreement. This agreement will establish the framework for the project's economics and is expected to be a catalyst for the company's valuation.To fund the development of Crean Hill, estimated at $48 million based on a previous Preliminary Economic Assessment (PEA), Magna is pursuing a prudent financing strategy. The company is actively seeking government grants and considering the sale of royalties or streams on the precious metal byproducts. This approach has the potential to fully fund the project's development without the need for equity dilution.Magna is currently updating the resource estimate for Crean Hill, incorporating the results of the 19,000 meters of drilling completed last year. The drilling yielded some spectacular grades, particularly in the footwall areas, and is expected to improve the overall resource. The updated estimate is anticipated by the end of June and will form the basis for a revised mine plan targeting higher grades and margins.Jessup emphasized the simplicity of Magna's projects, describing them as past-producing nickel mines that are near-surface and high-grade. The company's focus is on thoughtful de-risking and moving efficiently into production. With the addition of Jeff Huffman as Chief Operating Officer, Magna has strengthened its operational expertise and is well-positioned to execute on its plans.Addressing the recent concerns about Indonesian nickel supply, Jessup offered a balanced perspective. While acknowledging the short-term impact on nickel prices, he believes the predictions about the magnitude and timing of Indonesian nickel entering the market may be overstated. Jessup expects nickel prices to stabilize in a range between $8 and $10 per pound over the next couple of years, which is highly favorable for Magna's economics.In conclusion, Magna Mining presents a compelling investment opportunity for those seeking exposure to high-quality copper-nickel assets in a world-class mining jurisdiction. With key approvals in place, ore selling agreements and permits on track, and a prudent financing strategy, the company is well-positioned to efficiently transition into production and generate significant value for shareholders. The upcoming updated resource estimate and revised mine plan are expected to showcase the project's improved grades and margins, further enhancing its attractiveness. As the global demand for critical minerals continues to grow, Magna Mining is poised to play a significant role in supplying the metals necessary for the low-carbon economy.View Magna Mining's company profile: https://www.cruxinvestor.com/companies/magna-miningSign up for Crux Investor: https://cruxinvestor.com

Interview with Neil Pettigrew, VP Exploration of GT Resources Inc.Recording date: 6th March 2024GT Resources (TSXV:GT) is a junior mining company that is strategically positioned to benefit from the growing demand for key metals used in green transportation. With a focus on copper, nickel, platinum, and palladium, GT is aligning itself with the global shift towards electrification and cleaner emissions.One of GT's key strengths is its strong financial position. With close to $10 million in cash, the company has the flexibility to pursue opportunistic acquisitions in the current market downturn. This disciplined approach to capital allocation prioritizes adding advanced-stage projects in proven mining jurisdictions over drilling existing properties. By acquiring assets at attractive valuations, GT aims to create significant shareholder value in the long-term.GT's existing portfolio includes the Tyko copper-nickel project and the drill-ready CanAlask high-grade nickel-copper project. While these assets provide optionality, the company's primary focus is on acquiring new projects that fit its green transportation metals theme. Management is actively evaluating potential deals and is well-positioned to execute its strategy given its strong cash position and the increasingly favorable market conditions for buyers.Importantly, GT is taking a long-term view and positioning itself to benefit from the macro trends driving demand for its key metals. The electrification of transportation is expected to accelerate in the coming years, driven by supportive government policies, falling costs, and improving technology. This will require significant amounts of copper and nickel to build out charging infrastructure and manufacture batteries. At the same time, platinum and palladium are likely to see continued demand for their use in catalytic converters as emissions standards tighten.By focusing on this suite of metals, GT is providing investors with exposure to the green transportation revolution. The company's strategy is underpinned by a disciplined approach to acquisitions, a focus on proven mining jurisdictions, and a strong balance sheet. As the market recognizes the value of GT's assets and the strength of its management team, the company is well-positioned to re-rate higher.For investors seeking a compelling opportunity in the junior mining space, GT Resources offers a unique combination of strategic positioning, financial strength, and significant upside potential. As the world transitions to a greener future, GT is poised to play a key role in supplying the metals needed to make it happen. With a clear plan for value creation and a disciplined approach to execution, GT Resources is a company to watch in the years ahead.Learn more: https://cruxinvestor.comSign up for Crux Investor: https://cruxinvestor.com

Interview with Lon Shaver, Vice President of Silvercorp Metals Inc.Our previous interview: https://www.cruxinvestor.com/posts/silvercorp-tsxsvm-transformational-acquisition-of-permitted-gold-project-3947Recording date: 6th March 2024Silvercorp Metals, a well-established silver producer with a strong track record of profitability and shareholder returns, is embarking on an ambitious growth strategy to take the company to the next level. With a solid financial position, a producing asset base in China, and a disciplined approach to acquisitions, Silvercorp offers investors a compelling mix of downside protection and upside potential in a strengthening precious metals market.At the core of Silvercorp's growth strategy is the optimization of its flagship Ying mine in China. Despite Ying's impressive performance since commencing production in 2006, the company has identified several opportunities to enhance the mine's productivity and extend its lifetime. Key initiatives include the adoption of more mechanized mining methods to overcome labor availability challenges, the implementation of advanced ore sorting technology to upgrade mill feed, and a low-cost expansion of milling capacity. These improvements, to be implemented gradually across Ying's seven individual mines, are expected to unlock significant value and position the asset for continued success.Alongside its organic growth plans, Silvercorp is also pursuing external growth through disciplined M&A. The company's ongoing pursuit of Tanzanian gold developer Orcorp and its Nyanzaga project showcases Silvercorp's ability to identify and act on attractive acquisition opportunities. Despite the emergence of a competing bid, Silvercorp remains confident in the merits of the transaction and its ability to create value for shareholders. Importantly, however, the company's growth strategy does not hinge on any single deal, with a robust project pipeline and active business development efforts ensuring multiple avenues for value creation.Underpinning Silvercorp's growth strategy is its strong financial position and track record of successful operations in jurisdictions perceived as higher-risk. With a history of profitable production and dividend payments, Silvercorp offers investors a relatively safe haven in a volatile mining sector. At the same time, the company's experience operating in China for nearly two decades positions it to capture value in jurisdictions where other miners may face challenges. As Vice President Lon Shaver notes, the jurisdictional risk is often more perception than reality, with permitting hurdles in western countries