Category: Exclusive Interviews

ANDY SCHECTMAN | Owning a Precious Metals IRA

Post author By admin
Post date December 10, 2018

Andy Schectman the President of Miles Franklin Precious Metals Investments sits down with Maurice Jackson of Proven and Probable to discuss the strategic advantages available to precious metals investors regarding tax loss selling, and the value proposition of owning precious metals IRA, which is redeemable in cash and or physical precious metals.

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Owning Precious Metals in an IRA

Original Source: https://www.streetwisereports.com/article/2018/12/10/owning-precious-metals-in-an-ira.html?utm_source=na_19081&utm_medium=recommended_article&utm_campaign=internal_recommended_article

Source: Maurice Jackson for Streetwise Reports (12/10/18)

Andy Schectman of Miles Franklin Precious Metals Investments discusses with Maurice Jackson of Proven and Probable some benefits of holding precious metals in IRAs as well as some other tax advantages of precious metals.

Maurice Jackson: Welcome to Proven and Probable. Joining us is Andy Schectman, the president of Miles Franklin Precious Metals Investments.
In our previous interview, we addressed the value propositions and opportunity of a lifetime available right now in silver and platinum. Today, we will address two very important topics regarding tax law selling in precious metals RAs.
Mr. Schectman, before we begin, for first time listeners, who is Miles Franklin, and what type of services do we provide?
Andy Schectman: Thanks, Maurice. I’m going to address that in one second, I just want to say for your listeners, they ought to go back and listen to that last interview. I wouldn’t say something as sincere as I believe it to be the opportunity of a generation in silver right now and a strong opportunity in platinum. I really do believe that. And I know we’re not going to talk about that today, so I would really hope that your listeners would go and take advantage of listening to that. It’s as sincere as I can be.
Miles Franklin, Maurice, is a precious metals company, been in business now for 29 years in the state of Minnesota. We’ve never had a customer complaint, ever. We’re one of only 27 or 28 companies ever approved by the United States Mint. We maintained an A+ rating with the Better Business Bureau. And we have a reputation in this industry that is synonymous with honesty and integrity. And that’s exactly why I work with you, Maurice. I have you on my website. You’re a man of honor and that’s what we ascribe to be.
But the state of Minnesota does not care about our intentions or what we ascribe to be or our reputation in this federally non-regulated industry. And for over two years now, Minnesota is the only state in America to regulate the precious metals industry with a large surety bond and background checks of all our employees every single year, including principals, and compliance and continuing education that no one else has to abide by, unless they either reside in Minnesota as a precious metals company, or sell gold into the state as a precious metals company.
And what it really means in a federally non-regulated industry, Maurice, is a reputation that’s as solid as it gets, and the state of Minnesota guaranteeing that should anything ever go wrong, there’s a large surety bond in place to take care of any discrepancies. So, not that that will ever happen, but certainly the state of Minnesota guarantees that it won’t. And a little insurance in a federally non-regulated industry is not a bad thing, in my opinion.
Maurice Jackson: Andy, I want to begin by thanking you for the compliment. The respect is mutual. A number of investors in the stock market understand the advantages of tax-loss selling when it comes to their stock portfolio. But I find that in many circumstances, precious metals investors are not aware that they may implement a similar strategy on their physical precious metals holdings. Can you share with us some of the options precious metals investors may use to their benefit?
Andy Schectman: Actually, yeah. I find that a lot of accountants don’t even know how this rule applies, the difference between a precious metals tax swap or tax loss versus a security’s tax loss opportunity. Let me explain. When you sell a security for a loss, you are not allowed to buy it or anything similar to it back for 31 days. Or if you do, it’s a violation of what’s called the 30-day wash rule. The intention of that is imagine you have a large capital gain. You sold an investment property or sold a stock at a huge gain, or cryptocurrency at a huge gain, and you have a stock that you really like at a loss. You’d like to book that loss, but you don’t want to relinquish custody of the stock. So, the idea would then be sell the stock at a loss to cover the gain, to offset it. And then just buy it right back for the typical commission in buying a security on something like Scottrade that might only be $9.
The bottom line is that the federal government says, “Well, you can sell a security to offset a capital gain, you can use a capital loss to offset a capital gain. But if you do that, you can’t buy that same stock back or anything similar to it for 31 days.” Okay, fine. That 31 day wash rule does not apply to precious metals. So, if we were talking about trading gold for gold or silver for silver to book a loss and buy it right back, that’s completely, totally legal, as long as custody changes place. So, in other words, if you had gold to sell and you wanted to book a loss at these low levels, and either apply it towards a capital gain today, Maurice, or government allows you to carry that forward either … I think it’s $3,000 a year off or regular income, or you can carry it forward indefinitely until you have a capital gain.
But if you do it for the exact same product, in fact, the exact same product that you sell, you just decided to buy it back immediately, you can do that as long as custody changes hands. You’d have to send it to us and then we send it back to you. Just normal business spreads apply. But then you can book that loss. But, looking at gold to silver right now, I guess we can touch on it for a second. Never been a better time to kill two birds with one stone, sell your gold at a loss, book that loss and convert it to silver at 86 to 1 ratio.
That ratio, Maurice, has only been seen or bettered once in the last 50 years in 1993. When you look at silver right now, I see a historical ratio of silver to gold of being 40 to 1 going back 100 years. Over the last 50 years, it’s a little higher at about 45 to 1. But anytime you can see 80 to 1 bettered at all, typically you see it revert pretty darn close back to the mean, sometimes even below it. Last time was 2011. We had an 80 to 1 ratio for 2010. And by 2011, we had $2,000 gold and $50 silver at a 40 to 1 ratio. You would have doubled the amount of gold when you swapped back in.
Huge opportunity now to trade gold to silver, book a loss, buy silver at a rate we haven’t seen but once in the last 50 years, with the intention, Maurice, of someday swapping back into gold and maybe doubling it or better when these ratios normalized. And if you read our newsletter today, there are a plethora of reasons why we expect silver to be among the very best performing assets on the planet going forward.
So the bottom line is that the precious metals tax swap or tax loss plan is actually far more encompassing and liberal than is the security’s tax swap that inhibits you from buying anything similar to it, whatever you sold, for over 31 days.
Maurice Jackson: And the key here, again, is that ownership has to convey.
Andy Schectman: Right. Let’s say someone had something in the storage facility, like one of our Brinks facilities or any facility—we have relationships with just about every major storage facility in North America. A client maybe has a couple thousand ounces of silver in a storage facility. They would sell it. It gets transferred to our parent account in that facility. And they’d buy it right back at normal spreads. Here’s a little cherry on the sundae. While we sell something and book a loss, we give that information to our accountant.
The accountant never says to you, “Maurice, what did you do with the proceeds of that sale?” Your answer should be, “None of your business.” If you’re a nice guy like you, you’d probably tell them what you did. But the point is, is that if you sold something at a loss and then bought it back, there is no obligation to report what you did with the proceeds of that sale. And if you’re using the proceeds of the sale to finance the repurchase, the difference may be one or two percent. You can send a check for two percent. But the point of it is, is that if someone sells $100,000 worth of metal and then immediately turns around and buys it back, and gets ninety, eight cents on the dollar for it. So it costs them two percent to do the swap, but they just saved 20, 30, 40, 50 percent on capital gains.
It’s a home run for the client, not only in the tax savings, but also in the fact that we live in a world of decreasing privacy. And the loss in privacy in and of itself in buying gold is writing out a check or sending a wire. That wouldn’t happen here, because the only amount of money that’s going to be exchanged is the two percent or the client could simply say, “Just keep it out of the gold or silver. Give me back my 98 percent and that’s fine.” That transaction now is, for all intents and purposes, paper trail free completely and totally legal.
So at some point, let’s say a client were to get audited for something unrelated and they see this transaction. Well, you have the receipts, you have the metal. You just didn’t write out a check to reacquire it, giving you a whole bunch of privacy to boot.
Maurice Jackson: This is some valuable information. Andy, I’d like to switch gears here and still stick with precious metals, if I may.
Miles Franklin offers physical precious metals, IRAs, which offer some unique features. But most important, these IRAs can be redeemed in physical precious metals. What type of clients have physical precious metal IRAs?
Andy Schectman: I don’t know that there’s a specific type. But for my money, the best person to own a precious metals IRA is someone who is at or nearing distribution phase. I’m sure you know, Maurice, on a traditional IRA, when we are 70 and a half years old, the federal government says we need to take what’s called a required minimum distribution. In other words, you cannot let it continue to grow without taking a minimum distribution from it when we turn 70 1/2 years old, or you start to receive a penalty if you don’t.
So you take a minimum distribution every year, once you turn 70 1/2. For me, because this investment or the IRA allows you to take what’s called an in-kind distribution, where you would say, “You know what? Just send me my gold eagles or my silver eagles,” or whatever it is that’s being stored for you. And the list is pretty lengthy as to what you can store in a precious metals IRA, just pretty much has to be either American made, or 24 karat in gold, or 0.9995 in silver, and LBMA approved or Nymex approved metal, and it can be stored in an IRA. So the neat thing about it is the distribution in kind. Instead of taking a check, you can take your metal back.
So, someone who wants to buy gold from me. Let’s say they’re 70 years old or 69 or 68, one way to make a big splash in the gold pool without writing out a big check is to transfer an IRA into a precious metals IRA, fund it with gold and silver, and then start taking distributions of it through your IRA distribution channels. So for me, because it’s a non-interest bearing investment, I think it is a perfectly suited for someone at or nearing the distribution phase.
Maurice Jackson: Now, do I have the option of owning gold, silver, platinum, and palladium in this physical precious metals IRA?
Andy Schectman: Yes, you do.
Maurice Jackson: Now, as the ratios change, may I sell within my holdings, exchanging one metal for another?
Andy Schectman: I love the way you’re thinking outside the box. It’s the best vehicle for doing it because there are no tax consequences. If anyone is holding gold right now and not at least contemplating trading it to silver, or owning palladium and not contemplating trading it to platinum, they’re making a mistake. These ratios, Maurice, are so far out of whack, it is akin to four feet of snow in Phoenix. And if it snowed four feet of snow in Phoenix this morning, I promise you no one in Phoenix was rushing out to buy snowmobiles. It’s an anomaly and that’s exactly same thing we’re seeing right now. So, yes, if you have it in an IRA, if you have gold in an IRA, it is an absolute perfect vehicle to trade the silver. You have it stored, the storage fees are static, and there are no tax consequences. It’s a great vehicle for doing it.
Maurice Jackson: What is the maximum contribution I may make annually?
Andy Schectman: Contributions cannot go higher, in both traditional and Roth IRAs, than $5,500 per year, $6,500 if you’re 50 or older. The perfect vehicle, Maurice, is a transfer or a rollover, a transfer being you transfer a portion of an existing IRA, or you rollover the entire thing into a new precious metals IRA. That’s the best way to get a larger amount of money into an IRA.
Maurice Jackson: And that alludes to my next question here. So, if you currently have a 401k, you can’t transfer that over right now. But if you’re no longer with that employer, can you take your 401k and transfer it over?
Andy Schectman: Absolutely. And if you are no longer working with an employer who offered a 401k, you’re crazy to not move it out of said 401k, because of the lack of flexibility that the 401ks offer. And the whole idea for being in a 401k, or the whole incentive, is to have it matched. The matching that the employers typically provide is incentive to keep it in. But leaving it in a 401k, which is just a couple of different choices within that platform, instead of having the ability to self-direct it, it would be a mistake. A 401k is a little bit different. You would turn it into a self-directed IRA, and then purchase the metal. But either a traditional IRA can be rolled over or transferred, or someone who had a 401k would transfer that to a self-directed IRA without any taxable issues, and then purchase metals that way.
Maurice Jackson: Lastly, what if I wanted to leave a lasting legacy with my children or grandchildren? May I open up a precious metals IRA for them?
Andy Schectman: You know, Maurice, I truly believe what has made me successful, among a few other lucky breaks, is being very objective. And the salesman in me wants to say, “Yeah, sure, absolutely. Great idea.” But I think in truth, if someone wanted to leave a lasting legacy for someone, a child or a grandchild, number one, someone who has many years, a life ahead of them, interest bearing is important. And if you could put it into something interest bearing, preferably compounding, that is the key to grow in wealth. But as far as precious metals, when I started in this industry, I was 19 years old. And my father and I started this company together. And he said to me when we started, “There’ll be one rule and one rule only.” And that is that I’ll buy something every two weeks or he’ll fire me. I’m the president of the company now and I own 51%, so he won’t fire me any longer. But I have honored my commitment to him for over almost three decades. And every two weeks, I have purchased precious metals, every two weeks for 29 years. I have not missed a two-week period.
To me, it is wealth. And the best way to accumulate wealth is to do it that way, privately, not in an IRA where it’s going to sit there for a long period of time because it’s a very different set of conditions to call precious metals in your possession that you and only you know about it versus having it in an IRA. And I don’t think I need to elaborate on that anymore. But I simply think that my grandchildren will greatly appreciate, hopefully someday, receiving gold and silver that was first passed on from my father, and to me and my sister, and from me to my three children, and hopefully from them to their children and etc.
And it’s done so in a manner that is very private. And I think, in a world of decreasing privacy, a little bit of extra privacy is a nice thing. And, you know, there are proper ways to pass money on in your estate. And if you can have a little bit of privacy to boot, that’s not a bad thing.
Maurice Jackson: Mr. Schectman, thank you for sharing your wisdom and insights. For someone that wants to get more information regarding today’s discussion, please share the website and phone number.
Andy Schectman: The website is milesfranklin.com. And my phone number directly is 1-800-255-1129. And my personal email is Andy@MilesFranklin.com.
Maurice Jackson: As a reminder for our audience, we are licensed brokers to buy and sell gold, silver, platinum, palladium, and rhodium, offshore storage accounts and precious metals IRAs. If you wish to have a conversation with me, please email Maurice@MilesFranklin.com or call 919-274-5680.
And last but not least, please visit our website ProvenandProbable.com, where we interview the most respected names in the natural resource space. You may reach us at contact@provenandprobable.com.
Andy Schectman of Miles Franklin Precious Metals Investments, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

