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[Music]
hello and welcome to this live silver
showcase brought to you by redcloud
Financial I am your host Mark bunting uh
I host the videos over at redcloud TV
rctv we have a great show lined up for
you today thank you very much for being
with us we have five company
presentations where Executives from
these various companies will lay out
their projects and Prospects following
that we’ll have a panel discussion with
four of our participants where we’ll
take a look at the macro picture for
silver uh we’ll look at supply and
demand uh we’ll ask the question is this
recent Spike we’ve seen although it’s
cooled off in the last while the start
of one of those explosive moves that
Phil silver is famous for infrequently
it does it but uh 7980 if you’re old
enough to remember that or read about it
when the Hunt Brothers try to uh
dominate the market to Corner the market
had that big spike then and then in more
recent year 2010 2011 so there are a lot
of fall Dons with silver with these
types of moves but maybe this is a real
deal and we’re going to ask that
question as well now in terms of a table
setter for you on Silver we are pleased
to be joined by Taylor comia he is the
VP of equity research at redcloud
Securities he’s going to look at Silver
macro micro all the uh factors that move
the price he’s also got a few silver
ideas for you in terms of companies as
well so let’s bring in Taylor comier and
he’s going to set the table for us
Taylor take it away great thanks for the
intro Mark uh so today I’ll tell you a
few key reasons why we have a positive
view on the silver market going forward
so to set the stage I’m just going to
talk about where we’re at right now
today the silver price is sitting above
$27 per ounce and the gold silver ratio
is at about 86 to1 we’ve seen a big
shift over the past month as previously
the silver price was fluctuating around
the $23 per ounce level in early 2024
four meanwhile the gold to Silver ratio
has come down from a high of 91 to1 as
The Silver Price began Rising following
Gold’s earlier increase although the
silver price is influenced by many of
same drivers as gold it typically lags
the gold price and has greater price
volatility it’s largely driven by
smaller Market size compared to that of
gold the still elevated gold to Silver
ratio though does suggest that silver is
increasingly inexpensive compared to
Gold when looking at the long-term
historical average ratio of 69 to1 today
gold to Silver the gold to Silver ratio
is also above the average of 80 to1
which has been the average since the
fall of 2014 when the price of silver
decoupled from gold as investors broadly
rote off silver as just a derivative of
an industrial metal turning to more of a
Market Outlook now according to the
silver Institute this year uh there is
expected to be a silver deficit of 215
million ounces that’s an increase of
177% year-over-year strong demand is
expected due to booming Industrial
Fabrication and gains in photovotalic
applications that’s growing at a 10% uh
compound annual growth rate according to
Bloomberg on the supply side mine
production is expected to fall by about
8% to 824 million ounces in 2024 and
that’s largely due to a decrease in
provian output uh stemming from
temporary mine closures supply shortages
are expected to remain going forward
given stagnant mine production that
forecasted between 850 to 900 million
ounces per year until
2026 uh as well there is expected to be
increasing industrial demand uh that’s
causing that uh Supply shortage that
shortfall the global March towards
increased connectivity green energy and
transportation has also added new
sources of demand for silver as such
industrial demand is forecast to
increase 9% this year due to structural
growth in the green economy applications
as I said earlier photo voltaics but as
well as power grids 5G networks consumer
electronics and greater vehical output
we do believe the demand for silver will
continue to increase over the long term
however forecasted decline in mind
Supply four or five years out suggests a
looming shortfall unless new reserves
are delineated and added to the current
project pipeline uh that’s anticipated
to come online given the favorable
long-term outlook for silver demand and
a likely Tailwind for higher silver
prices once the FED begins cutting rates
we do believe that now is the time for
investors to start looking at Junior
silver explorers and developers
again that said I did want to take a bit
more of a deeper dive into the Mind
supply side of the equation given that
we’re talking with numerous exploration
earlier stage
companies in 2023 that mine silver
Supply fell 1% year-over-year while this
year it’s also expected to fall further
down to 824 million ounces
Mexico does Remain the dominant silver
producing country which it does produce
nearly twice as much as the next largest
producer China rounding out the top
three is Peru notably about 72% of
annual Silver Mine Supply was produced
as byproduct in 2023 the share of share
of production from primary Silver Mines
has was unchanged in 2023 resting at 28%
lead and zinc operations are the largest
source of Silver Mine Supply followed by
copper mines and then gold mines uh on
the byproduct side in recent years the
decline in output from primary Silver
Mines has continued uh and that’s
protracting a longer term Trend as I
said earlier Peru has seen output fall
significantly from its primary mind
minds and that’s essentially due to
community protests supply chain
challenges social unrest and operational
issues as that 72% of Mine Supply is
mined as a byproduct it is largely
unresponsive to changes in the silver
price any Supply response to Market
deficits would likely come from primary
Silver Mines then on the cost side total
cash costs did increase
61% uh in 2023 while all inst staining
costs increased by
25% uh to over $17 per ounce and that
was driven by inflationary pressure a
higher all and sustaining cost is also
forecasted for this year given the
prospect of easing monetary policy that
could help alleviate the all inating
costs though that would would be offset
by higher oil and energy prices as we’ve
seen those prices increasing um
similarly there would be a a an impact
from decreasing zinc prices uh and that
should lower byproduct credits from that
metal though higher gold prices should
help uh operations that produce
byproduct gold so see how that uh
balances out and then lastly uh on the
deeper dive side of things looking at
Global reserves those continue uh
continue to decrease year-over-year they
were down 5% last year to 3 a half
billion ounces and that was due to
depletion as well as changing economic
assumptions that uh overtook the
resource conversion uh and resulted in a
decline however I would not that total
resources and reserves did increased 4%
uh year-over-year last year uh and that
was driven by successful exploration and
expansion studies so with all that said
I would like to now turn and talk a
little bit about my top picks for
investing in silver these are in no
particular order my first top pick uh is
Black Rock silver we have a buy rating
and $140 Target price the company has
completed extensive exploration work
over the last four years and delineated
over a 100 million ounces of silver
equivalent of high grade in ferred
resources as a tonopa West project it
did recently acquire 100% ownership of
that project which we did which we do
view as a positive drisking step we do
look forward to results from
metallurgical engineering and
hydrological studies that could form the
basis of a future
pea my second top pick is cutney silver
we have a buy rating in
$350 Target price Cy offers investors
exposure to a highly undervalued
portfolio of high- grade Advanced
exploration projects It Is backstopped
by over 281 million ounces of silver
equivalent resources we do believe there
is excellent potential to delineate a
large highgrade Maiden resource at its
Flagship Columba project to add to this
resource base if 5,000 meter drill
program is underway there which could
potentially lead to that resource
expansion and my last topic that I’ll
mention today is gr silver for which we
have a buy rating an 80 cent Target
price the company’s Flagship plis
project hosts Three pass producing mines
and plenty of exploration targets with
existing infrastructure facilities along
75 kilometers of of a prospective Trend
in The prominent uh silver producing
region of Mexico the company did deliver
an updated resource in 2023 that beat
expectations outlining 150 million
ounces of silver equivalent we do
believe glosas remains highly
perspective and that additional
high-grade discoveries could be made
along the six kilometer contact at the S
marcial area so to wrap things up we do
have an optimistic outlook on the silver
space both in the short and long term in
the short term we do expect the
interplay between geopolitical tensions
that drive safe haven demand as well as
global economic activity that drives the
industrial demand side to be the key
influences on the silver price longer
term we continue to believe that mind
Supply constraints and ever increasing
silver demand for green energy
applications will continue to support
the silver price with that uh I will
turn it back to you
mark all right thank you very much
Taylor for that perspective and context
on Silver as Taylor caloi a VP of acity
research at redcloud Securities that was
a nice preview for us as we get into our
presentations which are coming uh just
right now just around the corner those
top ideas once again from Taylor Black
Rock silver cutney silver which we’ll be
hearing from in just a while on this
show and gr silver now to kick off our
company presentations we have H andian
precious metals this company owns a
processing plant in Bolivia uh it has a
producing mine in California it’s a
profitable company and its most recent
quarter saw record Revenue so let’s
bring in the Chief Financial Officer to
do the honors here with about a
10-minute presentation Juan Carlos sand
Deval Juan Carlos thank you very much
for being with us with us today the
floor is yours thank you Mark and um
wanted to thank rcloud for the
invitation uh appreciate very much being
here all right let’s get started uh well
thank you and obviously before I get
started I would like to call out our
disclaimers and forward looking
information on slide uh two and three as
well uh all dollar amounts referred to
in this presentation are US Dollars
unless it’s indicated
otherwise uh thank you for joining uh to
hear the andian story um our vision is
to be a mid tier
producer uh precious metals producer and
we believe there are four cornerstones
in place to achieve this goal first we
have a his of positive performance and
are focused on driving cash flows and
profitability second we have an
attractive organic growth profile with
many opportunities up ahead third we
have an eminate mandate we made one
Acquisitions towards the end of last
year and we continue to scout the
Americas for our next
transaction finally we have a solid
foundation for growth we have a strong
and liquid balance sheet we have no
streams no warrants and approximately
$72 million in liquid assets including
approximately $65 million in cash and a
negative net debt uh this these amounts
are very manageable from our
perspective um we are headquartered in
Monteray Mexico and have as as Mark
mentioned we have two producing assets
we have our s bolom which is our
Flagship operation in Bolivia and our
latest acquisition which happened late
November of last year a golden Quinn in
the
US regardless of the geography our focus
is the same growth production maximize
cash generation keep our workers safety
and uh healthy and safe and generate
value to our local communities obviously
and generate value to our ultimate
shareholder
olders moving on to uh let me give you
an explanation of sard um uh it’s San
btoom is situated in the Ser Rico area
which is one of the world’s richest uh
regions for silver in the world not only
does Bolivia have an abundance of
undiscovered geological endowment but it
also has a strong culture for mining
with skilled workers a modern mining
code and a simple T simple tax royalty
structure Bolivia is truly one of the
best kept secrets in the mining
