Company Interviews

Benchmark Metals Inc. (TSX-V:BNCH) - Yeah, Like I Pictured, but Even Better


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Interview with Jim Greig, President of Benchmark Metals Inc. (TSX-V:BNCH)A really encouraging gold-silver story that investors should be paying attention to.We last spoke with Benchmark Metals in September. What's changed? Benchmark Metals is a TSX-listed gold-silver advanced explorer in British Columbia, Canada. The company is looking to deliver up to 50,000m of drilling this year, a mineral Resource estimate, and a PEA. The track record of the team suggests they know what they need to do and how to do it, and the company has C$10M to ensure they do so..What is Benchmark Metals going to drill on? The preeminent focus is the Lawyers Project in the 'Golden Horseshoe' of BC. In the heart of the property, there are 5 zones within 3km of one another. Several of these zones produced 30-years ago at a high-grade, but now Greig foresees several open pits at surface. The drilling will build upon data from 2018, 2019, and historical data over 30-years ago. These zones are being extended. Rather than hunting for high-grade veins like companies have done in the past, Benchmark Metals has focussed on mineralisation at a deeper level: up to 150m.What is the game plan? Benchmark Metals is targeting multi-million ounces after this next round of drilling. In February, the company released an exploration target based on data from 1 of the 5 zones. The company put out a range of 1.7Moz to 1.9Moz at an average grade of 1.7g/t gold. With this next round of drilling, Greig believes he can increase the grade of the zone and bring the other 4 zones into the estimate. He thinks the company can move well beyond the potential of multi-million ounces. Benchmark Metals is fast-tracking the development of this project, so investors may be able to look forward to an accelerated value event. Because it's a brownfield type of play, there is a footprint to production that has already been mapped out, allowing Benchmark Metals to proceed faster. Like "any junior with an attractive project," Benchmark Metals would like to exit if a major comes along with an appealing offer.Greig is building something for sale. He knows his skillset and has no intention of going into production. He wants to be taken out. Senior members of the management team have been involved in the full gold cycle, from discovery to development to production, so investors shouldn't be concerned if there is an unexpected change in plan.What would a potential new suitor be looking into? Access to roads, a large power line, flat topography, no wildlife concerns and signed agreements with the local first nation. Benchmark Metals is fully permitted with a 5-year notice of work. Greig believes that if he manages to sit all these milestones, the company will be vaulting towards a +C$200M market cap. The major milestone events are what shareholders and investors are looking for. The management team are also big shareholders in the company, so they want to share in the success. The Senior statesmen of the company, John Williamson, was the director and founder of Kaminak Gold Corp. Back in 2016, it was sold to Gold Corp. for just over C$5M. Other members of the team have seen similar success, taking a $0.25 company to a $10 company.Lastly, Greig touches on the increasing gold price. An increasing gold price will eventually help Benchmark Metals capture the value it has struggled to attain. Gold producers are reporting estimates over and above expectations. At some point, this will trickle down to the junior miners, such as Benchmark Metals, because producers eventually need to replace gold resources and ounces. The catalyst for a major to takeover a junior comes when the major depletes its resources in the ground.  Company Page: https://benchmarkmetals.com/Make smarter investment decisions, subscribe here: https://www.cruxinvestor.comFor FREE unbiased investment information, follow us on Twitter, LinkedIn and Facebook:https://twitter.com/cruxinvestorhttps://www.linkedin.com/company/crux-investor/https://www.facebook.com/cruxinvestorTake advantage, hear it here first: https://www.youtube.com/CRUXinvestor
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