1) Andy Schectman is the owner of Miles Franklin Precious Metals Investments.
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Exclusive Interviews Precious Metals

NxGOLD Explorer’s Focus Is on ‘High-Grade Gold in World-Class Districts’

Post author By admin
Post date December 5, 2018

Christopher McFadden the President, Director, and CEO of NxGold sits down with Maurice Jackson of Proven and Probable to discuss peak gold and the value proposition that it presents for current and prospective shareholders. In addition, we will discuss 3 press releases very important press releases covering soil, grab, stream sediment samples, trenching, mapping, and assay results.
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Original Source: https://www.streetwisereports.com/article/2018/12/04/explorers-focus-is-on-high-grade-gold-in-world-class-districts.html

Explorer’s Focus Is on ‘High-Grade Gold in World-Class Districts’
Contributed Opinion

Source: Maurice Jackson for Streetwise Reports (12/4/18)

Chris McFadden, CEO of NxGold, sits down with Maurice Jackson of Proven and Probable to discuss his company’s exploration efforts on two continents.

Proven and Probable: Joining us today is Chris McFadden, the president, CEO, and director of NxGold Ltd. (NXN:TSX.V), where the focus is on high-grade gold in world-class districts.
Mr. McFadden, in our previous interview, we conducted a thorough, comprehensive interview regarding the value proposition of NxGold. For current and prospective shareholders, please read our in-depth exclusive interview published in September. Mr. McFadden, for someone new to the story, who is NxGold and what is the thesis you’re attempting to prove?

Chris McFadden: NxGold is a Vancouver-based gold explorer. Our main objective is to discover high grade large volumes of gold in first-class jurisdictions. So currently we have projects in Canada, projects in Nunavut and also in Western Australia in the Pilbara region.
Proven and Probable: I want to begin our discussion at the 10,000-foot level and get your perspective on a topic that has a number of speculators’ attention and that is the discussion of peak gold and how this may serve as a catalyst for junior mining companies and, in particular, NxGold.
Chris McFadden: I think that’s a great question because I think what we’re seeing in the industry at the moment and it’s something that’s been coming over the horizon for a few years now is that the majors have really cut back their exploration. They’re not spending the volumes of money that they used to spend on exploration for new gold deposits. So, over the last 5-10 years, actually there’s been a dearth of high-class, large-scale gold deposits and the majors are huge drop off in their production, in my view. You look at some of the production profiles for the big companies and gold production is going to potentially drop significantly in the years ahead because there hasn’t been that money spent on exploration.
So for companies like us that are exploring, that are spending money in the ground pursuing the next great discovery, I think there’s great potential there because if majors want to grow and stay in existence they need to look to juniors like us who are actually doing the work and opening up new teraines.
Proven and Probable: In our last interview you shared the next unanswered question for NxGold will be the implementation of a systematic approach to exploration and the anticipation of drill results. Since then NxGold issued three important press releases. Beginning with the 10th of September (Press Release) the company received and compiled assay results, preliminary mapping, trenching and lab analysis from the stream sediment samples. Share the details with us.

Chris McFadden: The company adopts a very systematic approach to its exploration. So we’re starting with very basic style exploration with stream sediment sampling, some trenching and grab samples. So that release from September was the output from the first phase of work at the Pilbara Project in Western Australia. One of the key highlights was in some of the trenches we opened up we had a visible gold in a specimen; after assay there’s 102 grams of gold in that specimen, also some silver, which was interesting as well.So that first pass work was a fairly random sediment sampling process. But those results were in that release. There were a number of other interesting results and in some of the sediment samples we took there was visible gold as well. So, obviously there’s some gold on the property and this highlights that for us.

Also it was very interesting because on the ridge we have on the southeastern side of the property there was consistent and numerous samples of an extended length of approximately 1.2 kilometers where there was visible gold in the stream sediment sampling. So that encouraged us. As I think I said in our original interview, each exploration dollar needs to be justified by success in the results that we obtain. So that encouraged us to proceed to continue our exploration work in the Pilbara Project.
Proven and Probable: On the 15th of October (Press Release) NxGold discovered a new vein exposure on the east side of the property called the Sun Target Area. What can you share with us?

Chris McFadden: Well, the Sun area is right over on the eastern side and is on the other side of the ridge if you’d like. So, from that first release and subsequent release will say that a lot of the attention is on the western or northwestern side of the ridge of the property. Sun is over the other side in the area where we haven’t previously done much work. Where there also wasn’t much connectivity from prospectors. So it was a bit of a punt on our part to go to the other side of the ridge, but we’re looking to see what happened on the other side. We were very encouraged to find some bits of good results from that side. Also, to find that vein on that side because what we’ve seen on the northern, or nort western side of the ridge with our trenching, also with mapping, is that there are considerable numbers of veins. It’s really exciting that they’re continuing on the other side of the ridge.
Also on that side of the property we’re much closer to the Artemis Resources grab and we know that it has been finding some good veins and good nuggets on its property as well. So it seems that with that result that there is some extent potentially to the system in this area.
Proven and Probable: This week NxGold issued a third and equally important press release regarding follow up work on stream soil and rock grab samples. What has the company excited here about the latest findings?
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Chris McFadden: What’s interesting from this latest release is the consistency of the results we are obtaining and that’s it’s confirming our earlier work that there is a primary source of gold somewhere here on this property. So it’s highlighting the key prospects on the property that we’ve been working on in the Sun, in the areas we call Eagle in particular and Hawk. So the particular areas of the property, Eagle and Swan and Hawk, where prospectors have been finding nuggets for a considerable period of time. So the results tell us that there is a primary source of gold here and we’re narrowing our focus down onto those areas as a result of this work.
Proven and Probable: Switching gears, multilayered question, what is the next unanswered question for NxGold? When should we expect results? What determines success?
Chris McFadden: As we reported in our last press release, we have undertaken some very systematic grid soil sampling at the Pilbara Project in the Eagle, Swan, and Hawk areas. So it’ll be really interesting to see what comes out of that systematic soil sampling process. We have something like 140 samples in total on those areas that we’re expecting results from very soon, hopefully in the next week or two at the latest. That will give us a really strong indications of where the primary source of gold is we hope on this area of the property. So it’ll be really exciting for us and really interesting because we can then use that very systematic grid soil sampling and combine it with our stream sediment sampling and our trenching rock chip sampling and the magnetics that we’ve done over the area.
We’ll have multiple layers of geological information that we can then interrogate to ensure that we have a really strong picture of what’s going on under the ground here at the Pilbara Project in Western Australia. Another interesting or exciting element that’s coming over the horizon is we’re very hopeful that the remaining licenses in this area, which have been under application for the last 12 months since we acquired the property, we’re hoping that they will be granted to us again in a very short term. That will also allow us to extend our exploration efforts in the Pilbara Project area, particularly we’ve been working right up to the edge of the boundaries there at Hawk. We’ve done the systematic soil sampling pretty much right up to the edge of the granted area. This will allow us to move then into the application areas and effectively almost double the area that we can work at the Pilbara Project.
So in terms of what amounts to success from this project and the work that we’re doing and hopefully soon to announce, it’ll be the identification using the systematic multilayer approach to exploration that’ll allow us to narrow our focus on target it on areas for the next stages of work.
Proven and Probable: Last question here for you, what did I forget to ask?
Chris McFadden: Well, as usual Maurice, your questioning is very in depth, but one thing we haven’t spoken about is the Kuulu Project in Nunavut. That’s still a project of great interest to us, but we continue to be unable to obtain the surface license that we need. But we continue to work with the communities there and are working very hard to try and find a solution to that challenge that we have. But we’ve been very patient there because that has the potential to be a truly world-class exploration project.
Proven and Probable: Mr. McFadden, for someone listening that wants to get more information about NxGold please share the website address.
Chris McFadden: Certainly, it’s very simple. It’s NxGold.ca.
Proven and Probable: As a reminder, NxGold trades on the TSX.V symbol NXN. For direct inquires please contact Travis McFearson at 604.816.2686. He may also be reached at TMcFearson@NxGold.ca. NxGold is a sponsor of Proven and Probable and we’re proud shareholders for the virtues conveyed in today’s interview. Last but not least, please visit our website www.provenandprobable.com where we interview the most respected names in the natural resource space. You may reach us at contact@provenandprobable.com.
Chris McFadden of NxGold, thank you for joining us today on Proven and Probable.
Investor RelationsTravis McPherson
Tel: 604-816-2686
tmcpherson@nxgold.ca
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

1) Christopher McFadden: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: NxGold. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: NxGold.
2) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: NxGold. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: NxGold is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below.
3) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
4) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
5) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
6) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
Proven and Probable LLC receives financial compensation from its sponsors. The compensation is used is to fund both sponsor-specific activities and general report activities, website, and general and administrative costs. Sponsor-specific activities may include aggregating content and publishing that content on the Proven and Probable website, creating and maintaining company landing pages, interviewing key management, posting a banner/billboard, and/or issuing press releases. The fees also cover the costs for Proven and Probable to publish sector-specific information on our site, and also to create content by interviewing experts in the sector. Monthly sponsorship fees range from $1,000 to $4,000 per month. Proven and Probable LLC does accept stock for payment of sponsorship fees. Sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.
The Information presented in Proven and Probable is provided for educational and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The Information contained in or provided from or through this forum is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice. The Information on this forum and provided from or through this forum is general in nature and is not specific to you the User or anyone else. You should not make any decision, financial, investments, trading or otherwise, based on any of the information presented on this forum without undertaking independent due diligence and consultation with a professional broker or competent financial advisor. You understand that you are using any and all Information available on or through this forum at your own risk.

Energy Exclusive Interviews Precious Metals

MICKEY FULP | Translating the Mindset of Peak Oil to Peak Gold

Post author By admin
Post date November 18, 2018

The Mercenary Geologist Mickey Fulp discusses with Maurice Jackson of Proven and Probable how peak oil could inform investment in gold miners.