industry our sart plant is located in
Southwest Bolivia near the city of poto
the mill with a design capacity of 1.8
million tons has produced approximately
5 million ounces of of silver uh uh D
bars every year since
commissioning our plan directly emplo
employs about 230
employees additionally sard employs many
contractors and generates thousands of
jobs in the local community the plant
was built by core mining in 2008 for
about $90 million you definitely
couldn’t buy a plant of this nature uh
for this amount in current days I am
pleased to say that in 2023 sbart became
ISO and RMI
certified oh uh let me I let me just go
back one I’m sorry um there uh sorry
when we originally acquired sard in
2018 the mine was expected to run out of
war and reach the end of its mine life
in 2020
uh so that was less than two years of
life of mine in anticipation of this we
started to increase thirdparty material
purchases to replace our own or in the
ground last year we signed contracts for
approximately 1 million tons of fed
stock and uh as of the beginning of this
uh 2024 we have fully transition to
processing only third- party
materials our new mineral reserve and
resource Source estimate announced at
the end of December includes thirdparty
material under the mid to long-term
contract as well as our tailings
materials from our fines deposit
facility the FDF contains untreated fine
grain feet plant feed which we we expect
to be processing as early as next months
this is low grade but as you know at
current prices this is becoming this
will become a very profitable uh
business um our latest uh reserve and
resource update the operating life of
sard is extended to at least
2028 this surpasses the original Life by
more than eight
years moving on there are many
opportunities for growth in Bolivia and
a road map is comprised or four Avenues
firstly we are working hard Capital
capitalize on our existing strength in
the country and in partnership with
government by securing new deposits of
oxides under control of the State uh
Mining Company secondly we continue to
focus on signing new purchase contracts
for third party or next we are close to
completing as I mentioned our tailings
recovery project and we have substantial
volume of material in our tailings then
which contains a significant
silver finally we still see a lot of m&a
opportunities in the country we love
Bolivia and we continue we plan to
continue doing business
there our sustainability program in
Bolivia is a very is of a very high
standard we maintain a strong social
license having guarded uh trust and
support with our
stakeholders according to an independent
socio economic impact study undertaken
by the Oxford economics in 2021 we have
a GDP multiplier of 2.1 meaning that
sbar makes a direct contribution of
roughly $70 million to Bolivian GDP and
has a further indirect boost to GDP of
more than $140 million that’s quite
significant for Bolivia most of our
employees and contractors have are
Bolivian and we are on one of the
largest royalty payers in the
sector uh now let me move very quick ly
to Golden Queen which is our most recent
acquisition we closed this deal uh uh
November of last year uh Golden Queen
has been operating the solidad mountain
golden silver mine in Kern County
California for about eight years
now uh it’s important to highlight that
is a fully permited asset with a
conventional open he open pit heat Leach
operation that has been a model of
consistency over the years that’s the
reason why we felt comfortable investing
in California we don’t need new permits
it’s fully permitted uh and uh uh we you
know we can operate for for for years to
come the mine is conveniently located
between Los Angeles and Las Vegas and is
easily reached via paved roads and well
traveled roads the mine has around 250
workers and it’s very close to the city
of Mojave
we recently as well updated our resource
estimate for Golden Queen and have at
least another five years of life of
mine the acquisition of Golden Queen uh
was an outstanding opportunity to add
another high quality producing asset to
the Indian portfolio and to create a
multi-jurisdictional precious metals
producer with Diversified production
exposure to both gold and silver and
cast flow generation
like our Assets in Bolivia We Believe
Golden Queen has plenty of upside
potential through growing the reserve
and resource base increasing production
lowering cost and improving cash flows
through mind optimization block model
Improvement for our process and
production
efficiencies expiration drilling around
the pit within the Golden Queen
properties and we also view go view
Golden Queen as an entry point into the
US as we see other opportun interesting
opportunities uh that will complement
golden Queen’s
operation I’m going to try to wrap it up
Golden Queen strengthens our our
capability as a diversified precious
metals producer significantly increasing
our anticipated silver equivalent
production in coming years SAR has been
operating continuously since 2008
producing an average of 5 million ounces
of silver a year and based on our 2p
reservice estimate Golden Queen we
expect life of mind to to to to have an
annual production of between 60 to
65,000 o 60,000 ounces of of gold and
and a little bit more than 400,000
ounces of silver a
year um while stackings or stopped uh
stops in 202
uh work at Golden Queen is expected to
continue for approximately another 3540
years via the sale of waste rock for
aggregate construction and landscape
material uh in the regional
area um we believe our stock is poised
for a rate there is obvious disparity in
our value relative to our peer group
this slide highlights how we can move up
relative to our peer group
postacquisition with a PO potential rate
factors that support a rate include
alleviation of a single Asset Risk
increased production increased mineral
reserves and resource base divers
diversification of geopolitical risk and
significant increase in gold exposure as
golden uh Golden Queen proves itself uh
we expect our value to catch up with our
peer
group to some things up we have proven
teams on both sides of the Equator to
create value for our shareholders we now
have producing assets with significant
upside in two jurisdictions well known
uh for leadership in in in Precious
Metals production and we have strong
expectations of operational enhancements
and extended production at both mines
underpinning our growth we are focused
on maintaining a strong balance sheet as
we follow the pathway to becoming a
midterm uh mider
producer uh I think that wraps it up
thank you for your uh uh for your time
thank you
guys and thank you for your time today
Juan Carlos from andyan precious medals
CFO Juan Carlos sandal thanks again
we’ll move it along now to our next uh
presenter you’re watching red clouds
live soon silver showcase by the way if
you’re just tuning in uh the next
company presentation is from cutney
Silver this firm is advancing a four
projects in Mexico Eric Sprout is an
investor uh redcloud covers this company
and and if you were with us off the top
of the show you would have heard that
the Taylor Comal a VP of equity research
at redcloud Securities named this as a
top idea so uh to do the honors here we
have the president and CEO Jim McDonald
Jim great to see you thanks for being
part of this and Mark yours yeah great
good to see you okay so let’s uh get
going here with the presentation I’ll
just put it into presentation
mode and there we go okay so cutney
silver is um a exploration company we’re
focused on the discovery of silver
deposits in Mexico Mexico being of
course the biggest silver producer in
the world so that’s really the place to
be when you’re looking for silver we’ll
be making a number of forward-looking
statements here and so be aware of that
and what cutney silver provides the
investor is two things we’ve always got
an ongoing exploration programs looking
for new opportunities at the Grassroots
level and Beyond uh and we’ve made
several discoveries over the years and
so we have three different deposits with
resource estimates on them that give us
one of the largest Junior owned silver
asset bases in Mexico so this provides
significant leverage to the silver price
we get we give a lot of Leverage to the
silver price and people really a lot of
investors like that and and invest in
the company because of that but in
addition to it we have the classic
explosive growth potential from the
drill bit in in new discoveries and uh
all of this we of course believes gives
us a potential for valy rating we you
know all these especially the junior
companies and even the mining companies
now are nowhere near being fairly valued
giving the metal prices so um move ahead
here to the next uh slide here’s our
capital structure which changed today
because we just announced the closing of
our financing led by Red Cloud so
there’s what another uh 9 3 million
shares here on the issued and we just
announced the closing on a 10 over $10
million financing today which puts us in
a great position here to move forward on
our colum silver property which is
really our Focus this is the most recent
of our discoveries no resource estimate
here yet but we have uh drilled over
30,000 MERS and 145 holes and we’re
currently Drilling and now with this new
f financing we’re going to be able to
expand on that program and really
Advanced more rapidly to our near term
goal of getting to a maiden resource
estimate on the Columba uh project and
so the resources uh that we currently
have sit on three projects
promontorial and ler are three deposits
promontorial lra and
lasera totaling 214 million ounces of
silver uh equivalent m& and then another
almost 55 million in the silver
equivalent in the third category and
we’ve just recently updated the the
resource estimates on all these projects
so they’re
current and um then as mentioned before
we’ve got this generative program
ongoing all the time in the earlier
stage projects we option them out and uh
to other people to mitigate the risk and
the most advanced of those is the
discovery of a old um oxide deposit in
Mexico and we sold our remaining
interest to the partner there uh we’re
located here in northern Mexico uh
there’s Columba our our highlight uh
Flagship property property on the
extension of the S Moder Trend shown in
red and um there’s the lasera resource
in the famous par District of Mexico and
then the proor project in
which includes the lra deposit in
southern Sonora
so the focus is here the Columbo project
and uh it’s a classic high-grade vein
system really important aspects here
it’s almost entirely preserved from
erosion whatever was deposited here is
still here um the old records from two
periods of historic production showed
some pretty high grades and we picked up
an option five years ago almost to earn
100% we made our last payment a year ago
just uh under a year ago and now we own
100% of this project and highlight holds
like 34 meters a half kilo 17.8 meters
of 650 grams per ton 6 meters of 2,000
grams per ton in various veins in fact
what we found is that the historically
worked vein is is not even the best one
and so
um this is what it looks like these are
the veins depicted in this image here in
yellow the major veins the arrow you see
with the inset picture that’s a
historically worked vein it was the only
one that was really worked in the past
about maybe 100,000 tons were
extracted it’s
guesstimated and this I hope you can
notice there’s kind of a rim around this
uh these veins and that’s old volcano
that’s an old Caldera
actually and um what’s interesting here
is at the bottom of that Caldera bottom
of that volcanic cone is your erosional
low point and it’s just clip the top of
these veins where they start to become
productive and have good grade silver
when you go upward in elevation and
climb the hills in any direction you
start to lose the vein you can still
follow your structure and you lose the
silver but the vein is still there at
depth so again almost entirely preserved
from any erosion so whatever was put
down here originally is still there in
the upper right is agricultural country
the highway up there in the upper right
is three-hour drive to the um airport in
the capital city of Chihuahua he would
add the the
chaha and then when we look
at the size of this system which is by