frequently posing greater obstacles to mine development than operating in countries like China.With a compelling mix of downside protection and growth potential, a strong balance sheet, and a disciplined approach to value creation, Silvercorp Metals is well-positioned to deliver outsize returns for shareholders in the years ahead. As the precious metals bull market gathers momentum, Silvercorp's unique combination of assets, experience, and strategy make it a mining stock to watch.View Silvercorp Metals' company profile: https://www.cruxinvestor.com/companies/silvercorp-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with Peter Akerley, President & CEO of Erdene Resource Development Corp.Our previous interview: https://www.cruxinvestor.com/posts/erdene-resource-development-tsxverd-targeting-2025-gold-production-4703Recording date: 5th March 2024Erdene Resource Development Corp (TSX:ERD) is transforming from a gold explorer to a producer with its high-grade, open-pit Bayan Khundii project fully funded and now in construction. Erdene offers investors near-term gold production and cash flow, substantial exploration and expansion upside, and a strategic partnership with Asia's leading mining firm.After over 20 years of exploring in Mongolia, Erdene is developing its flagship Bayan Khundii gold project in a 50/50 joint venture with Mongolia Mining Corp (MMC). MMC has invested US$40 million for its stake, de-risking the project and bringing significant mining and operational expertise. The mine is expected to produce an average of 87,000 ounces of gold per year over an initial 6-year mine life, at an all-in sustaining cost of around $900/oz, generating $80 million in annual after-tax cash flow (at $2000 gold) to be split with MMC. Erdene retains a 5% NSR royalty on all production from the 700 sq km area around Bayan Khundii.Beyond this first mine, Erdene sees potential to extend the mine life and expand production by developing nearby satellite deposits. The company has delineated 700,000 oz of additional gold resources at its Dark Horse, Ulaan and Altan Arrow deposits, which could provide feed for an expanded plant. Longer-term, management believes there is potential for additional gold and copper discoveries in this underexplored mineral belt to develop a multi-mine, multi-commodity district.Erdene intends to use its share of future cash flows to pay down debt, invest in exploration and development, and potentially pay dividends. The company's partnership with MMC, which is investing in district-scale infrastructure, provides a strong foundation to build a mining district and generate long-term value for shareholders.As the company transitions to producer status over the next 12 months, it appears poised for a significant re-rating. For investors, Erdene offers a compelling opportunity to gain exposure to a new high-grade gold producer in a highly prospective region, with a strong partner, near-term cash flow, and district-scale growth potential.View Erdene Resource Development's company profile: https://www.cruxinvestor.com/companies/erdene-resource-developmentSign up for Crux Investor: https://cruxinvestor.com

Interview with Brett Heath, President & CEO of Metalla Royalty & Streaming Ltd.Recording date: 5th March 2024Metalla Royalty (TSXV:MTA) presents an attractive opportunity for investors to gain exposure to rising precious metals and copper prices. As a royalty and streaming company, Metalla offers key benefits compared to mining equities including diversification, lower risk, and the ability to participate in exploration upside at no additional cost.The company has assembled a portfolio of over 100 royalties and streams focused on gold, silver, and copper projects throughout the Americas. This provides broad exposure to some of the most prolific mining jurisdictions globally.Five assets are currently in production, delivering around 3,500 gold equivalent ounces to Metalla annually. Investors can look forward to a major growth inflection over the next five years as several development projects commence operations. By 2028, Metalla forecasts annual production of approximately 15,000 gold equivalent ounces, a more than 4x increase from today's levels.Beyond precious metals, Metalla offers significant copper exposure through royalties on large, advanced-stage projects in the Americas. Although these assets will take years to be built, they provide long-term optionality on a metal that stands to benefit immensely from the global energy transition.To fund its growth, Metalla has taken a prudent approach by transacting opportunistically and minimizing shareholder dilution. The company's largest shareholder is Beedie, a well-regarded Canadian investment firm, underscoring the merits of Metalla's strategy.Importantly, investors can look forward to direct returns as early as late 2025 when Metalla plans to initiate a capital returns program. Based on the expected cash flow growth, the company aims to pay a regular dividend that can increase annually for at least a decade. Opportunistic share buybacks are also on the table.As the company's production and cash flow expand over the next few years, there is ample room for this valuation gap to close. Investors are essentially able to buy a rapidly growing royalty company at a beaten-down price. For investors constructive on precious metals and copper prices, Metalla offers a compelling way to play these commodities through a proven business model and attractive valuation.View Metalla Royalty's company profile: https://www.cruxinvestor.com/companies/metalla-royaltySign 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-tsx-vfind-unlocking-uranium-potential-in-canadas-prolific-athabasca-basin-4887Recording date: 5th March 2024Baselode Energy Corp (TSXV:FIND) is taking an unconventional approach in the hunt for the next big uranium discovery in Saskatchewan's Athabasca Basin. While most explorers focus on deep targets in the Basin center, Baselode is betting on shallower deposits along the Basin margins with their "Athabasca 2.0" strategy.CEO James Sykes believes this gives Baselode a key advantage. Shallow targets are cheaper and faster to drill, allowing the company to test more areas with the same exploration budget. "We're looking for things shallower than 200m," Sy explained. "We want to maintain that shallow focus because we know those types of deposits go into production much quicker."Baselode recently raised $6 million to fund an expanded 4,000-meter drill program across 6-8 target areas. Early results are encouraging, with the first three holes confirming key alteration and fluid movement systems needed to host uranium mineralization.The company also plans to expand on the existing ACKIO zone discovery at their flagship Hook project. A summer drill program will test for extensions to the promising uranium mineralization intersected in previous drilling. While exploration is high risk, Baselode's technical approach of using geophysics and other methods to refine drill targets improves their odds of success.The uranium market is experiencing a resurgence, driven by recognition of nuclear power's importance in decarbonizing global energy systems. Demand growth is expected to outpace current production, creating opportunities for new discoveries in proven jurisdictions like the Athabasca Basin.Baselode's "Athabasca 2.0" strategy offers investors a compelling exploration story with the potential for a shallower, easier-to-develop uranium discovery. When Baselode does manage to delineate a significant shallow uranium deposit, it could be very lucrative for shareholders given the current market enthusiasm for new discoveries.With an aggressive drill program planned and a team highly motivated to deliver results, Baselode Energy is a uranium explorer to watch in 2024. The next drill hole could be the one that delivers a company-making discovery.View Baselode Energy's company profile: https://www.cruxinvestor.com/companies/baselode-energySign up for Crux Investor: https://cruxinvestor.com