VIDEO

AUDIO

TRANSCRIPT

Original Source: https://www.streetwisereports.com/article/2018/11/18/translating-the-mindset-of-peak-oil-to-peak-gold.html
Maurice Jackson: Joining us for a conversation is the Mercenary Geologist, Mickey Fulp. Pleasure to speak with you.
Mickey Fulp: Thank you, sir.
Maurice Jackson: Mickey, one of the concerns that I think speculators are having in the natural resource space is this concept of peak gold. What can you share with us?
Mickey Fulp: Well, there’s this idea now of peak gold. And it’s really morphed out of the concept of peak oil, which was promulgated by a famous geologist/geophysicist in the late 1950s on the idea that U.S. oil production would peak in 1970 and never reach that level again. His premise was based on the natural depletion of giant oil fields discovered in the United States, and he was right. But people have sort of bastardized that concept now into gold.
They took the tack that the world was running out of oil when we had reached peak production, and we would never achieve this sort of oil production in the U.S., for example, ever again. Well, lo and behold, it took 47 years for us to recover. But now we’re producing more oil than we ever have. So this idea that the world is going to run out of a natural resource or reach peak production is fraught with difficulty.
We produce more oil in the world right now than we ever have. And next year, we’ll produce even more because demand continues to rise, at about 1.5% a year. So in the oil business, we’re now using 100 million barrels of oil a day. Five years ago, we were using about 92–93 million barrels a day. And where’s that production come? Well, it’s come from peak, or from shale oil, and technology catches up. If the demand is there, my opinion is that the supply will be found—70% of the oil in the world is still left in the ground. I’ve taken that concept and applied it to the gold business.
Maurice Jackson: And what do we see as far as peak gold?
Mickey Fulp: Well, starting in 1900, the world produced 393 tons of gold. That would be something on the order of 10 to 12 million ounces a year, more or less. Now we produce 3,150 tons per gold in 2017, an all-time high. That’s 98 million ounces per year. So more than an eight times increase. And that’s been driven in cycles of exploration, so things like economics, world economics, wars, prices of gold, all effect that production.
But the real key to increases in production, at least since gold was floated by Nixon in 1971, is the exploration cycle. Generally, what we’ve seen over the years is gold increasing, but kind of in a two steps forward, one step back way. It’s a somewhat jagged line, but with these long runs of increased production. And then we’ll have a war, we’ll have a depression, and gold protection with the war will go down; with the depression, it goes up.
And so we keep going and going and going. Since 2008, we’ve been on a steep curve of increasing gold production. The CEO of Goldcorp Inc. (G:TSX; GG:NYSE) came out in the early part of the year and said all the good gold deposits have been found. There’s no giant deposits that are going to be found anymore. And the world’s going to never produces much gold. Well, I think he’s talking his own book and if you look at Goldcorp, of course production over the last three years, it’s going down.
It’s gone down 25% from 2015 to 2017. You look at the other major miners, such as Barrick Gold Corp. (ABX:TSX; ABX:NYSE), which is down 40% off its peak around 2005. Newmont Mining Corp. (NEM:NYSE) is about the same amount off its peak production in 2006. So I would take the tack, that the major gold miners have reached peak production, peak gold. But that’s been filled.
Where’s all this additional production coming from? It’s coming from the new companies, the new mid-tiers that have been built since the year 2005. As a whole, you know, there’s about nine mid-tiers now. And then it’s also been filed by a number of small miners in all parts of the world. The majors are down something like, all told, 50% of their gold production since mid-2000s. Meanwhile, production is up about the same amount, it’s up 37% since 2008. It’s filled by new companies.
Maurice Jackson: So would you say then that the majors have a flawed business plan?
Mickey Fulp: Absolutely.
Maurice Jackson: And in what regard?
Mickey Fulp: The biggest flaw in the industry amongst the majors—and it applies to other companies too—is they’re focused on growth. And mining is not a growth industry. Mining is the value industry. So when prices were high, they lost a view of what they should be doing, which was producing high margin ounces. It’s about the margin, the cost of production, versus the amount you sell, and that’s your profitability. So they’ve had this grow, grow, grow mentality—what I would call a New York style of capitalism. It does not work in the mining industry. And it certainly has not worked for the major gold mining companies.
Maurice Jackson: So what do you share with your subscribers? Are you more focused on juniors or mid-tiers?
Mickey Fulp: Always juniors. I don’t want to own miners, to tell you the truth. I’ve focused on exploration companies. I wrote a piece a couple of months ago called Why I Don’t Want to Own Any Miners. Now I do own a few miners, but they’ve become miners from exploration companies that I own or they’ve been taken out by miners exploration. But the real value in these businesses is in the juniors. And my particular sweet spot would be the advanced explorers because I think that’s where you have the lowest risks for the potential highest rates
Maurice Jackson: Mickey, if someone wants to get more information regarding your work, please share the contact details.
Mickey Fulp: MercenaryGeologist.com. I run a free subscription service as you well know, Maurice. And to get my stock picks you need to be a free email subscriber. We have a very active Twitter feed, @mercenarygeo, 55,546 Twitter followers as of today, and we’re quite active in that venue.
Maurice Jackson: And also, please visit our website which is ProvenandProbable.com. Mickey Fulp, the Mercenary Geologist, thank you for joining us today on Proven and Probable.
Mickey Fulp: Thank you, Maurice.
Maurice Jackson: Thank you for joining us today on Proven and Probable. Remember to like and subscribe for more conversations with the most respected names in the natural resource space. Check out our website at www.provenandprobable.com.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

Disclosure:
1) Statements and opinions expressed are the opinions of Mickey Fulp and Maurice Jackson and not of Streetwise Reports or its officers. They are wholly responsible for the validity of the statements. Streetwise Reports was not involved in the content preparation. Mickey Fulp and Maurice Jackson were not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article.
2) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
3) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
Proven and Probable LLC receives financial compensation from its sponsors. The compensation is used is to fund both sponsor-specific activities and general report activities, website, and general and administrative costs. Sponsor-specific activities may include aggregating content and publishing that content on the Proven and Probable website, creating and maintaining company landing pages, interviewing key management, posting a banner/billboard, and/or issuing press releases. The fees also cover the costs for Proven and Probable to publish sector-specific information on our site, and also to create content by interviewing experts in the sector. Monthly sponsorship fees range from $1,000 to $4,000 per month. Proven and Probable LLC does accept stock for payment of sponsorship fees. Sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.
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Exclusive Interviews Precious Metals

STEVE TODORUK | Get In Early With Discovery Plays

Post author By admin
Post date November 16, 2018

https://www.youtube.com/watch?v=xTDC3gTqMfE

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Investing in “discovery plays” may be a familiar concept for the seasoned natural resources investor. Within the junior mining exploration sector, the opportunity to invest in a discovery stock requires a fine balance of knowledge and the right timing, as well as experience. New discoveries face plenty of challenges so initial drill hole or surface trench results can be a key indicator as to the potential significance of a deposit.
Steve Todoruk is an investment executive as well as a geologist by training with Sprott Global. He has spent four decades in the mining industry gaining experience wearing different hats and has a track record of success identifying many of the significant discovery plays and getting his clients involved very early on around the time of their discovery announcement. Among Todoruk’s investments that have returned positive financial gains: Aurelian Resources, Virginia Gold, Hathor Explorations, Ventana Gold, Reservoir Minerals, Alpha Minerals, Kaminak Gold, Underworld Resources and Mariana Resources.
THE BIGGER THE REWARD FOR THE EARLY BIRD INVESTOR
Todoruk believes that the best time to invest in small exploration companies is when a new discovery announcement has been made. Considering that the discovery odds are stacked against the junior companies it is important for investors to be patient. Out of the one thousand-plus companies that hope to make a bona fide discovery, the mining industry might see three to five good discoveries in a given year.
If a junior company does manage to make a good discovery – then it is an opportune time for the investor to buy shares. Yet, Todoruk says the junior company still has a long way to go in its journey to success. It will have to continue drilling and grow its deposit which requires capital. This is a time-intensive process that usually takes two to three years of drilling. If the end result is positive, then a valuable asset has been created for the marketplace.
As with any asset, a junior mining company’s market capitalization will reflect the “constant revaluing and rerating” of the company. Toroduk says an investor can realize a significant financial reward if a big mining company takes over and acquires the junior miner acquiring their new deposit.
Even the best application of an investment strategy does not guarantee a positive outcome. Todoruk has witnessed his fair share of disappointments in the junior mining space including Colorado Resources after they drilled a potential discovery drill hole but follow-up drilling amounted to what is referred to as a “one hole wonder.” Geological knowledge about a discovery can help in determining whether it will be a success or not – but that is not always the case.
Todoruk also proffers that investing in the high-grade discoveries is not about banking on rising precious metals prices. He prefers to see metal grades that could be mined profitably at current metal prices and even better – at lower metal prices. If metal prices do rise from their current levels, Todoruk expects the key discovery plays to lead the charge in terms of share price.
Sprott Media’s Albert Lu sat down with Steve Todoruk to discuss the outlook for the juniors and how to spot a good discovery: click here.
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Base Metals Energy Exclusive Interviews Precious Metals Project Generators

EMX ROYALTY | $65 Million Cash Payment ! ! !

Post author By admin
Post date November 15, 2018

Dear Subscribers, enclosed we have two interviews with Eric Jensen of EMX Royalty Corp.

For More Information Contact:
Mr. Scott S. Close
10001 W. Titan Road
Littleton, CO, USA 80125
Email: sclose@emxroyalty.com
Phone: +1 (303) 973-8585

Blog Energy Exclusive Interviews

DNI METALS | Advancing Graphite Projects in Madagascar

Post author By admin
Post date November 13, 2018

Dan Weir, executive chairman of DNI Metals, speaks with Maurice Jackson of Proven and Probable about the personnel changes the company has made and its plans to obtain the environmental permits for the company’s graphite projects in Madagascar.