the way from left to upper left to lower
right 4 kilomet by 3 kilometers in the
other direction when we look at the size
of that it’s similar to well-known
districts in Mexico and and relatively
recent discoveries in the middle is
vizla over 300 million ounces now and
then on the far left of course is is the
last cheesus mine in now in production
with some very high grades so we have
the scope of scale here for something
that could be 100 million ounces or
multiples of that even
and so when we zoom in some of the
highlights and the various veins look
the Shaded area are are the portions of
this project we do not own everything
else we have and right in the middle
you’ll see a lot of red dots that’s
historically worked vein where we had
intercepts like 7 half meters of 650
grams per ton the upper right you’ll see
intercepts like 44 M of 300 G per ton 6
M of 2,000 G per ton and then our real
Focus right now is down on the on the
bottom what we call the D Vin you see
that in the bottom where are the most um
consistent wide high-grade hits are on
this vein uh we closed out drilling last
fall with a a program where we defined
450 500 meters of strike and now we just
embarked on on a new program about 3 4
weeks ago where we’re stepping out
aggressively at about 100 meters a Time
looking to double that strike length and
you can see the real highlight hole of
34 m a half kilo that’s the deepest hole
in that vein so far it’s open in all
directions um not much time here really
to study these long sections this is the
historic vein but the point here is you
can see the shaft they put six levels
getting ready to mine here but from the
far left hand side we’re seeing highr
hits over 800 gram per ton all all the
way to the far right hand side where
we’re still in material over 400 gram
and if you look at the bottom red dots
there whole
123 uh deepest hole still in 700 gram
material and then on the far right
deepest hole in that area over 2 kilos
so then when we look at the D vain where
we’re really focused we’re looking at a
roughly um 500 M of strike here you can
see multiple wide intercepts wide open
and now we’re going along the right hand
side systematically stepping out and
Drilling in a pattern that roughly looks
like this on this plan map so for the
sake of time I’m going to have to skip
ahead here what what we’re embarking on
now with Columba is we started a 5,000
meter program with the new financing
we’re expanding that into 20,000 or an
an additional 20,000 M which we think
will get us to a maiden resource uh and
we’re shooting for that uh for the end
of the year results uh
willing and so uh I
think closing out on uh my 10 minutes so
very quickly the lasera resource we
really like this project in the Parell
District we’re in the extension of an
area that District that’s produced over
half a billion ounces of silver you can
see in the bottom of the map there
that’s the uh Sen the Santa Barbara
District they’re still mining there at
2,000 meter depths and this is a pit
constrained resource it’s coming right
to surface tons of upside here um and a
recent uh resource uh update increased
the grade from 85 grams to 102 grams so
when silver is breaking $30 this starts
to look really interesting again same
kind of story with our prontor and lra
deposits uh there and we’ve updated the
resources getting them prepared for when
we’re really in the swing of a of a true
silver bull market and I think I’ll just
close out now so we can uh stay on time
and you can contact us uh anytime with
uh with
questions all right great stuff Jim Jim
McDonald the president and CEO at cutney
Silver he’s going to a stick around for
the panel discussion toward the end of
the show you’re watching red clouds live
silver showcase again uh a panel
discussion after uh three more
presentations to come from uh three
different companies and we’re going to
keep it on by the way uh we encourage
your questions if you have any questions
for us we’ll try to get to them just put
them in the the chat box and we can see
if we can incorporate those into the
panel discussion towards the end now uh
we are talking to Raina silver this is a
company with multiple projects on the go
the main focus is on the gige project in
Mexico the head of investor relations is
Lauren mcah someone we’ve talked to
before great to see you again Lauren we
will let you take it
away hey thank you so much for having me
I really appreciate it and uh looking
forward to sharing the rain of silver
story and what we’re up to currently um
rain of silver for those of you don’t
know we’re an exploration company but
our focus is on highgrade District scale
and when we say that what we mean is
we’re looking for something that’s high
enough grade that eventually the project
can make money when silver is at
whatever your personal nightmare is uh
but simultaneously is large enough that
it can Ser that it can take advantage of
the cyclic nature of the resource market
and so when silver goes to whatever your
dreams are made of that’s how you make
significant money on top of that
projects that have that extra leverage
and you know on top the the that’s our
Focus that’s our and that’s how we pick
our
projects uh as you guys know forward
looking statements we’re a junior
Company please do your research uh if
you have any questions please feel free
to reach out so we have four projects
that fit through that high-grade
District scale filter we have an
exploration team that has been serly
successful in their exploration of this
style of deposit uh including my father
Dr Peter mcau who’s the co-founder of ma
silver and on top of that the geologist
that we have boots on the ground those
were the team that was part of the major
discoveries this groups historically
made and in addition to our CEO Jor rir
Monroy who brings his expertise in the
capital markets not just in Canada and
New York uh the us but also in Southeast
Asia and Australia and that’s allowed us
to put together a strong balanced
investor register between retail
institutions and management and allowed
us to have access to Capital so that we
can have exploration
success we have four projects uh we
believe in the portfolio method so the
idea that a stool is significantly more
stable with four legs than one or even
two uh we’ve got two projects in Mexico
bis and Gigi and two projects in Nevada
medicine Springs and Griffin uh bapis is
historically Mexico’s highest grade
silver District it’s a native silver
District uh our other three projects are
what are called carbonate replacement
deposits I’ll go into this in a little
bit more here in a second but you know
what it boils down to is our Gigi
projects at the heart of the santalia
mining district one of the world’s
biggest and most significant crds and
what we know from studying crds and the
santalia district in particular half of
the spe the the the system is missing it
hasn’t been found yet so we’re looking
for that other half of that half a
billion ounce District on top of that we
have the two projects in Nevada where
we’re taking this team’s expertise in
crd exploration in Mexico where they’ve
been repeatedly successful in finding
large systems we’re taking that up to
Nevada because well Nevada is the Silver
State and in part because of the crd
systems that have historically produced
there so we’re looking at medicine
Springs where we think we have the full
system and then this last year we
acquired this project called Griffin and
Griffin’s particularly exciting because
not only does it appear to be a crd
system but it has been overprinted by a
Carlin type gold system and that’s
before we get into the critical Medals
of it all so one of the decisions we
made this year is to take Griffin and
make that the focus for our drilling
program this summer because it might be
the newest project to us but it’s by far
the most advanced and if we’re right
about any component that we see at
Griffin this could be a really
significant
deposit uh our technical
team uh in terms of capital structure we
have 188 million shares outstanding we
have a market cap of about 30 million
Canadian and cash on hand as of March
was 4.6 million Canadian we actually
just launched a recent uh additional
financing because of the appetite and
because redcloud said hey we have
appetite for this and this allows us to
further our drilling program program at
Griffin this summer particularly with
some of the exciting targets that we’ve
discovered recently uh as well as strong
institutional
support one of our focuses is grade
grade is King you plot it out you use
the math it really comes down to grade
secondarily scale is Raina Rea
is Spanish for Queen so a fun little
joke on why it you know why we do what
we do
so I’m going to focus this presentation
on Griffin because that’s what we’re
focusing on for this summer uh
particularly because the drilling season
in Nevada is summertime it’s over 10,000
hectares and it’s really an example of
when the Market’s been where it’s at the
truly great projects become available
and we seize the opportunity to go after
this where it resides is between the
Carin Trent and the Battle Mountain
Eureka Trent absolutely huge gold Mega
districts which is why historically the
focus on this project has just been on
gold despite the fact that if you look
at the secondary Trend that we see you
have the Immigrant rain District the
railroad District Eureka where i8’s been
focusing or refocusing on the crd
deposits that reside Bel beneath the
Carlin type deposits we went wow we see
this same assemblage at Griffin let’s
see if we can take advantage of that and
explore this full system not just the
the goal I mean don’t get me wrong it’s
shiny it’s lovely but also looking at
this extra potential
there and as you can see the focus on
gold there’s a good reason for it gold
is absolutely everywhere on this project
uh we’ve got over 4,000 samples
almost 25% of them have come back with
over .3% gold um we get zones that run
up to 25 grams gold the focus on gold is
obvious but one of the exciting things
here is that we also have this carbonate
replacement deposit component as well
and I’m going to take a moment real
quick to explain what a crd is because
well I think if you understand the
deposit you’ll understand why we are so
excited about the potential here so crds
are these continuous zon
multi multiphased highgrade especially
when they get big um and they’re also
polymetallic but you get good recovery
rates out of them because of their style
of
mineralization and what happens is you
have a pory um like a magma chamber com
that intrudes coming off of its acidic
mineralized fluid that goes through
fractures in the Rock um essentially the
plumbing or the routes of mineralization
and when it comes in contact with the
carbony whether it be Limestone or DOA
Stone you get an acid base
reaction and the mineralization drops
out and this happens again and again and
again and the more times it happens the
bigger these deposits get another way to
think about these things is that they’re
a public transportation system so that
poery Source that’s like your bus
terminal and you have all these bus
routes coming out those are your
fractures your structures and different
elements hop on the bus and goes fully
loaded out and different elements get
out in different neighborhoods so when
you’re in what we call the scar that’s
like your downtown area you have higher
copper gold lead zinc um silver will be
a little bit lower grade than it is
outboard but that’s where everything’s
voluminous as you make your way further
out you get into the suburbs those are
what we call the chimney MTO portion of
the system there your silver gray goes
way up along with your lead and your
zinc as well as some critical metals and
then finally at the very end of the
system the elements that fell asleep on
the back of the bus get kicked out those
are our Trace elements or alteration
Halo and one of our focuses is on
looking at the full system so typically
you divide you know we think about these
things based off of what outcrop so it’s
a crd or it’s a scarn or it’s poery
we’re looking at the full thing and not
just the linear component but also the
fact that these things Branch out like
almost like the
treetop so when we’re looking at Griffin
and you see these deep-seated structures
that you know go through an area where
