Company Interviews

Interview with Siobhan Lancaster, CEO/MD of 92 Energy Ltd.Our previous interview: https://www.cruxinvestor.com/posts/92-energy-asx92e-parallel-zone-discovery-hints-at-further-significant-uranium-resource-4065Recording date: 11th October 2023We're glad to have Siobhan Lancaster again this time to discuss the global demand for uranium. Siobhan provides an overview of where current nuclear power production comes from, with the US as the largest producer followed by China and France, and notes that most major nuclear power producers are not significant uranium suppliers themselves.Factors driving increased demand for nuclear power are discussed, including energy security, affordability compared to alternatives like gas, small footprint, and new small modular reactor (SMR) technologies. They examine nuclear growth forecasts, arguing the World Nuclear Association's projections are conservative given the potential for rapid SMR adoption. Key countries covered include the US, which has bipartisan support for extending the lifespan of reactors and developing SMRs; China, which plans to greatly expand its reactor fleet; Japan, restarting reactors post-Fukushima; and new entrants like Saudi Arabia.Siobhan concludes that nuclear demand is likely to exceed forecasts and highlights the crucial significance of uranium within the context of nuclear energy.View 92 Energy Company Profile: https://www.cruxinvestor.com/companies/92-energySign up for Crux Investor: https://cruxinvestor.com

Interview with Mark Selby, CEO of Canada Nickel (TSXV: CNC)Our previous interview: https://youtu.be/5hS7udi1JYkRecording date: 12th October 2023Canada Nickel Company recently completed a feasibility study on its flagship Crawford nickel-cobalt sulfide project located in Ontario, Canada. We caught up with Mark Selby to discuss the FS and how the results demonstrate the potential for Crawford to become a large-scale, low-cost nickel mine.Highlights from the feasibility study include:- An after-tax net present value (NPV) of US$2.5 billion using an 8% discount rate. This increases to US$2.6 billion when factoring in expected carbon capture tax credits.- An after-tax internal rate of return (IRR) of 17.1% that improves to 18.3% with carbon capture credits.- Initial capital costs estimated at US$1.7 billion to support a 120,000 tonnes per day operation.- A 41-year mine life with average annual production of 38,000 tonnes of nickel, 67,000 tonnes of chromium, 1.4 million tonnes of iron and 1.3 million tonnes of carbon captured.- Life-of-mine C1 cash costs of US$0.39 per pound of nickel produced.- Life-of-mine all-in sustaining costs estimated at US$1.54 per pound of nickel.- Average annual EBITDA of US$811 million and free cash flow of US$546 million.- The feasibility study confirms Crawford as one of the world's largest nickel reserves and resources. - The project is expected to benefit from carbon capture tax credits given its large-scale carbon sequestration plans.Canada Nickel has also consolidated a district-scale land package around Crawford with over 20 nickel exploration targets identified. The potential exists to develop multiple large nickel mines in the Timmins region leveraging central infrastructure.Learn more: https://cruxinvestor.com

Interview with Phil Williams, CEO of Consolidated Uranium Inc.Our previous interview: https://www.cruxinvestor.com/posts/what-the-isoenergy-and-consolidated-uranium-merger-means-for-investors-4045Recording date: 10th October 2023Consolidated Uranium Inc. (TSX-V: CUR, OTCQB: CURUF) is a global uranium company focused on becoming a multi-asset, multi-jurisdictional uranium producer. The company currently has uranium projects in Canada, Australia, the United States and Argentina. Consolidated Uranium recently announced a merger with IsoEnergy Ltd (TSX-V: ISO).Consolidated Uranium's current portfolio includes past producing uranium mines in Utah and Colorado in the United States that could potentially restart production within 6-12 months at today's uranium prices. Based on historic production rates, these mines could produce 1-1.25 million pounds of uranium annually.The keystone asset from the IsoEnergy merger is the high-grade Hurricane uranium project in the Athabasca Basin region of Saskatchewan, Canada. Hurricane has indicated mineral resources of 48.61 million pounds U3O8 grading 34.5% and inferred mineral resources of 2.66 million pounds grading 2.2%. While permitting and development timelines could be lengthy, the extremely high grades at Hurricane offer tremendous upside potential at higher uranium prices.With uranium prices showing strength in 2023, Consolidated Uranium offers investors potential near-term production from its US assets to complement the longer-term upside potential of its global project pipeline.View Consolidated Uranium's Company Profile: https://www.cruxinvestor.com/companies/consolidated-uraniumSign 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-gtwo-drilling-out-a-high-grade-large-gold-camp-in-guyana-3258Recording date: 10th October 2023G2 Goldfields Inc. (TSXV: GTWO) is a junior gold exploration and development company focused on the Guyana Shield in South America. The company's flagship asset is the 19,200-acre OKO project located in Guyana. OKO contains multiple zones of gold mineralization including the Oko Main Zone (OMZ) and Ghanie Zone.Recent drilling by G2 has intersected high-grade gold at the OMZ, with results including 6.7 meters grading 32 g/t Au with samples returning over 10.0 g/t gold when analysed utilizing standard fire assay gravimetric methods. The company is tracing these high-grade shoots to depth through ongoing drilling. The Ghanie Zone has also been expanded, with a 64.5 meter interval grading 1.3 g/t Au and contains an inferred mineral resource of 719,000 oz gold equivalent. As a well-funded junior explorer, G2 Goldfields offers leverage to increasing gold prices and resource expansion through exploration upside. Upcoming potential catalysts include further drill results from OMZ and Ghanie, as well as an updated resource estimate. The OKO project provides G2 with a potential path towards gold production in the future.View G2 Goldfields Company Profile: https://www.cruxinvestor.com/companies/g2-goldfieldsSign 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-lsesrb-a-deep-dive-into-cost-savings-improved-cash-generation-in-2023-3767Recording date: 9th October 2023Serabi Gold plc (LSE: SRB, TSX: SBI) is a gold mining and exploration company focused on Brazil. The company operates the high-grade Palito underground gold mine in the Tapajós region of northern Brazil, as well as the Coringa gold project located nearby.In 2022, the company produced 32,000 ounces of gold. Serabi Gold expects to produce between 33,500-35,000 ounces in 2023.The company is advancing development of its Coringa project, located 200km south of Palito. Coringa has a resource of 195,000 ounces of gold in the measured and indicated category at a grade of 8.2 g/t gold. Coringa is expected to significantly increase Serabi's production profile once permitted and developed over the next few years.Serabi Gold sees exploration potential to expand resources at its current operations and make new discoveries within its extensive land holdings in the Tapajós region. The company has an exploration alliance with Vale to fund drilling of bulk tonnage exploration targets.Key investment highlights for Serabi Gold include consistent production from Palito and Sao Chico, resource growth potential, exploration upside in an underexplored district, and potential re-rating as Coringa doubles production. Near-term catalysts are the final permitting of Coringa, expanding production through optimized mining, and exploration results from drill programs underway.View Serabi Gold's Company Profile: https://www.cruxinvestor.com/companies/serabi-goldSign up for Crux Investor: https://cruxinvestor.com

Recording date: 6th October 2023Previous Energy Show with Brandon Munro: https://www.cruxinvestor.com/posts/how-namibia-uranium-benefits-from-off-shore-oil-discovery-3784What’s been happening?Since our last energy show recording on 31 August, uranium spot has appreciated from $61.35 to $70/lb. The market is closely watching the softening over the last two sessions after spot hit $73. Will the market pause around $70/lb or is this simply a profit taking ledge on a steep climb upwards?Kazatomprom has announced their 2025 production plan. We examine the specifics of their announcement, the profit taking that followed and answer what it really means.We have a tie this week between 92 Energy & Constellation Energy for Winner of the Week - watch to find out why, and also discuss Bungle of the week from South Korea where data has shown their nuclear phase out policy generated near $7 billion loss from the delayed commissioning of the two units at the Shin-Hanul plant alone. Fortunately, the industrious South Koreans have already redeemed themselves as the current government aims to nurture 60 nuclear exporters. We attempt to answer "what does it mean for uranium now that France is pulling out of Niger?"And also cover SPUT’s contemplation of a limited redemption mechanism and whether that will have a significant impact on uranium market fundamentals: could it really open the uranium floodgates? Will we see utilities buying uranium directly from SPUT, instead of producers? Learn more: https://cruxinvestor.com

Interview with Alan Pangbourne, President & CEO of Chesapeake Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/chesapeake-gold-corp-tsxvckg-pioneering-faster-oxidation-processes-in-gold-recovery-3850Recording date: 4th October 2023Chesapeake Gold Corp (TSX.V: CKG, OTCQX: CHPGF) is a gold and silver exploration and development company focused on advancing its 100% owned Metates project located in Durango State, Mexico. Metates is one of the largest undeveloped gold and silver deposits in the world with measured and indicated resources of 16.8 million ounces of gold and 423 million ounces of silver. In addition, there are inferred resources of 2.1 million ounces of gold and 59 million ounces of silver.The Metates project consists of intrusive and intrusive breccia hosted mineralization amenable to sulphide heap leach processing. A 2021 preliminary economic assessment on a 15,000 tonne per day Phase 1 starter heap leach operation outlines strong project economics including an after-tax NPV of C$1.9 billion and IRR of 31% at base case metal prices. Average annual gold-silver equivalent production is forecast at 147,000 ounces over a 31 year mine life. The starter project requires an initial capital cost of only US$359 million and has an all-in sustaining cost of US$749 per ounce.Chesapeake is focused on further metallurgical test work in 2023 aimed at improving leach kinetics and oxidization rates. This is expected to improve overall gold and silver recoveries and enhance project economics. The company is well funded with approximately C$24mm in treasury and major shareholders including Eric Sprott control over 40% of the shares outstanding. Chesapeake offers investors excellent leverage to higher gold and silver prices and significant valuation upside compared to peers. Upcoming potential catalysts are the results of ongoing metallurgical studies and an updated prefeasibility study.View Chesapeake Gold's Company Profile: https://www.cruxinvestor.com/companies/chesapeake-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Glenn Jessome, President & CEO of Silver Tiger Metals Inc.Our previous interview: https://www.cruxinvestor.com/posts/silver-tiger-metals-slvr-outstanding-high-grade-silver-resultsRecording date: 4th October 2023Silver Tiger Metals Inc. (TSXV:SLVR) is a junior mineral exploration company focused on advancing its flagship El Tigre silver-gold project located in Sonora, Mexico. The El Tigre property covers 53,284 hectares and historically was one of the richest high-grade silver districts in Mexico.Recent drilling by Silver Tiger has intersected high-grade mineralization in areas never before drilled at El Tigre, including broad intercepts of gold and silver in the near surface Sooy vein. Highlights from this vein include 9.3m grading 4.65 g/t gold and 1,877 g/t silver starting at 36.6m downhole.The company's current indicated resource estimate for El Tigre stands at 18 million ounces of silver and 443,000 ounces of gold contained within 26.8 million tonnes grading 21 g/t silver and 0.51 g/t gold. Additional inferred resources contain 19 million ounces of silver and 112,000 ounces of gold.Ongoing exploration drilling and resource expansion continues across the expansive property targeting extensions of historically mined veins and new discoveries. Upcoming catalysts include initial economic studies examining potential restart of mining operations at El Tigre.With proven high grades and significant exploration upside, Silver Tiger Metals offers exposure to potential re-development of a historically prolific Mexican silver-gold mine with minimal current valuation. The company's experienced management team is focused on elevating El Tigre into its next phase of production.View Silver Tiger Metal's Company Profile: https://www.cruxinvestor.com/companies/silver-tiger-metalsSign up for Crux Investor: https://cruxinvestor.com