VIDEO

AUDIO

TRANSCRIPT

Maurice Jackson: Joining us for a conversation is Dan Weir, the executive chairman of DNI Metals Inc. (DNI:CSE; DMNKF:OTC), which is establishing itself to become one of the world’s leading graphite producers.
Dan, glad to have you back on the show. Before we delve into today’s interview, for first time listeners, who is DNI Metals and what is the thesis you’re attempting to prove?
Dan Weir: DNI is a public company, listed in Toronto and the U.S. on the OTCQB. We are developing graphite projects in Madagascar, and we’re very excited to be involved in the graphite industry because, as you know, and I think a lot of your listeners will know that the demand picture for the future of graphite looks very good. If you just take a Tesla and look at the batteries that go into a Tesla, in every Tesla car there’s going to be somewhere between 100 and 200 kilograms of graphite. Multiply that by how many thousands and millions of electric cars that we’re going to have, let alone the batteries in your cellphones and the batteries in our computers. The demand in the world is going to be huge. So we’re very excited about the future and the future for graphite.
Maurice Jackson: Dan, you referenced DNI’s projects are located in Madagascar. I understand that elections are coming up soon. I have a multilayered question, should the current administration remain in place, what type of impact will that have on DNI and what if a new administration takes place, what type of impact could this have on DNI?
Dan Weir: Well, I’m going to take you through how the elections work here in Madagascar. There’s a presidential election that happens every four to five years. I think it’s mandated that it has to happen every five years. In order to become president, you have to have 50% of the votes. Now, the first round of the elections took place on November 7, so just a couple days ago. There were 36 people running for the president, including four of the people running were ex-presidents of the country. So the incumbent is one of the four.
We had the election on the 7th. And it takes approximately 20 days to do all the counting of the votes. Therefore, we won’t know the outcome for approximately three weeks. Legally, all voting has be recorded and published within the next 21 days. So by November 28, legally they have to announce all the different figures or the numbers or percentages that all the different candidates received.
Then what happens is if no candidate gets over 50%, they have a next round of elections. The two top candidates from the first round will compete in a second round. So the second round will happen on December 19 should this situation come to fruition. Again, then you’re going to have probably another 20 days before you get the results. So you’re really looking into mid-January by the time they announce who the president is and who wins the election.
Now, in the government they have a president, then they have a prime minister, then they have different ministers for different areas, minister of mines, minister of the environment, etc. The president doesn’t actually pick the prime minister, but what he does is he goes to parliament and gives them about four or five different names of who he would like to be the prime minister. So he doesn’t technically put the prime minister in place, but he’s the one that provides the names to parliament and then parliament picks who that prime minister is. But the president does pick who all the different ministers are.
So until mid-January, the current prime minister and all the current ministers stay in place and it’s business as usual until mid-January. Does that answer all your questions that you had on that topic, Maurice?
Maurice Jackson: It certainly does. Let’s switch gears here. Since our last interview, there have been a number of personnel changes at DNI Metals. As a shareholder, how concerned should I be, and equally important, why were these changes made?
Dan Weir: So I want to be careful what I say here. You can refer to our press releases that we’ve put out over the last couple weeks. We have decided to make changes here. I think I’m going to make it as polite as I can, Maurice. We have decided to make changes here in Madagascar. The team that we had in place we felt was not doing their jobs properly. So we terminated their contracts. Every single one of them was a contractor to the company. We terminated their contracts and we have brought new people in. I have decided to spend more time in Madagascar and take over as the country manager here in Madagascar to make sure that things are moving forward in the right direction.
As we stated in our previous press releases that we had been promised from our previous team the environmental permits would be done in January of 2018. We’re now in November of 2018. This was not fair to our shareholders, and therefore, we needed to make changes. I am here now taking control of that process and taking control of all the personnel here in Madagascar. I will be spending a lot of time in Madagascar to make sure that everything goes through and goes through smoothly here in Madagascar.
So new team will be myself, we will have a bookkeeper/accountant here in Madagascar as well, and I decided to bring in a lawyer on a contract basis, basically she will work part-time for us here in the company. I brought in a government relations person, again a contractor that will work part-time. And I brought in a community relations person, a CSR expert. He is also a chemical engineer. He will look after all of the local people and probably in the new year, I’ll probably bring him on more as a full-time person. As we get our environmental permits and we’re building our pilot plant initially and then the full on commercial plant, we’ll need somebody like him when you’re dealing with all the locals and all the relationships within the locals; and, again, him being a process engineer, chemical engineer, he’s a great person that can talk to all the locals and help us put processes in place to deal with the locals and deal with all our workers.
Maurice Jackson: You’ve also had some changes on the board. Can you speak to that?
Dan Weir: Yes. On our boards, we had five people. Myself, John Carter, who is an engineer. He’s built multiple processes plants. I think somewhere around 300 different mining processes plants around the world, including four graphite processing plants. We have Keith Minty. He’s a mine engineer. He’s operated graphite mines in Ontario and in Sri Lanka. He has worked all around the world, including Madagascar at one point and time. So these are great guys to have on the board. The other two people that we had on the board were two accountants, Paul Hart and Brian Howlett. They have decided to step down.
As we are moving closer and closer to getting the pilot plant built and commercial production, we will bring in people that have more expertise in graphite sales as well as have technical expertise in building graphite mines. The other people that we might consider for the board as we move forward would maybe be some of the big shareholders who have had a lot of expertise in developing companies and building companies. So we’ll look at that. That will be in the new year. Right now the main focus is making sure that we get all of our environmental licenses and that we’re moving forward.
Maurice Jackson: Before we get to the environmental licenses, talk to us about some good news that you have for U.S. investors.
Dan Weir: We decided to upgrade our listing in the United States on the OTC. We’re going to move it up to a QB listing in the United States. What that does is I’ve had complaints from different people in the U.S. and from around the world where a lot of the discount brokers found it difficult to trade on the CSE, one of the stock exchanges in Canada. So we are getting an upgraded listing in the United States, and we had been fully approved for that listing; that should happen over the next couple months. We will also get what we call DTC settlements set up where it, again, makes it easier for discount brokers in settling the trades in the back office. DTC basically is an electronic transfer system. Again, just makes it much easier for trading and settling of your trades.
Maurice Jackson: All right. The multi-million dollar question everyone wants to know about. What is the next unanswered question for DNI Metals? When should we expect results, and what determines success?
Dan Weir: So results, if you’re referring to getting the environmental licenses and moving the project forward, again, that’s been our biggest delay over the last year is getting these environmental licenses. I’ve been promising and promising and promising that they’re coming, they’re coming. It’ll happen soon. Most of that was from our team here in Madagascar that kept promising me that it was going to happen tomorrow, tomorrow, tomorrow. A number of documents and stuff that they gave us to show that it was going to happen tomorrow and tomorrow and tomorrow ended up not being really truthful documents or proper documents. I’m rectifying all that. I’ve taken charge here.
We have found out, and you can refer to one of our press releases that some of our documents had not even been filed, even though we had been told that they had been filed. For the Vohitsara property, some of the documents been filed, they had not been filed properly. When you’re working here and you’re filing environmental permits, this is the document. It’s about 500 pages long that you file for an environmental license in Madagascar. This had not been filed for the Marofody property. You file that and you also file a document that looks like this, which is called the Cahier des Charges. The Cahier des Charges is about 88 pages. It’s stamped by the director general of the mines ministry. This document had not been filed either for Marofody. So we’ve gotten the copies. We will be filing those with the ONE. Again, the ONE is the ministry of the environment and be moving this project forward.
So, as we said in the press release that I put out in the last couple days here, once you have filed the documents with the ONE, it’s a 60-day process that they must evaluate and grant you the environmental license within those 60 days. They also have a requirement where they need to go to the property twice. We will take them to both Vohitsara and Marofody properties at the same time. As part of that, I’ve requested and I have a meeting next week with the ONE again to try to speed this up. I will be requesting if we can we do those visits within the 60 day-process. I think that my initial meeting with them, they indicated that that was possible, and hopefully I can confirm that up next week.
So when is the exact timing? I can only give you what the laws state in Madagascar, which I have put in the most recent press release. People, again, have been concerned about the elections. If we can work within this 60 day window here, we will have this all completed while the current ministers are still in place. So we should be able to get all the documents completed and get our environmental licenses within those days. Again, that’s kind of a worst case scenario. The ONE knows that there were some people that have not really done their jobs properly here in Madagascar, and that they will work with us to speed up this process as fast as they can, which is fantastic.
Maurice Jackson: It truly is exciting to hear that. Last question for you, what did I forget to ask?
Dan Weir: I’m not sure. I know the two biggest questions for people out there have been: How do the elections effect DNI, and what the heck is going on with the permits? So hopefully we have addressed those today, and with some of the press releases that I have put out recently, I will try to get the market as much as I can update information as we move forward, and I look forward to finally getting the permits and actually getting this thing, the pilot plant, built and get into production. I’ve been trying to do this for a long time, but I’m finally excited that now I am taking control, I will remain in control of this process, and we know exactly what has to be done to complete this process, and I’m pushing forward to make sure that that happens.
Maurice Jackson: Mr. Weir, for someone listening and that wants to get more information on DNI Metals, please share the contact details.
Dan Weir: Best thing to do right now because I’m going to be in Madagascar quite a bit. It gets very expensive to call me on the phone. I’d prefer if you can email me at [email protected]. I will respond to that. It’s about an eight hour time difference between Madagascar and New York or Toronto. So please bear with me, if you don’t hear from me for a couple days, I will get back to you.
Maurice Jackson: And please share the website address.
Dan Weir: The website is www.DNIMetals.com.
Maurice Jackson: And as a reminder, DNI Metals trades on the CSE, symbol DNI, and on the OTC QB, symbol DMNKF. DNI Metals is a sponsor of Proven and Probable, and we are proud shareholders for the virtues conveyed in today’s interview.
And last but not least, please visit our website www.provenandprobable.com where we interview the most respected names in the natural resource space. You may reach us at [email protected].
Dan Weir of DNI Metals, thank you for joining us today on Proven and Probable.
Dan Weir: Thank you, Maurice, and bye to everybody from Madagascar.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

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DNI Metals Inc.

Disclosure:
1) Dan Weir: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: DNI Metals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: DNI Metals.
2) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: DNI Metals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: DNI Metals is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below.
3) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: DNI Metals. Click here for important disclosures about sponsor fees.
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Using the ‘Big Think’ to Find Zinc in Ireland
Source: Maurice Jackson for Streetwise Reports (11/12/2018)

Bart Jaworski, CEO of Group Eleven Resources, talks with Maurice Jackson of Proven and Probable about his company’s exploration efforts in Ireland.

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Base Metals Exclusive Interviews

GROUP ELEVEN RESOURCES | Using the ‘Big Think’ to Find Zinc in Ireland

Post author By admin
Post date November 12, 2018

Bart Jaworski, Director and CEO of Group Eleven Resources sits down with Maurice Jackson of Proven and Probable to discuss his companies exploration for zinc in Ireland. Listeners will be introduced to the unique value proposition Group Eleven Resources of the largest land position of any explorer or miner in Ireland. All together encompassing approximately 3,200 sq km, or 320,000 hectares or nearly 800,000 acres, which hosts 2 flagship projects the Stonewall and the Ballinalack respectively.

VIDEO:

AUDIO:

TRANSCRIPT:

Original Source: https://www.theaureport.com/article/2018/11/12/using-the-big-think-to-find-zinc-in-ireland.html

Source: Maurice Jackson for Streetwise Reports (11/12/18)

Bart Jaworski, CEO of Group Eleven Resources, talks with Maurice Jackson of Proven and Probable about his company’s exploration efforts in Ireland.

Maurice Jackson: Joining us today is Bart Jaworski, the CEO and director of Group Eleven Resources Corp. (ZNG:TSX.V; GRLVF:OTCQB), which is known for advanced stage zinc exploration in Ireland.
Mr. Jaworski, for someone new to the story, who is Group Eleven Resources and what is the thesis you are attempting to prove?

Bart Jaworski: Well, our overall thesis is that by Group Eleven Resources having the largest land position in the richest country for zinc in the world, that being Ireland, we have a very substantiated vision, and that vision is to discover the next big zinc deposit in the country.
We already have the second and third largest undeveloped zinc occurrence in the country, that being the Stonepark current resource and the Ballinalack historical estimate, and those are second only to Glencore’s very substantial Pallas Green deposit, which is one of the largest undeveloped zinc deposits in the world.
People-wise, of course, you need people with the right mind-set and experience to drive towards this goal of discovery. And we certainly have that part covered with MAG Silver as a strategic backer and people like Peter Megaw and Dan MacInnis involved, as well as,] very experienced Irish geologists like John Barry, David Furlong and Dr. Mark Holdstock, who have spent most of their careers exploring for zinc in this country.
Maurice Jackson: Before we discuss the unique value proposition of Group Eleven Resources, I would like to begin our discussion today at the 10,000-foot level regarding zinc, it’s a metal that is not on a lot of radars. What can you tell us about the zinc supply and demand fundamentals?

Source: TradingEconomics.com (US$/tonne)

Source: Scotiabank (The Daily Mining Scoop)
Bart Jaworski: Zinc demand is roughly 14 Mt/year, so that’s about US$40 billion/year turnover (at current prices). Zinc is the fourth most consumed metal, after iron, aluminum and copper. The price of zinc was on fire in 2016 and 2017—roughly doubling from 70c/lb to $1.60/lb; then in 2018, the price took a bit of a breather, falling to about $1.00/lb in September and now starting to rise again towards the $1.20/lb level.
Zinc is primarily used for galvanizing steel, which means making steel rust proof and that then feeds the construction and automotive sectors. Zinc is also an essential nutrient for embryonic growth and normal metabolic processes inside the human body.
So that’s a bit about the demand side. On the supply side this is where things get interesting. A number of mines around the world have been shutting down because they’ve run out of ore or because they are no longer economic to run because, for example, they’ve been starved of capitalized for too long, etc. Lisheen, Galmoy and Century are a few examples of large mines that have been depleted over the last few years.
This has led to a shortage in mine supply, which in turn has led to diminishing global inventories—which are now down to levels we haven’t seen since 2007/2008 and remember, back then, prices reached as high as $2.08/lb. So the question becomes why are prices relatively muted now, despite these multi-year inventory lows? Well, I think the key issues are the trade war rhetoric, Chinese slow down fears and of course, the threat of a supply response.
Now obviously, no one has a crystal ball, but I suspect trade war talks will conclude constructively or at least I hope so. The Chinese economy, I suspect, still has a number of very large buffers at its disposal and one has to wonder if the trade talks with the U.S. do indeed falter the Chinese government could notionally just double-down on internal infrastructure growth again bolstering its Belt and Road initiative even further, for example.
On the supply response, as a former mining analyst, I definitely learned over the years that slippage on getting new mines up and running happens more often than not. So you always want to take a haircut to guidance on start-ups. Then there is the question of Chinese supply, which accounts for about half of world’s mine supply. Historically it has been the case that whenever zinc price went up, Chinese supply would go up as well, leading to a moderation of zinc prices.
This hasn’t been the case so far this cycle. The reason is that China has imposed a number of strict environmental regulations on industry, including mining, over the last year or two. The effect has been that a lot of small “mom and pop” zinc mines in China have been shut down and that has suppressed the supply response from China in a big way.
So, that’s the crux of the market.
There is one other key bright spot that I believe is starting to show great promise and that is the evolution of zinc batteries. I think this could be a potential game-changer for the industry. The background here is that zinc was always an ideal metal for batteries since Edison’s time 100 years ago; however, the problem has always been “rechargeability,” you couldn’t recharge a zinc battery without needles growing inside the cell and quickly bursting the battery.
A few years ago a scientific breakthrough by the U.S. Naval Research Laboratory changed all that and this was written up in the prestigious Science magazine in April 2017; by the way, I recommend people take a look. With the advent of 3D lattice technology, electric charges can now be dissipated homogeneously enough to prevent needle growth and whamo! Zinc now has the potential to compete and offset the likes of Li-ion batteries. That’s pretty exciting.
Now there are small zinc batteries for cars and small equipment, etc., which I don’t think will have much impact on zinc demand. Then there are the large zinc batteries aimed for grid power storage and here is where we could definitely move the needle significantly on annual zinc demand.
A great example of these large zinc batteries is NantEnergy, which is run by a California-based billionaire named Patrick Soon Shiong. He’s developed a Zinc-Air battery, which run on photons, zinc and air; and he’s demonstrated he can successfully run dozens of cell phone towers and villages completely off the grid in Africa and other regions. There is a great video on Bloomberg interviewing Mr. Soon Shiong on this technology, plus the New York Times has recently written it up as well.