Interview with Max Porterfield, President & CEO of Callinex Mines Inc.Our previous interview: https://www.cruxinvestor.com/posts/callinex-mines-tsxvcnx-unlocking-the-code-in-flin-flon-copper-vms-district-4742Recording date: 4th March 2024Callinex Mines (TSXV:CNX) presents a compelling investment opportunity for those seeking exposure to high-grade copper discoveries in a top-tier mining jurisdiction. The company's flagship Pine Bay project in Manitoba, Canada has yielded multiple discoveries in recent years, including the Rainbow, Alchemist, and Descendant zones. These discoveries showcase the potential for a significant mineralized system in an area with a rich mining history but limited exploration at depth.Callinex has taken an innovative approach to exploration at Pine Bay, employing cutting-edge geophysical techniques such as magnetotellurics (MT) to target deeper mineralization. This strategy has already paid off with the discovery of the Rainbow deposit in 2020, which boasts an average thickness of 8 meters and remains open at depth. Subsequent drilling has led to the discoveries of Alchemist and Descendant, with the latter exhibiting an alteration footprint ten times the size of Rainbow.By focusing on a well-established mining district with access to infrastructure and a skilled labor force, Callinex has been able to significantly reduce exploration costs and timelines compared to more remote projects. This has allowed the company to make multiple discoveries while maintaining a tight share structure and a healthy balance sheet, with approximately six months of working capital and no debt.The company's recent success has not gone unnoticed, with Callinex attracting interest from both institutional investors and major mining companies. Despite the challenging market conditions faced by many junior miners over the past year, Callinex remains optimistic about the potential for a significant re-rating of Callinex's stock as the company continues to deliver positive exploration results and the broader mining market recovers.For copper, the long-term demand outlook remains robust, driven by the global energy transition and infrastructure spending, while supply remains constrained due to a lack of new discoveries and long development timelines.With multiple near-term catalysts on the horizon, including expanded drilling at Pine Bay and the potential for additional discoveries, Callinex presents a compelling risk-reward proposition for investors. As Porterfield concludes, "2024 is the year that Pine Bay grows into a tier-one asset," highlighting the significant upside potential for shareholders as the company continues to advance its exciting portfolio of projects.View Callinex Mines' company profile: https://www.cruxinvestor.com/companies/callinex-minesSign up for Crux Investor: https://cruxinvestor.com

Interview with Bruce Lane, Executive Director of GTI EnergyOur previous interview: https://www.cruxinvestor.com/posts/gti-energy-asxgtr-revitalizing-americas-nuclear-fuel-supply-4888Recording date: 4th March 2024GTI Energy (ASX:GTR) is an emerging uranium developer focused on advancing the Lo Herma In-Situ Recovery (ISR) project in Wyoming's Powder River Basin. With a current resource of 5.7 million pounds and significant expansion potential, GTI is positioning Lo Herma as an attractive future production opportunity in a strengthening uranium market.Lo Herma is located in a major U.S. uranium-producing region in Wyoming, surrounded by operating ISR mines and development projects owned by established players. GTI believes the project has strong geologic similarities to several successful nearby deposits.The company's near-term focus is on growing the Lo Herma resource through additional drilling to enhance the project's economic profile. GTI plans to drill 70-80 holes this year to upgrade and expand upon the existing 5.7 million pound resource to 10+ million pounds.To support the technical work required to advance Lo Herma, GTI recently strengthened its team with the addition of Matt Hartman, an experienced ISR geologist and engineer. Hartman's expertise spans all facets of ISR project assessment and development, including economic studies. His knowledge and connections are expected to be valuable as GTI pursues further drilling and economic studies at Lo Herma over the next 12-24 months.The company is preparing to raise additional capital to accelerate drilling and development activities at Lo Herma. The outlook for the uranium market continues to improve as more governments and utilities turn to nuclear energy to support clean energy goals. Prices have already rebounded to 11-year highs above $60/lb as major producers have cut supply and accelerated purchasing. Many analysts expect further price appreciation to incentivize the new production required to meet rising demand.As the company expands and upgrades the resource and demonstrates the potential for an economically robust operation, the project should become increasingly attractive to investors looking for long-term uranium exposure. With a large, scalable resource in a prime location, an experienced technical team, and several potential catalysts on the horizon, GTI Energy appears to be an undervalued opportunity in the resurgent uranium space. Ongoing drilling success and a maiden economic study at Lo Herma could help the company re-rate towards its more advanced peers as the sector continues to gain momentum. GTI offers investors leveraged exposure to rising uranium prices through a relatively de-risked ISR project in a top U.S. jurisdiction.View GTI Energy's company profile: https://www.cruxinvestor.com/companies/gti-energySign up for Crux Investor: https://cruxinvestor.com

Interview with Chris Frostad, President & CEO of Purepoint UraniumOur previous interview: https://www.cruxinvestor.com/posts/purepoint-uranium-tsxvptu-developing-high-grade-projects-with-cameco-and-orano-4891Recording date: 4th March 2024Purepoint Uranium Group (TSXV:PTU) is an exploration company focused on making the next big uranium discovery in the Athabasca Basin of Saskatchewan, Canada. With a portfolio of high-potential projects, strategic partnerships with industry leaders, and a proven management team, Purepoint offers investors leveraged exposure to the unfolding bull market in uranium.The uranium market is heating up, driven by growing global demand for clean, reliable baseload power. As utilities scramble to secure long-term supply contracts and the uranium price continues to rise, Purepoint is well-positioned to capitalize on the upswing.The company's flagship projects, Hook Lake and Smart Lake, are held in joint ventures with uranium heavyweights Cameco and Orano. These properties are situated on trend with recent high-grade discoveries where Purepoint is the operator while Cameco and Orano provide funding and technical expertise.Purepoint President & CEO Chris Frostad emphasizes the importance of these partnerships. While Cameco and Orano are funding the bulk of the work at Hook Lake and Smart Lake, their long-term timelines insulate Purepoint from any short-term pressure to deliver an immediate discovery. This allows the company to take a methodical, science-driven approach to exploration, deploying cutting-edge geophysical and geochemical techniques to identify high-priority drill targets.Beyond its joint venture projects, Purepoint has a deep pipeline of 100%-owned properties that are being advanced up the exploration ladder. These include the Red Willow, Henday Lake, and Carson Lake projects, as well as the Tabbernor Project which consists of 34 claims that total over 79,000 hectares.For investors looking to gain exposure to the uranium exploration space, Purepoint Uranium offers a compelling mix of upside potential and downside protection. With a robust project portfolio, strategic partnerships, and a disciplined approach to capital allocation, the company is well-positioned to create long-term value for shareholders. While exploration is never without risk, Purepoint's experienced team and focus on the fundamentals make it a standout pick in the junior uranium sector.View Purepoint Uranium's company profile: https://www.cruxinvestor.com/companies/purepoint-uranium-group-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Cal Everett, CEO, and Jon Gilligan, President & COO, of Liberty Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/liberty-gold-tsxlgd-advancing-flagship-black-pine-project-towards-production-4902Recording date: 5th March 2024Liberty Gold Corp. (TSX:LGD) is an advanced-stage gold exploration and development company focused on advancing its two flagship arlin-style, sedimentary rock-hosted oxide gold projects towards production in the Great Basin region of the United States.Liberty's primary focus is the Black Pine project in southern Idaho, which hosts a 3.5 million ounce gold resource across two deposits with significant expansion potential. The company is rapidly advancing Black Pine, with a pre-feasibility study (PFS) expected in Q3 2024 followed by submission of a mine plan to initiate the three-year NEPA permitting process in Q4 2024.Liberty's secondary asset is the earlier-stage Goldstrike oxide gold project in southwest Utah, which provides additional development pipeline optionality and value.From a macro perspective, the outlook for gold remains favorable, supported by elevated inflation, a weakening U.S. dollar, and geopolitical uncertainties. Everett sees gold continuing to "step up" to progressively higher levels, providing a strong backdrop for developers.For investors, Liberty represents a unique opportunity to gain exposure to an advanced-stage gold developer in a stable jurisdiction. The company's strong management, substantial resource base, and positive gold market outlook are key attractive attributes. While permitting and financing risks remain, these are partially mitigated by Blackpine's favorable location and the team's experience.Potential upcoming catalysts for Liberty include PFS results and permitting initiation at Black Pine, drill results from expansion targets, and project financing. As the company continues to systematically advance its projects and deliver on key milestones, the stock appears poised to re-rate higher.With a compelling investment thesis, several near-term catalysts, and an attractive valuation for an advanced-stage developer, Liberty Gold warrants serious consideration for investors looking to gain exposure to a high-quality gold story in a constructive macro environment for precious metals.View Liberty Gold's company profile: https://www.cruxinvestor.com/companies/liberty-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with John Cash, CEO of Ur-Energy Inc.Our previous interview: https://www.cruxinvestor.com/posts/ur-energy-incamexurg-securing-high-value-contracts-and-uranium-production-ramp-up-3863Recording date: 4th March 2024UR-Energy (AMEX:URG), a Wyoming-focused in-situ recovery (ISR) uranium producer, presents a compelling opportunity for investors looking to capitalize on the improving uranium market fundamentals. The company has been producing from its flagship Lost Creek mine since 2013, demonstrating its technical capabilities and low-cost structure. With Lost Creek production ramping up and the fully permitted Shirley Basin project waiting in the wings, Ur-Energy offers visible production growth potential in a rising uranium price environment.A key differentiator for Ur-Energy is its status as a proven producer. Lost Creek has operated continuously for over a decade, showcasing the company's ISR expertise. The mine is licensed for 1.2 million pounds per year, while the processing plant is permitted for 2.2 million pounds per year. This excess capacity provides important flexibility, allowing Ur-Energy to process uranium from its other projects or even toll process material for other producers in the area.Beyond Lost Creek, Ur-Energy is advancing Shirley Basin as its next production source. Shirley Basin is fully permitted and ready for construction, with the company waiting to layer in additional sales contracts before proceeding with development. This disciplined approach ensures Ur-Energy will have a clear economic case for the project before committing the capital.Underpinning the Ur-Energy story is a uranium market in the early innings of a bull cycle. Demand is rising, driven by new reactor buildouts, while supply remains constrained. This has created a growing gap between supply and demand that should support higher uranium prices in the years ahead. Ur-Energy is well-positioned to benefit from rising prices through a combination of uncontracted production and long-term contracts.Ur-Energy offers investors a compelling mix of low-cost production, visible growth potential, and exposure to an improving uranium market. With a proven management team, strong project pipeline, and disciplined focus on economics, the company is well-positioned to create value for shareholders in the coming years. As the uranium bull market continues to unfold, Ur-Energy should be on the radar of investors looking for exposure to this growing opportunity.View Ur-Energy's company profile: https://www.cruxinvestor.com/companies/ur-energy-incSign 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-major-copper-discovery-potential-seen-in-peru-4863Recording date: 4th March 2024Chakana Copper (TSX-V: PERU) is a junior exploration company that offers a compelling opportunity for exploration upside in 2024. The company's flagship Soledad project in Peru has already yielded a significant high-grade copper-gold-silver discovery, with a maiden resource boasting over 600,000 gold equivalent ounces starting at surface.Chakana has systematically advanced Soledad with 62,000 meters of drilling to date funded by $52 million in raises from strategic investors including mining heavyweights Goldfields and Rick Rule. Their involvement provides strong validation of the project's potential.Now, Chakana is poised to kick off a pivotal 3,000-meter drill program in April to test two exciting new targets: a potential copper-gold porphyry system underlying the known high-grade breccia pipes, and a high-sulphidation epithermal target that could represent the top of a large mineralized system.While this initial program is modest in scale, it will provide valuable information about the potential for these targets to host tier-one scale deposits. Goldfields has indicated that intercepting a large mineralized system, even without economic grades on the first pass, would be considered a success that warrants follow-up drilling.Positive drill results could drive a significant re-rating of Chakana's stock. Investors should monitor upcoming drill results closely and be prepared to act quickly to capitalize on any exploration success.The current market environment for copper is highly favorable, with growing structural supply deficits expected as the world transitions to a low-carbon economy. This backdrop is likely to drive strong interest in and premium valuations for new, scalable copper discoveries.For investors with a high-risk tolerance and a penchant for exploration upside, Chakana Copper presents a timely opportunity. With drilling now underway, the company appears poised for a potential re-rating on exploration success in the coming months. Positive drill results could quickly put Chakana on the map for investors, driving substantial returns. Investors should size any position appropriately and be prepared to adapt their thesis as the company's story evolves.View Chakana Copper's company profile: https://www.cruxinvestor.com/companies/chakana-copperSign 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-major-backers-validate-canada-nickels-potential-4809Recording date: 5th March 2024Canada Nickel (CNC) is emerging as a premier investment opportunity in the rapidly growing electric vehicle (EV) supply chain. The company's flagship Crawford project in Ontario hosts the world's second-largest nickel sulfide resource and is on track to commence its first production by 2027.CNC has earned the backing of mining giants Anglo American and Agnico Eagle, as well as EV battery leader Samsung SDI. These industry heavyweights provide not only capital, but also invaluable technical, operational, and marketing expertise