Interview with Alex Underwood, MD & CEO of Empire Energy Group Ltd.Our previous interview: https://www.cruxinvestor.com/posts/empire-energy-asxeeg-pilot-study-advancing-as-resource-grows-3312Recording date: 4th October 2023Empire Energy Group Limited (ASX: EEG) is an oil and gas exploration and production company focused on the development of the Beetaloo Sub-basin in Australia's Northern Territory. The company holds a large acreage position across the basin, with contingent resources of 1,906 petajoules (PJ) of gas and 3.5 million barrels of liquids.Empire's key project is the Carpentaria play in the eastern part of the Beetaloo basin, where the company has drilled 4 wells that have successfully flowed gas. Carpentaria has a 2C contingent resource of 1,739 PJ of gas and a prospective resource of over 3,500 PJ. Empire is moving towards pilot production at Carpentaria, targeting first gas in 2024.In the western Beetaloo basin, Empire holds over 1 million acres with prospective resources of 28,000 PJ. The company plans further seismic and drilling to appraise this large position.The Beetaloo basin is considered one of the most promising shale gas basins globally, with over 500 trillion cubic feet of gas in place according to government estimates. Empire is well positioned in the basin and is advancing development plans to supply domestic and export markets. With a large resource base, progressing field development, and upcoming pilot production, Empire offers significant upside potential for investors.View Empire Energy's Company Profile: https://www.cruxinvestor.com/companies/empire-energy-group

Interview with Ben Pullinger, Senior VP Exploration of ATEX Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/atex-resources-tsxvatx-20m-for-continued-drilling-on-high-grade-gold-3337Recording date: 4th October 2023ATEX Resources Inc. (TSXV: ATX) is a Chilean focused exploration company advancing the Valeriano Copper-Gold Porphyry Project located 151 km southeast of the city of Vallenar. The Valeriano project is targeting copper and gold mineralization and sits within an emerging copper-gold porphyry belt referred to as the 'Link Belt'.ATEX recently announced a significant inferred resource at Valeriano containing 1.41 billion tonnes grading 0.67% CuEq (0.5% Cu, 0.2 g/t Au, 0.96 g/t Ag and 64 g/t Mo) based on a 0.4% Cu cut-off. The high grade core within the central trend contains approximately 200 million tonnes grading 0.84% CuEq.The Phase III drill program was successful in expanding the known extents of the Valeriano porphyry system and also led to the discovery of a second high-grade porphyry trend called the Western Trend. The mineralized corridor and high-grade trends remain open for further expansion.ATEX is advancing to a Phase IV drill program in Q4 2022 targeting between 20,000 to 25,000 metres to further grow the deposit. Key upcoming catalysts include final assay results from Phase III, metallurgical test work results, and the commencement of Phase IV drilling.The investment case for ATEX Resources is driven by the significant exploration upside at Valeriano to further expand the deposit. The project is emerging as a potential top 10 copper development project globally. ATEX is well funded having recently completed a $15 million credit facility to support ongoing exploration and development studies.View ATEX Resources Inc.'s Company Profile: https://www.cruxinvestor.com/companies/atex-resources-inc

Interview with Iggy Tan, MD of Altech Batteries LtdOur previous interview: https://www.cruxinvestor.com/posts/altech-batteries-atc-german-grid-storage-batteries-continue-to-advance-3249Recording date: 3rd October 2023Altech Batteries Ltd is a specialty battery company with operations in Australia and Germany. Altech has a joint venture with Fraunhofer IKTS, a German battery research institute, to commercialize CERENERGY® sodium chloride solid state batteries. CERENERGY® batteries are explosion-proof with a 15+ year lifespan. The joint venture plans a 100MWh production facility in Saxony, Germany to produce 1,000 1MWh battery GridPacks annually.Altech also has a majority stake in Altech Industries Germany GmbH, conducting a feasibility study for a 10,000 tonne per annum silicon/graphite anode coating plant in Saxony. The plant would produce Altech's patented Silumina AnodesTM for the European electric vehicle market. Silumina AnodesTM increase battery energy density 30% over conventional lithium-ion batteries.Additionally, Altech aims to produce 4N high purity alumina through a 4,500 tonne per annum processing plant in Johor, Malaysia. Feedstock will come from Altech's kaolin deposit in Western Australia. The project has completed initial construction and has financing approved from KfW IPEX-Bank.Altech is securing additional project finance through potential partners and green bonds to fully fund the Malaysia high purity alumina project.View Altech Batteries' Company Profile: https://www.cruxinvestor.com/companies/altech-batteries

Interview with Ben Turney, CEO & David Catterall, Geologist at Kavango Resources (LSE: KAV)Our previous interview: https://youtu.be/-DAIik6AdSMRecording date: 29th September 2023Kavango Resources, a metals exploration company targeting copper in Botswana and gold in Zimbabwe, recently provided an update on its strategy, exploration progress, and plans to fund ongoing programs. The company aims to demonstrate exploration success and unlock value across its diversified project portfolio.CEO Ben Turney and Exploration Manager Dave Catterall described how the company has pivoted to new opportunities in Zimbabwe, while applying lessons learned to refine its copper exploration efforts in Botswana.Turney explained that Kavango moved into Zimbabwe over the past year to capitalize on underexplored, high grade gold opportunities around historic mines. Unlike Kavango's early-stage copper exploration projects obscured by sand cover in Botswana, Zimbabwe offers outcropping gold mineralization that can be rapidly advanced. Kavango plans to start drilling at its first Zimbabwe project in October, aiming to prove up near-surface, bulk minable deposits.At the same time, Kavango has consolidated prospective ground positions along strike from Sandfire's Motheo copper deposit in Botswana. While past drilling efforts at its Kalahari Suture Zone project were unsuccessful, the company has now shifted focus to the Karakubis project area with less sand cover.Catterall explained that geophysics and field mapping have better defined copper targets concealed by thin cover that can be drill tested. Kavango aims to refine additional targets across its expanded ground position, with the goal of drilling priority targets starting in early 2024. By proving up mineralization, Kavango aims to demonstrate prospectivity that could attract partners or acquirers.To fund these exploration efforts, Kavango has secured over £5 million in new capital. Turney explained Kavango has taken an unconventional fundraising approach, engaging directly with investors like major new backer Pure Bonds. This has positioned Kavango strongly compared to peers struggling to raise capital in current markets.With its strengthened cash position, Kavango is funded to advance exploration programs in both Botswana and Zimbabwe through 2024. The company can also accelerate efforts if initial results are promising. While progress has been slow to date, Kavango is confident its revised strategy and strengthened funding position will enable it to demonstrate exploration success.In summary, Kavango Resources has an expanded portfolio spanning copper and gold opportunities in two African countries. The company has shifted its copper focus in Botswana to apply lessons learned, while seizing the chance to rapidly advance new high grade gold projects in Zimbabwe. With a strengthened cash position, Kavango can fund accelerated exploration efforts as warranted by results.The company's experienced leadership team aims to systematically advance projects to unlock value for shareholders. Near-term drilling in Zimbabwe offers potential catalysts for re-rating, while copper exploration progress in Botswana could attract partners. After methodically assembling the ingredients, Kavango now aims to demonstrate effective exploration programs and deliver geological success.—Learn more: https://cruxinvestor.com/companies/kavango-resourcesSign up for Crux Investor: https://cruxinvestor.co

Interview with Marc-Andre Pelletier, President & CEO of Bonterra Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/bonterra-resources-tsxvbtr-unlocking-value-in-high-grade-gold-camp-3914Recording date: 28th September 2023Bonterra Resources Inc. (TSX-V: BTR, OTCQX: BONXF, FSE: 9BR2) is a Canadian gold exploration and development company focused on advancing its projects in Quebec's Urban-Barry mining camp. Bonterra's main assets include the Gladiator, Barry and Bachelor-Desmaraisville projects, which together host over 3 million ounces of gold resources. The flagship Gladiator project contains 391,000 ounces of gold at 8.61 g/t in the Measured and Indicated category and 989,000 ounces at 7.37 g/t Inferred. The Barry project hosts 165,000 ounces at 2.68 g/t open pit and 524,000 ounces at 5.12 g/t underground in the Measured and Indicated category, with 688,000 ounces at 4.90 g/t Inferred underground. The Bachelor-Desmaraisville project contains 160,000 ounces at 5.58 g/t in the Measured and Indicated category and 104,000 ounces at 5.31 g/t Inferred.Bonterra is focused on advancing its Barry open pit project to production first given its robust economics outlined in a 2022 Preliminary Economic Assessment ("PEA"). The PEA considers an 800 tonne per day operation with average annual production of 51,000 ounces over a 7 year mine life. At a gold price of $1,600/oz, the Barry open pit project demonstrates an after-tax NPV of C$140 million and an IRR of 37% with a 1.6 year payback period.Bonterra continues to explore regional targets through its extensive land package to make new discoveries and build on its resource base. The company recently announced a C$30 million exploration earn-in agreement with Osisko Mining on its Urban-Barry property and adjoining claims. This partnership will accelerate exploration activities across the highly prospective Urban-Barry camp.With its substantial gold resources, existing mill infrastructure, and strategic partnerships, Bonterra Resources is well positioned to continue advancing its portfolio of assets in Quebec to create value for shareholders. The near-term focus remains on de-risking Barry to a construction decision while also testing exploration targets that could drive further growth.View Bonterra Resources' Company Profile: https://www.cruxinvestor.com/companies/bonterra-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Rob Edwards, Executive Chairman of Bluejay Mining PLCRecording date: 28th September 2023With multiple projects in Greenland and Finland, Bluejay Mining (LSE:JAY) offers both portfolio and commodity diversification focused on base and precious metals in Tier 1 jurisdictions.Bluejay, through its wholly owned subsidiary Disko Exploration Ltd., has signed a definitive Joint Venture Agreement with KoBold Metals to guide exploration for new deposits rich in the critical materials required for the green energy transition and electric vehicles (the Disko-Nuussuaq nickel-copper-cobalt-PGE Project).Disko Exploration Ltd holds two additional projects in Greenland - the 692 sq km Kangerluarsuk zinc-lead- silver project, where historical work has recovered grades of up to 45.4% zinc, 9.3% lead and 596 g/t silver; and the 920 sq km Thunderstone project which has the potential to host large-scale base metal and gold deposits. Bluejay also owns 100% of the fully permitted Dundas Ilmenite Project under its subsidiary Dundas Titanium A/S in northwest Greenland for which it will seek strategic alternatives. In Finland, Bluejay currently holds three large scale multi-metal projects through its wholly owned subsidiary FinnAust Mining Finland Oy. The Company has identified multiple drill ready targets at the Enonkoski nickel-copper-cobalt project in East Finland. Bluejay's Hammaslahti copper-zinc-gold-silver project hosts high-grade VMS mineralisation and extensions of historical ore lodes have been proven. The drill ready Outokumpu copper-nickel-cobalt-zinc-gold-silver project is located in a prolific geological belt that hosts several high-grade former mines. In August 2023, Bluejay successfully divested its Black Schist Projects in Finland to Metals One plc in a transaction worth £4.125 million (Bluejay currently owns c. 29% of the issued ordinary share capital of AIM listed Metals One plc).Learn more: https://cruxinvestor.com

