Junior Resource Investing

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CEO Toby Pierce of Tag Oil (Tao.V) provides an operational update on Tag's Abu Roash - F exploration. With their first ever well - a vertical reentry - now just a few short weeks away from releasing its IP30 numbers, signs are increasingly pointing to the fact that Tag's exploration thesis has been resoundingly confirmed by what they've found subsurface. Toby discusses preliminary drill results, as well Tag's plans for continued acquisitive growth in the coming months and years.

Time Stamps:

1:00: Why no IP24

2:30: What did this well do to your knowledge and confidence

4:00: Any surprises from the results

5:30: Current production rates

7:00: Barrels sold thus far

8:00: Quality of Recovered oil

8:45: What’s next?

10:00: Ordering and Maintenance Prior to Spud

13:00: Is June spud still a go? Potential for delays

15:00: How Long to drill the first horizontal well

16:30: How many stages will they frac?

18:30: Benchmark IP30 number for first horizontal well

19:30: M&A – where is Tag’s focus?

22:00: Unconventional vs conventional targets

23:30: Are they becoming known in Egypt

25:15: How far along is the M&A process

27:00: Growth through acquisitions philosophy

29:15: How to finance growth

31:45: Omega’s recent discovery on former Tag land package

33:45: Recent options exercising

Disclaimer The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

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Managing Director of iTech Michael Schwarz joins me today to provide an update on iTech's Lacroma Project, answering questions posed by investors. With a working geological model and more than a dozen assays in the lab already (and dozens more to drill) the next few months have the potential to be truly impressive for iTech.

Time Stamps:

1:00: Baseline commercial numbers for graphite numbers

2:00: low-grade vs. high-grade

2:45: Sugarloaf Results

4:00: What do these results tell us about Sugarloaf?

5:45: Update on Sugarloaf Met work

8:00: How many holes are involved in the Sugarloaf met process

9:00: Australian met work in addition to ANZAPLAN

11:30: Transferability of Sugarloaf knowledge to Lacroma

13:50: Visual cues from RC drilling with graphite

14:45: How is Lacroma looking informally/holes in the lab

16:00: Two weeks till assays

16:15: Update on Lacroma drilling

17:00: Meters and holes remaining on Lacroma

18:00: Flexibility of their drill campaign

20:00: Lab used for analysis

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

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Giga Metals is a Nickel Developer working on advancing its Turnagain Nickel-Cobalt project to production in BC’s Golden Triangle having signed a very exciting JV with Mitsubishi last fall and have a PFS expected in just a few short months. They have 7 billion pounds of Nickel M+I and trade on the TSXV under the ticker GIGA and on the OTCQX under the ticker HNCKF and in Frankfurt under BRR2.

Time Stamps:

01:20: Elevator Pitch

03:50: Company Dormancy and

08:40: Name Changes

10:15: Ownership

12:00: Why a larger share structure isn’t the worst idea

17:30: Mitsubishi as a partner

21:30: Permitting in difference jurisdictions

23:00: The importance of ethical production of nickel

24:30: Macro tailwinds

26:45: Mitsubishi as a partner 2.0

31:00: How much more of the company is up for sale?

31:50: FS and construction decision

35:10: Leveraged nature of Giga

38:40: Giga as an “If/Then” opportunity

40:00: Plans to improve economics for Turnagain?

41:20: Geological advantages of Turnagain

46:20: Support from local Indigenous communities

49:15: Updated expectation for PFS release

50:00: Final thoughts to Mark

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

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Chad Clovis, CEO of Karbon-X, joined me recently. Karbon-X is a carbon credit company that has invested in a portfolio of carbon reduction projects from around the world. But Kabron-X has two parts to it, combining the traditional carbon credit business model with a social media-focused personal carbon credit subscription model for people to lower their own carbon footprint.

Time Stamps:

2:00: Chad's Professional History

4:45: The Karbon-X Team

6:30: IPO and imminent TSXV listing

7:30: Share structure and ownership

9:00: Current and future value of carbon credits

11:30: Overview of Karbon-X projects

17:20: Capex and Opex

18:40: What is needed to be cash flow positive, revenue models, and

20:00: The “Karbon-X” App discussion

23:30: Planned roll-out for their app.

25:00: Marketing Plans

27:00: What will make Karbon-X sticky in a competitive sector?

29:00: Business model balance between credits vs. app

30:10: Valuation multiples for carbon credit companies

32:30: Catalysts in the short term

34:45: Future financing requirements

36:15: Final thoughts

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

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Electric Royalties is a royalty company with a growing portfolio of 21 separate royalties established to take advantage of the drive toward green energy and electrification. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk. The royalty model is an effective and intelligent way to diversify and reduce risk while still retaining exposure to the blue-sky upside that defines the resource sector. It trades under the ticker ELEC on the venture exchange and ELECF on the otc in the states.

