Company Interviews

Recording date: 28th June 2023

Mark Selby discusses multiple nickel projects and provides insights into the current state of the nickel market. According to Mark Selby, the nickel price has finally reached the anticipated level of $9 per pound ($20,000 per ton), although there are concerns about a potential slowdown in China and the impact of inflation on rate hikes. Despite these concerns, Mark Selby expects the battery metals sector, including nickel, to rebound as restocking and increased demand in the battery supply chain continue. The discussion also touches on the behavior of other battery metals, such as lithium, which has seen a decrease in prices but remains significantly higher than a few years ago.

Mark Selby highlights the impact of Russian nickel imports in relieving tight inventories in China, leading to a compression of premiums and a convergence of prices. Several nickel projects are mentioned, including Talon's permit application for a mine in Minnesota, Arava's drilling activities near the Kabanga deposit in Tanzania, Centaurus' acquisition of off-take rights for a nickel discovery in Brazil, FPX's progress in pre-feasibility studies, and Texmod's promising metallurgical results for their nickel project. Additionally, the discussion briefly touches on carbon capture and storage projects in Quebec, which have attracted interest from large companies seeking carbon storage solutions. Overall, Mark Selby provides a comprehensive overview of the nickel market and various projects making progress in the industry.

Mr. Brandon Munro and Matt discuss various developments in the uranium market and nuclear energy sector. They touch upon topics such as the recent performance of uranium spot prices, the strong performance of conversion and enrichment prices, and the significance of these trends for the overall fuel cycle. The conversation highlights the agreement between the Belgium government and Engie to restart nuclear reactors, emphasizing the positive impact on the nuclear industry in Europe. Sweden is recognized for its commitment to clean energy goals through nuclear power, setting an example for other countries. The discussion also briefly mentions the use of an ATM shelf prospectus for raising capital and its effectiveness in North America compared to the ASX. Overall, the conversation provides insights into market conditions, geopolitical influences, and notable developments in the nuclear energy sector.

Interview with Gregory Hall, CEO of Alligator Energy (ASX:AGE)

Our previous interview: https://youtu.be/SveIT6bOcdI

Recording date: 3rd July 2023

Alligator Energy Ltd is an Australian, ASX-listed, exploration company focused on uranium and energy related minerals, principally cobalt-nickel. Alligator’s Directors have significant experience in the exploration, development and operations of both uranium and nickel projects (both laterites and sulphides).

Recording date: 23rd June 2023

Geoff Atkins is the managing partner of Strategic Minerals Group, a consultancy company with a strong focus on the rare earth industry. With over 15 years of experience, Geoff and his team provide valuable guidance to companies in transitioning from development to operational phases. They apply their extensive knowledge to advise on supply chain sustainability, ESG provisions, and the importance of responsible mining practices.

During a recent meeting of rare earth companies in Barcelona, Geoff observed a diverse range of attendees representing different sectors of the supply chain. The discussions centered around the need for certainty in pricing and supply, as well as the significance of sustainable practices throughout the entire supply chain. OEMs emphasized traceability and stable pricing as vital factors for their ability to pass costs onto customers and maintain competitiveness.

Geoff's expertise lies in helping companies successfully enter the production phase. He understands the challenges faced by rare earth developers and stresses the importance of proving their ability to produce high-quality products that meet specifications. Additionally, Geoff recognizes the financial aspects involved in rare earth production, including securing financing for pilot and demonstration plants. His aim is to support companies in establishing reliable supply chains and delivering projects on time and within budget.

Interview with Jason Kosec, President & CEO of Integra Resources (TSX-V: ITR)

Our previous interview: https://youtu.be/4QEKz8cb4Xk

Recording date: 29th June 2023

Integra Resources is a precious metals development company that specializes in the exploration and extraction of near-surface heap leachable ounces, primarily in the Great Basin region. Led by Jason Kosec, the President, CEO, and Director, the company focuses on maximizing the value of their resource base while mitigating risks and obtaining permits efficiently.

The company recently released a positive preliminary economic assessment (PEA) for their Wildcat and Mountain View projects, surpassing market expectations. The PEA showcased impressive financial figures, including an after-tax net present value (NPV) of $310 million, an internal rate of return (IRR) of 37%, and sustainable operating costs.

Integra Resources prioritizes risk management and expedited permit acquisition to ensure timely project development. Their flagship project in Idaho holds a significant position in their strategic plans, with efforts focused on submitting a comprehensive mine plan to the government. The company emphasizes de-risking strategies, stakeholder engagement, and baseline studies to support the efficient progress of their projects.

Interview with John Cash, President & CEO of Ur-Energy (TSX-V: URE)

Our previous interview: https://youtu.be/O4hbYSChDsk

Recording date: 29th June 2023

UR Energy (URE) is a uranium mining company headquartered in Casper, Wyoming. With a focus on sustainable and responsible mining practices, URE operates two flagship properties: Lost Creek and Header House 2-5. Lost Creek has been in successful production for over nine years and is currently undergoing a restart process to increase production. Header House 2-5 is under construction and will contribute to the company's production capacity.