Interview with Siobhan Lancaster, CEO/MD of 92 Energy Ltd.Our previous interview: https://www.cruxinvestor.com/posts/92-energy-92e-uranium-explorer-onto-something-big-2966Recording date: 29th September 202392 Energy Ltd (ASX: 92E) is an Australian uranium exploration company targeting high-grade unconformity-associated uranium deposits in the Athabasca Basin of Saskatchewan, Canada. The company currently holds 100% interest in seven uranium projects across 58 mineral claims in this prolific uranium district.92 Energy's flagship project is the Gemini Uranium Discovery, where the company made a near-surface, basement-hosted uranium discovery starting at just 60m vertically below surface and extending down to 270m. High-grade intersections from Gemini include 43m at 0.62% U3O8 and 5m at 1.47% U3O8, including 0.5m at 9.66% U3O8. Mineralization at Gemini remains open in all directions with significant expansion potential along the 2.8km mineralized trend.An upcoming 4,000m drill program at Gemini aims to expand the known high-grade zones and test newly identified mineralization 285m north of the discovery area. Other prospective projects for 92 Energy include Tower, located just 10km from the world-class Cigar Lake uranium mine, and Wares, which has historical drill results of 0.18% U3O8 over 0.1m and is considered an analog to the high-grade Roughrider and Hurricane discoveries.The company offers investors exposure to high-grade uranium discoveries in a premier jurisdiction at an early stage. With a market capitalization of $32 million, upcoming drilling at Gemini and a portfolio of prospective projects, 92 Energy is well-positioned to create significant value for shareholders through new uranium discoveries in the Athabasca Basin.View 92 Energy's Company Profile: https://www.cruxinvestor.com/companies/92-energy

Interview with David Cataford, CEO of Champion Iron LtdOur previous interview: https://www.cruxinvestor.com/posts/champion-iron-cia-premium-iron-ore-with-spare-logistics-capacity-2965Recording date: 27th September 2023Here is a draft company introduction for Champion Iron using the attached files:Champion Iron Limited (TSX: CIA) is an iron ore production and exploration company focused on the mining and development of high-grade iron ore projects in the Labrador Trough region of eastern Canada. The company's main asset is the Bloom Lake iron ore mine located near Fermont, Quebec. Bloom Lake is a long-life asset with approximately 20 years of mine life remaining and estimated reserves of 807 million tonnes grading 29.0% iron. In the fiscal year 2923, Champion Iron produced 11.2 million tonnes of iron ore concentrate from Bloom Lake with an average grade of 66.2% iron. The company has a nameplate capacity of 15 million tonnes per year across two production lines, and is targeting an expansion to 20 million tonnes per year in the coming years.Champion Iron is focused on producing a very high-purity iron ore concentrate to supply the electric arc furnace steelmaking market. This type of iron ore attracts premium pricing given its low impurities which aid cleaner steel production. The company also owns the Fire Lake North iron ore project located adjacent to Bloom Lake which has potential to add an additional 7-10 million tonnes per year of production.With its high-grade iron ore assets located in a stable mining jurisdiction, Champion Iron is positioned to benefit from rising demand for high-purity iron ore to enable low-emission steel manufacturing. The company offers investors exposure to the steel value chain and decarbonization thematic as the world transitions to greener steel production methods.View Champion Iron's Company Profile: https://www.cruxinvestor.com/companies/champion-iron-limited

Interview with Stephen Swatton, CEO of CopperCorp Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/coppercorp-resources-cper-high-grade-copper-rare-earths-in-tasmania-3225Recording date: 27th September 2023CopperCorp Resources Inc. (TSXV: CPER, OTCQB: CPCPF) is a Canadian mineral exploration company focused on discovering large copper-gold deposits in western Tasmania, Australia. The company has a strategic land package covering over 1,500 km2 along trend from the world-class Mount Lyell copper-gold mine.CopperCorp's flagship project is the Skyline Project, comprising three exploration licenses covering 504 km2. The project includes the advanced high-grade Darwin Cu-Au-REE prospect, part of the recently granted Razorback license. Historical drilling at Darwin intercepted 30m at 2.1% TREO and 13m at 1.2% copper and 0.45 g/t gold. The Skyline Project is considered prospective for IOCG and porphyry-related copper-gold mineralization.The company's AMC Project, located 10km north of Skyline, contains the advanced Alpine copper prospect with an indicated mineral resource of 4.4Mt at 0.41% copper. The project also hosts the Jasper Hills prospect, where high-grade rock samples returned up to 16.5% copper and 10.1 g/t gold. Over 20 regional IOCG targets have been identified within the AMC Project's 1,066 km2 land package.With a strong technical team and over $5M in working capital, CopperCorp is fully funded to continue aggressive exploration across its strategic Tasmanian land holdings. Upcoming work includes further drilling at Alpine and maiden drilling at the Razorback REE-copper targets. The company offers leverage to new copper-gold discoveries in an established mining jurisdiction with renewable hydro-power.View Copper Corp's Company Profile: https://www.cruxinvestor.com/companies/coppercorp-inc

Interview with Johan Odendaal, Non-independent Non-executive Director & MD of Southern Palladium Ltd.Our previous interview: https://www.cruxinvestor.com/posts/southern-palladium-spd-17m-for-2023-drill-programme-for-upgraded-resource-2822Recording date: 27th September 2023Southern Palladium Limited (Southern Palladium) is a mineral exploration company dual-listed on the Australian Securities Exchange (ASX code: SPD) and the Johannesburg Stock Exchange (JSE code: SDL). The company's primary asset is its 70% interest in the Bengwenyama Platinum Group Metal (PGM) project located on the Eastern Limb of the Bushveld Complex in South Africa's Limpopo Province.The Bengwenyama project contains resources of 25.12 million ounces of platinum group metals (PGMs) plus gold, comprising platinum, palladium, rhodium, gold, iridium, osmium and ruthenium. The project includes the UG2 and Merensky reefs with the majority of resources located in the UG2 reef. The project has a total resource of 149.3 million tonnes at a grade of 4.48g/t 4E PGM+gold.Southern Palladium commenced drilling at Bengwenyama in August 2022 after raising A$19 million in its June 2022 initial public offering (IPO). Drilling results to date have led to a 34% increase in resources to 25.12 million ounces. The company is targeting completion of a pre-feasibility study in 2023 to support a mining right application and initial production by 2025.With its large, shallow PGM resource situated between tier 1 PGM mines, Southern Palladium offers exposure to PGMs critical for emissions control and the green economy. The company aims to rapidly advance the pre-development Bengwenyama project towards production to capitalize on strong PGM market fundamentals.View Southern Palladium's Company Profile: https://www.cruxinvestor.com/companies/southern-palladium

Interview with John Jentz, CEO of Latitude UraniumOur previous interview: https://www.cruxinvestor.com/posts/latitude-uranium-cselur-why-the-future-looks-bright-for-uranium-in-nunavut-3448Recording date:26th September 2023Latitude Uranium Inc. (CSE:LUR | OTCQB:LURAF | FRA:EI1) is a Canadian uranium exploration company with a focus on district scale projects in Canada. The company has two main assets:The flagship Angilak Project located in Nunavut, which hosts a historical inferred resource of 43.3 million pounds U3O8 at an average grade of 0.69% U3O8. Recent drill results from the 2023 exploration program have intersected high-grade uranium mineralization including up to 21,000 counts per second on the Lac 50 Trend. Hole 18 discovered two new wide intercepts of 41 metres and 21 metres below historical drilling, opening up resource expansion potential.The Central Mineral Belt (CMB) Project in Labrador with historical resources at the Moran Lake and Anna Lake deposits. The large 152,865 hectare land package covers a significant portion of the prospective belt, which also hosts the Michelin uranium deposit. Airborne surveys were completed in 2022 to identify and prioritize targets.Latitude Uranium is focused on expanding the known high-grade mineralization at Angilak in the near-term, while also evaluating the district-scale potential. At the CMB project, compilation of the extensive historical data using modern techniques is underway to delineate drill targets.The company is well funded with approximately $3 million in cash. With uranium demand growth forecasted as part of the global energy transition and looming supply shortages, Latitude Uranium offers leverage to the upside in the uranium market through expanding and discovering district-scale projects in top ranked mining jurisdictions.View Latitude Uranium's Company Profile: https://www.cruxinvestor.com/companies/latitude-uranium