to de-risk and optimize Crawford.The Ontario and Canadian federal governments have also thrown their full support behind CNC, recognizing the viral role domestic critical mineral supply chains will play in the energy transition. With billions in government funding set to be deployed starting in mid-2024, CNC is well-positioned to access non-dilutive financing for Crawford and its newly established downstream processing business.While Crawford alone positions CNC as a globally significant nickel producer, the exploration upside across its Timmins properties is equally compelling. The company has identified seven additional targets with a combined footprint 10 times larger than Crawford's. By early 2025, CNC plans to publish maiden resources on these prospects which could vault it into the ranks of the world's largest nickel developers.Underpinning CNC's ambitious growth plans is the exponential demand growth expected for battery-grade nickel as EV adoption accelerates. Automakers and cell manufacturers are scrambling to lock in long-term supplies of responsibly sourced critical minerals. CNC's commitment to net zero emissions and strategic location in the mining-friendly jurisdiction of Canada make it a highly attractive partner.The company is not content to simply be a miner, however. Its newly established downstream processing unit, led by a team of industry veterans, aims to capture additional margin and qualify for generous government incentives by supplying battery-grade nickel directly to customers.For investors, CNC offers a unique combination of world-class assets, unparalleled exploration upside, strategic industry, government partnerships, and leverage to the EV supercycle. With the Crawford project approaching construction and a potential stream of new discoveries on the horizon, CNC appears poised to create substantial shareholder value in the years ahead as it cements its position as the go-to supplier of clean, zero-carbon nickel.View Canada Nickel's company profile: https://www.cruxinvestor.com/companies/canada-nickelSign up for Crux Investor: https://cruxinvestor.com

Interview with Christian Easterday, Managing Director & CEO of Hot Chili Ltd.Our previous interview: https://www.cruxinvestor.com/posts/hot-chili-asxhch-growth-pivot-positions-for-copper-price-upside-3930Recording date: 3rd March 2024Hot Chili Ltd (ASX:HCH) is developing the advanced-stage Costa Fuego copper-gold project in Chile, aiming to help fill an impending global supply gap. With one of the world's largest undeveloped copper resources, strong project economics, and unique infrastructure advantages, Hot Chili presents a compelling opportunity for investors.Costa Fuego boasts an updated Costa Fuego resource totaling 1.0 billion tonnes grading 0.45% copper equivalent (CuEq). Over 80% of this resource now sits in the higher-confidence Measured and Indicated (M&I) categories at similar grades, including 0.8 billion tonnes at 0.45% CuEq. This positions Costa Fuego as one of the largest undeveloped copper resources globally.Several factors contribute to Costa Fuego's low-cost profile. The deposit starts at surface, enabling low-strip open-pit mining. The ore is amenable to conventional flotation processing, achieving high recoveries at a coarse grind size. Critically, Costa Fuego is located just 20 km from the Pacific Ocean at low elevations, allowing the use of low-cost seawater instead of expensive desalinated water.Northern Chile is facing severe water restrictions, forcing most miners to consider expensive and time-consuming desalination projects. Hot Chili, in contrast, has already secured maritime concessions allowing for the direct use of seawater, eliminating the need for desalination. It's a key differentiator that enhances the project's economics and development timeline.Looking beyond Costa Fuego, Hot Chili sees potential to leverage its water rights to facilitate broader mine development in the region. The company's maritime concession provides enough water to support not just Costa Fuego, but up to five other deposits nearby. By enabling these mines to "piggyback" on its infrastructure, Hot Chili could help unlock stranded assets and bring new supply online sooner.With a pre-feasibility study expected in H2 2024, Hot Chili is making rapid progress. Upcoming catalysts include a maiden reserve, completion of the PFS, commencement of a full feasibility study, and potential water infrastructure partnerships. As these milestones are achieved, the company's current modest market valuation could quickly be re-rated by investors.In a market facing a structural supply deficit and strengthening copper prices, Hot Chili stands out as an attractively valued investment with significant upside. The company is well-positioned to be Chile's next major coastal copper mine, with the unique ability to enable and benefit from regional development. As the Costa Fuego story gains momentum, investors would be wise to pay attention.View Hot Chili's company profile: https://www.cruxinvestor.com/companies/hot-chili-limitedSign up for Crux Investor: https://cruxinvestor.com

Interview with Claudia Tornquist, President & CEO, and Christopher Taylor, Chairman of Kodiak Copper Corp.Our previous interview: https://www.cruxinvestor.com/posts/kodiak-copper-tsxvkdk-hunting-for-more-copper-discoveries-in-bc-4697Recording date: 3rd March 2024Kodiak Copper (TSXV:KDK) is a junior mining explorer developing the advanced-stage MPD copper-gold porphyry project in mining-friendly southern British Columbia, Canada. The 100%-owned MPD project offers exposure to a large-scale porphyry discovery in a region of multi-million ounce deposits.Kodiak made a game-changing discovery at MPD in 2020, hitting 282 meters of 0.70% copper and 0.49 g/t gold (1.16% CuEq) at the Gate Zone. Subsequent drilling has significantly expanded mineralization at Gate, which now extends over 1 km in strike and remains open. Kodiak also discovered a parallel trend of high-grade mineralization at the nearby Prime Zone, highlighting the multi-centered nature of the MPD system.Kodiak is one of the first junior explorers to adopt artificial intelligence in its exploration strategy through a new partnership with AI firm VRIFY AI. Kodiak is feeding its vast geochemical and geophysical datasets into VRIFY AI's algorithms which use machine learning to identify new prospective drill targets. In early tests, the AI successfully identified known mineralization and generated a series of exciting new targets for follow-up.AI integration has the potential to be a major disruptive force in mineral exploration. Kodiak expects AI to help accelerate the discovery process, enhance drill hit rates, and reduce overall exploration costs at MPD. This could give the company a key competitive advantage as it aims to unlock the full scale of MPD.Kodiak is well-funded to capitalize on this AI-driven approach with C$7.5 million in working capital. The company recently closed an oversubscribed $8.4 million financing which will fund exploration through 2024. Kodiak plans proceed with first-ever drilling of the AI-generated targets and new areas identified by VRIFY AI as part of the 2024 exploration program.Kodiak is well-positioned to benefit from a strong copper market. Copper prices are expected to outperform over the next decade due to rising demand from the clean energy transition and global infrastructure spending. Meanwhile, new mine supply is constrained, setting the stage for a potential supply crunch.View Kodiak Copper's company profile: https://www.cruxinvestor.com/companies/kodiak-copper-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-advancing-towards-a-copper-resource-4776Recording date: 3rd March 2024Pan Global Resources (TSXV:PGZ) is a copper exploration company focused on the prolific Iberian Pyrite Belt in southern Spain. The company's flagship Escacena Project hosts the La Romana and Cañada Honda discoveries, two significant volcanic-hosted massive sulfide (VMS) systems with compelling grades and scale potential.La Romana is the most advanced target, with over 180 drill holes defining a