Interview with Matthew Lennox-King, President and CEO of Contact Gold Corp. (TSX-V:C)

Contact Gold Corp. is a TSX-listed gold exploration company focussed on making district scale gold discoveries in Nevada. Contact Gold Corp. has extensive land holdings, predominantly on the renowned Carlin Trend, in addition to the Independence and Northern Nevada Rift gold trends, all of which host a ubiquity of gold mines and deposits. Contact Gold claims these areas offer 'world-class' access to gold. Contact Gold’s holdings are 217km2 in size. Projects range from early- to-advanced-exploration, and resource definition stage. Contact Gold Corp. is "100% focussed on Nevada and high-grade oxide gold" all at surface.

Contact Gold Corp. started the year with a share price of CAD$0.37. The market performance throughout the year has been poor, falling almost constantly (despite slight rallies in June and August) to just CAD$0.17 today. In such a good year for gold, Explorers and Developers have failed to capture this upside or indeed the imagination of prospective investors or existing shareholders. Contact Gold Corp. has a market cap of CAD$14M. Lennox-King attended the 121 conference in an attempt to "raise the awareness profile of the company;" after all, Contact Gold Corp. has only been around for 2 years and lacks exposure in Europe.

Contact Gold Corp. is at a very early stage in its development cycle. Contact Gold Corp. is looking to capitalise on a "looming lack of supply" in the gold market presumably from mid to large caps looking to building their Inferred category. Lennox-King states the company currently sits on CAD$1.2M, and has capital from institutional investors to push the project forward for the next year. Shareholders will be hoping for some kind of return soon as Contact Gold Corp. builds its knowledge of what it has.

Lennox-King states Contact Gold's USPs are the strength of its assets and the excellence of its team. The assets have a +2km of strike length with multi g/t gold at the surface. Their plan is a tried and tested formula. There is nothing revolutionary about Contact Gold Corp.; the extensively experienced management team stands out a little from the abundance of gold juniors in Canada and internationally, but there needs to be more before investors can get excited. Lennox-King pushes the favourability and stability of the mining constituency (Nevada) along with particularly prospective geology as a further reason to believe.

There is however an exciting fact about Contact Gold. In terms of remuneration, company directors receive zero cash remuneration and instead receive DSUs. This keeps more capital in the company. Management draws a salary, but Lennox-King claims to have effectively paid his own wage, as he put over CAD$1M of his own capital into the company in 2017. Lennox-King has a "way to go" before he gets close to getting his million dollars back. It's a similar story for the remainder of the management team.

Company page: http://www.contactgold.com 

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Interview with Alex Holmes, CEO of Plateau Energy Metals (TSX-V:PLU).

Plateau Energy Metals is a Canadian based company with assets in South East Peru: the Falchani lithium project and the Macusani uranium project. Holmes touches on the qualities of Plateau Energy Metals' management team, but with uranium and lithium markets performing as poorly as they are, the company's share price performance is far from surprising.

Plateau Energy Metals started the year with a share price of CAD$0.72, but has travelled along an almost constant, worrying slope to the current price of CAD$0.18. This is even more concerning when you consider the company was at CAD$1.50 less than 18-months ago. The company is at its lowest share price since it was founded in 2006. What hope is there of recovery?

As far as the commodities go, Plateau's hands are somewhat tied. Uranium and lithium need to come back into fashion, but the question is when? How long can Plateau Energy Metals survive? The company has just CAD$500,000, a sum that will almost certainly not be enough: the burn rate is CAD$50,000 per month. Fundraising seems inevitable, which will lead to further dilution. And what could they hope to do in this market. What does Holmes think?

Plateau Energy Metals has been in dispute with the Peruvian government regarding late good standing payments on 32 mining concessions. Holmes is insistent they were "down to the wire" because of issues of the ministry's own making, but weren't late. My dog ate it... My mom threw it in the garbage.