Interview with Darrin Campbell, President & CEO of Namibia Critical Metals (TSX-V: NMI)Recording date: 26th September 2023Darrin Campbell, CEO of Namibia Critical Metals, discussed the company's heavy rare earth Lofdal project in Namibia. Lofdal's key rare earths are dysprosium and terbium, which are critical for permanent magnets used in EVs and wind turbines.Namibia is a very mining-friendly jurisdiction where the company has worked for a decade and built strong government relationships. However, Namibia did recently ban unprocessed critical mineral exports, which won't impact Lofdal since they don't plan to export unprocessed rare earths.Lofdal was previously too small when first drilled in 2012 at just a 6 million tonne resource. But in 2020, a drill program expanded the resource dramatically to 53 million tonnes after securing a partnership with Japanese agency Jogmec. Jogmec is spending $20 million to earn a 50% project interest.This has allowed a revised PEA to show robust economics on the project with a $400 million NPV and 28% IRR. The vision is for Jogmec to bring in an industrial partner to further accelerate development. Campbell believes the project scale is sufficient for Jogmec given its heavy rare earth focus.The next steps are completing a PFS by 2023 Q3, advancing pilot-scale metallurgy testwork, and assessing the feasibility of a rare earth separation plant in Namibia. The company is also seeking additional Japanese industrial partners and hopes to announce progress on that in the coming months.—Learn more: https://www.cruxinvestor.com/companies/namibia-critical-metals-incSign up for Crux Investor: https://cruxinvestor.com

Interview with Gregory Hall, CEO of Alligator Energy (ASX:AGE)Our previous interview: https://youtu.be/-GnOaDUZ7ZMRecording date: 26th September 2023Gregory Hall, CEO of Australian uranium development company Alligator Energy, announced a new capital raising of $25.5 million AUD. The funds will support increased expenditures as Alligator ramps up activities at its Samphire Uranium Project. Samphire is at the mid-development stage and targeting production in 2027 to meet rising uranium demand.Alligator is fabricating a pilot plant and will conduct field recovery trials in early 2024, which are key to derisking the project. Hall believes this funding puts Alligator in position by early 2025 to have successful trials, a feasibility study, initial off-take agreements, and permits submitted. It allows them to also grow Samphire's resource faster than otherwise possible.The raise attracted institutional investors, mainly from Australia and Asia. Hall doesn't plan a share consolidation now despite some U.S. interest, as liquidity is important for institutions to enter and exit.Hall discussed uranium market dynamics, with producers noting they need long-term, well-priced contracts to increase supply and utilities realizing they need to contract now that legacy enrichment supply is declining. This is driving higher prices.At Samphire, the next big risk reduction milestone is the field recovery trials. Alligator has assembled an experienced ISR team to deliver its development plans. The company will look to expand Samphire's resource but doesn't need a massive resource to initially start small production and scale up like past ISR projects. An exploration target will demonstrate growth potential to support financing.—Learn more: https://www.cruxinvestor.com/companies/alligator-energySign up for Crux Investor: https://cruxinvestor.com

Alex Holmes, COO of Nano One Materials, a Canadian company developing cathode technology for lithium-ion batteries, announced a new collaboration and investment from Sumitomo Metal Mining. Sumitomo is investing nearly $17 million CAD for a 5% stake in Nano One. The companies have been collaborating over the past 9 months, with Sumitomo testing and validating Nano One's materials. Sumitomo sees potential in Nano One's differentiated process for producing cathode materials with a lower environmental footprint and competitive costs.The collaboration will focus on tailoring materials to Sumitomo's customer specifications, especially in the Japanese auto ecosystem. The end goal is licensing agreements and joint ventures for both LFP and nickel-rich NMC cathode materials. Holmes explained Nano One's hybrid business model - large auto plants would likely license the technology to avoid capex, while smaller plants like for grid storage may do JVs where Nano One provides technology and Sumitomo provides capital.Nano One recently acquired the only LFP cathode plant in North America and has retooled it for their process. They are now producing large samples to send to customers. Validation takes time, going through iterative samples from small to large scale. Holmes believes they are well positioned in North America where production is currently zero but will scale up significantly. Their team provides operating expertise that new entrants lack. The new funding will help complete plant conversions and trials to get large samples to customers.

Interview with Mark Jarvis, CEO & Chairman of Giga Metals Corp.Our previous interview: https://www.cruxinvestor.com/posts/giga-metals-giga-will-mitsubishi-introduce-a-new-shareholder-2619Recording date: 25th September 2023Giga Metals Corporation (TSX.V: GIGA, OTCQX: GIGGF, FSE: BRR2) is a mineral exploration and development company focused on nickel and cobalt. Its flagship project is the Turnagain project, located in northern British Columbia, Canada.The Turnagain project contains substantial nickel and cobalt resources, with 1.57 billion tonnes of measured and indicated resources grading 0.21% nickel and 0.013% cobalt. This equates to 7.5 billion pounds of nickel and 452 million pounds of cobalt. There is also an additional 1.16 billion tonnes of inferred resources grading 0.206% nickel and 0.012% cobalt (5.3 billion pounds nickel, 316 million pounds cobalt).A September 2023 pre-feasibility study outlined robust project economics for a large open pit mine producing a high grade nickel-cobalt concentrate. Average annual production over years 3-28 would be 35,224 tonnes of nickel and 2,064 tonnes of cobalt. The project has an initial capital cost of $1.9 billion and C1 operating costs averaging $4.65/lb nickel over years 3-28.At base case assumptions of $9.75/lb nickel and $26.54/lb cobalt, the after-tax NPV is $574 million with an IRR of 11.4%. The project is sensitive to nickel prices, with upside potential at higher prices.Giga Metals touts the low carbon footprint of the project compared to laterite nickel projects, with a carbon intensity of 1.77 tCO2e per tonne of nickel versus 5-6 tCO2e/t for Indonesian laterite projects.The company believes the Turnagain project can help meet rising nickel demand driven by electric vehicle batteries in North America. Giga Metals has a joint venture on the project with Mitsubishi Corporation.View Giga Metals' Company Profile: https://www.cruxinvestor.com/companies/giga-metals

Recording date: 25th September 2023The latest in the world of Nickel with Mark Selby, CEO of Canada Nickel. Nickel prices have dropped below $20,000/tonne recently, which has been predicted for months. Prices are expected to bottom out around $17,500-18,000/tonne over the next 2-3 months before starting to recover in early 2023. The recent price drop is seen as positive to "shake out" bears and set a new base before rising again on increased EV demand. Prices could return to $20,000/tonne levels by spring 2023. Despite economic uncertainty, strategic players like BHP and Wyloo are still aggressively trying to secure future nickel supply by acquiring deposits. Mining companies are expected to become more interested in battery metals once EV demand growth is more established. FPX Nickel signed an MOU with Toyota on potential mine development and downstream supply chain involvement, underscoring Toyota's desire to secure future nickel supply. Giga Metals released a PFS showing an 11% IRR on their Canadian nickel-cobalt project, aided by Canadian tax credits. The multi-decade mine life provides options if nickel demand rises more than expected. Canada Nickel is close to releasing a feasibility study that will double initial production plans, aiming to be among the world's largest nickel mines. They expect significant recovery improvements in nickel, iron, and chrome. Selby explains how nickel sulfates will likely trade at a discount to metal prices long-term, similar to what has happened with cobalt sulfates. Maximizing value involves delivering a product close to LME pricing. There is a long-term upside for nickel versus cobalt pricing, given the greater relative demand growth for nickel in EVs. New capacity could push cobalt prices quite low. Officials are meeting UK and French officials about critical minerals supply from Canada, as governments are keen to secure "safe supply" from jurisdictions like Canada.—Learn more: https://cruxinvestor.com

Interview with Max Porterfield, President & CEO of Callinex Mines Inc.Our previous interview: https://www.cruxinvestor.com/posts/callinex-mines-tsxvcnx-exciting-high-grade-vms-discoveries-in-northern-manitoba-3288Recording date: 20th September 2023Callinex Mines Inc. (TSX-V: CNX, OTCQX: CLLXF) is a Canadian mineral exploration company focused on discovering and developing high-grade copper, zinc, gold and silver deposits within the Flin Flon mining district in Manitoba. The company's main projects are the Pine Bay Project and the Nash Creek Project.The Pine Bay Project contains the high-grade Rainbow Deposit, which has an indicated mineral resource of 3.44 million tonnes at 3.59% copper equivalent and an inferred mineral resource of 1.28 million tonnes at 2.95% copper equivalent. The project is located 16km from Flin Flon and its infrastructure.The Nash Creek Project, located in the Bathurst mining district of New Brunswick, has an indicated mineral resource containing 963 million pounds of zinc equivalent and an inferred mineral resource containing 407 million pounds of zinc equivalent. A 2018 Preliminary Economic Assessment outlined a potential 10-year open pit mining operation for the project.Callinex Mines is focused on expanding its high-grade copper, zinc, gold and silver discoveries in established Canadian mining districts. The locations provide access to infrastructure like roads, rail, power and processing facilities. The company's technical team has a strong track record of discovery and development success in these districts. Callinex has a tight capital structure and believes it is well positioned to deliver value through new discoveries and resource expansion.View Cartier Resources' Company Profile: https://www.cruxinvestor.com/companies/callinex-mines

Interview with Peter Steenkamp, CEO of Harmony Gold Ltd.Our previous interview: https://www.cruxinvestor.com/posts/harmony-gold-hmy-diversification-and-organic-growth-focus-3079Recording date: 19th September 2023Harmony Gold Mining Company Limited (JSE: HAR, NYSE: HMY) is a South Africa-based gold mining company with assets in Papua New Guinea. Harmony operates 9 underground mines and 2 open-pit mines in South Africa, focused on optimised, high-grade and surface operations. The company also operates the Hidden Valley open-pit gold and silver mine in Papua New Guinea. In addition, Harmony has copper exposure through its proposed acquisition of the Eva Copper Project in Australia and its interest in the Wafi-Golpu copper-gold project in Papua New Guinea.Harmony has gold mineral resources of 137.8 million ounces, including reserves of 39.3 million ounces with an average reserve grade of 6.2g/t. The company produced 1.47 million ounces of gold in FY2023 (to June 2023). Harmony is targeting annual production of 1.38-1.48 million ounces in FY2024. Key upcoming catalysts include advancing the Eva Copper and Wafi-Golpu projects, extending high-grade zones at Moab Khotsong in South Africa, and completing Phase 2 of its renewable energy program. Harmony maintains a strong balance sheet with net debt/EBITDA of 0.2x and available liquidity of $385 million to support its growth pipeline. The company is focused on improving margins and directing capital towards higher quality assets.View Harmony Gold's Company Profile: https://www.cruxinvestor.com/companies/harmony-gold

