Company Interviews

Interview with Killian Charles, President & CEO of Brunswick Exploration (TSX-V: BRW)

Our previous interview: https://youtu.be/x_faHpTyBH4

Recording date: 23rd August 2023

Based in Montreal, Brunswick Exploration is a mineral exploration firm listed on the TSX-V with the ticker BRW. Their primary pursuit is the grassroots exploration of lithium in Canada, a vital metal pivotal to worldwide decarbonization and the shift to cleaner energy. Currently, the company is fast-tracking the broadest grassroots lithium property collection in Canada, encompassing regions such as Quebec, Ontario, Saskatchewan, Manitoba, New Brunswick, and Nova Scotia.

Interview with Frederick Bell, Executive Director & CEO of Elemental Altus Royalties (TSX-V: ELE)

Our previous interview: https://youtu.be/YBPJZ2a8Cm0

Recording date: 24th August 2023

Elemental Altus is a revenue-producing royalty firm specializing in precious metals, boasting 10 active royalties and a varied selection of assets from pre-production to discovery stages. The company's strategy centers on procuring unlimited royalties and streams linked to active or nearly active mines, managed by reputable partners, while also establishing royalties on fresh discoveries.

Interview with Luis Azevedo, Executive Chairman & CEO of Bravo Mining (TSX-V: BRVO).

Recording date: 23rd August 2023

Bravo Mining, an exploration and development company has the Luanga PGM, Gold & Nickel project in Brazil. This project is strategically located within Brazil's renowned Carajás Mineral Province.

The Luanga Project enjoys an exceptional geographical advantage, situated in proximity to operational mines and benefiting from well-established infrastructure like roadways, railways, and sustainable hydro grid power. Previously used for agricultural purposes, the project area is now a focal point for Bravo's Environmental, Social, and Governance initiatives. These include reforestation efforts, local employment opportunities, and vigilant environmental protection during exploration.

The company is led by a seasoned management team and board, each possessing extensive knowledge in Brazilian and PGM exploration. 

Interview with Neil Pettigrew, Director & VP of Exploration at Palladium One Mining (TSXV: PDM).

Recording date: 23rd August 2023

Palladium One Mining is a Canadian mineral exploration company focused on discovering environmentally and socially responsible metals for green transportation and the energy transition. They have district-scale projects that target platinum group elements (PGE), copper, and nickel deposits in world-class mining jurisdictions.

In Canada, the company is advancing the Tyko high-grade sulphide nickel-copper project in Ontario and the CanAlask project in the Yukon. Their flagship Läntinen Koillismaa (LK) project in Finland hosts a significant platinum-group-element (PGE) copper-nickel resource.

Palladium One is committed to responsible mining practices and creating value for all stakeholders as they unlock the potential of the portfolio of copper, nickel, and PGE assets. Their goal is to supply the metals essential for clean energy and electric vehicles while minimizing their environmental impact.

Interview with Tom Meyer, President & CEO of Archer Exploration (CSE: RCHR)

Our previous interview: https://youtu.be/8kHWhIPwLnU

Recording date: 22nd August 2023

Archer Exploration, based in Canada, specializes in Ni-Cu-Co-PGE exploration and development, boasting an impressive range of assets in Quebec and Ontario. The Grasset Project, positioned in the Abitibi Greenstone Belt, stands as their premier asset, showcasing an Indicated Resource of 5.5 Mt at 1.53% NiEq. Beyond that, Archer has a collection of 37 properties spanning over 300 km2 in the renowned Sudbury mining region in Ontario.

Archer's growth blueprint revolves around the exploration and advancement of its nickel sulphide properties. The company aspires to be a conscientious nickel sulphide developer in mining-friendly areas. Prioritizing social responsibility, Archer endeavors to operate safely, ethically, and with unwavering integrity.

Recording date: 22nd August 2023

John Ciampaglia, CEO of Sprott Asset Management, delves deep into the intricate world of uranium and its position in the global economy. Addressing the resilient nature of the uranium price amidst a volatile year for commodities, Ciampaglia highlights the robust demand and supply fundamentals that have shaped the market. With references to geopolitics, he underscores the importance of security in the supply chain, and the increasing need for countries to re-evaluate their alliances and trading strategies.

Moreover, as the global community pivots towards more sustainable energy sources, the role of nuclear energy comes into sharp focus. From potential risks like large-scale accidents to the promise of reliable base-load power, Ciampaglia discusses the critical aspects that will influence the future of nuclear energy. For investors, this conversation offers a clear perspective on the uranium market's trajectory, emphasizing the growth of uranium mining ETFs and the broader investment landscape in this burgeoning sector.

Nickel continues to bounce along the bottom of the $20,000-$22,000 ($9-$10/lb) range where it's been since early June and has only briefly broken $9/lb.  LME inventories remain near multi-year lows

Stainless prices are now moving higher in multiple markets which is generally a good signal for overall market conditions.  Over the last few weeks, have seen ore prices/NPI prices move higher, now joined by stainless prices in China and now in Europe as the market seems intent on restocking after spending most of the year destocking. Despite Chinese market weakness,  Chinese stainless steel production was up more than 11% in the first half 2023. Remember that stainless still more than 2/3  of global nickel demand so good sign that should see the expected demand improve through the balance of the year.