shallow, high-grade copper-tin mineralized zone. The deposit boasts some of the highest tin grades in the region and is distinguished by its coarser-grained, lower pyrite mineralization, which suggests potential for a simpler, lower-cost metallurgical process. Preliminary test work indicates that a high-quality over 25% copper concentrate could be produced at a coarse grind size.Pan Global is planning 3,000-4,000 meters of drilling in 2024 to expand La Romana and test satellite targets to determine the ultimate scale of the mineralized system before issuing a maiden resource. The company sees potential for La Romana to support a standalone operation.The recent Cañada Honda discovery, situated just 3 km north, provides a template for additional discoveries across Pan Global's large land package. An 11-hole step-out drill program at Cañada Honda started in November and resumes in January 2024 to test the potential to significantly expand the discovery. Together with La Romana, the prospects form the nucleus of a potential new mining camp.Spain is emerging as a top mining jurisdiction, with a rich history of VMS mining in the Iberian Pyrite Belt and a supportive permitting environment. The government has established a dedicated mining accelerator unit to streamline the permitting process and advance new projects. With a strong treasury of over C$3-5 million, Pan Global is well-funded to execute on its exploration plans through 2025. Pan Global offers a compelling investment opportunity based on the quality of its La Romana discovery and the scale potential across its dominant land position in a world-class VMS district. The company's strong financial position and technical expertise position it to create value through exploration success and strategic partnerships. With a market capitalization of just C$40 million and multiple near-term catalysts, including drill results and metallurgical studies, Pan Global is an attractive copper exploration story in a Tier-1 jurisdiction.View Pan Global Resources' company profile: https://www.cruxinvestor.com/companies/pan-global-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Stephen Stares, President & CEO of Benton Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/benton-resources-tsxvbex-striking-bonanza-copper-gold-grades-4748Recording date: 3rd March 2024Benton Resources (TSXV:BEX) is making significant progress at its flagship Great Burnt Lake copper-gold project in central Newfoundland, with recent drilling returning some of the best intercepts in the company's history. Massive sulphide intervals grading over 20% copper have been encountered, within wider zones of high-grade Cu-Au VMS mineralization.Drilling has traced a steeply-plunging mineralized lens over 650 m down-plunge, with thicknesses of 75-200 m in the core of the deposit. Based on results to date, Benton sees potential for a 1-2 million ton high-grade resource at Great Burnt Lake.The company is targeting a camp-scale VMS system with the potential for a 30-40 million ton resource along this district-scale land package. Benton has identified dozens of untested geophysical conductors and geochemical anomalies along the trend, which will be aggressively explored through mapping, sampling, and geophysical surveys to define new drill targets. The company started a 3,000-4,000 m drill program to infill and expand the known zones and test for new lenses.A key advantage for Benton is the project's excellent infrastructure, with road access and a camp located near a hydroelectric dam just 2.5 km from the main deposit. This is allowing for highly efficient and low-cost exploration, with the current drill program achieving rates of over 200 m/day at all-in costs of just over $200/m.As a prospect generator, Benton's business model is to make discoveries and monetize them for a significant return to shareholders. However, results from Great Burnt Lake have been so impressive that management is weighing the potential to build out this asset as a company-maker.With a tight share structure and cash position of C$2.5, Benton is well-funded to advance Great Burnt Lake while evaluating new opportunities. Catalysts in the coming months will include drill results from the current and upcoming programs, metallurgical test work, and potential new discoveries along this highly prospective VMS belt.View Benton Resources' company profile: https://www.cruxinvestor.com/companies/benton-resources-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Ian Harris, President & CEO of Outcrop Siver&Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/outcrop-silver-gold-tsxvocg-unlocking-high-grade-silver-potential-4692Recording date: 3rd March 2024Outcrop Silver & Gold (TSXV:OCG) is advancing one of the highest-grade undeveloped silver projects globally with its flagship Santa Ana asset in Colombia. With 37 million silver equivalent ounces grading over 600 g/t in the current resource, Santa Ana is a true silver play, deriving 75% of its value from the metal.The company is taking an innovative, multi-pronged approach to creating shareholder value. First, aggressive exploration aims to multiply the resource from the current 37 Moz to over 100 Moz silver euivalent. Secondly, Outcrop is looking to develop a small-scale pilot mine to demonstrate the economic and technical viability of the asset while maintaining its exploration upside in the market.CEO Ian Harris emphasized that the exceptionally high-grade nature of Santa Ana, along with the excellent metallurgy, de-links the project from scale and doesn't require that economy of scale to be able to have the margin. Simple flotation recovers over 93% of the silver into a high-grade concentrate, which can be directly smelted to produce saleable silver doré bars without the need for cyanide. This gives Outcrop multiple options to maximize payability.Colombia is shaping up to be an attractive mining jurisdiction with a government eager to encourage development of silver and critical metals projects to diversify from oil and coal. Outcrop's key is strong engagement with local communities, which the pilot mine would foster through training and capacity building.While the current tough market conditions are challenging for junior miners, Outcrop sees a big picture opportunity in silver as solar, EVs, and electrification are expected to be major demand drivers while ongoing economic uncertainty supports silver's safe haven status.In summary, Outcrop Silver & Gold offers investors compelling exposure to a high-grade silver asset being advanced by a highly experienced management team. The company is well-positioned to create value through a hybrid approach of resource expansion and de-risking through a pilot mine. With 75% of the resource value in silver, Outcrop is highly leveraged to a rising silver price environment that appears likely in the coming years based on the macro fundamentals.View Outcrop Silver & Gold's company profile: https://www.cruxinvestor.com/companies/outcrop-silver-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Dan Pace, Chief Geologist, and Hugh Agro, President & CEO of Revival Gold Inc.Our previous interview: https://www.cruxinvestor.com/posts/revival-gold-inc-tsxvrvg-significant-resource-uptick-and-the-road-to-production-by-2028-3901Recording date: 29th February 2024Revival Gold is advancing the Beartrack-Arnett gold project located in Idaho, USA. With an existing resource base of 4.6 million ounces of gold, Beartrack-Arnett represents one of the largest undeveloped gold discoveries made in the western United States over the past decade.Recent exploration drilling by Revival Gold has successfully discovered new high-grade mineralized zones outside of the project's current resource areas. This highlights the strong potential to significantly expand resources through further targeted drilling.Structural modeling and geophysical analysis have outlined high-potential exploration targets across 5 km of untested strike length south of the known deposit. This presents a substantial opportunity to add new discoveries and grow resources along the mineralized trend.The project benefits