Interview with Hayden Locke, President & CEO of Marimaca Copper Corp.Our previous interview: https://www.cruxinvestor.com/posts/marimaca-copper-mari-giant-mitsubishi-swoops-in-for-20m-stake-3253Recording date: 19th September 2023Marimaca Copper is a Chilean copper exploration and development company focused on its flagship Marimaca project located in the Antofagasta region. Marimaca represents a significant new copper oxide discovery and the only major find made in Chile over the past five years. With high-grade deposits situated close to surface, the project provides an opportunity for relatively low-risk, low-cost copper production in a prime location.The proximity of the Marimaca project to existing infrastructure, power supply, and ports enables efficient development with modest capital requirements. The company sees potential for additional district-scale Marimaca-style discoveries by leveraging new geological insights to expand exploration frontiers.As major mines in Chile face depletion, Marimaca Copper aims to sustain the country's global leadership in copper production through innovative exploration and responsible mining practices. The company's technical team brings expertise in developing copper projects in the region using methods focused on safety, sustainability, and community engagement.With copper in high demand for renewable energy and clean technologies, Marimaca represents a source to help meet growing needs. By pursuing a dual strategy of maximizing the value of its flagship asset and making new discoveries, Marimaca Copper seeks to create shareholder value through disciplined copper development.View Marimaca Copper's Company Profile: https://www.cruxinvestor.com/companies/marimaca-copper

Interview with Sean Roosen, Founder & CEO of Osisko DevelopmentRecording date: 19th September 2023Osisko Development is pioneering sustainable gold mining in North America. With a focus on revitalizing past-producing properties in mining-friendly regions, Osisko aims to unlock the untapped potential of historic gold districts.Led by a world-class team under Sean Roosen, Osisko has a proven track record of discovering, funding, and operating tier-1 mines, including Canada's largest gold operation.Osisko Development is advancing flagship projects in British Columbia, Utah, and Sonora that offer substantial opportunities for continued exploration and resource growth. Supported by significant mining histories, Osisko Development's expansive land packages provide the foundations for district-scale development.The company's flagship project, the Cariboo Gold project in British Columbia, is a significant asset. Spanning over 2,000 square kilometers, it represents a district-scale land package in a historically gold-rich region. The Cariboo Gold project boasts substantial gold reserves. detailed to be several million ounces of gold, emphasizing the potential of this asset to yield significant returns with the next significant milestone involving finalising the FSAnother noteworthy project in Osisko's portfolio is the Tintic project. Located in Utah, this project further underscores the company's commitment to exploring and developing gold-rich zones in North America. Like Cariboo, Tintic holds promise, with substantial exploration upside, with further drilling and exploration programs underway to better define the resource. One to watch in the months and years ahead!View Osisko Development's Company Profile: https://www.cruxinvestor.com/companies/osisko-development

Interview with Paul Huet, Chairman & CEO & Oliver Turner, Executive VP of Karora Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/karora-resources-tsxkrr-record-gold-production-future-growth-plans-3296Recording date: 18th September 2023With a focus on sustainable growth, Karora Resources has set its sights on becoming the next mid-tier gold producer. Headquartered in Western Australia, Karora operates the integrated Beta Hunt mine and Higginsville Gold Operations. Karora aims to increase gold production to 170,000-195,000 ounces by 2024. The company achieved record annual production of 133,836 ounces in 2022 and has produced over 80,000 ounces in the first half of 2023. The company believes growing to 200,000 ounces per year production in a Tier 1 mining jurisdiction will re-rate its valuation to the next tier of gold producers. Karora is debt-free and well-positioned to self-fund its growth plan from operational cash flow.To meet its production goals, Karora continues to expand its mineral resources through acquisition, exploration and development. The company's multi-asset portfolio provides diversity across several high-quality gold properties.Processing capacity is a key enabler, with Karora operating two mills in Western Australia - Higginsville and Lakewood - with combined capacity of 2.5 million tonnes per annum. These mills are fed from Karora's flagship mines Beta Hunt and Higginsville, as the company executes its growth strategy with sustainable costs and production in mind.Karora reached carbon neutrality in 2021 and 2022 and is committed to ESG leadership.View Karora Resources' Company Profile: https://www.cruxinvestor.com/companies/karora-resources

Interview with Lon Shaver, Vice President of Silvercorp Metals (TSX/NYSE: SVM)Our previous interview: https://youtu.be/fUKWQETAeE0. and https://youtu.be/P2JJ1eVnFTERecording date: 19th September 2023 Silvercorp Metals President Lon Shaver and Orecorp Managing Director Hank Diederichs provided an update on Silvercorp’s proposed acquisition of Orecorp and its Nyanzaga gold project in Tanzania. The deal was announced in August and will expand Silvercorp’s portfolio beyond its core assets in China. Orecorp shareholders will own approximately 18% of the combined company after the acquisition closes. Diederichs noted Orecorp has a strong shareholder base of retail, high net worth individuals, and institutions that are enthusiastic supporters of Nyanzaga. Shaver highlighted Nyanzaga as a permitted, high quality gold project with robust economics and multi-decade mine life potential. The feasibility study outlined capital costs of $474 million, which Silvercorp believes can be optimized. The company intends to fund development through its existing $170 million cash balance plus a range of debt financing options. Since the acquisition was announced, Silvercorp has already provided $28 million to Orecorp to advance early works focused on community relocation at Nyanzaga. The project could reach production in late 2025, with key upcoming derisking catalysts being completion of the acquisition, release of Silvercorp’s development plans, and securing project financing. In China, Silvercorp continues exploration and phased expansions at its Ying mine complex to extend mine life. Shaver stated the Orecorp deal transforms Silvercorp into a precious metals producer with geographical diversity while still allowing organic growth from its cash flowing Chinese assets.—Learn more: https://cruxinvestor.com

Interview with Kyle Floyd, CEO of Vox Royalty (TSX:VOXR)Our previous interview: https://youtu.be/YWEibfLzbxs and https://youtu.be/QWYPralBVRwRecording date: 19th September 2023Vox Royalty CEO Kyle Floyd provided an update on the royalty company's performance and strategy in an interview at the Denver Gold Forum conference. Vox focuses on acquiring existing third-party royalties rather than originating streaming deals directly with operators.In 2022, Vox is on track to generate $11-13 million in royalty revenue, up from $9.7 million in 2021. Floyd highlighted a recent royalty acquisition that is already yielding a 15x return on invested capital, demonstrating Vox's ability to source high-return royalties.Vox leverages extensive databases and boots-on-the-ground deal teams to identify existing royalties globally, often from atypical owners like doctors, family trusts, and telecom companies. Since 2019, Vox has completed more third-party royalty acquisitions than any other company.This unique sourcing provides durable competitive advantages. Vox can transact outside competitive bidding wars for typical royalty financings, allowing it to consistently find strong returns even amidst an increasingly competitive royalty sector.Floyd stated the market is undervaluing Vox's existing portfolio and track record. The company will continue its disciplined strategy of deploying capital into overlooked royalty opportunities to compound portfolio returns over time.With a core focus on maximizing returns on invested capital rather than competing on absolute deal rates, Floyd sees Vox's business model as differentiated. The company offers pure exposure to increasing cash flows from a diversified royalty portfolio assembled at high rates of return.—Learn more: https://cruxinvestor.com

Interview with Ron Thiessen, CEO of Northern Dynasty Minerals (TSX/NYSE:NAK)Recording date: 19th September 2023Northern Dynasty Minerals CEO Ron Thiessen provided an overview of the company's giant Pebble copper-gold project in Alaska in an interview at the Denver Gold Forum conference. Thiessen stated over $1 billion has been spent on drilling, engineering studies, and environmental work to advance Pebble, one of the world’s largest undeveloped copper-gold-molybdenum deposits.The Pebble deposit contains approximately 57 billion pounds of copper, 71 million ounces of gold, and significant molybdenum and silver. Initial mine plans outline a project producing 300-350 million pounds of copper and 300,000-350,000 ounces of gold annually over a 20-year mine life. The asset has strong economics with an estimated IRR of 16% and NPV of $2.3 billion at a 7% discount rate.While positive economic studies and engineering de-risking are complete, Pebble was denied a key permit in late 2020. Thiessen stated political factors in an election year likely influenced what should have been a science-based decision. Northern Dynasty has subsequently filed an appeal and legal challenge.A pending Supreme Court decision could help overturn an EPA determination against Pebble as soon as 2023. Thiessen sees several upcoming potential catalysts that could unlock permitting and development of one of the world’s premier undeveloped copper-gold resources.In the interim, Northern Dynasty has $60 million from a recent royalty sale to fund critical path work. Thiessen noted Pebble remains a highly coveted asset that senior miners around the world would like to develop when permitting risks are resolved.Learn more: https://cruxinvestor.com

Interview with John Lee, Executive chairman & CEO of Silver Elephant MiningOur previous interview: https://www.cruxinvestor.com/posts/silver-elephant-mining-elef-the-waiting-game-timing-the-market-3101Recording date: 14th September 2023Silver Elephant Mining is focused on its flagship Pulacayo silver-lead-zinc project in Bolivia. The company recently announced a deal to truck and process near-surface oxides from Pulacayo at a third-party facility.In an interview, Chairman and CEO John Lee outlined plans to use the modest cash flows from this agreement to advance Pulacayo's underground sulfide potential. However, formal studies have not been conducted and risks remain in recalibrating the project to feasible smaller-scale production.Under the 5-year deal, Silver Elephant will provide around 800,000 tonnes of oxidized material grading approximately 230 g/t silver from its Paca deposit to partner Minera NDNM's processing plant. This is expected to generate $5 million in prepayments and cost reimbursements, phased over 18 months. While not linked to silver prices, NDNM will pay additional sums if silver rises above $28-32 per ounce.Silver Elephant aims to direct these limited cash flows towards preliminary engineering and feasibility work on underground sulfide mining at Pulacayo. Historic bonanza-grade production occurred from high-grade veins within the larger resource. However, formal studies have not been conducted to verify feasible parameters and economics. Required permitting also presents risks.With approximately 100 million ounces of silver in the ground, Pulacayo offers resource upside. However, advancing the project to construction amid challenging markets presents hurdles. While the deal provides non-dilutive funding through 2025, shareholders still face uncertainty regarding development timelines and ultimate economic viability.—View Silver Elephants's Company Profile: https://www.cruxinvestor.com/companies/silver-elephant-mining-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Nolan Peterson, CEO of Sandstorm Gold Royalties (TSX:SSL, NYSE:SAND)Our previous interviews: https://youtu.be/EaxtScCYzx0. and https://youtu.be/Ro4pOafAoi4Recording date: 18th September 2023Sandstorm Gold President and CEO Nolan Watson provided an update on the streaming company's strategy in an interview at the Denver Gold Forum conference. Watson noted Sandstorm plans to be "boring" over the next couple of years, focusing on paying down debt and waiting for four key assets to reach production.Watson sees volatility declining in Sandstorm's share price with major shareholders who had been selling down now mostly cleared out. Going forward, trading should be more fundamentals-driven. Institutional investors remain bullish on gold given high interest rates and see an upside if rates start falling.On the macro outlook, Watson believes central banks are supporting the institutional liquidation of gold, resulting in significant net buying. He sees gold emerging as a viable alternative reserve currency to the U.S. dollar over time as countries push for de-dollarization.Sandstorm expects to produce around 95,000 gold equivalent ounces in 2022. With no additional acquisitions, four assets under construction are slated to drive production to around 125,000 ounces by 2027, representing over 30% growth. These include Equinox Gold's Greenstone mine in Canada, Ivanhoe's Platreef mine in South Africa, Barrick's Robertson mine at Cortez in Nevada, and Houndé in Burkina Faso.Given high interest rates, Sandstorm plans no major acquisitions in the near term. The focus is on paying down debt taken on to fund recent deals. Watson may look to sell non-core assets to accelerate debt repayment. Once debt is reduced, Sandstorm has locked in an option to acquire a $225 million stream from Glencore's Mara project.In summary, Sandstorm offers stable growing cash flow leverage to the gold price from a diversified portfolio of world-class mines. With no equity issuances needed, investors can position for pending production growth through a period of debt reduction and anticipated sector upside.—Learn more: https://cruxinvestor.com