we know there’s big crds and pories we
know that we’re at the top of a
carbonate section in part because of
historic drilling we see the high-grade
mineralization that we’re looking for
that tells us it’s a long live system
the rest of these tell us that the bus
left the terminal many times fully
loaded and we see a lot of those
indicators at Griffin and you’re in
Eureka and the Battle Mountain or in the
Elco County great jurisdictions we’re
seeing this gold and the crd style
mineralization so silver lead zinc
copper using these same structures we
just did a relog of all the 23 historic
cor holes two weeks ago it is really
exciting to see the potential and taking
advantage of the fact that everyone’s
been so focused on the gulf and yet we
have these really crazy crd Target gets
available to us and you know not only
that we’re 5 miles from the road when I
was out at site last week and you look
out across the valley and you see the
Cortez Camp which produced 40 million
ounces of gold you go we’re in the right
neighborhood for big discoveries
and you know we see structures that have
gold and silver and copper Long Live
structures that’s your plumbing let’s
look at that plumbing really Chase it
because the gold uses the same Plumbing
that the crd systems use it’s like but
it’s like a bunch of little cars so the
question is how do you find those main
highways how do you find the traffic
jams and that’s one of the things that
we’re going to be looking at this
summer silver is going to be a a focus
for us one of the other things we’re
going to look at is the sources of these
systems are commonly indicated by copper
mineralization we have this area called
Saddler where we get s up to
11.6% nearby we have gold veins that run
up to 25 grams per ton gold and silver
up to 2,000 grams per ton of silver so
we’ve got some really exciting targets
coming together and that wasn’t enough
we also have our other projects that
we’re working on making sure that our
quiver is full of where we’re going next
so if you guys have any questions
particularly about the other projects or
what we’re up to with Griffin uh please
feel free to reach out and thank you so
much redcloud for having
us and and thanks to you Lauren that we
appreciate that they’re very thorough uh
we’ll talk to you during the panel
discussion in just a moment that is La
mcau head of investor relations at Raina
silver uh as mentioned a panel
discussion coming up after a few more
company presentations feel free to
answer some questions in the chat box we
will try to get to them our next speaker
comes from Silver nor resources this is
a company with Assets in Yukon including
the hdan project the president and CEO
is Jason Weber we’re going to bring him
in now and he will handle the
presentation great to see you thanks for
taking the time Jason uh take it
away oh thanks thanks very much I’ll uh
I’ll just get my presentation up
here yeah it’s great uh great group of
presentations uh this morning it’s been
uh quite a treat to listen to these and
I I really happy to bring Silver North
uh to the attention of the uh the
audience here I think we’re really uh on
to uh some good projects in the Yukon
territory of Canada that’s where we’re
focused I am a geologist so by Nature
I’m um I’m very uh positive outlook so
here’s our our forward-looking
statements uh representing that as I
said we’re uh operating in the Ukon
territory we have two projects one is uh
haldane which is in the historic Kino
District of central part of the Yukon We
Own 100% of the halan project and we’re
at the Western uh side of the uh The
Kino District we made a new discovery
there uh announced in January of 2021 uh
311 grams silver over a nice wide 8.7
meter intersection we followed that up
with um uh further intersections of of
high-grade silver uh that’s our main our
Flagship uh project but we also have
another project called Tim uh as Lauren
was just talking about crd uh deposits
Tim is a crd it’s located uh right at
the BC Ukon border we’re partnered with
C on this project they’re earning uh
into this project uh and we’ll be
funding drilling at Tim uh this summer
again looking for high-grade silver
mineralization I’ll talk first about
haldane uh that’s our as I said our
Flagship uh what’s really kind of unique
about this is we’re in a 100 year old uh
silver district and we’re still able to
make today brand new uh silver vein
discoveries uh this is projects Road
accessible you’re in a in a in a mining
camp uh access is excellent
infrastructure is fantastic uh We’ve
made recent discoveries and we feel
there’s potential to make new vein
discoveries and this is evidenced by uh
a blind Discovery we made in the last
few years called Big Horn uh an area
that was um not previous identified
until we did some sol g c and came up
with an omy and drill tested it and
probably what’s most exciting for us
about this district is that if you take
all the veins that we’ve identified on
Surface to date and you add the the
lengths of the the strike of those veins
together you get about 12 kilometers
there’s only been 28 drill holes uh on
this project from surface and that tests
only about 600 meters of that 12 kmers
so that this is why we feel so confident
that there’s lots of room to not only
make new discoveries but build on on
what we’ve found
already as I mentioned this uh Kino is a
is a significant District after the the
Yukon Gold Rush in the early 1900s a lot
of the SOS headed uh East uh looking for
gold following some of the major river
systems ended up in the Kino area and
found silver and that sparked a silver
Rush that uh sort of accumulated in
over 220 million ounces of silver
production until
1989 uh a very high grade over a th000
grams per ton silver e infrastructure is
excellent you can see on this slide we
have an electrical substation within 5
kilometers of of the project power line
runs uh within a couple kilometers and
the highway is also a couple kilometers
away with Road AIS right into our area
of drilling there has been some small
scale historical mining but I think just
due to the distance you know back in the
early 1900s uh you’re looking at
probably 20 kilomet to move uh any ore
from the halane area over to Elsa where
processing took place uh by horse and
buggy that would have been a tall order
so I think that’s part of the reason why
this project sat idle for so long and
and is available for us to make new
discoveries just a bit of a lay of the
land you can see um kind of like what
Lauren was just talking about being in
in Gold districts uh and having uh these
dynamic or producing uh environments we
feel the Kino district is is very
similar for the longest time it was
known just as a silver District but more
recently you’ve got the eagle deposit
just to the north of us that Victoria
gold put into production a few years ago
and then uh in the light blue just to
the uh the east of us on this claim map
we have banion gold who’s uh outlined
about 7 million ounces in um in
resources over the last few years so you
know this is a district with a burgeon
and gold camp in it and as geologists
that’s what we like to see Dynamic uh
systems that uh are productive in in in
many different uh
Commodities this is a geology map of uh
the the district uh you can see the
light blue gray unit that kind of runs
the down the center of the the valley um
uh that makes up the most of this
District that’s the keno Hill basal
court site member that is the key unit
that hosts
by and large the majority of all Keno
style vein systems and you can see the
the number of deposits that have been uh
uh identified and discovered and you can
see most of them lie within that that
blue gray unit so us having a a great
expanse of that uh at the haldane
property is really important uh as it is
the key unit for for hosting these
deposits when we zoom into halane itself
we Ser see a series of somewhat parallel
or subar parallel uh vein faults that
host
mineralization uh the most significant
for us recently is the west faal where
we made our uh Discovery in
2021 and that’s kind of in the center of
this area we call the mount halane vein
system uh you can see off to the
Northwest there’s another Target called
Big Horn that’s the new uh brand new
Target that we identified uh through so
G Cam and follow-up
drilling this is looking uh off to the
Northwest from the top top of Mount
haldane looking down the Big Horn Valley
this is where most of our work takes
place you can see the westf drill pad up
on the uh right side of uh the hillside
that’s where uh we have some nice
highgrade 3.14 meters of
1,315 Gams per ton silver um down in the
valley bottom you see middle cof in the
Johnson veins this is these are a couple
of the areas that had historic
production back in the early 1900s and
then uh on the right on the road uh that
comes up the valley our access road you
can see the area where Big Horn was
discovered in 2019 and off in the
distance you can see the road off to the
eagle Gold
Mine this just a plan map of of the
drilling only to show that there hasn’t
been a lot of drilling on this and we’ve
already identified over 100 meters by 90
meters of strike and dip Direction on
this vein system um we’ve done that
through 50 meter step outs uh at the
West fault and what’s really I think
encouraging ing here and you can see it
on the cross-section on on the uh the
right hand side is we have the the West
fault structure and then just a few
hundred meters uh further to the uh East
we have the the main fault which we also
think has great potential to host uh
silver
mineralization so lots of room to move
on this down down dip and to the uh to
the southwest and that’s what we intend
to do this just is a a photograph
looking uh along the strike of the veins
you can see the main fault off to the
right and some of the proposed holes in
yellow that would test both the West
fault and then we also would like to do
a test through westfal and into the main
the Main’s interesting it actually has
mineralization on Surface the West Vault
didn’t so to find um this highgrade
mineralization at depth was really
exciting for us and I think it really
bodess well for the main fault and its
potential to host
mineralization Big Horn this is the
other one 3 kilometers away um this was
some really high grade soil GCM on
surface that uh that we tested with
drilling um while the intersection that
we made here 125 grams per ton silver
over two almost two and a half meters
isn’t or grade it really what it is is
indicative that you are in a productive
vein system and now the process is to
start uh exploring along that vein along
strike down dip to find where high-grade
uh mineralization May reside and that’s
exactly what we intend to do in our next
phase of of work there
uh I’ll just touch quickly on our Tim
property this is option to core they can
earn up to 80% through some cash uh
payments uh expiration expenditures and
completing a feasibility study by the
8th anniversary of the agreement um this
as uh I said is a crd type deposit right
along the BCU comp border it’s about 19
uh kilometers uh to the northeast of the
Silver Tip mine property that uh core
has been exploring quite success on over
the last few years uh which is one of
the reasons we’re really happy to have
core as the operator here they’ve
identified their crd system and and its
uh unique characteristics that they are
now taking that knowledge bringing it
over to our project here at Tim uh to to
test U some surface results like four
meters of almost 470 grams per ton
silver uh going to do that with about a
2,000 meter drill program that’ll start
in June of this year uh to just test
this depth this mineralization at depth
and uh and get a a good um
characterization of where we might be in
the crd system here and uh and and where
to go next so uh that’s a fully funded
program by K and uh we uh we’re looking
forward to that starting up early in the
season and then we’ll follow that up
with our own expiration at halane uh
later in the year so I feel that you
know for a company like uh Silver North
the greatest value we can add is through
the drill bit just Discovery you can add
ounces to your your your portfolio
that’s going to bring value for your
your shareholders and that’s exactly
what we intend to do uh just a a quick
uh share U capital structure slide here