from excellent surrounding infrastructure in a premier mining jurisdiction, including access to water, power, transportation, and a skilled local workforce. A heap leach pad is already permitted.According to a pre-feasibility study, the project can be developed in phases with low-cost heap leach mining focused on near-surface oxidized ore initially. This provides a clear, low-risk pathway to restart production and cash flow generation.The Revival Gold team is focused on exploring efficient partnerships, joint ventures, and mergers and acquisitions to strengthen its position and supplement internal growth initiatives.With its large gold resource, upside exploration potential, and straightforward path to production start-up, the Beartrack-Arnett project offers investors upside exposure to a potentially world-class gold development asset.View Revival Gold's company profile: https://www.cruxinvestor.com/companies/revival-gold-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Michael Hodgson, CEO of Serabi Gold PLCOur previous interview: https://www.cruxinvestor.com/posts/serabi-gold-lse-srb-on-track-to-double-gold-production-with-no-share-dilution-4190Recording date: 3rd March 2024Serabi Gold (LSE:SRB, TSX:SBI) presents a compelling investment opportunity for those seeking exposure to the gold sector. The company's recent success in renewing its mining license for the Coringa project, combined with its plans to increase production and focus on high-grade ore, positions Serabi Gold for significant growth in the coming years.The successful renewal of its mining license for the Coringa project provides the company with the confidence to move forward with its plans to expand production from 30,000 ounces to 60,000 ounces over the next 18-24 months. To achieve this production growth, Serabi Gold is employing a capital-light approach, focusing on high-grade ore and ore sorting to maximize the efficiency of its existing facilities. This approach allows the company to increase production while minimizing capital expenditure and dilution for shareholders.Central to Serabi Gold's strategy is its focus on high-grade ore. By targeting higher-grade material, the company can improve margins and profitability, even with a relatively small production base. In addition to its focus on the Palito and Coringa projects, Serabi Gold is exploring growth opportunities through its exploration alliance with Vale. This alliance, which focuses on copper and gold prospects, provides Serabi Gold with exposure to potential new discoveries without the need for significant capital investment. The company is also actively exploring satellite deposits around its existing operations intending to identify new resources to support future production growth.Serabi Gold's operations are well-positioned from an environmental, social, and governance (ESG) perspective. The company's underground mines have a small footprint, and the planned transition to hydroelectric power will significantly reduce diesel consumption and improve the company's carbon footprint. With a strong ESG profile, Serabi Gold is well-aligned with the growing demand for sustainable and responsible mining practices.The current macro environment, characterized by economic uncertainty, low interest rates, and potential inflationary pressures, has renewed interest in gold as a safe-haven asset and a hedge against inflation. In this context, junior gold miners like Serabi Gold, which focuses on high-grade, low-cost operations, are well-positioned to benefit from the increased demand for gold and the potential for rising prices._View Serabi Gold's company profile: https://www.cruxinvestor.com/companies/serabi-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Mark Chalmers, President & CEO of Energy Fuels Inc.Our previous interview: https://www.cruxinvestor.com/posts/energy-fuels-amexuuuu-americas-top-uranium-producer-primed-to-capitalize-on-surging-prices-4724Recording date: 2nd March 2024Energy Fuels (AMEX:UUUU) is an integrated uranium and rare earths producer uniquely positioned to capitalize on opportunities in both critical mineral sectors.The company had a breakout year with its uranium business in 2023, generating $100 million in net income after producing over 560,000 pounds of uranium. Energy Fuels is now focused on ramping up output to 1.5-2 million pounds annually at its licensed mines in the U.S. This profitable uranium production provides cash flows to support Energy Fuels’ growth.The White Mesa Mill in Utah gives Energy Fuels flexibility to process uranium from its own operations and third-party producers. Buying agreements and toll milling contracts allow the company to optimize feed for the mill and lower costs. As uranium prices rise amid growing nuclear power demand, this operating leverage offers profits.Energy Fuels also has substantial rare earths upside. While uranium prices are high, rare earths prices have fallen dramatically. This creates an opportunity for Energy Fuels to acquire undervalued rare earths projects and assets. The company’s strong balance sheet, with over $250 million in cash, gives it firepower for acquisitions.Energy Fuels is on track to complete its rare earth separation facility at White Mesa Mill. This will further boost its integrated rare earths capabilities, helping offset pricing risks. When rare earth prices eventually rebound, Energy Fuels will be primed to benefit.With diversified critical mineral production and assets, technical expertise, and financial strength, Energy Fuels is in an enviable position relative to mining peers. As decarbonization accelerates demand for uranium and rare earths, Energy Fuels offers unique exposure supported by real assets and cash flows._Energy Fuels' company profile: https://www.cruxinvestor.com/companies/energy-fuelsSign up for Crux Investor: https://cruxinvestor.com

Interview with Thomas Lamb, CEO of Myriad UraniumOur previous interview: https://www.cruxinvestor.com/posts/myriad-uraniums-forgotten-uranium-deposits-offer-substantial-potentialRecording date: 4th March 2024Myriad Uranium offers investors a compelling opportunity to gain exposure to the strengthening uranium market through its prospective projects in Niger and the United States.The company's flagship asset is the Copper Mountain project in Wyoming, acquired in 2022. Extensive historical work by Union Pacific in the 1970s identified six uranium deposits with an estimated 15-30 million pounds of resources, as well as an exploration target of over 63 million pounds across two of the deposits. Importantly, recent analysis by Myriad has identified high-grade zones that were largely overlooked in the historical estimates, with grades up to 0.3% U3O8. These high-grade areas could drive a significant increase in the project's value.Myriad CEO Thomas Lamb commented, "There's high grade there - instead of 200 to 600 parts per million (ppm), there's thousand ppm up to 3,000 ppm if you focus on the veins." The company is working to bring the historical estimates up to current standards, with a focus on delineating the high-grade mineralization.In addition to the known resources, Copper Mountain offers substantial exploration upside. Myriad plans to aggressively drill the project to expand the resource base. The extensive historical database will allow for rapid and cost-effective advancement of the project towards development.While Copper Mountain is the near-term focus, Myriad also holds a significant land position in Niger, Africa's top uranium-producing nation. The company's 1,800 square kilometer portfolio is located in the heart of the Tim Mersoi Basin, home to some of the world's largest and highest-grade uranium deposits. These projects provide long-term optionality on a world-class uranium district as Niger's political situation stabilizes following a coup in 2023.The outlook for the uranium industry is robust, driven by growing demand for carbon-free baseload power and supply constraints caused by years of underinvestment. Utilities are increasingly looking to secure long-term supply contracts, but are finding a lack of shovel-ready projects to fill their needs. This is creating a widening structural deficit in the uranium market, which should put continued upward pressure on prices.Myriad is well-positioned to capitalize on the uranium bull market. With a market cap of just C$12 million, the company is significantly undervalued based on the potential of its assets. The combination of near-term production potential at Copper Mountain and long-term optionality in Niger makes Myriad a unique investment opportunity in the uranium space. As the company advances its projects and the uranium price continues to rise, Myriad has the potential to deliver substantial returns for shareholders.