Junior Resource Investing

JRI 34: Ewan Downie and i-80 Gold: “Quality of assets, quality of jurisdiction, with infrastructure”

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This is one I am excited for. Ewan Downie of i-80 Gold joins me. If you follow this sector closely at all, you will likely already know i-80 Gold. They’re a bit of an industry darling. And deservedly so - they have a great team, operate in the best jurisdiction in the world, possess rare, critical, game-changing infrastructure, and proof-of-concept production has already begun setting an ambitious mine plan in motion. Oh, and did I mention nearly 15 million ounces of gold? The man who heads this project, Ewan Downie, is in the same category as his company: If you don’t know who they are, you should. Ewan brings with him a string of wins in the form of operating mines as his work experience. No small feat in this sector. He is a strong and articulate advocate for the mining industry and when he speaks people listen. Ewan was gracious enough to sit down with me for a lengthy, far-reaching interview that covers i-80 and its unique set of advantages, but also the overarching philosophy behind him and his company, as well as a strong discussion on what it takes to be a successful investor in this sector.
Time Stamps
01:00: How Ewan got his start
03:00: Successes, failures, and lessons learned from his early days.
07:00: Introduction to i-80: Granite Creek, Cove, and Ruby Hill
11:45: i-80 pitch and slide deck.
22:10: Developers – what is i-80’s approach?
28:00: What is i-80 doing different that is so important
32:00: Length of time to get to production – good and bad
33:50: Why Nevada jurisdictionally works so well -permitting
39:00: Public Perception of Mining
43:15: Bullish, bearish, or neutal, on general markets
48:30: Gold Explorer Sector Discussion
56:00: Advice to retail investors
57:00: Cautions with Exploration stories
61:20: Red flags for companies for Ewan
65:10: Importance of Jurisdictional Safety to Ewan
68:00: Timing entries into exploration and development companies.
69:50: 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.

JRI 33: How to succeed investing in the mining sector with Peter Boockvar

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Time Stamps Below
Peter Boockvar is the Chief Investment Office of Bleakley Financial Group, a $9B wealth management firm. Prior to Blea ley, Peter spent multiple decades working within various funds and firms and possesses a lifetime of relevant experience and expertise. He is a regular contributor to CNBC and other news outlets and is the editor and founder of "The Boock Report". https://boockreport.com/ Peter joins me for a ranging conversation that covers topics such as his firm and his investing philosophy, macro conditions impacting the commodity sector, to investing tips for retail investors.
Time Stamps:
01:30: What Bleakley is
03:30: How to handle jurisdictional risk
07:50: The risks of the metals sector
08:30: Are companies “too small” for Bleakley?
10:00: What is Bleakley long on
11:40: Supply and Demand Concerns in Commodities
17:00: Why is gold not responding predictably
18:00: Historical analogues and when we might expect gold and gold explorers to rerate
21:10: What sort of exposure/value does Bleakley place on Royalty/Producer/Developer/Explorers?
22:40: Catching a cycle in Gold
26:30: Advantages of Explorers
27:45: Advice for retail investors in the commodity sector – controlling yourself and your emotions
31:50: What too look for in companies
32:30: What to avoid
34:00: The trigger for the next generalist bull market in metals
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.

JRI 32: Kodiak Copper goes Elephant Hunting. Why KDK’s 2023 has so much potential for investors.

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CEO Claudia Tornquist joins me to recap Kodiak's 2022 and preview their 2023 drill campaign. 2 drills confirmed, 25,000 meters. With 4 or 5 targets that have never before been drilled at depth, Kodiak offers this drill season an exciting opportunity for exposure to legitimate exploration and discovery opportunities as they continue to master their MPD porphyry system.
Time Stamps Below:
00:58: Cash-on-Hand and No Outstanding Debt
01:45: Recap thoughts on 2022 drill campaign
05:57: 2023 Exploration Targets
08:50: # of Drills, Early updates to 2023 exploration
10:50: Non-drilling exploration
12:00: 2023 Drilling plans, new and old targets
13:40: Where will the meters go?
16:25: Assay turnaround time
16:55: Mohave Update
18:10: Recap and potential for transformative discovery
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.

JRI 31: Thesis Gold. ”We think that this project has the scope and scale to be a world-class asset”

Thesis Gold (TAU.V)
Check out my writing at https://juniorresourceinvesting.substack.com/
CEO Ewan Webster comes onto the show for an update to explain how the recent proposed merger between Thesis and Benchmark increases the likelihood of a successful project, both for management and investors. The new, amalgamated company would straddle the line between exploration and development. With lots of geological potential left, and an updated MRE and PEA expected over the next 12 months, Thesis seems like a distinct value play with limited downside risk in a field of undervalued juniors.
 
1:00: Logic behind the merger
2:50: Why now?
4:30: Next 12-15 months
7:10: How to make companies at two different stages blend
10:30: How useful is Benchmark’s PEA?
12:40: Scaling up TPD milling or lengthening LoM?
14:00: Drilling Update. How does this update change drilling strategy?
16:20: M&I vs. Inferred
18:15: Rig Count
19:20: When will drilling start
19:40: How many new meters to the PEA?
20:45: Other M&A plans?
21:50: Metallurgy comparisons
23:40: CTO explained
25:50: Recap and discussion of Thesis’s next 12-15 months
 
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.

JRI 30: Transformative grade and met work make AbraSilver an even more compelling story.

Time Stamps below.
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Check out my writing at https://juniorresourceinvesting.substack.com/
CEO John Miniotis (ABRA.V) provides an operational update on AbraSilver's Diablillos Project in San Juan province of Argentina. Abra's Phase 3 drill program has been immensely successful, with the JAC deposit redefining market expectations of this project. A brand new press release (June 2) detailing updated met work highlights increased recovery rates across the board as well. The reality of these two facts - strong grades and strong met work - makes AbraSilver's story stand out in a crowded junior sector.
Time Stamps:
00:30: News Release Today on Updated Met Work
04:10: Recap the highlights of the past 6 months
08:00: Discussion of current phase 3 drill campaign extension
10:10: When do you stop drilling for a PFS?
11:30: Awaiting assays still from phase 3
13:00: Logic behind continuously updating MRE and active PFS development
15:10: Phase 4 Drilling
17:00: Cu Sulfide end-of-hole intercepts
19:30: La Coipita Update
21:00: Sum-up of AbraSilver developments

JRI 29: Tag Oil Drilling Update. “What we have right now is a company maker.”

Time Stamps below.
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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.

JRI 28: Update from Mike Schwarz on iTech’s Lacroma Project. Why good news is on the horizon.

Time Stamps below.
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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.

JRI 27. Why Giga Metals is ”the lowest risk undeveloped large nickel project on the planet.”

Time Stamps below.
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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.

26. ”We want to give people the power to drive change.” Chad Clovis discusses Karbon-X’s potential.

Time Stamps below.
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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.

JRI 23: Electric Royalties - How this green energy royalty co. reduces risk while retaining upside.

Time Stamps below.
 
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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.