nice tight structure just over 43
million shares outstanding um market cap
just under 7 million uh today uh we’ve
been trading sort of the the 15 to 17
cents range we uh we launched a small
financing a few weeks ago uh and traded
that was at 10 cents we traded up to 17
cents through the financing and it
stayed there so really encouraging
Market I think the the sentiment is
changing and for Discovery stage
companies like us I think it builds very
well going forward and just touch on our
management team uh there’s uh led by
myself uh our BP expiration Rob Duncan
and our executive chairman Mark Brown we
look after uh the technical and the
financing aspects of the company
together and we’re backed by a solid
team of both Technical and Financial
uh resources that uh help us move this
company forward towards Discovery I
think I’ll I’ll I’ll leave it uh leave
it with that and uh and we can move on
to the next presentation just like to
say thanks for uh having us uh presented
this we really appreciate being part of
the the red red Club program
here absolutely thank you very much
Jason Jason Weber president CEO at
Silver North of resources he’ll stick
around for the panel discussion which
will come after this presentation from
zver Viper minerals which is advancing
the LA Virginia gold silver project in
Sonora Mexico Red Cloud covers this
company and the president and CEO the
gentleman we’ve spoken to at least once
before uh personally oneon-one uh but
he’s he’s part of the the the Red Cloud
landscape for a while now it is Steve
cop will bring him in here and he’s
going to deliver the presentation how
are you Steve take it away I’m doing
well Mark thank you yeah I’ll dive right
in and try and make up some time here
and get into that panel which I think a
lot of people will find very exciting so
we have the like I said this is Silver B
for minerals we have the LA Virginia
project right now we’re a single project
company um we believe yeah you should
have you know a secondary asset but we
don’t believe in just putting anything
in we want to make sure that it’s
something that would drive value for our
shareholders and AD so we we are in the
market for another asset but the LA
Virginia asset by itself is is obviously
a very special project and something
that
you know we found a lot of gold and
silver out already so again here forward
looking statements like everyone else
you can draw your attention to those
slides we will be making those during
the
presentation the Silver Viper mineral
sits within the belela Management
Group um we just recently added Taj sing
is the chairman uh who replaced Gary Co
my father who’s retiring from the
industry after you know being paron was
the founder of the BCA group um but to
Singh has come and joined our first
Nordic mining team and then as well
joining the as chair of of Silver Viper
minerals it’s a team very well
experienced we’ve got multiple you know
senior geologists within the group that
and what kind of separates our group
from others is is All Eyes from everyone
within the group are on all the projects
all the companies and helping out where
a lot of other groups you know kind of
keep the the different companies
separate we really value everyone’s
expertise and come together and all work
together across all the different
companies within the group it’s a group
with a long track record of success
around Mexico and other parts of the
world um previously you know for the
core of the group was the Oracle silver
deposit or company and selling you know
not a bidding war between C and first
Majestic and and really shows our
group’s model our group’s model is to
take something somewhere along the
expiration timeline take it as far as a
feasibility study and then look to vend
it off to one of the major mining
companies we only get involved with
projects that we believe would be of
interest to those major mining companies
and for that we need to see certain
minimum thresholds of potential you know
over a million ounces of gold equivalent
or over 100 million ounces of silver
equivalent if we don’t see that we’ll
step back from the project look to vend
it off to someone on a smaller scale but
we really only get involved with the big
you know tier one type asset potentials
that are out there so that’s what we’re
focused on and that’s certainly what we
think we have here with the LA reginia
project uh quickly you can see our
shares outstanding we are in the middle
of a raise through Red Cloud at the
moment we just recently closed our first
trunch for 2 point just over $2.1
million we’re going to raise up to 4
million um that’s being done at 10 cents
with a half for at 15 so if you’re
interested please reach out to red cloud
of the company directly um we have a
great group of institutional
shareholders behind the company I think
we’ve had eight already participate on
the first trunch of that placement so
it’s nice to see the funds finally you
know up the last two years getting some
inflows recently and starting to
participate of course you know you’ve
seen dozens and dozens of companies go
to market over the last you know two to
three weeks so there those funds are
being forced to spread those funds
rather thinly but it’s still nice to see
them finally have some Capital to deploy
back into the space
one of the Staples and you’ll see there
too is we’re always proud of his
management is a very large holder of all
the BC Cara companies and participates
in the open market participates on
placements we believe the best place to
invest our own money is into the
companies that we’re
running La Virginia just quickly
overview was it was the number one
expiration assets by a company called
mine finders that was ultimately sold to
Pat American silver for $1.5 billion
dollar um this was their number one
expiration asset and that and their main
asset was a mine 100k to the South
called Dolores they flew the whole
mountain range with helicopters looking
for another Dolores mine and settled on
La Virginia being the look like on
Surface when they were doing their
expiration they were focused on one very
small portion of a very large claim
package and really ignored the rest of
the claims they didn’t map Sample they
didn’t do any of that other work because
they had some success down in the Las
wates con Virginia area of the project
but when we got involved and were
brought in you know we we did our site
visit and we could see these structures
run north south for you know hundreds of
kilometers and you see them outcrop as
these large solfi dkes and you know you
go back and look at the database and
they hadn’t M sampled done anything all
across the so we knew you know where our
expertise was was in Discovery and and
we knew we could get involved here and
make you know additional discoveries
which is what we did right off the bat
you know end of our first phase of
drilling on the project at Al Ruby and
what we found at Al Ruby was you know
bigger widths higher grades even then
the the successful stuff they were
hitting further about four to 5K CS
where they were focused and that’s
become our main and and that you know
really is kind of the lookalike for what
the the Dolores mind became you know the
the stuff to the sell is slightly
different still effective and it’s nice
but at Al Ruby we’re closer to the heat
Source we’re seeing you know like you
say higher grades higher widths and we
also are showing the potential for an
open pit heat Leach operation you know
silver is great but I we’ve always been
a fan of being able to diversify and
having more than one medal so on this
project so far our resource about 60%
gold 40% silver which is still a very
high percentage of silver exposure when
you look around kind of our peer group
of companies there’s there’s not a lot
of companies that have quality silver
exposure but I also like having the the
exposure to gold one it gives us access
to both the gold and the silver Majors
but it also gives us access to the
prices as they increase and especially
on the silver side because as you know
we’ve talked about earlier in this most
of the primary silver producers aren’t
economic you know going back 10 years
they needed $25 silver to break even and
why most of the big silver producers
have you know effectively become gold
producers you know panamerican silver is
now now 80% of their production is in
gold and it’s because silver hasn’t been
economic so to have the ability to
survive those tougher Times by having
exposure to gold and then getting the
upside of silver when silver really runs
I think really makes our project stand
out from a lot of others in the
area we’re located over on the Eastern
side of the state of Sonora this is the
number one gold producing state in
Sonora most of the large mining
companies if they operate in Mexico have
an open pit heat he open pit heat bleach
operation in the State uh we take a
paved highway from you know the
international airport in hermoso and
then from there we’re about 30 minutes
in on a gravel dirt road right to the
heart of our camp in the project um the
nice thing here is even though this
particular part of the Sierra Madre
Mountains is very remote most of it is
inaccessible we’ve got you know as far
as modern operations we’ve got Dolores
100K to the South LTG grade 90k to the
north in the same Trend was a past
producing mine and now has a junior
that’s you know been doing a lot of
really good work and exploring and
trying to bring that back to prominence
but in between other than La Virginia
there’s been no modern expiration when
you look at the puos mines and you
listen to Lauren you’re talking about
these districts that have you know all
this production you saw you know Les
chesus on the cutney
presentation these mines should be very
tightly en closed together but the
reason that you haven’t found that here
yet in this particular trend is because
of access now we have access across the
river that sits just to our West but all
the way up and even further north from
ltra there’s not another Bridge across
that River so even to access their
project you’ve got to go all the way up
around the border and loop back around
you know and it’s so it’s very difficult
access for a lot of this area but we’ve
got a brand new power line C right
through our project you can get right to
our project because there’s a bridge
right at that local town in corich Chico
over the river and we’ve got water year
round you’ve got a lot of things going
for it in this particular area so that’s
it puts us in a very good position but I
actually like stepping away from those
big districts because I find those
districts have been picked over pretty
good you know you can get lucky you can
still stumble on something but the easy
fruit has been taken those districts
it’s going and finding a new District in
its own little part of Mexico that I
think is where you can have those really
really big wins and and again I think
we’re on to one of those here at La
Virginia here you can see the claims
when we making our final property
payment on the claims in blue we own all
the claims in red 100% um we have a
final $200,000 payment and some shares
will be issued in June um with our
partners in Mexico and then we’ll own
the project completely out 100% so we’re
really excited to be done and have that
over with um again just focusing quick
here because time flies as you’re
talking we only have 10 minutes but the
big kind of idea moving forward for La
Virginia this is this is El Ruby area
where we made our Discovery you can see
one of those big solici ified dkes there
the Rocks going to stick me up the
ground on the top of that plateau and
this is where we’ve had our a lot of our
success and we have these the Dyke is a
vertical system it has a lot of our
highgrade gold and silver it’s a you
know retra structure and then in the
foot wall we get about an 80 to 20 meter
wide zone of lower grade but still a
high-grade mineralization for for the
low grade and it’s running kind of a
gram to gram and a half gold equivalent
numbers and then we discovered the
Western Zone 100 meters to the West
which is another 100 plus meter wide
zone of kind of that gram to gram and a
half and that’s really where you know we
we’ took our M and resource and focused
on this starting as an open pit he
bleach operation you know and when
you’re comparing Apples to Apples in