Holmes did provide some reasons to be optimistic. He claims there is a lack of spodumene projects in the market, like Plateau Energy Metals is dealing with, in development today. He also points to the macro story of lithium, and the strength of the small market size with an growth forecast trajectory. It is a similar macro story building for uranium.

Plateau Energy Metals claims to be led by an 'experienced leadership team.' There is no doubt the commodities may be relevant in the future, but we ask is the company relevant now? Holmes replies.

Company page: https://plateauenergymetals.com/

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Interview with George Paspalas, President & CEO of MAG Silver Corp. (TSX:MAG)

MAG Silver Corporation is a huge player in the silver market; they are a Canadian exploration and development company with a preeminent focus of becoming a top-tier primary silver mining company. MAG Silver's central strategy is to explore and advance high-grade, district scale, silver-dominant projects in the Americas.

MAG Silver Corp. has an enormous market cap of $888.52M. Share price performance for the year is good, starting at $7.62, rising to a peak of $13.49 in September, before settling at the current value of $10.27. After a reduced level of performance in the market last year, MAG Silver Corp. is on its way back to the highs seen during 2016 and early 2017.

The massive market cap will lead many investors to the same questions: why are you attending the 121 conference, and why do you need new investors? Paspalas answers the question informatively, stating for the modest conference fee, the 121 is an incredibly efficient way to talk in-person to a multitude of shareholders. In addition, Paspalas hopes to whet the appetites of new shareholders, particularly HNWIs/smaller funds; this will enhance MAG Silver Corp.'s liquidity.

The dominant focus of MAG Silver Corp. is their asset, the Juanicipio Property (44%), which is being constructed in partnership with Fresnillo Plc (56%); Paspalas calls it "the highest grade undeveloped silver property in the world." It is located in the Fresnillo Silver Trend in Mexico: the 'world's premier silver mining camp.' Surface and underground infrastructure is being implemented to support a '4,000 tonnes per day (silver) mining operation.' In addition, MAG Silver Corp. has a large exploration program in place targeting promising targets throughout the property.

MAG Silver Corp. are hoping to encourage new investors on board by the strength of their management: in recent weeks a large scale sell-off of shares from a major shareholder could have pushed the company into deep waters, but MAG Silver Corp. has "weathered the storm" well. The management team is wonderfully experienced. They have been around for decades, and have had particularly useful experience during silver's punishing down cycle during the 90s. Paspalas is also a major shareholder: he has spent his own money on over "200,000 shares," and would love to see dividends come to fruition for all shareholders. With MAG Silver Corp., there are "only 8 people," but the "grey hair" of experience they possess is certainly unique.

Company page: http://www.magsilver.com/

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Montage Gold Corp is a private mineral exploration company with an extensive portfolio of gold projects in Côte d’Ivoire.

Montage Gold Corp formed by combining Ivory Coast projects: Orca Gold Inc.’s (TSX-V: ORG) and Avant Minerals Inc. Stuart states the Ivory Coast has a favourable mining code.

Montage Gold has multiple projects across the Ivory Coast, with the Morondo project and the Bobosso project being most significant. The outright flagship project, Morondo, possesses an Inferred Resource of 34Mt grading 1.1g/t for 1.2Moz of gold at a 0.7g/t cut-off grade. Montage Gold has 4 outstanding mining applications and numerous exploration permits. Their intention, and USP to a certain extent, is to explore the unique, untapped potential of the Ivory Coast. Stuart argues the less a constituency has been explored, the greater the technical chance of making a discovery.

Montage Gold claims to have 'notable shareholders, including Lukas Lundin;' Stuart claims most of the management team are significant shareholders: a reassuring fact. Furthermore, Montage Gold's management team is geologically sound.

Montage Gold claims to have an impressive $11M in cash, and their long term goal is to develop a sizeable gold mine. Montage Gold's immediate focus is on Morondo; it is a very early stage discovery (only around 18,000m of drilling) with a resource c. 1.2Moz. The grade is just over 1g/t. Morondo is intended to be the start of a sizeable gold mine that is amenable to open-pit mining and has a very low strip ratio with good metallurgy. Stuart believes the project has the potential to be c. 2.5Moz.

