Interview with Guy Goulet, CEO & Steven Zadka, Executive Chairman, Cerro de Pasco Resources 

Our previous interview: https://www.cruxinvestor.com/posts/cerro-de-pasco-csecdpr-advancing-the-worlds-largest-above-ground-mineral-resource-6795

Recording date: 30 May 2025

Cerro de Pasco Resources has positioned itself at the forefront of a revolutionary approach to mineral extraction, targeting what CEO Guy Goulet describes as "the largest above ground mineral resource on the planet." The company owns mineral rights to 75 million tons of tailings and stockpiles from a historic mine originally financed by JP Morgan in 1906, representing a unique opportunity to extract value from previously processed material using modern technology.

The economic advantages are compelling. While traditional mining operations face costs of $50-250 per ton for underground extraction and $3-20 per ton for open pit operations, Cerro de Pasco can process tailings at just $1-2 per ton. This dramatic cost reduction, combined with grades averaging 4.3 ounces per ton silver equivalent, creates superior margin potential with minimal operational risk.

Recent drilling results have exceeded expectations, revealing substantial gallium deposits averaging 53 grams per ton across 40 holes, with the latest southern holes showing 86 grams per ton. This discovery gains strategic significance amid Chinese export restrictions on gallium, a critical mineral essential for semiconductor manufacturing and defense applications.

The project addresses significant environmental challenges affecting 67,000 local residents. The tailings currently produce acid water and pose health risks, making reprocessing the only viable path to environmental remediation. This creates strong community support and regulatory advantages rarely seen in traditional mining operations.

Beyond base and precious metals extraction, the company has identified substantial value creation opportunities through pyrite processing, with potential NPVs of $8-9 billion from producing sulfuric acid, direct reduced iron, and green hydrogen. These initiatives align with global decarbonization trends and Peru's critical need for fertilizer production following the cessation of Russian imports.

With Eric Sprott holding 22% ownership and sufficient capital to complete feasibility studies by mid-2026, Cerro de Pasco represents a de-risked entry into polymetallic extraction with multiple value creation pathways and strong ESG credentials.

Learn more: https://www.cruxinvestor.com/companies/cerro-de-pasco-resources

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