this you know in the state I think great
is King absolutely but great is King
depending on the style of mining so the
average open pit heat Leach operation in
the state of Sonora operat it’s about a
half gram gold average grade our grade
is sitting around a gram and then we
have another half gram of silver
equivalent on top of that so again we’re
sitting here with a starting asset on
the Heap leach side that’s very
attractive sitting at Double the triple
the grade of the you know most of the
operating mines in the state and then
you have this high-grade bretel
structure that’s vertical that you can
follow and then take that high-grade
material and go you know with a
different process for it you know as a
secondary circuit at a Mill and then as
we expand this deposit further down you
know one of the big wins of the
expiration in the drill program that’s
going to be coming is testing this at
depth you know we have this anite host
stro that’s very favorable but then as
you get into this riight package it’s a
much tighter denser rock it still has
our veins going through and the breast
structure goes through it but you don’t
get as good of widths on the
mineralization and we had Crest cat
capital and Quinton Henning is well
known the industry did a deep dive
through our database and he said you’re
onto a gold carbonate based metal system
and then when you look at our results
you say well we haven’t have any base
Metals you don’t have any carbon that’s
what are you talking about and what
that’s going to come is that that
contact below the riits when those
fluids came up to mineralize and they
hit that tight contact of the riit you
get these big blowouts and he looked at
our Pathfinder rocks elements and said
you’re on to one of these and so we did
some geophysics we’ve lit up a very
large deep Target that we’re very
excited to get to and so that’ll be part
of our expiration plan this year as well
as testing some of the new targets uh
quickly you can see some of the grades
here we’ve had some spectacular half
meters you know over 10,000 gram silver
with seven over 700 gr gold in amongst
the 20 meter highgrade sector section
it’s you know we give and it holds
together section by section very well in
the El Ruby area again this is one of
those again talking about why we think
we’re on to something a bit different
here and when you’re looking at Mexico
we’ve got highgrade gold and silver at
surface here you go down 300 meters down
the drill hole and you’re still hitting
high grade gold and silver but you have
no base medals and that isn’t your
traditional Mexican epithermal system it
means you’re on to something else and
deep down you know where we do see the
odd based Metals is we get some sulfides
that have been blasted up from deep in
the system
and you’ll still you’ll see that
highgrade golden silver with some chunky
sulfide material in the area but then
you’ll get a half meter of you know base
Metals with copper Le zinc running at
high percentages but a half meter on
either side you have high grade gold and
silver with barely anomalous you know
base Metals where you don’t have those
sulfides so again I mean and as I
mentioned that I one of the things
that’s important on any mining project
you look at is metallurgy so when I talk
about open PE open pit heat bleach
mining all of our gold recoveries are
over 90% low grade silver leeching at 76
% is awesome because we’ve got a half
gram silver you know equivalent for that
open pity heat bleach mining so again
that’s important but then that high
grade gold and silver from the Retro
structure I would see reporting to a
secondary circuit and getting much
higher recoveries on
it again quickly I mean already running
out of time here but you can see those
grades that I was talking about in a
resource you can see the area where
panamerican was focused but it was our
Discovery at Al Ruby that really allowed
us to incorporate some starter pits in
that you know historic area where the
topography isn’t as favorable for open
pit mining at El Ruby we know it comes
off the southern side of this Plateau
but that’s a 2 km x 2 km Plateau where
we see mineralization extending all the
way and off to the north there’s other
targets further North El Molino you can
see on this image here is our number one
exploration Target that we think we’re
going to make a brand new discovery on
our our surface sampling and mapping
there shows these breta structures
tightly coming together with some very
good surface sampling numbers so that’s
going to be part of our next phase of
drilling will be making a new discovery
I expect on El Molino and then
continuing to expand the Ruby resource
both along strike and it depth again you
can see a lot of the blocks that are
outside of that resource um with Metals
prices that’ll allow us to bring a lot
of those in moving forward onto a new
Resource as well that resource was done
at I believe 1,500 gold so again
obviously we’ve had a dramatic increase
in that that’ll help bring a lot more
ounces into the resource and we’ve
expanded that open pit by 300 meters to
the South as well so quickly you know as
part of the proceeds from the placement
we’re doing we’re going to do a 5,000
meter program it’s going to be focused
on L Ruby and El Molino and then we’ll
start to expand out we’ve had a lot of
success in that El orental area with
mapping and sampling again all these
areas are previously not drilled paradon
Ruby North this is just a small portion
of the project again here so we’re
really excited to get back out there
Drilling and make some new discoveries
um just quickly you can see that deep
Target that we said the geophysics lit
up under L Ruby that again we could be
you know the start of one of these big
systems the kellyan minded Indonesia is
probably the most striking resemblance
to what we see here but also the Dolores
mind of the South
you know with that again I mean there’s
a lot of stuff going on but we can
probably get to a lot of in the
questions and then you know obviously
we’re big in the community and very
important working with all of our
partners and local communities making
sure that we do things right with that
we can wrap it up and and move
on all right nice job Steve Steve cope
president CEO at Silver Viper minerals
we’re going to get to our panel
discussion right now for our viewers if
you have any questions you can answer
them in the chat box we will try to get
to them now first question I will direct
to all of you we’ll kick it off with
Jason for and then and then the rest of
you can can join in here um now the
price of silver from mid February to Mid
April had H quite an impressive run it
seemed steeper and a little bit more
explosive than some of the the rallies
in in recent years and it has some
people speculating that uh and by the
way let me just interrupt my question
here I just want to see we’ve got Lauren
mcau reain the silver Jim McDonald cyy
silver Jason Weber Silver North
resources and Steve cop Silver Viper
minerals so many people are speculating
that maybe we’re on the verge of what we
saw in say 7980 when the Hunt Brothers
tried to Corner the market and silver
shot higher dramatically and the big run
we saw in 2011 so again we’ll start with
you Jason do you agree with that
speculation and second part of that
question is what do you think have been
the main drivers of silver in the last
several months
well I I mean I I do believe that I mean
uh as a geologist working in the in the
silver space I think we all have to
believe it to some extent but this
actually does really feel different this
time I think it feels like there is um a
momentum shift and that I I you know we
see that you the silver price started to
run there just as pdac came on and and
and you could actually feel it uh at
those those conferences so what’s
driving it I I think a lot of the
political unrest right now um you know
what’s happening in the midd East uh
Ukraine um Russia um situation I think
that’s kind of been underpinning this
drive to some extent but then I I think
what’s going to happen is you’re going
to see that industrial demand as people
start to recognize that I’m not sure
that’s fully understood and I think
that’s going to help keep the silver
price up I I I don’t think we’re just
going to get a pop here and it comes
back down to you know the low 20s or the
High Teens so I I I think that’s what’s
going
on who wants to jump in
[Music]
here I’ll go
okay yeah so absolutely believe that
we’re on to the beginning of a silver
bull market more be more akin to the
2011
period uh some people I respect a lot
who track and model silver they and gold
they think we’re into a very longterm
bull market in fact and we of course we
hope that that’s the case um you know
I’ve been in the junior side of this
business for a long time since about
1988 and I’ve seen a number of cycles
and the one one thing that you always
see is is that silver gold ratio and it
will come back to the mean which is
currently around 60 6 5 and it
overshoots it and I think in 2011 it got
as low as maybe 35 if I recall correctly
so when it gets going it’s very
explosive and you saw some of that
action in in February here it moves it
moves suddenly and strongly and it
really needs to break that $30 Mark
psychologically to to really get going
and um on on the industrial demand side
go to the silver Institute they just put
out that uh report and some really great
data there 11% growth in industrial and
64% growth on photo voltaic so big
strong demand there and uh so it’s been
our believe for a long time we’re going
to see a silver bull market coming it
looks like we’re beginning in it that’s
our belief and all my personal belief
that’s going to go right through that
previous high of over $50 on on this
particular
B Lauren what about
you you know I I I think that in a lot
of ways we can’t fully know which way
things are going to go go up down
sideways we can all sit here and and and
speculate and I really hope that
everyone is is right that it’s gonna go
to some crazy number um but you know
that’s why we all you know that’s why
you know rain and silver focuses on
grade because you know this is a cyclic
Market you get these Rises you get these
Falls and you know in a lot of ways we
model ourselves after what Max Silver’s
done and you know that’s a deposit monio
that’s under
$8.50 for Allin sustaining cost for
producing silver and it’s a great
example for why you should focus on
great it buffers you from if people
don’t understand the value on Silver and
why it’s important and why the price
should be significantly higher than it
is and maybe that’s the millennial in me
speaking that you know the idea that
everyone’s gonna pick up on that I hope
it’s right um and you know
simultaneously making sure that we’re
focusing on projects that buffer us from
the
Cycles Steve lastly with this this
question we’ll move on to a a different
topic but uh uh we have seen a lot of
false Don in silver over the years many
silver investors speculators they always
think silver is going to the moon it’s
going to Triple digits what do you think
is this the real deal right now I I mean
I I I think I’ll partially disagree I
don’t think we’re in the 2011 2012 phase
of the cycle yet I think we’re more
towards the beginning of breaking out of
a bad cycle and when you look at gold
and silver on a macro scale these Cycles
tend to be you know 10 8 10 12 years
when you go back obviously it’s 2020
when you can look back and see where you
were you know when you’ve gone through a
cycle completely but where we’re at
right now I mean you’ve had gold punched
through it’s already beaten its all-time
high from that previous cycle and you’ve
got silver still sitting at you know
essentially half of what it was at at
the high of the previous cycle and
what’s different about this cycle and
we’ve touched on it a bit is the
industrial demand side you know gold in
those previous Cycles was tied to gold
and silver were tied together as you
know the replacement for currency and it
was you know almost 100% valued on that
monetary side now all of a sudden you
have silver you know over 50 you know
depending what you read but over 50% of
it is being valued on the industrial
side and growing year-over-year so I
think that’s what’s really going to
provide that explosive growth as we move
forward for silver as as we talk about