Montage Gold is currently in the process of going public, and hope to complete this process in Q2/20. Stuart's justification for this change is increasing Montage Gold's ability to procure capital investment, and to crystallise the value of the company.

What did you make of Hugh Stuart? What separates them from any other gold junior? Is the Morondo project exciting to you? Comment below and we may just ask your questions in the near future.

Company page: https://www.montagegoldcorp.com/

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Interview with Jeremy Mcmanus, General Manager of Commercial and Investor Relations for Neometals (ASX:NMT)

Mining Intelligence is phrase we like. Mining Derivatives is another. Why? Because there are some companies that can give you exposure to mining investment but without the risks and a lot of upside.

Take a look at NeoMetals. They made their money with Lithium mining project, Mt Marion in Australia, and timed their exit beautifully. They pocketed c.AUD$140M, not only that they have returned c. AUD$45M to shareholders. And they have retained an option on the Lithium spodumene. A smart piece of negotiations. And that typifies their approach to business.

Neometals has three projects, the most exciting of which is their battery recycling business. So while a lot of companies are telling us how the EV revolution because of what they will be putting in to batteries, NeoMetals is telling us what they are going to take out of batteries through their recovery process for spent or dead batteries.

McManus views Neometals as a "project development business." Neometals has a variety of assets with differing commodities, but the battery thematic is the key driver. There are 3 core projects with Neometals' focus: the Barrambie Titanium Vanadium Iron Project in Western Australia, a Lithium Refinery Project and of course it most advanced project, the battery recycling business

Neometals Ltd has a market cap of AU$111M. It started the year with a share price of AUD$0.24, reached a peak of AUD$0.26 in May, fell to a low in September of S0.17, before re-stabilising at today's price of $0.20AUD.

Having identified the growing demand to recycle lithium batteries as a focal point, the company is working towards commercialisation of its proprietary process for recovering cobalt, nickel, lithium and other valuable materials from spent lithium batteries. Neometals' pilot process has generated a high purity (+99%) cobalt sulphate product at a high recovery rate (+98%).

Neometals' management has created an ecosystem of experts in their field with the ability to solve complex problems currently related to lithium, titanium and vanadium.

Neometals hydro-metallurgical recycling method is unique. And with strategic partnerships, supply lines and MOU's already in the bag, the ecosystem seems to be close to delivering on its ability to move the pilot in to commercial reality at scale in Europe. We follow this story with great interest.

What did you make of Jeremy Mcmanus? Is Neometals the answer to our waste-related problems? Are they a better bet than a conventional junior mining company?

Company page: https://www.neometals.com.au/

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Interview with David Mason, CEO of Dark Horse Resources (ASX: DHR)

Dark Horse Resources is an Argentina-focussed mineral resource company with gold and lithium projects. Dark Horse Resources has ambitions to discover a multimillion ounce gold deposit and be a producer of high-grade lithium to help fuel the EV revolution. Dark Horse Resources intends to be a lithium hydroxide and gold bullion producer within several years.

Dark Horse Resources' share price is somewhat worrying. Starting the year at just AUS$0.008, the price has remained largely stagnant but for lows of AUS$0.003 throughout the year. It currently sits at AUS$0.003 with a market cap of AUS$6.88M; this is close to an 8-year low. The company has over 2Bn shares: a huge number that might be acceptable by Australian retail standards, but would be a major concern if listed on the TSX or AIM.

Dark Horse Resources has several projects in Argentina: Las Opeñas Gold Project, the Cachi Gold Project, the Central Argentina Lithium Spodumene Project and the San Jorge Lithium Brine Project. Dark Horse Resources is presenting various licences on these assets as an incentive to invest, but all are exploration risk stage and work has ceased due to the depressed state of the lithium price and lack of incentive for new entrants. If the company can afford to keep licences, permits and other services to maintain these properties in good standing, they may at some future date hold some value but there is none to be seen currently. There is a lot of talk of potential and hopes but nothing of substance yet: a familiar story with early stage junior exploration companies.