Quiet week news-wise

Talon Metals had good infill intercept using to look at the area of higher PGE content -  101.71 meters of high-grade nickel-copper mineralization grading 1.94% Ni,1.84% Cu, 0.35 g/t Pd, 0.64 g/t Pt and 0.62 g/t Au (1.61 g/t PGEt + Au) (3.04% NiEq) (see Table 1).

Everyone is entitled to their opinion, but commentator DrJimJones materially misstated a couple of facts in a recent piece on Canada Nickel Corp.

1. DrJimJones was quoting from PEA in May 2021 as to what needed to be spent for CNC to go to the next level, and then compared that amount to the June 2023 cash balance. Clearly just a mistake or conflation of data on his part. He may not have noted that since May 2021, CNC has raised nearly £$100 million in the interim to do what is needed, leaving their cash balance in a healthy position to finish their FS. I’m sure he would be willing to check and validate this, and shortly republish his thoughts using the correct assumptions.

2. It is also worth noting that Crawford produces a FeCr concentrate which has some nickel in it.  This product would make CNC the sole chrome producer in North America, and provide a low-carbon feed for the stainless market in North America (stainless steel is a mixture of nickel, iron, and chrome).  The stainless market in the United States has significant premiums -more than $800-$1,000 price premiums versus Asia, and conversion margins of $1,000 per tonne (or ~$6/lb premium per pound of contained nickel) so good to get units into this market.

3. In any technical report, always good to look at the assumptions.  Assumptions are only as good as a company that signs off on technical reports.  Lots of bad technical report companies out there.  CNC however uses Ausenco, who not only do studies but actually bid on & build these projects. Ausenco signed off on the overall report.  CNC’s work on the pricing for this material was done by CRU, a leading metal price consultancy, and SMR – the leading stainless and alloy market consultant.

4. Interestingly, iron price is not iron ore price – it is Fe scrap price in North America (which is how stainless feed material is priced) - it averaged $US407 per tonne in February 2023 according to USGS versus the $290/tonne number used in 2021 PEA. So DrJimJones talk of iron ore pricing and decline in iron ore pricing is again perhaps conflating data. Again I’m sure given the chance DrJimJones will choose to restate their thoughts and the impact of their conclusions for CNC.

5. And in addition, the current US ferrochrome price which was the basis for chromium pricing was assumed to be $1.04 per pound in the CNC 2021 PEA, whereas it averaged $3.08 in 2022, and was $2.55 per pound in June 2023.

6. Please also remember that Anglo American, one of the world’s largest mining companies, made a 9.9% investment in Canada Nickel so they must have been comfortable with the CNC project assumptions and their own year-long diligence process.

Interview with Jeremy McManus, General Manager of Commercial & IR for Neometals (ASX: NMT)

Our previous interview: https://youtu.be/8adhEHBSrz4

Recording date: 22nd August 2023

Neometals stands at the vanguard of sustainable battery material production, pioneering three eco-friendly processing technologies. These innovations primarily yield lithium, nickel, cobalt, and vanadium while ensuring cost-efficiency and a minimized carbon footprint. The company, along with its partners, has been internationally acclaimed for sustainable methods that emphasize circular economic principles, thus diminishing dependence on traditional mining-based supply chains. Their three key business units are introducing these novel technologies through joint ventures: firstly, their Lithium-ion Battery ("LIB") Recycling under Primobius GmbH (with Neometals holding 50% equity) collaborates with Mercedes-Benz and aims to provide recycling services, plant supply, or technology licensing. Secondly, their Vanadium Recovery technology aspires to extract high-grade vanadium pentoxide from steel-making by-products, with ventures in Finland and potential operations in Sweden. Lastly, their Lithium Chemicals initiative, co-owned by Mineral Resources Ltd, seeks to manufacture top-quality lithium hydroxide from varied sources, with pilot ventures set for 2023 and a prospective commercial collaboration in Portugal by 2024.

Interview with Andrew Chubb, CEO of Awalé Resources (TSXV:ARIC)

Recording date: 21st August 2023

Awalé is a diligent and systematic mineral exploration company focused on the discovery of large high-grade gold and copper-gold deposits. The Company currently undertakes exploration activities in the underexplored parts of Côte d'Ivoire. Awalé's exploration success to date has culminated in a fully funded earn-in Joint Venture with Newmont covering one permit and one application (the "Odienné Project JV") within the greater Odienné Copper-Gold Project in the Northwest of Côte d'Ivoire, where three significant gold and gold-copper-silver-molybdenum discoveries have been made. The Sceptre East and Charger discoveries have significant scope for growth with future discovery and resource development drilling. The project has multiple pipeline prospects that have similar geochemical fingerprints to Iron Oxide Copper Gold ("IOCG") and intrusive related mineral systems. The 400km2 of granted tenure and 400km2 under application remains underexplored and offers significant upside potential. The Odienné Project JV forms a solid foundation for the Company to continue exploring in a pro-mining jurisdiction that offers significant potential for district scale discoveries.

Li-FT Power is a company specializing in mineral exploration, focusing primarily on procuring, studying, and advancing lithium pegmatite ventures in Canada. Their premier undertaking is the Yellowknife Lithium Project situated in the Northwest Territories of Canada. Besides this, Li-FT Power possesses three promising exploration sites in Quebec, Canada, which have a high likelihood of uncovering concealed lithium pegmatites. Additionally, they oversee the Cali Project in the Northwest Territories, nestled within the Little Nahanni Pegmatite Field.