URE has secured a significant contract with the Department of Energy to sell uranium at a price of $64 per pound, providing a stable revenue stream. The company has also raised $40 million in funding to support its operations and expansion plans.

The team at URE is committed to maximizing production and efficiency. They are implementing innovative mining techniques, such as the use of header houses, which are small buildings that manage injection and production wells. By employing a Five Spot pattern for injection and production, URE aims to optimize recovery rates and increase flow.

Interview with Anthony Rovira, MD of Azure Minerals (ASX: AZS)

Azure Minerals (AZS) is an Australian mineral exploration company focused on lithium exploration in Western Australia. Led by Managing Director Tony Rovira, the company is primarily engaged in the Andover lithium project, where they have been conducting extensive drilling operations. Their efforts have yielded impressive results, with wide and high-grade intersections of lithium mineralization being discovered in pegmatites.

The Andover lithium project is regarded as one of the most promising lithium ventures globally, leading to a significant surge in Azure Minerals' share price. The company initially acquired the project from Mark Creasy, a renowned prospector, and entered into a 60-40 joint venture partnership. Through their exploration endeavors, Azure Minerals has been able to shift the project's focus from nickel to lithium, substantially transforming the company's prospects.

Azure Minerals currently operates six drill rigs and has a budgeted drilling program of 40,000 meters, which is expected to be completed by August. The company has shown confidence in the project's potential by allocating resources for a potential 100,000-meter drilling program by the end of the year. They have a robust financial position, with approximately $20 million in cash reserves and a monthly expenditure of $3-4 million.

Interview with Randy Smallwood, President & CEO of Wheaton Precious Metals (LSE: WPM)

Recording date: 28th June 2023

Wheaton Precious Metals (WPM) is a prominent player in the mining industry, specializing in the streaming business model. With a history of almost two decades, WPM has established itself as an alternative form of finance for investing in the mining sector. Their unique approach offers investors an attractive and low-risk opportunity to participate in the precious metals industry.

As a streaming company, WPM provides upfront capital to mining companies in exchange for the right to purchase a percentage of the future production of gold, silver, and other precious metals at a predetermined price. This allows mining companies to access necessary funding while mitigating the risks associated with fluctuating commodity prices and operational costs.

WPM's business model has gained significant interest and attention, particularly in the gold sector. The company has witnessed a surge in investor appetite and increased attendance at institutional meetings. This elevated interest can be attributed to various factors, including global economic conditions, geopolitical uncertainties, and the enduring appeal of precious metals as a store of value.

Interview with David D'Onofrio, CEO of White Gold Corp (TSX-V: WGO)

Recording date: 27th June 2023

White Gold Corp (WGO) is a Canadian gold exploration company focused on uncovering significant gold deposits in the Klondike District of Yukon, Canada. With a vast land package in this historically rich region, the company has been actively exploring and making valuable discoveries in the past 15 years. White Gold Corp has established strategic partnerships with major mining companies like Agnico Eagle, enhancing its expertise and industry connections.

Led by CEO David D'Onofrio, who also serves as a principal at PowerOne Capital, a renowned merchant bank specializing in the mining sector, White Gold Corp combines extensive knowledge and experience in the industry. The company operates as a project generator, identifying promising exploration prospects and generating value for its shareholders.

With a strong shareholder base, including influential figures like Eric Sprott, Agnico Eagle, Kinross, and management, White Gold Corp demonstrates credibility and support from key players in the industry. The company aims to optimize its success by leveraging its partnerships, expertise, and strategic investments to advance exploration projects and ultimately maximize shareholder value.

Interview with Christian Easterday, CEO & Managing Director of Hot Chili Ltd. (ASX:HCH)

Hot Chili Ltd (ASX/TSXV: HCH, OTCQX: HHLKF) is well positioned to benefit from the looming structural shortfall in the most critical commodity of them all – copper.  The Company aims to build shareholder value through the growth and development of its high-quality Costa Fuego copper project, located in a low elevation and accessible region of northern Chile.  Costa Fuego is rated by S&P Global Market Intelligence (2022) as one of the top 10 “low risk” undeveloped copper projects globally.

With substantial mineral resources already defined and an active drill program testing new targets underway, Hot Chili provides substantial leverage to the copper price due to the size, quality and low economic hurdle location of its resource base. Costa Fuego has an indicated resource of 2.8Mt Cu, 2.6Moz Au and 67kt of Mo (in 725Mt) and inferred resource of 0.6 Mt Cu, 1.2 Moz Au and 13kt Mo (in 202Mt).  

Hot Chili recently obtained secondary listings on the TSXV and OTCQX to better align with the exchanges of its global copper peer group.  The Company aims to narrow the relative valuation gap between large Australian copper developers and their North American listed peers, particularly as the general market starts to appreciate the medium term structural deficit in copper – the critical commodity – and the copper price required to incentivize new production.