Interview with Dan WIlton, CEO, First Mining Corp (TSX: FF)Our previous interviews: https://youtu.be/q-aaPYyEzWI. and. https://youtu.be/E7lmu6Y8RioRecording date: 18th September 2023First Mining Gold CEO Dan Wilton provided an update on the company's activities in an interview at the recent Denver Gold Forum conference. First Mining is advancing its Springpole and Duparquet gold projects in Canada.Wilton noted First Mining is seeing increased interest from major mining companies in acquiring advanced development projects. The majors recognize they need to replenish their project pipelines given depleting reserves and lack of exploration spending. First Mining's projects in mining-friendly jurisdictions check many of the boxes majors are looking for.At Springpole in Ontario, First Mining continues permitting and environmental assessment work. The project has approximately 7 million ounces of resources and is one of the largest undeveloped gold projects in Canada. At Duparquet in Quebec, First Mining recently released a positive Preliminary Economic Assessment (PEA) outlining an average annual production potential of 236,000 ounces over a 14-year mine life.First Mining is drilling at Duparquet to upgrade resources and explore for additional mineralization at depth and along strike. The historic Beattie mine produced over 1.5 million ounces, indicating significant exploration upside remains.On project advancement strategies, Wilton highlighted the potential to accelerate initial cash flows by leveraging nearby infrastructure at Duparquet, including underutilized mills. First Mining will investigate interim solutions to generate earlier revenues before completing full-scale permitting.Regarding the gold market, Wilton sees macroeconomic conditions pointing positively for gold prices. He believes gold could potentially reach $2,500-3,000/oz over the next 12-18 months. At these higher gold prices, the NPVs of First Mining's projects increase dramatically due to the resource leverage.First Mining's focus remains advancing Springpole and Duparquet to construction decisions within the next couple years, ideally coinciding with a rising gold price environment. Wilton believes First Mining offers maximum leverage for investors looking to capitalize on the coming upswing in the development project cycle.—Learn more: https://cruxinvestor.com

Interview with Charles Funk, CEO, Heliostar Metals (TSXV:HSTR)Our previous interview: https://youtu.be/qxDRMLFxue8Recording date: 18th September 2023HelioStar Metals CEO Charles Funk provided an update on the company's Anapola gold project in Mexico in an interview at the recent Denver Gold Forum conference. Funk highlighted the project's potential to host 1.5-2 million ounces of high-grade gold resources.Funk noted that HelioStar acquired the Anapola project in early 2022 and believes it can become the next major gold mine in Mexico. Recent drilling has intersected exceptionally high grades, with 100-130 meter intercepts averaging 5-8 g/t gold and including 50 meter intercepts up to 10-15 g/t gold. Mineralization has been traced over 280 meters of strike length and remains open.The deposit benefits from over $75 million in previous exploration spending. Existing infrastructure includes roads, power, a processing plant, and a permitted open pit and underground decline. The underground potential has become the focus, given the exceptional grades encountered.Over the next few months, HelioStar is expecting metallurgy results and a resource update focused on the high-grade underground zones. The resource could outline 1.5-2 million ounces grading over 5 g/t gold. Early mining would target diluted head grades around 8 g/t gold.Given the growth potential, HelioStar now plans to complete a PFS in 2023 before moving to a full FS in late 2023 or 2024. This will allow more drilling to expand resources before finalizing development plans. The timeline to potential production has been pushed back by 3-6 months but remains on a fast track.On the permitting side, the existing open pit permits provide a head start. Funk sees a 12-month timeframe to obtain underground mining permits. Community engagement and social license activities are also well advanced.The Anapola project's combination of high grades, strong economics, existing infrastructure and permits gives HelioStar confidence it will become Mexico's next major gold mine. The upcoming catalysts of metallurgy, resource update and economic studies will further demonstrate the potential value as the project is advanced toward a production decision.—Learn more: https://cruxinvestor.com

Interview with Nic Earner, CEO of Alkane Resources (ASX:ALK)Recording date: 18th September 2023Alkane Resources Managing Director, Nic Earner, provided an update on the Australian gold miner in an interview at the Denver Gold Forum conference. Alkane currently operates the Tomingley Gold Mine in New South Wales, which produced around 70,000 ounces in 2021 at an all-in sustaining-cost under A$1,600/oz.Looking ahead, Earner expects Tomingley production to increase in 2022 and costs to rise to A$1,750-2,100/oz. This reflects inflationary pressures in Australia on items like power, fuel, steel, and reagents. Earner believes cost increases of around 30% represent a new baseline for the Australian gold sector.Alkane is using cash flow from Tomingley to advance exploration at its Boda-Kaiser copper-gold porphyry project, also in New South Wales. Boda-Kaiser currently hosts about 15 million ounce gold equivalent resources. Upcoming catalysts include a resource upgrade at Boda expected this quarter and initial resources at Kaiser in Q1 2023.To fully realize Boda-Kaiser’s value, Alkane is considering strategic partnerships, minority investments, or even a potential split into separate gold and copper-focused entities. Earner believes Alkane’s track record of exploration success and experience in project development position it strongly.The goal remains growing Tomingley’s production profile while advancing Boda-Kaiser to be construction-ready around 2026. This is expected to transform Alkane into a major dividend-paying gold producer. In the interim, Earner stressed profitable gold production and exploration success as key pillars to attracting investors seeking leverage to the upside.

Interview with David Rae, CEO of Dundee Precious Metals (TSX:DPM)Our previous interview: https://youtu.be/tSF0PGM3bBM and https://youtu.be/eiJ6SEBxTHkRecording date: 18th September 2023Dundee Precious Metals CEO David Rae provided an update on the company's performance and outlook in an interview at the Precious Metals Summit in Colorado. DPM operates two mines in Bulgaria, Ada Tepe and Chelopech, which have delivered exceptional results in 2022.In the first half of 2022, DPM generated $135 million of free cash flow based on strong production and low costs. All-in sustaining costs at Chelopech are in the mid $400s per ounce, with the mine meeting all performance targets. Improvements underground and a shift to 5-day per week mining are delivering increased efficiencies.Rae noted inflationary pressures drove costs up around 30% initially, though some input prices such as energy are now seeing reductions. He believes DPM's low-cost assets provide flexibility to maintain margins despite cost pressures.DPM is investing to extend Chelopech's mine life through expanded exploration. At Ada Tepe, the focus is on optimizing recoveries and costs as the mine nears end of life in coming years. DPM is also advancing electric fleet and automation initiatives to improve productivity and lower costs.In Ecuador, DPM continues permitting for its Loma Larga project but does not expect resolution until a new government is in place. More exciting is the Choquepitita project in Peru, which Rae likened to a second Ada Tepe just 5 hours from existing operations by road. DPM is fast-tracking scoping studies and exploration to outline development potential.With $540 million in cash and consistent free cash flow generation, DPM is evaluating M&A opportunities but remains disciplined. The goal is to create value on a per share basis rather than growth for growth's sake. Rae believes DPM is undervalued based on current assets and sees a path to building value both organically and through acquisitions.

Interview with Gerald Panneton, Executive Chairman and CEO of Gold Terra Resource Corp. (TSXV: YGT)Our previous interview: https://youtu.be/2phptqOtu0c and https://youtu.be/ZKQETXsrT4oRecording date: 18th September 2023GoldTerra Resource Chairman and CEO Gerald Panneton provided an update on the company's Yellowknife City Gold project in Canada's Northwest Territories in an interview at the Denver Gold Forum.Panneton stated GoldTerra is focused on outlining an initial resource of 2 million ounces of high-grade gold below the former Con gold mine, which ceased operations in 2002 after producing over 6 million ounces. Recent drilling has intersected exceptional grades including 33 g/t gold over 3 meters.GoldTerra has currently outlined 500,000 to 600,000 ounces of near-surface mineralization at Yellowknife City. Panneton sees potential for another 600,000 ounces within the old Con mine workings. The company is advancing toward an initial resource estimate and Preliminary Economic Assessment (PEA) in 2024.Located just 10 kilometers from Yellowknife, the project benefits from excellent infrastructure and year-round accessibility. Panneton highlighted the social license advantages of focusing largely on an underground operation near an established mining city rather than building a new open pit elsewhere.Despite weak market conditions, Panneton believes GoldTerra must keep advancing exploration and project development. He sees an important role for junior miners in supplying future gold production from safe jurisdictions like Canada.Panneton stated GoldTerra can delineate 2 million ounces with additional drilling at an attractive discovery cost of just $5 to $10 per ounce. The current valuation equates to only $5 to $10 per resource ounce, providing strong leverage as the project is derisked.With a strong technical team and balance sheet, Panneton expressed confidence GoldTerra will continue advancing the district-scale Yellowknife City project to realize significant value for shareholders as the market turns.

