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-3315

Recording date: 14th September 2023

Cabral 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.
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