Time Stamps:

01:30: Elevator Pitch

07:00: Explanation of the different types of royalties there are and their benefits

10:00: Brenda’s due diligence and selection criteria

12:20: Type of project they focus on – mineral, grade, jurisdiction, management

14:30: When to invest in a pre-production company.

15:40: Sector agnostic? Fully thematic? Bull thesis on the sector.

17:00: Balancing Electric’s portfolio between minerals

18:50: Added complexities of investing in and valuating royalty companies.

21:15: Valuation metrics to judge royalty companies by

24:00: Jurisdictional preferences and why Electric ended up in Madagascar with Graphmada

27:00: Greening the supply chain

28:20: Highlighting some of his favourite projects

28:30: Authier

29:00: Seymour Lake 30:20: Rana Project

31:19: Mont Sorcier Vanadium

33:20: Global resource outlook

35:15: Middle Tennessee and Penouta – current revenue streams

39:50: Annualised Revenue Rate

41:00: How involved is Electric Royalties after the deal is done

42:10: How long till Electric Royalties hits its stride in terms of revenue

44:10: Brendan’s professional history

47:40: Ownership %s of Electric

49:00: Discussion of use of Electric Shares in deals

51:00: Share count and overhang

51:55: Cash on hand

52:20: 2023 Catalysts

54:15: Final word to Brendan

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

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Ewan Webster, CEO of Thesis Gold, joins me today. Thesis Gold is a primary Gold explorer whose core project is the prolific Ranch project in BC’s Golden Horseshoe which consists of epithermal gold deposit and possible underlying porphyry mineral system. It continues to put out impressive, mine-making results in a district ripe for consolidation. It trades on the TSXV under the ticker TAU and on the OTC in the US under the ticker THSGF.

Time Stamps:

01:30: Elevator Pitch

02:20: Ewan’s career and its relevance to Thesis Gold

04:45: Origins of the Ranch Project

06:30: Relationship between Benchmark and Thesis

08:00: What drew Ewan to the Ranch project?

11:15: Assays remaining from 2022 drill campaign

12:30: What are you doing differently than previous explorers to find success with Ranch

17:30: 2022 Drill Season Recap

18:20: 2023 Exploration Plans

22:00: Drill season in the Toodoggone

23:40: Cost per meter

25:00: Local community support

27:00: How many meters of drilling going into new resource?

28:55: Logic of when to (or not to) release a resource

30:30: Share structure, ownership, etc.

34:10: Clarifying why Thesis’ auditor recently resigned

35:15: Met Testing

38:10: Carrying the project to the end vs. selling it

40:40: Recap

41:40: Timing of the PEA

42:00: 2023 Catalysts for Thesis

43:30: Final Thoughts

Time Stamps below. Please like and subscribe! Power Nickel (PNPN) Located in Quebec (Canada), Power Nickel's flagship NISK project is a high-grade nickel sulphide deposit positioned to be one of the greenest sources of class-1 nickel in the world. With access to abundant low-carbon hydropower and easy road access, NISK is well setup to supply the battery metals market with sustainably mined, environmentally-friendly high-grade nickel. 2022 was a year of important confirmation for Power Nickel. Drill results proved their Nisk targets were high-grade, bigger, and deeper than previously thought. With a rapidly expanding 2023 drill season being planned, this year could be a transformative one through the drill bit for PNPN.

Time Stamps:

01:30: What did phase 2 drilling completed last fall accomplish for Power Nickel? Confirmation of geological thesis, extension along strike and at depth.

03:50: Assays remaining on phase 2

05:10: Phase 3 plans

09:30: Increasing size of phase 3 – what that signals

10:45: Karbon-X Carbon Offset

12:10: Fleet space technologies and what their tech can do for Power Nickel

18:45: More rundown on 2023 use of 15,000 meters

20:30: 2023 PNPN upcoming catalysts and news

21:30: Power Nickel: Risk vs. Reward

22:23: “It doesn’t get much better than this”

22:55: Update on hole 23

23:50: Final thoughts from Terry

25:10: Where do things end for Power Nickel?

Time Stamps below. Please like and subscribe! Perpetua Resources is a late-stage developer focused on The brownfield Stibnite Gold Project in the abandoned Stibnite Mining District in mining-friendly Idaho. It is home to well over 4 million ounces of recoverable gold and one of America’s largest deposits of Antimony, a critical resource. It trades on the TSX and on the NASDAQ under the ticker PPTA. Time Stamps:

01:30: Elevator pitch for Perpetua

03:00: Laurel and her career experience

04:20: Jess and her career experience at majors

09:00: Perpetua’s Geos

11:00: Share structure

13:30: Cash-on-hand and burn rate and DoD funding

15:45: History of Perpetua’s Stibnite land package

18:00: Past environmental impacts

20:00: Use of their money to exceed baseline environmental regulatory standards

22:40: Recent public comment period on Perpetua’s Environmental Impact Statement, US Forest Service Approval

24:00: Orphan Period on the Lassonde and permitting.