Interview with Bradley Langille, President & CEO of GoGold Resources Inc.Our previous interview: https://www.cruxinvestor.com/posts/gogold-resources-ggd-racing-to-silver-production-3164Recording date: 15th September 2023GoGold Resources is developing a portfolio of silver-gold projects in Mexico, with a focus on scaling production at the Los Ricos district in Jalisco state. The company already operates the Parral tailings project, generating cash flow for its growth pipeline.In a recent interview, CEO Brad Langille outlined GoGold's fully funded path to production at Los Ricos. The project encompasses two deposits, Los Ricos North and South, with economic studies completed on both. Over 270 million silver equivalent ounces have been delineated through extensive drilling since 2018.The phase one plan is to build a 1,750 tonne per day underground mine and process plant at Los Ricos South. An initial PEA outlined strong economics based on the high-grade Eagle deposit, with $458 million NPV from the first 11 years of mining. GoGold has approximately US$99 million in cash following a US$65 million raise, providing full funding for this initial capex of US$148 million.GoGold aims to complete a pre-feasibility study by late 2022 or early 2023. Permitting is underway for the underground mine, with production targeted for 2024-2025. This would generate estimated annual cash flow of US$80 million at current silver prices.The phase two expansion at Los Ricos North would follow, funded by cash flow and debt. This envisions an 8,000 tonne per day open pit operation, with total consolidated production exceeding 15 million silver equivalent ounces per year. Ultimately, GoGold is positioning Los Ricos to be one of the largest pure play silver producers globally.Despite market weakness, GoGold has maintained a strong balance sheet and peer-leading growth pipeline. The phased approach reduces execution risk and positions the company to benefit from higher silver prices expected later this decade. With a proven team and clear path to production, GoGold offers leverage to unlocking one of Mexico's premier silver districts.—View GoGold's Company Profile: https://www.cruxinvestor.com/companies/gogold-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Ari Sussman, Executive Chairman of Collective MiningOur previous interview: https://www.cruxinvestor.com/posts/collective-mining-cnl-previous-2b-sale-shows-way-for-new-venture-2880Recording date: 14th September 2023Collective Mining is focused on making large-scale copper-gold discoveries at its Guayabales project in Colombia. The company has intersected high-grade mineralizationstarting at surface, with impressive bulk tonnage potential.In a recent interview, Executive Chairman Ari Sussman explained why Collective's share price has strongly outperformed peers despite weak markets. The project contains a porphyry system overprinted by high-grade gold-silver veins, yielding exceptional grades over long intervals. Five of six initial targets have resulted in discoveries.With approximately $23 million in cash, Collective is fully funded for two years of drilling at its current pace. While additional rigs could accelerate the program, the company is taking a prudent approach given tight equity markets. The aim is to systematically test and expand the multiple zones at Guayabales.According to Sussman, the deposit shows all the hallmarks of a future mine based on drill results improving with depth and scale. Once the system is fully defined, the company will shift focus to infill drilling and formal economic studies.Given Sussman's track record of success in Colombia, including the $2 billion takeover of Continental Gold in 2020, Collective is positioned to create significant value at Guayabales. The company offers leverage to further high-grade results as drilling continues to delineate a potentially world-class copper-gold district.With approx. 45% insider ownership and minimal institutional presence, Collective has room to broaden its share registry over time. The current share price does not reflect the project's outstanding early potential. But systematic exploration and positive results could attract increasing investor interest in a recovering market.—View Collective Mining's Company Profile: https://www.cruxinvestor.com/companies/collective-miningSign up for Crux Investor: https://cruxinvestor.com

Interview with David Christie, President & CEO of Orford Mining Corp.Our previous interview: https://www.cruxinvestor.com/posts/orford-mining-orm-exploring-gold-critical-minerals-in-quebec-3243Recording date: 15th September 2023Orford Mining is a junior exploration company focused on gold and critical minerals projects in Quebec, Canada. In a recent interview, President and CEO David Christie highlighted Orford's diversified portfolio and upcoming catalysts that could unlock value for shareholders.Orford has an extensive lithium exploration portfolio covering 557 square km. This past summer, the company conducted 1500 mapping stations and identified 580 pegmatites, collecting 640 rock samples and 19 channel samples. Assay results are pending but could outline new lithium discoveries. Orford sees potential to partner with major lithium companies, as peers have done in Quebec.The flagship Pickle Crow gold project covers 443 square km in a prolific gold district. Using an ARD drill, Orford tested covered areas and discovered high-grade quartz veins grading up to 32 g/t Au near surface. Six ARD holes intersected the same veining and sulfides, with assays pending. At Central Patwon, initial sampling returned up to 30 g/t Au, and three holes also intersected veining and sulfides. Over 4km of copper-gold mineralization was previously outlined at the Sparrow target, and recent work identified a parallel trend further south with semi-massive to massive chalcopyrite and pyrite outcrops. This points to a much larger system through folding and repetitions. With surface samples up to 20 g/t Au and 5% Cu, the potential scale here could be company-changing.At West Raglan, airborne surveys and ground magnetics generated targets for the ongoing JV with BHP. Drilling is planned for 2023 after data is analyzed. The Chatillon Eagle South gold zone will also see resource definition drilling this winter.Despite this pipeline, the market downturn has pressured the share price. Orford is considering several options to unlock value:Monetizing its two silver royalty assets in Colombia, which are now in a sales processBringing in a JV partner for the Sparrow copper-gold project to share risk and costsMore broadly, joint-venturing projects while retaining upsideThe next few months will be catalyst-rich, with most exploration results expected before mid-October. Positive results could improve market sentiment and allow partnerships and other transactions to proceed. Orford aims to balance maximizing its assets' potential with prudent capital management in challenging markets. Its diversified portfolio provides optionality to direct resources toward the most prospective opportunities. But retaining upside will be critical, as assets like Sparrow demonstrate large-scale potential.Overall, Orford offers investors exposure to high-impact exploration with upcoming catalysts that could re-rate the stock. The planned transactions aim to accelerate development timelines and optimize capital allocation. With gold and lithium assets located in a top mining jurisdiction, Orford has the ingredients for outsized returns once markets improve. Patient, long-term investors could be rewarded as work continues to unlock the value across this diversified portfolio.—View Orford Mining's Company Profile: https://www.cruxinvestor.com/companies/orford-miningSign up for Crux Investor: https://cruxinvestor.com

Interview with Christian Ervin Easterday, Managing Director & CEO of Hot Chili LtdOur previous interview: https://www.cruxinvestor.com/posts/hot-chili-hch-another-non-dilutive-financing-to-advance-copper-production-3262Recording date: 15th September 2023Hot Chili (ASX:HCH) is advancing one of the largest new copper projects globally, with a clear growth strategy to position itself as a major leveraged play on rising copper prices this decade.In a recent interview, CEO Christian Easterday outlined plans to expand the resource base and production profile at the Costa Fuego copper-gold project in Chile. The aim is to boost output from a PEA-stage 95,000 tonnes per annum of copper towards 150,000 tonnes per annum. An active 30,000 metre drill program and M&A strategy underpin this growth pivot.The low elevation, low strip ratio project already boasts competitive economics at baseline copper prices. But most importantly, Hot Chili's scale provides maximum exposure for shareholders as the copper market tightens. The company estimates a $0.50/lb rise in copper adds $3.3 billion in post-tax NPV and could drive the share price up to A$11.Key advantages include fully permitted access to low-cost seawater, rather than scarce freshwater sources. This provides a cost edge over peers and also opens up a potential water utility business for the region. Early stage work is underway to evaluate this opportunity.Additionally, Hot Chili is well advanced on baseline environmental studies required for permitting. The aim is to submit an EIA in 2023 and reach a construction decision in 2026, when copper markets are forecast to be very tight. First production is targeted for 2028-2030.The company is well funded, with A$24 million in cash following a royalty deal with Franco-Nevada. This leaves flexibility for further acquisitions and drill programs to expand resources at Costa Fuego. Conversations are also underway with majors, traders like Glencore, institutional investors, and automakers about strategic partnerships.In summary, Hot Chili offers investors leveraged exposure to copper via one of the few new projects of scale that can reach production before 2030. The large resource base, exploration upside, and advantages around water position it strongly against peers. While further funding will be required, the company has several options to create value, including potential spin-outs of the water rights. As copper markets tighten in the electrification era, Hot Chili's pivot to growth places it amongst the most exciting copper developers globally.—View Hot Chili's Company Profile: https://www.cruxinvestor.com/companies/hot-chili-limitedSign up for Crux Investor: https://cruxinvestor.com

Interview with Bradley Rourke, President & CEO of Scottie Resources Corp.Our previous interview: https://www.cruxinvestor.com/posts/scottie-resources-scot-20000m-drill-plan-to-expand-mineralised-envelope-3123Recording date: 15th September 2023Scottie Resources is advancing a district-scale 60,000 hectare land package in British Columbia's prolific Golden Triangle. The company boasts seven past-producing mines, with current exploration focused on expanding the high-grade Blueberry zone at the Scottie Gold project.In a recent interview, President and CEO Brad Ruck outlined Scottie's systematic exploration strategy and potential pathways to create shareholder value. The company completed a 20,000 metre drill program in 2022, with assays pending over the next few months. An initial hole returned 56 g/t gold over 3.7 metres, connecting high-grade mineralization across the zone model.Ruck explains that Blueberry is road accessible and contains near surface intercepts over 300 g/t gold. Scottie has designed variability test work on composite samples, achieving up to 97% recoveries at nearby mills. This derisks the deposit and provides a baseline valuation.With the goal of outlining 1+ million ounces of high-grade gold, Scottie is well positioned for an M&A exit or production scenario. The company has garnered major corporate interest after its discovery success. Strategic discussions are likely once the full drill results are released.To advance Blueberry and its regional targets, Scottie is considering traditional and alternative financing options suited to challenging markets. These include royalty deals, JVs, and strategic investments. A small capital raise was recently launched and anchored by a lead institutional order.Despite depression in junior equities, Scottie has maintained drill productivity via its fixed infrastructure and hands-on approach. With one of few fully-funded 20,000m programs in the Golden Triangle this year, Scottie will deliver a steady news flow into early 2023. Its seasoned team continues executing through cycles to drive shareholder value.Overall, Scottie offers leverage to new high-grade gold discoveries in a top-tier jurisdiction. The investment case combines proven technical skills with project optionality across a large land package. As assays arrive, Blueberry has potential to emerge as the next flagship deposit in the Golden Triangle.—View Scottie Resources' Company Profile: https://www.cruxinvestor.com/companies/scottie-resources-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Arturo Préstamo Elizondo, Exectuive Chairman & Interim CEO of Santacruz Silver Mining (TSX-V: SCZ)Our previous interview: https://youtu.be/uSMBY6VvSwoRecording date: 4th September 2023Santacruz Silver focuses on managing, acquiring, exploring, and developing mineral assets across Latin America. In Bolivia, the company operates the Bolivar, Porco, and Caballo Blanco Group, which includes the Tres Amigos, Reserva, and Colquechaquita mines. Additionally, the Soracaya exploration initiative and the San Lucas ore procurement and trading venture are also based in Bolivia. The Zimapan mine is located in Mexico.—View SantaCruz Silver's Company Profile: https://www.cruxinvestor.com/companies/santacruz-silver-miningSign up for Crux Investor: https://cruxinvestor.com