as that ratio comes down and we get
closer to that 50 to1 or there’s a ton
of value obviously to be made right now
as you move up just on the ratio but
then you factor in this large industrial
side for the first time in its history
that’s been you know driving a lot of
the value and what’s going on on top of
all that you start to look at the phys
the physical supply of the metal above
ground and it’s all moving East where
it’s not going to be returned back to
the west and I think and maybe the
question’s coming up later because I’ve
seen the list of questions but but
what’s really driving the price right
now for me is
that the Acquisitions of that physical
metal moving East and stting these you
know big producers of you know like
solar panels and that to produce these
in Asia and front running in you know
either going long on the metal and
taking delivery of the physical metal
but you know we saw a TD article not not
long ago saying you know in 2019 the
expectation was that we had 165 years of
silver above ground and now it’s one to
two years of Supply that those guys have
access to and that’s what’s night and
day different about any of these past
cycles and what’s really going to send
silver that much higher during this
cycle whether that’s over one to two
years or that’s over8 to 10 years like
we all hope it is and this is a long run
of this is just the start of where
Metals prices are
I think investors are either way are in
a really good shape looking at gold and
silver companies right now Jason let’s
Circle back to you and continue with
that industrial theme that this is a new
element that the shift to the green
energy and Silver’s place in that and uh
I believe it was Jim who mentioned the
uh the the demand coming out of the the
growth coming out of the the solar
industry so how how meaningful is this
this fairly new pillar to Industrial use
for
silver well I think when you look at the
last year’s data I think photovoltaic
demand was 20% of all silver demand so
that uh 10 years ago we didn’t we didn’t
even consider that so uh and that’s only
set to grow I I think that the forecast
for it uh you look at some of the new uh
U solar panel technology it’s using 50
to 150% more silver per panel and sort
of contrary to where how these things
usually go it’s usually you get more
efficient with your with your metals and
and how you use them and you use less uh
the new technologies that half of all
silver P or solar panels produced this
year will use the new technology that
uses 50 to 150% more silver per panel so
I I think uh yes photovoltaic demand is
is a big part of the picture and it is
is only growing and and that’s largely
due to that uh due to that um not not
just the the amount of panels produced
but the the type of Technology being
used and it uses more
silver anybody else want to weigh in on
that
topic well I kind of like what laurren
said it might go up it might go down it
might stay the
same kavan an old friend of mine who is
one of the discovers of the South
pipeline deposit of Cortez train was
commissioned by somebody to do a
projection on the gold price and he did
a lot of research into it that was his
conclusion at the end but you know I
stated what our belief is and where
silver is going um many years ago I
toured a uh gentleman from London who’s
a fund manager had his own fund heavily
investing in
silver and they called him High ho
silver in London he was so adamant about
it this was when silver was
$480 an
ounce and I asked him during the tour of
the mine we were at why why silver
because and everything he said was the
same reason you’d buy gold so I asked
them well why not buy gold and he said
it’s because of the industrial demand
component on it and when the monetary
demand starts to take over you H you
have this inelasticity in the supply and
this
this extra leverage on the
upside so you know there’s no question
about the industrial demands quite big
interesting what photo voltaics really
taken over from what photography used to
be and and then
some and so you’ve always got this
strong industrial demand and it that’s
why you’ve got this uh added leverage
somewhere during the cycle historically
[Music]
speaking uh let’s uh shift gears here
and we’ll we’ll kick off this segment
with uh with Lauren uh so silver is not
considered a critical mineral it’s not
on the critical minerals lists in the US
and Canada but as you probably know
there’s a push by a number of producers
to have it included should it be
included uh and the contrarian side of
that would be well let’s not bother
because that that could be uh burdensome
from a regulatory standpoint with
government oversight and so on so where
do you stand on that Lauren well I I
think the way that I look at it is yeah
silver is a brilliant metal it’s got
multiple uses and it’s a great
electrical conductor I think you know
we’re going to see a shift on that um
it’ll be interesting to see whether or
not it makes the critical metal list but
I think one of the other things to
consider about silver and particularly
silver deposits because we’re all
looking for silver deposits is silver is
a gregarious metal it likes to hang out
with lead and zinc and copper you look
at crd deposits they’re by their very
nature they they scavenge the other
elements around them which is the reason
why you see crds that also have a Cobalt
credit or a nickel credit or an indium
or a vadium or these critical metals
that are already on the list and so you
know if you’re looking at a big deposit
something that’s going to be of
significance you’re probably dealing
with something that’s
multiface and it means you’re going to
end up having those critical Metals
components and you know so even if
silver doesn’t end up on the critical
Metals list these deposits will have the
things that allow them to you know Fast
Track
their uh road to production and you know
I think it’s another indicator of you
know focus on the deposits that make a
difference you know move the move the
needle and then you get exposure to both
sides without potentially having that
you know regulatory shift silver is a
gregarious metal I like that uh Steve do
you have a do you have a a thought on
whether it it should be included on the
critical minerals list yeah I mean like
I think the reason mostly industry has
wanted it on there is we’ve gone through
two years of absolute you know having a
very tough time raising capital and
we’ve seen you know some of these
companies that have access to metals
that are on that critical list you know
are seeing government Investments and
driving their project is it’s a way that
a lot of us would hope we could get
financed whether whether we end up on
the critical list or not I think it’s
more important that those governments do
need to start looking at financing
silver companies because they have to
acknowledge whether it meets all the
little caveats of what should be on the
critical list that they need you know
for their factories and for what’s going
to be being produced in their country
they need to start to secure that supply
of silver you know and not allow you
know the companies like I know of one
mining company right now that’s selling
at $3 over spot and and they don’t want
to be named but selling directly to
China and to you know one of these
companies that produces solar panels
that wants their entire supply of silver
and so what’s happening right now while
we’re not treating it as a critical and
governments are kind of ignoring it and
not you know making sure that they’re
securing their supply is they’re
allowing that physical metal to move
East and that becomes whether it’s
critical or not does become at some
point something very important to the
manufacturing and to protecting assets
and commodities within Canada the US
Mexico wherever it is
I want to pick up on that point about
about funding and let’s direct this to
to Jason and again anybody can jump in
here but uh are you currently seeing a
positive shift in sentiment in terms of
availability for funding Andor uh
investment yeah and I think a lot of
silver uh companies are over the last
six uh six weeks or so eight weeks it’s
been um I I think the shift has been
somewhat fundamental uh especially you
know at our stage we’re at the earliest
stage of the uh of the exploration
mining cycle uh prediscovery Discovery
stage uh that’s typically been you know
through a downturn the toughest area or
toughest stage to raise capital for and
uh and I’ve lived it I can say it
absolutely has been uh we announced a
financing uh I guess it was uh mid-march
and we had incoming calls you know it
wasn’t just on the phone phoning people
up to see if they’d take part in the
financing we were getting many incoming
calls to take part in it uh which is a
change that that didn’t happen a year
ago and in the end uh we probably could
have closed on double what we had uh
what we had announced and uh our share
price was 70% higher uh you know at the
end at the closing than it was at the
start so uh that is something we haven’t
seen uh in a while as well so yes the
availability of capital is um is uh is
is easier right now I think it is easier
for the bigger companies it’s filtering
down to the the earlier stage companies
like ours so you won’t see necessarily
large volumes of of capital available
yet at our level but I think it is it is
coming I just want to touch on the
critical medals uh idea here um I think
the other aspect to that being on that
critical metal
list um may come at at the um uh later
stage in these projects as they’re
getting developed and and into the
permitting phase I think being on that
critical Metals list may be an advantage
as you go into the permitting base so I
think that is a reason that uh silver
should be added to that list it is
absolutely critical to almost anything
electronic we produce to date and if
that if we become relying on China for
Supply or they start taking all the
supply that’s going to be a critical
bottleneck for for the Western uh
countries to to produce pretty much
anything so I I think that um is another
angle why silver should be involved in
that anyone else with a comment or
opinion about the availability of
funding well I know I mean I know Jim
and I both went to the market too so
there um I I do think we we saw a little
window there I think think it kind of
has dried up a little bit here the last
you know I kind of triggered on that day
where gold fell off from its peak down
over $100 an ounce and all of a sudden
investors got a little nervous again as
they do because they’ve been through
such a long you know tough road with
gold and silver but you and there were
dozens and dozens of companies that went
to the market over the last kind of
month but I think you’ve kind of seen
over the last week or so it’s kind of it
eased off you’re seeing share prices
kind of pull back again a bit from where
they were you know two weeks ago so I
you know it’s going to come in waves but
again I think it just speaks back to
where we were that we’re at the start of
something it was great to see those
mining Focus funds have some inflows and
finally have some Capital to deploy
seeing you know the retail guys who’ve
kind of been there over the last two
years because they’ve seen the market
kick so much and placing their bets as
well but but it was the first time we’ve
seen funds want to participate in a
financing in over two years so I agree
there is a start going there and there’s
the generalist funds and people are
starting to pick up the chat and the in
the main media and wanting to get
involved but it’s going to go through
abs and closes we always see in the
silver space and you’ve got to have your
timing right and be ready to go to the
market when when the capital is
there did you want to jump in there
Lauren yeah I mean we we got really
lucky that you know in large part
because of the projects that we’re
working on in you know particular
Griffin where you know Thursday last
Thursday yeah redcloud called up and
said hey we have appetite for your
project and we said that allows us to
drill you know a thousand more meters
Plus plus you know yeah let’s let’s take
advantage of that so yeah the Market’s
tapering off maybe a little bit but you
know it’s really exciting to see people
excited and particularly excited about
the kind of projects that really move