David Mason is keen to stress the management team is not involved with Dark Horse to make a quick buck: they are fully committed to seeing the project through to success. He explains that the management team has experience turning several small million-dollar companies into billion-dollar companies: encouraging news for any prospective investor. Non-Executive Chairman, Nicholas Mather, has been involved in the junior resource sector at all levels for 35 years. David has certainly earned his stripes too. There should not be concern as to the managements' general competency, but there are perhaps some question marks regarding their active specialised knowledge of lithium and gold mining. Dark Horse Resources is currently in the process of raising AU$1m for the purpose of beginning gold drilling at their flagship Cachi Gold Project, and Las Opeñas Gold Project. There are two ways to interpret such a raise: 1. Anti-dilutory, only raise what you need. 2. What in reality can $1M deliver before the company needs to come back to the market to raise more capital? Mason says he is 'certain,' we aren't so sure and it will be interesting to see if the market is as accommodating with this sales pitch. There is still a long way to go on the lithium front. Gold is clearly the focus here, but investors will note that few gold companies are seeing the current resurgence in gold affect their share price. Lithium exploration companies the world over are in deep waters. Research suggests that current South American producers will be able turn on the tap at will making life difficult for explorers. So Dark Horse has a lot of work to do to convince us it is the company to buck the trend.

The management team is clearly backing Dark Horse Resources; Mason claims they remunerate themselves purely via shares and have no salary whatsoever. 

Company page: https://www.darkhorseresources.com.au/

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Interview with Christopher Gerteisen, General Manager of Nova Minerals Ltd (ASX:NVA)

Nova Minerals is a minerals explorer and developer, listed on the ASX, focussed on district scale gold and advanced lithium projects in North America. Nova has 2 core projects: the flagship Estelle Gold Project, Alaska (poised for growth) and the Thompson Brothers Lithium-Cesium-Tantalum Project, Canada (cash flow ready). Lastly, Nova Minerals has a bonus project in the form of the Officer Hill Gold Project in Australia. All projects are in "safe, favourable jurisdictions."

Nova Minerals has had a fairly stagnant share price this year, reflective of poor lithium market performance, and unable to take full advantage of the rise in the gold price since August; Nova Minerals started the year at $0.02AUD, rode the rising gold price to a peak of $0.07AUD in September, before falling back down to $0.036AUD today. Nova has a market cap of AU$33.55m.

Gerteisen states the management intends to take the project all the way, evidenced by the managements teams' large personal investments in the project. They intend to make it the "next world-class operation in Alaska."

Lithium has had poor spot price performance for the last couple of years, but Gerteisen is keen to emphasise Nova's unique position: dealing directly with a Chinese group and employing an offtake agreement helps avoid the unfavourable Western lithium markets in favour of a market where lithium is desperately needed to instigate the EV revolution and clean the incredibly polluted city air.

The Estelle gold project was obtained by Nova Minerals after the previous company ran into trouble courtesy of a falling zinc price. Nova Minerals began geophysics at the site in 2018. Based on their ground IP charge-ability results, they identified 4 "very strong anomalies:" Target A, B, C and D. These anomalies are consistent with historic drilling results. In June-August 2018, Nova carried out their own resource drilling programme over Target A and B. Based on these results, they defined their resource at 2.5Moz: 180M tons at 0.44g/t; this is a clear bulk play.

Nova Minerals is trying to avoid diluting as much as possible and are in conversations with potential partners across Australia and beyond. Ideally, Nova would like to obtain a strategic "cornerstone partner" in the form of a "big mining house" such as the giant Kinross Gold Corporation. Nova is confident they can operate year-round at their asset sites once the appropriate infrastructure has been put in place; one such consideration is the potential transportation of gold at the Estelle Gold site via train or truck.