Interview with Frederick Bell, Executive Director & CEO of Elemental Altus Royalties Corp.Our previous interview: https://www.cruxinvestor.com/posts/elemental-altus-royalties-tsxvele-rapid-growth-expanding-portfolio-overview-3717Recording date: 14th September 2023Elemental Altus Royalties is a growth-oriented precious metals royalty company focused on generating shareholder value through strategic acquisitions and asset generation. With a portfolio of 10 producing royalties and a strong pipeline of pre-production and discovery stage assets, Elemental Altus offers investors exposure to a diversified mix of royalty revenue today and significant upside potential for the future.The Vancouver-based company actively acquires uncapped royalties on producing and near-producing mines operated by established operators. This provides shareholders with lower risk exposure compared to traditional mining investments. Elemental Altus also originates new royalties by funding exploration on projects generating royalties on any future discoveries. This unique business model provides upside optionality without ongoing expenditures. Led by an experienced management team, Elemental Altus is poised to continue expanding its portfolio of revenue-generating royalties across a range of commodities and mining jurisdictions.—View Elemental Altus's Company Profile: https://www.cruxinvestor.com/companies/elemental-altus-royaltiesSign up for Crux Investor: https://cruxinvestor.com

Interview with Alan Carter, President & CEO of Cabral Gold Inc.Our previous interview: https://www.cruxinvestor.com/posts/cabral-gold-tsxvcbr-5m-funds-pfs-improves-build-out-timeframe-3315Recording date: 14th September 2023Cabral Gold is advancing the Cuiú Cuiú gold project in northern Brazil, with the aim of bringing low-cost oxide gold production online rapidly. In a recent interview, President and CEO Alan Carter outlined plans to complete a pre-feasibility study on the oxide cap by January 2023 and potentially start construction by Q2 2023.With approximately $7 million in the bank, Cabral is funded to complete the pre-feasibility study on the oxide zone. This oxidized material sits above the primary gold resource and contains over 60 meters of free-digging material that can be processed via simple heap leach methods. By focusing first on the oxide cap, Cabral aims to generate early cash flow with low initial capex requirements.The larger Cuiú Cuiú project contains 1.2 million ounces of indicated and inferred hard rock gold resources. However, developing the full potential of the project will require substantially more capital investment. Targeting the oxide zone first is a lower-risk, faster route to production and revenue within 12-18 months.Cuiú Cuiú is located next to G Mining’s large-scale gold project, which recently commenced construction. G Mining’s development has improved infrastructure in the region and heightened attention on the district's potential. During historical gold rushes, streams on G Mining's land produced 200,000 ounces, while 2 million ounces were mined from Cabral's project area.With a current market cap around $25 million and approximately 15 million ounces in enterprise value per ounce, Cabral believes it is deeply undervalued. The company is engaged in project financing discussions to fund construction of the starter oxide mine, which requires relatively modest capital expenditure given the simple process flow sheet.Advancing the oxide zone provides a clear pathway to near-term cash flow for Cabral. It also de-risks future development of the full Cuiú Cuiú project and its multi-million ounce potential. For investors, the company offers speculative exposure to high-grade gold development in a proven region of Brazil.—View Cabral Gold's Company Profile: https://www.cruxinvestor.com/companies/cabral-goldSign up for Crux Investor: https://cruxinvestor.com

Interview with Victor Cantore, President & CEO of Amex Exploration Inc.Our previous interview: https://www.cruxinvestor.com/posts/amex-exploration-amx-5-rigs-turning-at-perron-gold-results-follow-2757Recording date: 14th September 2023Amex Exploration is a Canadian junior gold exploration company focused on its high-grade Perron gold project located in northwestern Quebec. In this interview at the 2023 Beaver Creek Precious Metals Summit, Amex President and CEO Victor Cantore provides an update on the company's exploration progress and development plans.Cantore states that Amex has a full schedule of meetings at Beaver Creek, including retail investors, institutions, funds and strategics. This indicates significant interest in the story as the company advances both exploration and early-stage development work. According to Cantore, Amex recently added a mining engineer, resource geologist and environmental specialist to the team to advance Perron towards maiden resource estimation and a Preliminary Economic Assessment (PEA) in 2023. The exploration team remains fully intact with plans to continue drilling to expand resources and make new discoveries.Regarding the impact of recent forest fires near the Perron project, Cantore confirms there were no injuries or significant damage. The fires did cause a 7-week delay in drilling, but will also open up new areas for exploration via 65km of new roads being built in the region. Amex still has 5 drill rigs operating focused on infill drilling for the resource and exploration step-outs to expand mineralization.As of June 30, Amex had C$12.4 million in cash plus another C$4.4 million in flow-through funds to be spent by year-end. This is sufficient to fund continued exploration and development work into 2023. Cantore states Amex can control the burn rate and slow drilling if needed, but there are no immediate financing plans. The company will look to raise opportunistically at better valuations in the future.Regarding the high-grade gold mineralization, Cantore emphasizes the impressive continuity of the high-grade zones which lends itself well to potential underground mining scenarios. The development team will assess various mining methods and economics to maximize returns in the maiden resource and PEA.The key members of the development team are mining engineer Steven Cooke, Jonathan Gagne who worked on the Greenstone project, geologist Richard Pierre who worked on the Cisco project, and permitting specialist Jacqueline Leroy who worked on the Elder mine. This experienced team will provide crucial inputs for maximizing the value of Perron's high-grade gold mineralization.Despite weak equity markets, Cantore remains positive on the gold price long term. He believes high interest rates are cyclical and will eventually decline, which should spur a renewed gold bull market. In the interim, Amex is fully funded to continue delivering results from its dual exploration-development strategy focused on advancing the exciting high-grade Perron project.In summary, Amex Exploration is actively exploring and de-risking its Perron gold project in Quebec to build shareholder value. The experienced management team is executing a clear strategy by drilling to expand resources, while advancing engineering and economic studies to demonstrate a path towards gold production. With a tight share structure and strong institutional support, Amex Exploration warrants consideration as an emerging producer in a top-tier mining jurisdiction.—View Amex Exploration's Company Profile: https://www.cruxinvestor.com/companies/amex-explorationSign up for Crux Investor: https://cruxinvestor.com

Interview with Marc-Andre Pelletier, President & CEO of Bonterra ResourcesOur previous interview: https://www.cruxinvestor.com/posts/bonterra-resources-btr-junior-gold-explorer-in-quebecs-urban-barry-camp-3237Recording date: 14th September 2023In a recent interview at the Beaver Creek conference, Bonterra Resources CEO Marc-Andre Pelletier outlined plans to advance the company's Urban Barry gold projects in Quebec. With over 3 million ounces of resources and significant infrastructure already in place, Bonterra sees an opportunity to expand resources and attract a strategic partner.Pelletier brings over 25 years of hands-on mining experience to Bonterra, having worked on projects across Canada. When he joined Bonterra last year, Pelletier saw the potential to add value by restarting production. The company pursued plans to resume mining at its Barry deposit, completing a PEA and starting a PFS. However, with operating costs escalating 50-100% in the Abitibi region, Bonterra put those plans on hold as they were no longer economically feasible.Instead, Bonterra has focused on cutting costs, generating revenue by processing old mill tailings, and preparing for a new 13,000 meter drill program. Cleaning up the mill recovered over 600 ounces of gold worth C$1.6 million, providing funds for operations. The drill program aims to expand current resources at depth, follow up on past drill results that lacked follow-up, and test some "wildcat" targets identified through geophysics and geology.With gold prices around $1,950/oz, Pelletier believes Bonterra's market valuation around C$25 million significantly undervalues its 3 million ounces of resources. He highlights the opportunity for new investors to acquire shares at current lows before the market turns. To better position Bonterra, Pelletier is also looking at strategic partnerships, joint ventures, or other transactions to increase resources towards a potential 6-10 million ounces and unlock more value.Located in Quebec's Urban Barry camp neighboring zones where Osisko Mining and Cisco Mining recently acquired projects, Bonterra is surrounded by major miners and appealing assets. Its mill, tailings facility, mining leases, and proven resources provide a solid foundation. Drilling offers resource expansion potential, while strategic opportunities could strengthen its position during a tough market. For investors willing to weather volatile markets, Bonterra represents a speculative buy with substantial upside if gold prices rebound.—View Bonterra Resources' Company Profile: https://www.cruxinvestor.com/companies/bonterra-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with George Bee, President & CEO of US Gold CorpRecording date: 14th September 2023US Gold Corp is advancing the CK Gold Project towards production in southeast Wyoming. In this interview at the 2023 Beaver Creek Precious Metals Summit, CEO George Bee provides an update on the progress and next steps for the project.Three years ago, US Gold pivoted from pure exploration to project development, focusing efforts on the CK Gold Project. CK Gold will be a shovel-ready project with an 8-year initial mine life producing 100,000 ounces of gold equivalent per year. The CEO states the project has robust economics even with inflation, maintaining an $800 per oz AISC based on $1625/oz gold and $3.25/lb copper.The company has been prudent with expenditures, recently raising $5 million to fund critical work. This includes finalizing permits and feasibility study ahead of project financing. Permitting through the state of Wyoming is at an advanced stage and will be a key derisking milestone. The feasibility study engineering is complete, with final equipment pricing needed to finish the report.US Gold believes CK Gold requires around $250 million in initial capital to construct. While not large enough to attract majors, it can appeal to mid-tier miners looking to add production in a stable jurisdiction like Wyoming. The company is also exploring creative financing options like equipment leasing and state subsidies to minimize equity needs.The CEO explains how three years ago the company was spread thin trying to explore multiple early-stage assets. By focusing efforts on CK Gold, they have been able to systematically derisk the project while conserving cash. The company still has prospective exploration ground in Nevada and Idaho that can be revisited when markets improve.Given weak market conditions, the company is currently undervalued trading around a $35 million market cap. However, the CEO stresses they are in a comfortable position financially and don't need to raise capital at depressed valuations. With permit approval and feasibility study imminent, CK Gold is poised to attract project financing to start construction when ready.US Gold Corp has leveraged its technical experience to advance CK Gold towards near-term production. The Project demonstrates robust economics even at today's inflationary costs. With permitting and feasibility study on the horizon, CK Gold is advancing rapidly towards a construction decision. The company remains well-funded through this critical phase, and with additional exploration upside, US Gold warrants a closer look by investors seeking emerging US gold production stories.—View US Gold Corp's Company Profile: https://www.cruxinvestor.com/companies/us-gold-corpSign up for Crux Investor: https://cruxinvestor.com