Source: NantEnergy
Maurice Jackson: Group Eleven Resources projects are strategically located in Ireland, provide us with some historical context on the relationship between zinc and Ireland.

Bart Jaworski: Ireland is estimated to be No 1 in terms of zinc found per square km, so it’s a very prospective country. It also hosts some of the world’s largest zinc deposits (e.g., Boliden’s Navan mine and Glencore’s Pallas Green deposit). It’s infrastructure-rich and has year-round tidewater for shipping. The product is clean and you’re close to consumer. Irish zinc concentrates tend to be very good quality. European smelters are around the corner in Norway, Sweden, Belgium, etc.
Politically Ireland is a safe, first world jurisdiction with security of tenure and rule of law. And lastly, the Fraser Institute, which is the only think tank that ranks the world’s mining jurisdictions, ranks Ireland No 1 in terms of Policy Perception Index for five years running. So Ireland has all the ingredients you’d want.
One key aspect to add is that over the last 70 years of mining history in Ireland, a general rule of thumb of what it takes to break-even economically in Ireland is what is known as “10 and 10” or 10 Mt at 10% Zinc+Pb combined. That reflects the infrastructure and tidewater (so in more remote part of the world were you need to truck in your diesel and truck out your concentrates; you may need 50–100 Mt to break-even. In Ireland you typically need much less, which is very comforting to know).

Source: Boliden (location of zinc smelters in green)
Maurice Jackson: Bart, now that we know the virtues of exploring for zinc in Ireland, how much of a land position does Group Eleven Resources have in Ireland?
Bart Jaworski: We have the largest land position of any explorer or miner in Ireland. All together we hold approximately 3,200 sq km, or 320,000 hectares or nearly 800,000 acres. This gives us the dominant position over two geological basins, which gives us the ability to think big and think outside the box, and this greatly aides our exploration approach.

Source: Group Eleven (G11 licenses in orange)
Maurice Jackson: You mention approach, is there anything different that you are doing that others are not?
Bart Jaworski: Well, yes, absolutely! Our “Big Think” approach is what really makes us different. Essentially, we are tearing up the old geology textbooks and putting them back together again using a very open minded and thorough approach to exploration by systematically conducting detailed data compilation. Mining data in Ireland goes back all the way to the 1200s and beyond and we are coupling that with cutting edge exploration techniques such as seismic surveys, airborne geophysics, ionic leach soil sampling, etc.
Now, not just anybody can have the “Big Think.” You can’t have the “Big Think” without the ground position, right? Because if you come up with a great idea, it’s likely on someone else’s ground and you can’t do anything about it. You also can’t do the “Big Think” without the right people—big picture thinkers—and that’s again where the likes of Peter Megaw and Dan MacInnis, both from MAG Silver, come in, as well as deep Irish bench-strength with the likes of Dr. Mark Holdstock, John Barry and David Furlong.
Maurice Jackson: A virtue of having the largest ground position in Ireland is that Group Eleven has two flagship projects. Let’s delve into them shall we. Mr. Jaworski, introduce us to your first flagship project, the Stonepark and the unique value propositions it presents.

Note: Red and Black outlines are G11. Blue outline is Glencore

Note: This map is a zoom-in on the Pallas Green/Stonepark area; shows the Carrickittle and Limerick South prospects, which may be a quasi-mirror image to the small red blobs to the north of Pallas Green
Bart Jaworski: Well, at Stonepark we are very excited because we are right next door to Glencore’s Pallas Green deposit, and we think we might have at least some of the key mineralizing faults from that deposit trending onto our ground. Our ground, by the way, covers nearly the entire prospective geology in this area, outside of Glencore’s ground. We have by far the largest land position in this region much bigger than Glencore’s area and we cover about 1200 sq km or 300,000 acres.
We also already have a maiden resource 43-101 compliant in the Inferred Category on our ground totaling 5mt @ 11% Zinc+Pb (Stonepark deposit). That is located only about 1km away (very close) from Glencore’s Pallas Green deposit, which hosts about 44mt @ 8% Zinc+Pb.
Our deposit is about 200–400m deep. whereas Glencore’s Pallas Green is 300–1300m deep, with its new discovery called Caherline about 10mt @ 10% Zinc+Pb at the deepest part of that range (i.e., towards 1300m). We know Glencore has been actively drilling at Pallas Green since early 2017. So from the above you can see that our Stonepark deposit is much shallower and about 30–40% higher grade.
That’s a good starting point.
But the key is this! This is an emerging camp. The discoveries here at Pallas and Stonepark are relatively new and yet this is already the most metal-endowed region within all of Ireland, outside of Boliden’s Navan deposit. And yet the main mineralization structures (or faults) have not yet been found. It’s a complete mystery.
Usually in Ireland, the zinc occurs butted up against a fault. But in this camp the main structure appears to be further away, suggesting that what has been discovered to date is actually the periphery of the system. Thus, the heart may be lurking somewhere underneath, in what we call the Limerick volcanics.
So the question becomes how do we find the center of the system? And this is where our preliminary drilling and the Tellus survey come in. We announced last week the start of a preliminary 1500–2000m drill program, which will be primarily aimed at answering the big geological questions on the architecture of this camp. If we hit some mineralization too, that’s great, but the primary aim is geological.
We’re going to couple this data with a large ongoing airborne survey that is currently being flown by the Irish Geological Survey. It’s called Tellus and it comprises flying 2,500 sq km or 620,000 acres or so, covering our ground, Glencore’s ground and our nearby Silvermines ground and using three state-of-the-art detection methods all together, which are radiometrics, magnetics and electro-magnetics.
This information will be publicly available early next year and will hopefully tell us where the major faults are and how they line up with the known mineralization in this camp. Now we already have our suspicions on where this key fault corridor might be—one clue is that the main Pallas Green body seems to trend in a NW orientation; this is from an academic paper that was published in 2015.
If you continue that trend towards the south you line up perfectly with our Carrickittle and our Limerick South prospects. At Carrickittle, for example, there are about a half dozen historical holes that intersected about 5m @ 12% Zinc+Pb and they have been largely forgotten about since the late 1960s.
However, now that we know about Pallas Green and Stonepark, these 1960s prospects are starting to look at lot like the small satellites you see just outside the Pallas Green deposit to the north, which poses an interesting question: Do we have a “quasi-mirror image” down to the south?
So this is one of key ideas we are working on and that is what we’ll be working on as part of the “Big Drill of 2019.”
Maurice Jackson: Let’s move north now and discuss your second flagship project, Ballinalack. What has the company excited there?

Note: above shows regional cross-section across Ireland, demonstrating that the zinc (red) occurs in two prospective horizons (blue and yellow) at Ballinalack. We have BOTH of these horizons (This is unique, given if you move north, you lose the blue layer; if you move south, you lose the yellow layer.)
Bart Jaworski: At our second flagship project, Ballinalack, we also have an exciting idea that we will be testing as part of the Big Drill of 2019. It is located about 50km away from Boliden’s giant Navan zinc mine, which has approximately 100 Mt @ 10% Zinc+Pb; it’s mostly mined out now, but still operating. It’s the biggest mine in Europe and considered one of the top five zinc deposits in the world.
Ballinalack is unique as it’s still close enough to Navan to have well-developed Navan Beds on the property in addition to the other prospective horizon called the Waulsortian limestone. In fact, Ballinalack is the only known zinc occurrence in Ireland that has significant mineralization in both horizons.
Interestingly, in the 1970s, when Ballinalack was discovered, the old-timers only drilled down to about 300m to define the historical estimate, which by the way totals 7.7 Mt @ 7.3% Zinc+Pb, which is not too far off from our 10 and 10 rule of thumb.
So drilling beyond 300m was considered “very deep” at that time. Now, of course, mining reaches much deeper, for example, at Boliden and Pallas Green, drilling is going down well beyond 1000m or 3300 feet. Our big idea at Ballinalack is that the Navan Beds directly underneath the historical estimate have not yet been tested for Navan-style mineralization.
Case in point, of the 30 holes historically drilled deep enough to actually intersect the Navan Beds in the vicinity of the old estimate, a surprisingly high number, about half of the holes, hit significant mineralization. And directly underneath the historical estimate the area is virtually undrilled.
So our preliminary drilling of two holes earlier this year was also primarily aimed at geology, and we successfully identified (1) that cross-faults exist and they seem to have a lot more to do with mineralization than ever recognized before, and (2) that the Ballinalack fault is much steeper than previously thought, which shows definitively how previous drilling was missing the target.
By the way, Group Eleven Resources intersected 10m @ 10% Zinc+Pb in an area of known mineralization, which is also comforting, plus a zone of mineralization in the Navan Beds.

Note: The orange zone (4a-4e) is our hanging-wall Navan Bed target (which has been virtually undrilled) and targets 1, 2 and 3 are our footwall Navan Bed targets where historical drilling has yielded significant mineralization worthy of follow up (all the red dots are the historical holes, which were drilled deep enough to intersect Navan Beds, and half of them hit. ‘n/a’ means not assayed for silver.
Maurice Jackson: What are your plans going forward at Ballinalack?
Bart Jaworski: We will be relogging and in some cases re-assaying some of the historical core with the aim of sharpening our understanding of the architecture of this area even further, and we will then do more drilling in 2019 as part of the Big Drill.
Maurice Jackson:
Are these brownfields explorations that the company is undertaking?
Bart Jaworski: If “brownfield” means an area that was previously mined, then the answer is no. However, I think in this case, you are referring to the notion that in these areas we have seen significant heavy lifting already done on the exploration side by previous operators, than definitely yes.
Maurice Jackson:
For someone new to the term brownfields, please share how that improves the probability of discovery.
Bart Jaworski: Well, with the heavy lifting already done for us, this puts us in great position to allow us to get up the learning curve much quicker than if we had to drill all those initial holes ourselves. So we’re walking on the shoulder of a giant amount of historical work, and if you infuse that with cutting edge technology and truly open minded thinking—that’s where the magic happens.
Maurice Jackson: For current and prospective shareholders, the story doesn’t end with zinc. You have recently discovered some silver at the Ballinalack. How was “Big Think” responsible for the discovery and share the results with us.

Note: Drill core from G11 recent drill hole (G11-1344-02) at Ballinalack
Bart Jaworski: Correct, at Ballinalack only some of the historical intervals were ever assayed for silver and those that were often had good silver numbers in them, say between 20–100 g/t, and our highest was about 380 g/t. So we know there is silver in the system, but that was never calculated historically.
I see that as a potential sweetener to the story, which has yet not been borne out. Also at Stonepark and the broader Limerick basin, we have the idea that because you have a lot of volcanics intruding limestones, you might expect to see some overlooked deposit types, which can host a much higher precious metal component, for example, CRD deposit types that you see in Mexico.
That is I believe what captured the imagination of Peter Megaw. I think all that I’ve mentioned above speaks to the open-minded approach that we have and hence the “Big Think.”
Maurice Jackson: What is management’s philosophy, are you looking to build mines or are you focused on exploration?
Bart Jaworski: Similar to most juniors, our exit strategy is to make a large discovery and then sell it to the highest bidder. We are not interested in becoming miners.
Maurice Jackson: Switching gears, I’ve learned from some of the most serially successful in industry—from Rick Rule, Doug Casey, Jayant Bhandari, Mickey Fulp and Bob Moriarty—that the people running the business are equally if not more important that the latent material in the ground. Mr. Jaworski, please introduce us to your board of directors and management team and the unique skill sets they bring to the Group Eleven Resources.