—Learn more: https://cruxinvestor.com/companies/myriad-uraniumSign 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-high-quality-revenue-generating-4929Recording date: 3rd March 2024Elemental Altus Royalties (TSXV:ELE) offers investors a compelling opportunity to gain exposure to precious metals and copper through a diversified portfolio of cash-flowing royalties. The company recently reported record revenue of $17.8 million for 2023, marking its sixth consecutive year of record results.The strong performance is underpinned by high-quality royalties on long-life assets like the Karlawinda gold mine in Australia and the Caserones copper mine in Chile. These royalties not only deliver cash flow but also offer significant exploration and expansion upside.With over $30 million of available liquidity, Elemental Altus is well-positioned to continue acquiring new royalties and streams at attractive valuations. CFO David Baker highlighted the company's flexible approach, spanning from early-stage exploration assets to producing mines. By prioritizing asset quality and management strength, Elemental Altus has demonstrated an ability to source accretive deals at discounts to net asset value.Elemental Altus presents a unique investment opportunity in the junior royalty space with a proven business model, a portfolio of high-quality cash-flowing assets, and significant dry powder for new deals. As capital remains constrained for operators and developers, the company is well-positioned to continue sourcing accretive growth opportunities and driving per-share value. With a proven track record, a robust growth pipeline, and a committed management team, the company is well-positioned to deliver attractive returns in 2024 and beyond._View Elemental Altus Royalties' company profile: https://www.cruxinvestor.com/companies/elemental-altus-royaltiesSign up for Crux Investor: https://cruxinvestor.com

Interview with Elaine Ellingham, President & CEO of Omai Gold Mines Corp.Our previous interview: https://www.cruxinvestor.com/posts/omai-gold-mines-tsxvomg-reigniting-a-gold-mine-giant-4749Recording date: 2nd March 2024Omai Gold Mines offers investors exposure to restarting production at a historic gold mine in the mining-friendly jurisdiction of Guyana. The company's flagship Omai project was a large-scale producer from 1993-2005, churning out over 3.7 million ounces of gold from open pit and underground mines.Shuttered since 2005, extensive infrastructure remains in place, including a camp, access roads, and power. Omai has completed feasibility-level engineering and mining studies on the asset, providing a strong technical foundation.The project hosts robust resources, with a recently updated estimate outlining 1.9 million ounces indicated grading 1.48 g/t gold and 0.5 million ounces inferred grading 1.99 g/t gold. Additional exploration upside exists, as mineralization remains open along a 2.5 km shear zone.Omai is led by an experienced mining team focused on restarting production, beginning with open pit mining to generate early cash flows. A PEA study is upcoming. The Guyanese government is supportive of redevelopment efforts given the previous economic benefits of the mine.With its permitted, past-producing project, existing infrastructure, and exploration upside, Omai offers investors exposure to reactivating a high-grade gold mine with compelling economics. As feasibility studies advance, Omai's systematic de-risking of the project could yield substantial shareholder value._View Omai Gold Mines' company overview: https://www.cruxinvestor.com/companies/omai-gold-minesSign up for Crux Investor: https://cruxinvestor.com

Interview with George Ogilvie, President & CEO of Arizona Sonoran Copper Company Inc.Our previous interview: https://www.cruxinvestor.com/posts/arizona-sonoran-tsxascu-more-copper-in-new-resource-update-pfs-coming-soon-4250Arizona Sonoran is rapidly advancing the Cactus Mine project in Arizona to capitalize on forecast copper supply deficits within the next few years.ASCU President George Ogilvie outlined plans to reach commercial production at the historic brownfield site in 3-4 years. A recently completed Pre-Feasibility Study models a 21-year mine life producing 55,000 tonnes of copper cathode annually. This doubles the outdated 2019 Preliminary Economic Assessment's 28,000 tonne per year plan, reflecting resource expansion.The PFS generates robust economics at a $3.80/lb copper price, including a $665M NPV and 15.3% IRR with a 2.4 year payback. The $515M initial capex ranks at the low end globally, enhancing the project's advantage versus competing copper projects requiring intensive capital.Beyond the base case, Arizona Sonoran is testing a proprietary leaching technology (called "Newton") to boost the recovery of copper sulfides. This could significantly increase production at a fractional capital cost uplift. Initial tests suggest Newton could achieve 70-85% recovery from sulfide minerals versus nil in the base case.ASCU also has a partnership with Rio Tinto funding Newton's optimization. This provides $33M upfront to ASCU plus the option for Rio to earn a 40% project interest on favorable, non-dilutive terms. The structure drastically reduces ASCU's equity needs and facilitates debt financing.With analysts widely forecasting large copper deficits emerging within 2-3 years as electrification drives demand higher, ASCU is positioned to capitalize on the pending supply-demand imbalance. As copper prices rise, the project's strong fundamentals and leverage to higher prices make it an attractive copper investment.—View Arizona Sonoran's company profile: https://www.cruxinvestor.com/companies/arizona-sonoranSign up for Crux Investor: https://cruxinvestor.com

Interview with Shane Williams, President & CEO of West Red Lake Gold MinesRecording date: 29th February 2024West Red Lake Gold Mines acquired Pure Gold Red Lake mine out of creditor protection for $65 million, a substantial discount to over $350 million spent by the prior owner. This distressed valuation reflects past challenges but provides opportunity for WRLG's experienced leadership to revitalize the asset.Located in Ontario's Red Lake district, the project benefits from extensive existing infrastructure, including an operational mill and underground mine. However, the previous owner faced high debt levels and pressure for rapid production. Insufficient investment in drilling and orebody knowledge resulted in difficulties.The plan is to first spend 12-15 months on extensive underground drilling and development. Around 50,000 meters of tight-spaced drilling will improve geological knowledge and mine planning. This will allow optimization of stope dimensions, mining methods, and scheduling tailored to the orebody's characteristics. Updated feasibility studies incorporating the new drilling will guide economically viable mine plans.Sprott's investment and involvement in converting debt to equity provides confidence. The project's infrastructure, existing development and location in a gold-rich district support upside potential. For risk-tolerant investors, WRLG represents a promising turnaround story in a historic gold jurisdiction. The systematic approach could unlock substantial value from an asset acquired at a fraction of its replacement cost.View West Red Lake Gold Mine's company profile: https://www.cruxinvestor.com/companies/west-red-lake-gold-mines-incSign up for Crux Investor: https://cruxinvestor.com