Nova Minerals have a management team with vast experience in finances and construction, but there might be question marks posed regarding their experience at a mining company. However, Gerteisen is insistent Nova Minerals isn't a "lifestyle company." It is instead a "full endeavour" with an active intention to see it through to full success, "every cent" they can "put into the ground, they put into the ground."

Gerteisen concludes with Nova Mineral's USPs: a 20-30 year mine life, a district with a ubiquity of gold-filled mines, a committed management team and incredibly favourable jurisdictions.

What did you make of Christopher Gerteisen? Is Nova an exciting prospect, or is it an unrealistic proposition? Comment below and we may just ask your questions in the near future.

Company page: https://novaminerals.com.au/

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Interview with Scott Williamson, Managing Director of Blackstone Minerals (ASX:BSX).

Blackstone Minerals is an ASX-listed nickel-cobalt-gold company exploring the Ta Khoa Nickel Project in Vietnam, the BC Cobalt Project and gold and nickel projects in Western Australia. Blackstone Minerals has made their Vietnam project its flagship after plummeting cobalt prices generated, in part, by ethical mining issues in the DRC.

Blackstone Minerals has 4 assets in 3 disparate countries. There are obvious concerns regarding Blackstone's ability to operate efficiently, especially given its small size (a market cap of AU$22.05M). Williamson accepts the difficulties of such an operation, but insists having assets kept as a contingency is a necessity for juniors. Williamson is keeping the BC Cobalt project in good standing after 2 years and AU$3-5m dollars investment. He insists in the right market it has the potential to be worth as much as AU$100m, and is currently spending around AU$200,000 per year to maintain it.

Blackstone Minerals plan to ride the wave of increased nickel demand generated by the EV revolution and decreasing cobalt demand. Williamson claims the Ta Khoa mine is ready to go very quickly when the moment is right; it operated as recently as 2013-2016. Williamson sees potential investment from battery manufacturers who could be tempted to invest in mining companies at source rather than buy on the open market; they would enter at the downstream processing level and try to secure supply for the next 20-30 years.

Blackstone cites the previous production at the asset as an example of a reduced level of risk for investors. Blackstone is also working to avoid dilution as much as possible by diluting at an asset level where possible. Blackstone's Silver Swan project is another project ready to drill, once the focus has shifted from the fast-returning Ta Khoa project.

Williamson is keen to share the virtues of Blackstone's management team. Blackstone has a strong geological team that previously operated the mine and have been maintained by the previous vendor. The team has strong governmental relations and the vendor is a metallurgist. One of the team has a pHD in geology and has worked on the asset for 20 years. There are several members of the board who have experience turning small companies into AU$100M+ companies.

Blackstone Minerals started the year with a share price of 0.13AUD, reaching a peak of 0.19AUD in September, but is currently sitting at 0.12AUD.

Company page: http://blackstoneminerals.com.au/

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Interview with Derrick Weyrauch, President and CEO of Palladium One Mining (TSX.V: PDM)

Palladium One Mining Inc. is a TSX-listed PGE and Nickel-Copper exploration and development company. It possesses several assets: the flagship Läntinen Koillismaa PGE-Nickel-Copper Project in north-central Finland and the Tyko Nickel-Copper, PGE Property near Marathon, Ontario, Canada.

The key theme at play is strong fundamentals. Palladium One published their first resource for the company in September: 1.2m ounces of palladium equivalent (split 50/50 between indicated and inferred). Palladium has a strong foundation of demand and limited supply.

Palladium is an industrial metal: 86% of it is consumed in an auto-catalyst, and it is predominantly used in gas engines. Using palladium allows for cleaner air, making palladium a modern, green solution to transportation headaches. The death of the diesel engine is resulting in greater demand. There has been a structural deficit of palladium in the market in recent years, and Palladium One is hoping to fill that gap. The market is small at around 10m ounces. There are additional applications of palladium in the form of dentistry and jewelry.

Palladium One is in the process of closing a non-brokered private placement for $3.8m dollars. Renowned Candian businessman Eric Sprott is investing $1.2m, giving him a 19.9% ownership of Palladium One.