Bart Jaworski: We have four on the board currently.
Dan MacInnis is our chairman. (a) He is the retired CEO of MAG Silver (and currently sits on the MAG board) (b) Dan has over 40 years of experience and has been involved with seven discoveries during his career including Duck Pond and Juanicipio (c) Interestingly, Dan worked in Ireland for five years back in the late 1970s/early 1980s with Noranda, so he definitely knows the lay of the land in Ireland.
Alessandro Bitelli is our chair of the Audit Committee. He is currently the CFO of Lundin Gold, and interestingly was the CFO of RedBack when it was taken over for $10 billion by Kinross back in 2010.
Brendan Cahill is a lawyer and all round very sharp guy. He’s the CEO of Excellon Resources, which is mining the Platosa silver deposit in Mexico.
On the management side:
We have John Barry and David Furlong, who I’ve mentioned earlier in our discussion. Both are Irish geologists. ex-Rathdowney Resources (which is another European zinc development company). John was the founder and CEO of Rathdowney. So both John and David have deep experience with Irish-style zinc deposits and with operating in Ireland.
Dr. Mark Holdstock is a very well-known geologist in Ireland. He recently joined us (in early 2018). He led the team that discovered the 20-Mt SWEX extension of the Navan orebody.
So John, David, Mark and myself, we’re a home team. All of us live in the country we’re operating in and that’s different from many juniors and a big plus because we have our ear close to the rail.
And now onto the advisers:
Peter Megaw is the brainchild behind MAG Silver’s success in Mexico with the Juanicipio discovery. Peter is the chief exploration officer at MAG. and he’s a big help on our “Big Think” initiative.
We also have John Prochnau and Frank Hallam as advisers. John Prochnau is on Doug Casey’s Exploration Hall of Fame actually for his Esquel and Alligator Ridge discoveries. John also worked on our Ballinalack project back in the 1970s.
Frank Hallam has a lot of experience in M&A with the majors and has been involved with over a $1 billion in financings over his career. Last but far from least are Shaun Heinrichs, our CFO, and Spiros Cacos, our VP Investor Relations.
Maurice Jackson: Tell us about Bart Jaworski; what makes him qualified for the task at hand?
Bart Jaworski: I’m an exploration geologist and ex-mining equity analyst. I have about 24 years of experience since 1994, my first year in the field. I was an analyst for about 12 years. Initially, I began with Raymond James in Vancouver for about nine years and then for over three years with Davy in Ireland. I’ve been on a lot of site visits and met with a lot of CEOs and VP Ex’s over that time frame. I also covered many exploration and mining companies over the years.
The reason I ended up in Ireland is because my wife, who is Irish, wanted to move back home after being in Canada with me for nine years. And that’s how I ended up at Davy in Dublin covering the UK listed golds, plus Rio Tinto and the iron ore sector. As an exploration geo I discovered the original soil anomaly at Coffee Creek, which later became a multi-million ounce gold deposit (which was taken out for $0.5 billion when Goldcorp took over Kaminak). Going back a little further, I also helped discover industrial minerals in the Iskut area.
Maurice Jackson: Tell us about your capital structure.

Bart Jaworski: We have just under 60 million shares outstanding. So at our current share price (14c) our market cap is only CA$8.4 million or about US$6 million. About 20 million warrants and options outstanding: more than half of those are set to expire this December. Cash: our last Quarterly Financials have $3.2 million in the till. We have no debt.
Maurice Jackson: Let’s discuss some numbers: What is your burn rate?
Bart Jaworski: Burn is about $100k–$130k/month, so call it roughly $1.5 million per annum. So our runway is still fairly comfortable, at least another 12 to 15 months doing what we need to do, depending on how hard we step on the gas pedal.
Maurice Jackson: Do you have institutional Investors at this point?
Bart Jaworski: Yes, we’ve been lucky enough to garner the support of about a dozen institutions, mostly during the IPO, but some pre-IPO and some post-IPO. Most well-known institutions include Sprott, US Global, Galileo and Logiq.
Maurice Jackson: What is the float?
Bart Jaworski: About half our 60 million shares are owned by high-net worth investors, which is about 30 million shares. The rest is owned by MAG, Teck, the funds and insiders.
Maurice Jackson: Are there change of control fees? If yes, please convey the terms.
Bart Jaworski: There are no change-of-control fees for M&A transactions but there are fees associated with management being fired by the board without cause, which is fairly standard.
Maurice Jackson: When is the last time you purchased shares and at what price?
Bart Jaworski: I actually bought shares last just after our last press release last week at a price of 13c and 12.5c. I believe at least one other insider bought shares on the heels of last weeks’ press release as well.
Maurice Jackson: Any redundant assets such as patented mining claims and or reversionary interests, meaning are Group Eleven Projects 100% owned by Group Eleven Resources?
Bart Jaworski: We don’t have any patented mining claims in Ireland. We own all our licenses 100% except at Ballinalack where we have 60% interest with the remainder owned by a large Chinese zinc producer called Nonfemet. At Stonepark, where we own roughly 77% and the remainder owned by a small Irish exploreco. Important to note, these joint venture interests are participating, i.e., they have to pay their share of exploration costs or they get diluted down.
Maurice Jackson: All right, sir, you’ve survived the storm. Mr. Jaworski, multilayered question, what is the unanswered question for Group Eleven Resources, when should we expect results, and what will determine success?

Source: G11, October 2018 (L to R: David Furlong, John Barry, Bob Moriarty and Bart Jaworski)
Bart Jaworski: Results, we are currently doing a “preliminary drilling” campaign (1500–2000m) and we should have results from that over the coming weeks and months. The results of the Tellus survey will also be forthcoming early next year and that will tell us a lot. We will then couple the two datasets, i.e., the drill data and the airborne data and that should lead to very high-priority drill targets, which will be part of our Big Drill in 2019. A few months ago we put out a maiden resource at Stonepark measured 5mt @ 11% Zinc+Pb combined. We are working on updating the Ballinalack historical estimate, but we are not sure yet if we can upgrade to a current estimate without re-drilling, but we are looking into it so that something else to be aware of.
MAURICE JACKSON: What keeps you up at night that we don’t know about?
BART JAWORSKI: Well, I’m an optimist, as long as people keep remembering the lessons of Adam Smith and the Wealth of Nations. I think we’ll be ok and the world economy will keep on growing and with it, so will the prosperity of humanity. Other than that I try not to sweat the small stuff.
Regarding Group Eleven, obviously exploration is a risky and cyclical business, so one needs to be aware and cognizant of that. However, with high-risk comes high-rewards, and that’s really what I’m focusing on as a shareholder myself.
Maurice Jackson: Finally, what did I forget to ask?
Bart Jaworski: I guess one important element of the Irish exploration landscape is the support from the government, specifically iCRAG, which stands for the Irish Centre for Research in Applied Geosciences. This is a government-industry-academia partnership that is well-funded and has a number of very smart people working on a number of fronts. One of the main remits of iCRAG is to help companies like Group Eleven find the next zinc mine in Ireland.
So, interestingly, the individual who recently stepped into the role of CEO and Director at iCRAG is a gentleman by the name of Dr. Murray Hitzman. Dr. Hitzman was once at the White House shaping Science and Technology policy, as well as, the head of the Colorado School of Mines and more recently at the U.S. Geological Survey. He is one of the leading experts on Irish-style zinc deposits and has written many academic papers on the subject. When Murray was announced as the Head of iCRAG, I personally thought this was a major signal by the Irish government and a catalyst, really, for future discoveries in Ireland.
Maurice Jackson: For someone listening that wants to get more information on Group Eleven Resources the website is here. And as a reminder, Group Eleven Resources trades on the TSX-V: ZINCG and on the OTCQB: GRLVF.For direct inquiries please contact Spiros Cacos at 604 630 8839 Ext. 503 and he may also be reached at s.cacos@groupelevenresources.com.
And last but not least please visit our website provenandprobable.com, where we interview the most respected names in the natural resources space. You may reach at contact@provenandprobable.com.
Bart Jaworski of Group Eleven Resources, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

Disclosure:
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. Proven and Probable disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: MAG Silver. Click here for important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
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Base Metals Exclusive Interviews Precious Metals

GROUP TEN METALS | On the Search for Platinum Group Metals in Montana

Post author By admin
Post date November 2, 2018

Michael Rowley, president and CEO of Group Ten Metals sits down with Maurice Jackson of Proven and Probable to discuss his companies exploration for platinum, palladium, nickel, copper and cobalt in the Stillwater area of Montana. This is part 2 of a 3 part series introduction into the value proposition of the Metallic Group of Companies. Important Note: Enclosed is a Financing Opportunity of Accredited Investors.

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TRANSCRIPT

Original Source: https://www.streetwisereports.com/article/2018/11/02/on-the-search-for-platinum-group-metals-in-montana.html
Maurice Jackson: Welcome to Proven & Probable. I’m your host, Maurice Jackson. Joining us today is Michael Rowley, president and CEO of Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB), which is known for platinum, palladium, nickel, copper and cobalt in the Stillwater district in Montana.
This interview is the second of a three-part series introducing the value proposition for the Metallic Group of Companies comprising Metallic Minerals, Group Ten Metals and Granite Creek Copper. These are three separate leading exploration companies, each with a different metal of focus, but with a common approach to business under the proven management of the Metallic Group.

Earlier we interviewed Greg Johnson to talk about Metallic Minerals and its exciting high-grade silver projects in the Yukon. Today we turn our focus to a second company in the Metallic Group, Group Ten Metals, a leading explorer for platinum, palladium, nickel, copper and cobalt in the world-famous Stillwater district in Montana.
Mr. Rowley, for someone new to the story who is Group Ten Metals, what is your flagship project, and what is the thesis you are attempting to prove?
Michael Rowley: Group Ten is a leading explorer for platinum group metals—these include platinum, palladium and rhodium, along with nickel, copper and cobalt.

Our flagship project is the Stillwater West project where we have consolidated a very large land position alongside Sibanye-Stillwater’s three producing mines in the heart of the Stillwater Igneous Complex in Montana. It’s one of the world’s premier platinum and palladium producers and is one of the only platinum group metal producing mines outside of South Africa or Russia.
Geologically, Stillwater is a large, layered, mineral-rich magmatic system, very similar to the Bushveld complex in South Africa, which hosts over 75% of the world’s platinum, as well as enormous quantities of copper, nickel, gold and other metals.
We see the potential for large-scale disseminated and high-sulphide PGE-nickel-copper type deposits similar to the multi-100-million-ounce deposits in the Platreef district of the northern limb of the Bushveld Complex, and we are the first to apply the new geological models from the Platreef district to the Stillwater district, despite these well-known similarities.
In addition to bringing the land position together with a wealth of data, we have also assembled a truly world-class team, to which we recently added one of the most celebrated Platreef geologists, Dr. David Broughton of Ivanhoe.
Maurice Jackson: Please share where in Montana the Stillwater West Project is located, and provide us some historical context.
Michael Rowley: The project is located in south-central Montana where we adjoin the three producing Stillwater mines, which were bought by Sibanye, a South African gold producer, in 2017 for $2.2 billion. The district is famous for the size and grade of its palladium-platinum mines, which are the highest grade in the world, and the largest outside of Africa and Russia with over 14 million ounces of past production, and over 80 million ounces of resources still in the ground. The PGMs occur along with nickel and copper sulphide, so these are also nickel and copper mines.
Historically, the district, including our block of claims, was also mined for high-grade nickel, copper, chrome and other metals such as cobalt.
The history at Stillwater parallels the developments at the Bushveld Complex in South Africa, so they share more than geology in that regard. Both districts were recognized over 100 years ago for their mineral riches, and both supported a number of mines for varying commodities. And, in both districts, the discovery of high-grade “reef-type” platinum group metal deposits in the 1970s produced large-scale operations that were the sole focus of exploration efforts until the 1990s when regulatory changes forced a release of mineral rights to other operators. In Montana, these changes were in the form of amended U.S. claim fees, while in South Africa it was the end of apartheid. In South Africa, the resulting exploration efforts lead to the development of Anglo American’s Mogalakwena Mines, a giant at over 265 Moz PGMs and a very profitable operation that is the largest open-pit platinum mine in the world. Adjacent to that, Ivanhoe is now building the Platreef mine on the same system with over 112 Moz platinum plus substantial nickel and copper values.
We are the first operators to consolidate the lower Stillwater Complex under one owner, to recognize the similarities of the two systems, and to bring a focused exploration program for Platreef-type deposits to the Stillwater complex in Montana.
Maurice Jackson: Group Ten is exploring for platinum, palladium, nickel, copper and cobalt in a world-class district; compare and contrast how your deposits compare to similar districts like South Africa’s Bushveld, and also your neighbors in Montana at Sibanye-Stillwater.
Michael Rowley: The Bushveld and Stillwater complexes are both layered magmatic systems, which means that they were both created when enormous amounts of metal-rich magma cooled, forming these massive districts nearly 3 billion years ago. As a result, both districts have high-grade PGM-Ni-Cu deposits in the upper layers and they also have lower zones where magmas where allowed to mix, creating thick intervals of sulphide mineralization enriched in PGMs.
At Bushveld, two basic types of mines have been developed for these two deposit types: narrow high-grade PGM mines on two reef-type deposits, and more recently bulk mining operations in the Platreef district such as Anglo’s Mogalakwena mines and Ivanhoe’s underground mechanized operation.
At Stillwater the operating mines have focused on narrow, high-grade reef-style deposits. These are the highest grade in the industry, but no systematic effort has been undertaken to explore for and develop Platreef-style mineralization. Group Ten Metals is now exploring in the lower part of the complex for potential large-scale Platreef deposits in the Stillwater district, following the parallels of the same type of settings in South Africa that have produced the Platreef deposits.
Maurice Jackson: Mr. Rowley, we’ve covered some good background on the Stillwater West Project, walk us through the project.
Michael Rowley: Let’s begin with some of our claim holdings in the Stillwater district and some of the existing resources and operations there. As you can see on the Regional Claims Map, Group Ten’s Stillwater West land position, shown in yellow and orange, is a large 25-km-long claim block located directly adjacent to Sibanye’s three operating Stillwater mines (shown in grey). Proximity to the existing mines provides access to infrastructure such as roads from the west and from the northeast.