the
dial okay a couple of more questions for
each of you and then we’ll wrap this up
would you say and I guess we’ll how
about we go to Jim here um would you say
that the the biggest challenge facing
silver explorers developers producers
are inflationary cost or would you
disagree with that no uh that’s not the
biggest challenge okay uh the biggest
challenge I would say is
regulatory challenge a political
risk H and particularly regulatory uh
the regulatory uh hurdles that you have
to go through now it takes a very very
long time to get permitted some some
regions just for expiration Drilling and
certainly for mining it Almost Doesn’t
Matter What country you’re in anymore
and then part of that of course is the
social license that you have to gain now
has become uh very prominent very heavy
and uh and but I think the single
biggest is the regulatory regime in the
different countries that you’re dealing
with and in the timelines to get work
done Jason do you agree with that yeah I
I do I I think the fact that you um you
know you you you used to go try to get a
permit for drilling and uh the regulator
you deal with would would be able to
give you a timeline and it would be you
know when I started in this business it
was fairly reasonable and now they they
won’t even give you a timeline in a lot
of cases you know depending on where
you’re working but they just it just
takes so much longer so I agree with
with Jim wholeheartedly on that I do
think the you know when when you’re
talking silver specifically I think the
volatility and Steve kind of touched on
it you know the volatility in the silver
market has always been there and we see
that and and so you know we in the last
say week or so you’ve seen maybe
financings drop bit share prices come
off Jim touched on it there’s that
nervousness that the silver investor has
um that you know that also hurts so if
you didn’t get in your financing done in
the last month or so maybe it’s a little
more challenging so
um we’ll climb that wall of worry here
for for a while if we indeed are in the
early stages of the bull market and and
get through that but that volatility I
think does play a part for silver
investors and especially at you know for
companies like ours you know at that
Discovery
stage anybody else well I mean I I think
one of the things too is so much of what
we’re dealing with is out of our control
um I mean we can we can Lobby we can try
to Express what’s going on and how it
benefits us or causes US problems but I
think at the end of the day one of the
big things is Project selection and
jurisdiction selection and putting those
pieces together I mean we’re really
lucky that you know the project we’re
working on this summer is in Elco County
it’s going to take us four to six weeks
to get our permitting um and we already
have permits on on some of our our our
drill pads already and you know it’s one
of the things that I think is going to
become a bigger Factor um you know
particularly moving forward and you know
it just reinforces the idea that you
need to focus on high-grade big projects
because whether it’s a low grade asset
or highgrade asset there’s gonna be a
lot of work that has to go into putting
it into production um and so you know
whoever ends up doing that whether it’s
a major or a junior you know you want to
do that with the kind of project that’s
worth it um worth that time worth that
effort because you know that’s that’s
how you create
generational all right last question for
each of you 45 to 60 seconds if you
could if possible and we’ll wrap it up
here we’ll keep it going with the Lauren
if you could lay out what you think of
the key factors in the bullish case for
silver and how your company rain of
silver is position to benefit well I
think silver is a fantastic metal I mean
it’s both a resource and a commodity
it’s you know it comes along with many
friends that can also allow you to have
your cake and eat it too um and you know
whether the market pays attention to
that and we see the bullish run that I
think you know we’re all optimistic for
um you know one of the things that I
feel like a broken like you know I keep
saying this but you know so much of it
comes down to the quality of project
that you’re selecting and what you focus
on and that allows you’d be buffered
from that and it’s also how you get the
most leverage to if silver goes for a
run you know those high-grade deposits
go that much further and you’re not
sitting there worried about what happens
when silver comes off and you know if a
silver investor
is skittish about what’s it going to do
it’s reinforcement to focus on the kind
of projects that you’re still excited
about when silver was you know down low
and um you know it’s it’s gonna be
really interesting to see what comes out
of you know the next couple of years and
yeah I’m definitely excited for it all
right thanks Lauren let’s go in order
here uh Jim Jason Steve as we uh as we
go through your thoughts here to wrap it
up okay so on the on the macro with
regards to Silver it’s been running a
structural deficit for several years now
it’s creating a tightness that when the
monetary demand really begins to kick in
then it could be very explosive we’ve
seen this historically it repeats itself
so it it’s a it’s an income we outcome
we believe is going to happen uh Lauren
is absolutely correct we can’t predict
the future we don’t really know we’re
looking you but we’re looking at the
macro what’s going on that’s that’s our
belief
projectwise we’re Cy silver really well
situated for that sort of scenario with
a huge inventory of silver in the ground
plus a brand new high-grade discovery
which of course Works in any silver
environment the quality of the high
grade is something Lawrence mentioned a
few times now and it certainly is to go
to an old adage great is King and so
we’re really well situated whether
silver moves or not but especially if it
does and of course uh we’ve I’ve talked
touched about that we certainly believe
it’s going to go on a great run here and
we’re probably at the beginning of that
now Jason
yeah I think uh you know as I touched on
earlier we really see kind of two two
Mega Trends coming together here the
economic sort of political situation
that’s that will drive precious metals
but then you have the intersection with
with this industrial demand that uh that
we’ve all we’ve all talked about and I
think those two combined are are really
a strong macro case for silver uh going
forward and and you know we talk about
that quite a bit here in our office just
about where the silver market might go
as for for Silver North itself I think
you know we’re where we add value
regardless of what the price of silver
does is adding you know silver ounces to
to our portfolio making discoveries
drilling making new discoveries adding
on to what we’ve got and that’s really
where the value for anybody looking at
our company is you we have a $7 million
market cap right now we make a new
discovery either with K our partner at
Tim or at up at halane in in The Kino
District that’s where you know as Lauren
said generational wealth is is created
that’s where you know our market cap
goes from 7 million to to to much much
higher uh just because of the discovery
of those allenes So for anybody looking
at Silver North I think it’s you look at
us this year we’ll have two active drill
programs that’s two uh two projects that
uh that can make discoveries and and
that’s is where the value is added for a
company like ours last word to Steve
yeah I mean on the macro side I mean I
obviously I agree with with all three
people people have said before me here
but it’s just you do have this kind of
Perfect Storm Brewing of right now
you’ve got the above ground Supply is
disappearing you’ve got reserves and
resources are disappearing we’ve talked
about politically how it’s harder and
harder to permit things so even people
that have and there’s not that many but
people and a lot of them are in this
room have assets that have exposure to
you know quality silver that might make
sense at the prices we’re seeing today
because you know our grades are higher
or better than than a lot of our peers
if we’re going to even start to T tackle
on the grand side what it’s the amount
of silver it’s going to take to replace
those reserves and resources and the
increased Demand on the industrial side
I mean just on a simple supply and
demand and what’s it’s going to take
much much higher levels of silver to
make you know the the sub tier the
average you know projects that are out
there right now and even then I don’t
think all those resources replace what’s
coming off in the demand side so you
know we do need you know 10 years ago we
need a $25 silver for the producers to
break even or make a little bit of money
now you know with inflation over the
last 10 years
is $30 you know it’s kind of the number
they get thrown around a lot that people
need to see before they start to get
excited about silver we need much higher
numbers to even make a lot of the the
deposits that have resources on them
economic to get going you know people
talk about all in sustaining costs well
if you pay attention those are still not
the true numbers of what it actually
cost to run those companies and make
things go I mean that’s been we used to
have cash cost was the number and that
was the most manipulated worst number in
the industry they replac it all
sustaining cost a little bit better and
Jim’s laughing because he knows what I’m
talking about but you know it’s the
numbers are much higher like mining
companies are great at hiding costs and
bearing costs you know as accountants
and moving things around so we need
probably $30 silver to break even on
good assets or average assets that are
primary silver focused so again there’s
a perfect storm out there we need higher
silver prices to start bringing on new
projects or a lot of the new projects
especially the primary silver ones and
then from a company side obviously I
love that we’ve got 60% gold 40% silver
our grade for similar types of deposits
in the state of sor is very very good we
bring that s that exposure to the silver
upside at 40% you know you talk to like
you know spra or some of these other
funds that own you know our companies
say at 40% silver one one of the higher
percentage silver companies they own
because they’ve had to diversify because
there’s not a lot of quality silver
exposure assets out there and they want
more you know more and more gold
exposures so again I think as a company
we’re very well positioned we’ have a
lot of what Jason and Jim and Lauren we
all have you know new discovery
potential and expanding on new projects
which is a good Market is going to drive
a lot of value way but also you know in
in Jim and lawren side where we have
already have existing resources that
we’re going to get exposure to as medals
move up both on the gold and silver side
and as people start coming back into the
sector and looking for those quality
assets companies like ours that are
going to be the first to see that
investment and see money pour back into
but the sector as a whole is going to
rise and everyone’s going to do well in
the sector as we move into a rising
silver and gold
market well great Insight from all of
you today we really appreciate it you
gave us a lot to think about thank you
for your time and we’ll see you down the
road have a great rest of your day
thanks Mark appreciate it thanks Mark
thanks everyone take
care and thank you all very much for
watching a reminder you can watch a
replay of any or all of this uh show on
red Cloud’s YouTube channel redcloud TV
rctv check that out also go to redcloud
Financial redcloud fs.com all sorts of
uh great content there video and
otherwise on the mining sector and
specifically on companies and speaking
of companies uh why don’t you go to
redcloud research.com it’s complimentary
research on there you get some some
really great uh Insight from our
analysts about various companies and
also macro pictures on various
Commodities uh as well thanks again for
joining us today we will see you next
time take care
[Music]
SILVER ON THE MOVE: Investors search for opportunity in a rising market.
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1 Comment
Would love to ask the Q of APM mgmt the fines have .15% TIN will any be recoverable