25:00: Jurisdiction

27:00: Further discussion of permitting process – where they’ve been and where they’re going

30:00: Timeline for moving to construction

31:20: Derisking of permits not reflecting in share price appreciation

37:00: Macro tailwinds

38:00: Use of Antimony and its role as critical mineral, pricing, etc.

43:30: Any future exploration? Revisiting FS?

45:50: The deposit: grade, size, geology, planned mine strategy, strip ratio, etc.

48:50: Metallurgy and Recovery process

50:20: Favourable project economics

52:15: Further project optimisation?

53:45: 0-18 month catalysts

54:45: Final thoughts

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Invictus is opening one of the last untested large frontier rift basins in onshore Africa - the Cabora Bassa Basin – in northern Zimbabwe. The first high impact well, Mukuyu-1, came back agonisingly close to a discovery announcement and the company is now preparing its next move in this highly prospective basin. MD Scott MacMillan is here today to hopefully shed some light on the recent past as well as the near future of Invictus.

And please join the sister investing community: Community Investment Server:

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02:30: New Board Member John Bentley

06:15: Sneak Peek at new board member 12:00: Scott recaps the drilling of Mukuyu-1

19:50: “I think we’ve got something here”

25:30: Background gas

33:00 “The Discovery Perspective… but we had to stop because it wasn’t working”

35:15: Price of the Rig

40:30: Lessons to take from M-1

41:30: Timelines

42:00: LWD tool 46:30: Budget costs for M-1/ST-1 and paying for failed services

47:20: Market Response (and discrepancy) “I think there has been a fundamental misunderstanding of what we found”

49:30: It’s not a geological issue, it is a tool issue”

49:45: Chance of Success

53:30: Net Pay from samples (samples in the lab)

59:40: Geologist Questions

61:00: Depositional Environment

63:00: Source Rocks

64:40: Upper Angwa as primary target 67:00: Oil Samples Found Within the Sidewall Core

70:10: Seal “We saw a lot of seal in this basin and very effective” “You don’t get these sort of opportunities very often to join a company in this sort of phase”

71:50: Next steps. Seismic vs. Spud “We’ve got a big portfolio of prospects and leads”

74:50: Why not twin a drill hole just for a fluid sample just to gain a discovery

75:50: Stepping out

76:30: Resource Estimate

80:50: Rainy season and surface conditions 82:50: Long lead items and how much they’re ordering

84:30: Rig Upgrades and Repairs

87:00: Warm-stacking the rig

88:30: Schedule for the next 0-12 months

90:00: Thought process behind the decision-making on the next move

95:00: Farm-in and JV Interest

97:30: “The hard part is knowing where we should be” “It is something that has been missed by the market, and mispriced”

102:00: Upper Angwa Reservoir Quality

105:50: Financing

113:40: Parting Thoughts

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.

Time Stamps below. Please like and subscribe! And please join the sister investing community: Community Investment Server: https://discord.gg/aezrEwnx

Our latest guest, Michael Schwarz, is the Managing Director of Itech Minerals. Itech (ASX: ITM) has a number of different projects but is currently focused expanding the resource at the advanced Campoona Graphite Project in mining friendly South Australia and is well-positioned to take part in the rapidly growing renewable energy and battery materials market.

Time Stamps

01:30 – Elevator Pitch for Itech

02:40 – Macro Introduction to critical mineral graphite

04:20 – Description and Advantages of natural flake graphite

07:00 – spherical vs. synthetic graphite

08:30 – South Australia green energy

10:15 – Global Graphite Production

12:40 – Electric Vehicle Demand

14:00 – Demand Realities for Graphite CAGR

15:40 – Capex Intensity of Graphite

16:40 – Size of Itech’s project mine

17:30 – Geopolitics of Graphite and Australian Trade with China

18:50 – Green Graphite Focus

20:00 – No Spot Price for Graphite

21:50 – Price for Itech’s Graphite

23:20 – Price growth for graphite

24:30 – Length of time till production

25:50 – Introduction to Itech Minerals

28:15 – Itech’s Resource Portfolio

29:45 – Itech’s Project Philosophy

32:20 – Itech’s team

34:20 – Cash-on-hand and burn rate

35:00 – Drill Campaign and Sugar Loaf, Campoona, and Lacroma

37:45 – Cost Per Meter

39:00 – South Australia mining support

41:00 - Any ESG concerns

45:30 – Share count

47:00 Introduction to projects

48:20 importance of quality met work

49:15 – Mine Life Requirements

51:15 – Drilling target goal

51:45 – Cracking Sugar Loaf’s metallurgical code

52:45 – What is Sugar Loaf’s complexity?

58:00 – Location and Depth of drilling

61:30 – ANZAPLAN legitimacy

65:45 – What is Itech’s biggest unanswered question?

70:00 – 2023 Catalysts for Itech

Disclaimer The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.