Maurice Jackson: What can you share with us regarding the geology and the potential that we have at the Stillwater West project?
Michael Rowley: This is a layered magmatic system, and layering is visible in the geologic map of the Stillwater Complex, as it shows the J-M reef deposit—this is the world’s highest-grade major PGE deposit at 16 g/t, and, at 80 Moz, the largest outside of South Africa and Russia.
Looking at the cross-section of the Stillwater Complex shown on the District Geology figure, this layering is clearly visible. Layers of metal-rich magma were laid down at formation, and then the whole system was later tipped up 60 degrees, which is more amenable to both mining and exploration as mineralization starts right at surface.

Like the Bushveld complex in South Africa, narrow reef deposits occur in the middle and upper layered portions of the igneous system, while the lower portion of the complex, shown here in orange, purple and light blue, are the basal layers where magma mixed with pre-existing rock, created large, disseminated and massive sulphide deposits such as those in the Platreef district in South Africa. Though it was previously recognized these areas had significant nickel and copper mineralization, this is the first time the potential for large PGM deposits with nickel and copper have been recognized, and the similarities to the large deposits in South Africa make this a very exciting exploration target for Group Ten.
Maurice Jackson: What can you share with us regarding geophysics?
Michael Rowley: A geophysical survey measuring the electrical conductivity of the rocks was conducted over the entire property. High metal contents in the rocks would make them highly conductive so this survey gives a very good indication of metal sulphide content of the mineralization that hosts the PGMs, copper and nickel. This type of geophysics is one of the main targeting tools used by companies exploring for metal sulphide deposits and maps the PGE-Ni-Cu targets, as shown in the top half of slide 8. The survey results indicate seven very large highly conductive targets across the lower part of the complex (highlighted by large blue ellipses as Platreef-type deposits), and five high-grade reef type targets (highlighted by red ellipses), above the lower part of the complex, where they would be expected.

Surface and drill results confirm that these conductors are mineralized with PGMs, nickel and copper, and that a good relationship exists between conductivity and metal content. However, Group Ten will be the first company to systematically drill test these targets in the basal zone for these types of deposits. The strongest conductive targets have yet to be tested, so these are very exciting priority targets for us.
Note that the main part of the property is over 20 km long, and that these individual targets are 3 to 6 kilometers in length each, large enough individually to contain a deposit the size of Ivanhoe’s or Anglo American’s Platreef deposits!
Maurice Jackson: What do we know about the soil geochemistry?
Michael Rowley: In addition to the geophysics, we have identified very high levels of metals in soils covering an 18-kilometer-long area with high levels of platinum, palladium, nickel and copper. These elevated metals in soils correlate well with the geophysical targets and the shape of the underlying geology. Group Ten’s work in 2018 was the first property-wide effort to target large-scale Platreef-type systems in the lower Stillwater Complex and to see this combination of large scale geochemical and geophysical targets is very rare.

Maurice Jackson: Tell us a bit more about these geologic targets that you have identified.
Michael Rowley: Below is a picture of some of the core from our property showing strong sulphide mineralization with PGE-Ni-Cu-Co values in the lower part of the Stillwater Complex.
We have identified two primary target types: the high-grade “reef-type” type deposits that are being currently mined by Sibanye-Stillwater and the Platreef-type that Group Ten is targeting based on evidence in the data, and geologic parallels with the Bushveld in South Africa.

Maurice Jackson: What do we know about the styles of mineralization in this kind of geologic environment?
Michael Rowley: In terms of mineralization and mineralization type, slide 11 presents and compares reef type and Platreef-type targets. The Reef type deposits are presented in the brown color box and photos, and we’ve taken the Merensky and the J-M Reef as examples, one from Bushveld and one from Stillwater. Very high grade, very narrow thickness. On the right hand side of the slide are some good pictures showing what it’s like to operate in these mines. Merensky happens to be flat lying, and the mines are deep and expensive to operate. It is expected that many of these marginal Merensky mines will close due to their high costs, which should drive platinum prices in the coming years, with continued reduction of supply even as demand for platinum and palladium continue to grow.
The lower picture on the right shows mining of the J-M Reef deposits at Stillwater, at a 60 degree angle that’s more amenable to mining.

The key take-away from this slide is the scale of the Platreef-style deposits shown in the grey box in the lower left of the slide with the picture of Mogalakwena mine. The thicknesses that we see in the mineralization, and the contained metal in these deposits—these are very large and economically attractive bulk mining operations. It’s worth noting that Anglo American’s Platreef Mogalakwena Mines are the largest and most profitable platinum mines in the world. Ivanhoe’s adjoining Platreef Mine is going to be a very high-tech underground bulk mining operation that looks similarly very economically attractive, and that’s potential that we see at Stillwater West.
Maurice Jackson: The Stillwater West is considered a large brownfields exploration property; how is this important in terms of the potential for exploration discovery and development?

Michael Rowley: Brownfields is a term for a property that is in an area that has had past discoveries and/or production. So this in contrast to a greenfields property, which is outside of proven mining areas.
Many people don’t realize that the majority of exploration dollars spent in the mining industry go to exploration around existing mines because it is one of the best places to make new discoveries and to rapidly be developed and produced using existing infrastructure. The adage is “the best place to find a mine is right next to an existing one.”
In this case, at Stillwater, we have consolidated the district alongside three operating mines owned by Stillwater-Sibanye and are exploring in this same highly productive geologic environment, significantly increasing the probability of making new discoveries and potentially allowing for rapid development of low capital deposits because they are near surface and have the benefit of existing roads, power and other infrastructure already in the district.
Maurice Jackson: Group Ten has other assets in its portfolio. Where are these located, and please provide us with some historical background.

Michael Rowley: Following the Metallic Group model of acquiring quality assets in districts during the low parts of the metals price cycle, Group Ten has another PGE nickel copper project in the Kluane belt of the Yukon. This adjoins Nickel Creek Platinum’s Wellgreen project. World-class geology, and excellent potential for scale and grade there. We are seeing good interest in this asset as well but it’s at an earlier stage than the Stillwater asset.

We also have the Black Lake/Drayton gold project, which adjoins First Mining’s Goldlund project and Treasury Metals Goliath project in the Rainy River belt of Ontario. We have several groups looking at this project as it is a 30-kilometer-long belt of productive geology that sits between two multi-million-ounce gold deposits. We’ve consolidated an impressive land position and database during the bear market and this is a very active exploration district.

Maurice Jackson: What work have you done this year, and how do you prioritize them alongside your flagship Stillwater West project?
Michael Rowley: Work programs at Kluane were focused on target refinement with an eye to adding value and assisting some of the parties from whom we have had expressions of interest. Similarly, in Ontario our work has consisted of refining targets and presenting the potential of the project to the groups we have under CA looking at a possible acquisition or partnership.
Maurice Jackson: You are just wrapping up exploration for this season at Stillwater West so when should we expect to see the next results from this year’s work?
Michael Rowley: This was only our first year on the ground at Stillwater and yet, because of the amount of information we have including surface sampling, mapping, drilling and geophysics we have already identified 12 major targets on the property.

In addition, we have re-logged over 11,000 meters of core that is in our possession, some of which was assayed incompletely, or never assayed at all, and certainly never looked at with the bulk tonnage model we are using. Those results, and the new 3D models they will drive, are expected to give us a lot of news flow over the next several months as we detail the information in each of our target zones with the objective to develop and refine the targets for drilling and to focus on those areas that we may be able to rapidly advance towards new resources.
Maurice Jackson: What is management’s philosophy, are you looking to build mines or are you focused on exploration?

Michael Rowley: We are very much focused on the opportunity to make discoveries and to rapidly advance those to resource definition, as shown on slide 13. This stage can be one of the greatest periods for value creation in mining for investors. It’s not uncommon that the value that’s created in that initial discovery and resource development phase may not be exceeded again until these projects actually go into production, often times many years later.
Maurice Jackson: Switching gears, I’ve learned from some of the most respected names in the natural resource space—Rick Rule, Doug Casey, Jayant Bhandari, Mickey Fulp, Bob Moriarty—that the people running the business are equally, if not more important, than the latent material in the ground. Mr. Rowley, please introduce us to your board of directors and management team, and what unique skill sets do they bring to Group Ten Metals?
Michael Rowley: The quality of the Stillwater asset in particular has enabled us to attract a remarkable team. Dr. Craig Bow, who was part of the original discovery at Stillwater, is back leading the team now. Dr. Dave Broughton, of course of Ivanhoe, awarded for the discovery of the Platreef deposit and other world-class mines for Ivanhoe, just recently joined as senior technical advisor. They both are very excited about the potential here, and are experts in this type of deposit. In addition, we have a number of experienced team members who have worked in this region for decades. It‘s a great group of people to work with. And of course the Metallic Group management team, Greg Johnson, Gregor Hamilton, Bill Harris, myself, all of us veterans are of the industry. The team brings great depth of experience with specialized expertise in PGM and nickel systems.

Maurice Jackson: Tell us about your share structure, options and warrants.

Michael Rowley: It’s early days, we have a market cap of about $8 million, and about 44 million shares outstanding. Key point is we have $3 million of both in the money warrants that are callable and that’s after bringing in about $800,000 worth of those to date.
Maurice Jackson: What is your burn rate?
Michael Rowley: Presently it is about $50,000 per month. That includes our technical team and we do a good job of keeping costs down by sharing office and other back office expenses with the Metallic Group companies.
Maurice Jackson: Do you have institutional investors at this point?
Michael Rowley: We have a couple of mining-focused institutional funds with one out of Europe and one out of Toronto and a great set of high net worth investors.
Maurice Jackson: What is the float?
Michael Rowley: It’s pretty tightly held so probably about 20 million shares, and we turn over about one or two million shares per month.
Maurice Jackson: Mr. Rowley, multilayered question, what is the unanswered question for Group Ten Metals, when should we expect results, and what will determine success?
Michael Rowley: We have a lot to report through coming months as we continue the work to refine the highest priority drill targets for 2019. We have over 11,000 meters of core that has been re-logged and in places re-sampled, we have completed a comprehensive program of surface mapping and sampling and are integrating the drill information along with the surface work and geophysics.
We will be reporting a large number of assay results over coming months from our 2018 programs and are excited to be able to begin 3D modelling of the geophysics and drilling towards developing a predictive 3D geologic model of the lower Stillwater Complex targets.
Maurice Jackson: Mr. Rowley, in the introduction we alluded to the Metallic Group of Companies, please tell more about this.