Weyrauch explains another ace up Palladium One's sleeve: Finland is an excellent jurisdiction with "first-world geological data sets." This area is heavily researched and underexplored: an exciting combination.

Palladium One has a brand new management team and board as of 2019. Dr. Peter C. Lightfoot, a 20-year nickel exploration veteran at Inco and Vale, clambered aboard in September. Neil Pettigrew, a geologist with 20 years of mineral exploration experience, serves as Palladium One's Vice President - Exploration. Weyrauch's primary experience comes in the world of finance, but he has experience restructuring mining companies and experiencing success.

Weyrauch claims the main obstacle for Palladium One is the same as for every other junior: raising capital. Weyrauch has used the accurate historical data, obtained in Finland, to successfully push the Palladium One story. He claims the reason behind the lack of exploration under previous stewardship at the property comes from economic downturns of palladium rather than a lack of promise.

Palladium One's strength comes from the fundamental promise of their flagship asset, and the fundamentally robust level of palladium demand.

Palladium One has a market cap of CA$2.94M. It started the year with a share price of just 0.04CAD, rising to a peak of 0.14CAD in April, before falling back to its current value of 0.075CAD.

There will be questions marks around the management team's experience in this particular field, and the commodity itself. The palladium market is small, and with the impending EV revolution, battery metals would demonstrate enormously greater growth potential in the automotive sector. By the time Palladium One would be ready to mine, would EV be taking hold? It is a question of whether investors buy into the macro story of palladium, and can trust the team at Palladium One to deliver on an asset that has failed to be mined under several previous companies.

What did you make of Derrick Weyrauch? Is palladium worth your time, attention and money? Do you have any idea what palladium looks like (I certainly don't)? Comment below and we may just ask your questions in the near future.

Palladium One Mining Inc. is a PGE Nickel-Copper exploration and development company. It possesses several assets: the Läntinen Koillismaa PGE-Nickel-Copper Project in north-central Finland and the Tyko Nickel-Copper, PGE Property near Marathon, Ontario, Canada.

Company page: https://www.palladiumoneinc.com/

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Interview with Juan Gavidia, CEO of Orvana Minerals Corp (TSX:ORV)

Orvana Minerals is a multi-mine gold-copper producer listed on the TSX with assets in Spain and Bolivia. Gavidia claims Orvana is a "100,000oz gold producer." In addition, Orvana Minerals has recently filed a PEA for the Taguas Mining Property golf-silver project, Argentina. There will be concerns regarding Orvana Minerals' ability to operate effectively given the disparate locations of its assets, but Gavidia insists regular flights are nothing more than a mild inconvenience.

Orvana Minerals started the year with a share price of 0.16CAD, rising to an encouraging peak of 0.40CAD in August, courtesy of a rising gold price and the announcement of Oravana's Argentinian asset, before plummeting back down to a worryingly stagnant 0.14CAD as of today. The company has a market cap of CA$19.13m and around $10m in the bank.

Gavidia alleges that market perception regarding liquidity is a large problem: Orvana Minerals has a 52% controlling shareholder. Investors may feel this perception is a reality, but Gavidia insists there is still 48% to play with, but the market simply chooses not to.

Another issue is getting the new Orvana story out to prospective investors; since the successful introduction of an operational strategy that focused on lowering unitary costs and extending life-of-mine of operations, while maximizing cash flow, Orvana has seen a reduction from a $1400 AISC to an $1100 AISC. Gavidia hopes to reach closer to $1000 next year.

Orvana Minerals are currently discussing if the TSX is a limiting factor for them, and will make a decision in the near future regarding where the place to be is. Gavidia cites the company's production performance in addition to its experienced management team as reasons to climb aboard the Orvana train.

Orvana has good assets and could be a prospect in the future. However, with gold having as good a year as it has, investors might be worried that a gold company is struggling so much.

What did you make of Juan Gavidia? Is Orvana Minerals a company of the future? Comment below, and we might just ask your questions in the near future.

Company page: https://www.orvana.com/

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