Michael Rowley: Group Ten Metals is part of a collaboration of leading exploration companies with some common directors between the companies and a similar approach to business. The Metallic Group of Companies includes Metallic Minerals TSX-V: MMG, which is focused on high-grade silver in the Yukon Territory; Group Ten Metals focused on platinum and palladium along with nickel and copper, in the Stillwater District, of Montana; and the newest company to join the group, Granite Creek Copper, as a newly launched copper focused exploration company with an exciting project right next door to a high-grade copper producer in the Carmacks District of the Yukon.
These three companies have each focused on acquiring large blocks of brownfield holdings during the low part of the metal price cycle, adjacent to operating mines with infrastructure and facilities already in place in the districts. All three companies have multiple targets that have potential for major new discoveries, and are focused on large-scale targets that would be of interest to the major mining companies.
We are applying new technologies to the extensive historical data on these projects that allow us to fast-track target development and refinement and drive rapid advancement to the resource delineation stage.
In each of these situations with these operating mines next door, there is an opportunity to be able to fast track development on these targets by utilizing the existing infrastructure in their respective districts. There is also the potential for partnering with those operators or, if we’re successful in discovering very large scale deposits, to see interest by other larger companies.
The Metallic Group of Companies are reducing costs by having a common admin group and CFO, as well as allowing us to have a deeper technical team with some specialists that can be shared across the group.
It’s an exciting group of companies with a common philosophy. Our objective is to build real value for the Metallic Group investors going forward.
Maurice Jackson: Finally, what did I forget to ask?
Michael Rowley: I think that was a very comprehensive overview of Group Ten, and thank you for it. Perhaps in closing, I’d like to touch on a couple of catalysts ahead. On the industry side, we mentioned South Africa and the costs of mining there and the expected closure of a lot of those high-cost platinum mines. It has been a well-established pattern of falling PGM production out of South Africa year-on-year and the CPM Group’s work out of New York indicates that a lot of mine closures are expected soon, in 2019 and 2020. This is going to have a huge effect on platinum prices, because 75% of the world’s PGMs comes out of those reef deposits in South Africa. It’s also worth noting that we have significant nickel, copper and cobalt, which are such important metals for the rapidly growing battery and technology metals space.
We are very bullish on these metals after a seven-year bear market. With most commodity price cycles running four to six years, we believe that the upside opportunity in these metals moving into the next cycle ahead could be very significant.
Lastly, the fact that the Stillwater West project is a U.S.-based project adjoining these world-class, enormous PGM mines in Montana, with all the existing infrastructure in place can allow us to fast track our progress there.
Maurice Jackson: In our first interview, we shared that there was a financing opportunity for accredited investors. Please share the details with us.
Michael Rowley: We recently announced that we are in the process of completing the initial offering for our newly created copper company, Granite Creek Copper.
Maurice Jackson: For someone listening that wants to get more information on Group Ten Metals, the website address is www.grouptenmetals.com. And as a reminder Group Ten Metals trades on the TSX-V:PGE and on the OTCQB:PGEZF. For direct inquiries please contact Chris Ackerman at 604-357-4790 ext. 1 and he may also be reached at info@grouptenmetals.com
And last but not least please visit our website provenandprobable.com, where we interview the most respected names in the natural resources space. You may reach us at contact@provenandprobable.com.
Michael Rowley of Group Ten Metals, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

Disclosure:
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. Proven and Probable disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
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Exclusive Interviews Precious Metals

RICK RULE | Tremendous Discoveries In “One of the Last Great Exploration Frontiers”

Post author By admin
Post date October 27, 2018

By Tekoa Da Silva
I had the chance to sit down once again with Rick Rule, Chairman of Sprott U.S. Holdings. It was a fascinating discussion, as Rule discussed resource speculation in Africa and his experience participating in world-class deposit discoveries made over the last few decades.

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“As a place to [discover] world-class deposits, I would suggest to you that Africa and Central Asia are the last great frontiers [for resource exploration]” explained Rule. “Political and social challenges have kept them from being as thoroughly explored as Western nations.”
“The part of resource speculation that interests me is exploration,” Rule continued. “And the subset of explorers that interests me most are the prospect generators — people who use their investment and commercial acumen (frankly their courage), to explore virgin or semi-virgin terrain, and then bring in joint venture partners to drill. Unfortunately, there aren’t very many prospect generators in Africa, so the universe that I have to explore is fairly small.”
Rule further explained that combining high-quality exploration efforts with well-endowed and underexplored geological terrains, makes truly historic discoveries possible.
“I’ve been fortunate in my life to participate in a few [world class African resource discoveries],” said Rule. “The Africa Oil Corp. discovery of a billion barrels of oil in Northern Kenya, [was] previously an [unexplored] place. Paladin [Energy]’s uranium discoveries in Namibia and Malawi — which ran the stock from 10 cents to 10 dollars — [is] a very fond memory as you might imagine. [Other examples include,] Tenke Mining’s tremendous [copper] success in the Congo [and] Moto Gold’s 10 million oz. gold success at Kibali.”
“[So] my outlook for Africa is very bright, but that isn’t to suggest there aren’t great challenges,” he warned.
One of the perceived challenges of investing in Africa is political risk. Rule indicated that political risk represents “Actions taken by government [that] deprive me of legitimately generated wealth. [But] by that standard, of course, the jurisdiction that I live in, California, is probably one of the riskiest jurisdictions in the world. It’s just that we look at risk differently … risks that look like us, risks that we understand, risks that we participate in creating are regarded as somehow less venal. People will hate to hear this, but I love to say it — money stolen by white people, [speaking] English, according to the rule of law, is just as gone as money that’s stolen more efficiently by traditional methods.”
While Western resource markets may present greater political risk, “Western institutional investors (primarily generalists) have [ironically] painted Africa as a do-not-go[-to] place,” Rule added.
“[But] I think the opportunities are larger than the risks, if you are willing to take those risks,” Rule concluded. “[And] what appeals to me are the exploration companies … the companies that can take exploration concepts (and social risk) … and discover very large deposits.”
To watch the full video interview with Rick Rule, Chairman of Sprott U.S. Holdings, click here.
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Base Metals Exclusive Interviews Precious Metals

METALLIC MINERALS | Exploring for High-Grade Silver in the Brownfields of the Yukon

Post author By admin
Post date October 24, 2018

FINANCING OPPORTUNTY FOR ACCRECREDITED INVESTORS

Greg Johnson, chairman and CEO of Metallic Minerals, sits down with Maurice Jackson of Proven and Probable to discuss his company’s silver exploration in the Yukon. This is a 3 part series introduction into the value proposition of the Metallic Group of Companies. Important Note: Enclosed is a Financing Opportunity of Accredited Investors.
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TRANSCRIPT

Original Source:
http://www.theaureport.com/article/2018/10/24/exploring-for-high-grade-silver-in-the-brownfields-of-the-yukon.html

Exploring for High-Grade Silver in the Brownfields of the Yukon
Contributed Opinion

Source: Maurice Jackson for Streetwise Reports (10/24/18)

Greg Johnson, chairman and CEO of Metallic Minerals, sits down with Maurice Jackson of Proven and Probable to discuss his company’s silver exploration in the Yukon.

Maurice Jackson: Joining us today is Greg Johnson, the CEO and chairman of Metallic Minerals Corp. (MMG:TSX.V), which is known for high grade silver in Canada’s Yukon Territory.
Today’s interview will be the first of a three-part series, introducing the value proposition for the Metallic Group of Companies comprising Metallic Minerals, Group 10 Metals and Granite Creek. These are three separate leading exploration companies, each with a different metal of focus, but with a common approach to business under the proven management of the Metallic Group.

Today, we will focus on Metallic Minerals, a leading explorer of high-grade silver in the Yukon Territory. Mr. Johnson, for someone new to the story, who is Metallic Minerals? What is your flagship project? What is the thesis you’re attempting to prove?
Greg Johnson: Metallic Minerals is a leading explorer for high-grade silver, and we are exploring in the Keno Hill silver district of Canada’s Yukon territory. This famous silver district is one of the highest-grade silver producers in the world, producing over 200 million ounces of past production and hosting over 100 million ounces of current resources.
Over the past two years, Metallic Minerals has consolidated the district adjacent to Alexco Resources, and we are undertaking exploration along the extensions of the known productive structures that continue onto our land holdings. We believe that the Keno Hill Silver District has the potential to be a billion plus ounce silver district, and geologically is very similar to the Coeur d’Alene District in Idaho, which has produced over 2 billion ounces of silver from very similar style veins.
Maurice Jackson: Please share where in the Yukon the Keno Silver Project is located and provide us with some historical context.
Greg Johnson: The Keno Silver Project is located in the central part of the Yukon and was discovered after the famous Klondike Gold Rush with dozens of producing mines developed in the district over the years since the 1920s to the present.
Metallic Minerals has consolidated what was previously very patchwork land ownership, with more than 40 different owners in the district. It’s largely now Alexco and ourselves, with eight past-producing, high-grade mines on our holdings, giving us excellent exploration potential.
Exploration of the Keno District over the past few years has seen some major new discoveries including the Bermingham silver deposit by Alexco, which is probably one of the best new silver discoveries in the industry, by grade and quality. It really demonstrates the remaining potential in this proven high-grade district for new discoveries.
Maurice Jackson: Mr. Johnson, we’ve covered some good background on the Keno Silver Project. Walk us through the project.

Greg Johnson: I think a good way to start is by taking a look at a map of the lower part of the Yukon. You can see on this map, the Keno District is right in the middle of the Yukon, located on the highway. There’s grid power on site with a mill operated by Alexco Resources. The Silver Trail highway from the Keno area connects to the Klondike highway leading through the capital, Whitehorse, and down to existing port shipping facilities, in Skagway, Alaska.
All the infrastructure that’s needed to build a mine is already here in the Keno District. This project also sits within the traditional territory of the Nacho Nyak Dun First Nation, who have comprehensive cooperation benefits, agreements in place with both Alexco and some of the other most advanced projects in the region. It’s really an excellent place to be exploring.
If we take a look at a regional map of the district you’ll see the Alexco holdings in the light green and the Metallic Mineral holdings in the golden brown color, that really forms the core part of the Keno Hill Silver District, where these high grade silver veins occur.

Within the region, there are additional players, such as Victoria Gold Corp. (VIT:TSX.V), which is developing a large open-pit mine that’s currently under construction. To the north, Atac Resources, partnered with Barrick Gold on the Rau Trend property, which is adjacent to our Mackay Hill project, another high-grade silver project that we’ll talk about a bit later.
On this map you can more clearly see the road access in the area, with Keno city and the Keno Hill mill in the center of the district. This infrastructure gives accessibility to the entire property and will really facilitate a development of any resources in the future.
Alexco Resources built the current mill in 2010. You’ll see that the average grade is between 840 and 930 grams per tonne for the current mine plan for Keno Hill. This is the highest grade of silver in its class. At 3.5 to 4 million ounces per year, this would make this a top 10 silver producer in terms of silver production levels among listed companies.
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You’ll notice that the capex for the new mines is quite low at $27 million dollars, with an exceptional IRR, and that’s because these deposits are quite shallow. These deposits are very high grades, and the relatively low tonnage and near surface depths make for a low capital investment to bring these to production.
If we take a look at grade of the Keno District versus grade of the other primary silver mines in the industry, this chart compares the mine grades of those various projects.

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What you’ll see on the far right are a number of relatively low grade mines, then a large group of mostly underground, medium grade deposits. Then on the far left of the chart it highlights six silver mines that truly stand out in terms of their grade.
Keno Hill, is the second highest total grade, and the highest in terms of silver grade with the new mine plan of any of those deposits. What also stands out in this comparison is that it is located in Canada. It’s one of the few Canadian silver projects and thus among the lowest political risk.
The style of deposit and the style of the veining that we see at Keno occurs as high sulfide, silver, lead, zinc veins. These are structures that form in the key host rocks, such as the Keno Hill quartzite and greenstones. What you can see in this image is underground at the Bellekeno Mine and is fairly typical of the mineralization that you would see in the Keno District.

These are structurally controlled deposits and for exploration it is key to understand where the structures are. This tabular zone shown here would continue towards the surface, and it would continue at depth varying in terms of its overall width. These are very high-grade silver veins and that can run over 5,000 grams per tonne in the in the Keno District.
If we take a look at the geologic map of the entire Keno Hill District from Silver King on the West to Cobalt Hill on the East, it measures about 35 kilometers from end to end. The lines on map represent the 12 known mineralized structural trends and in the orange circles are the past producing mines that occur along those major trends like “pearls on a string.” You can see in yellow the recent new discoveries in the district, which highlights some of the new mines that we expect to see going into production in the near future. The small red circles represent high grade past producers that occur on the Metallic Minerals holdings.

Our lands are dominantly to the East, which is the lesser explored part of the district, but also continue to the South and West and in places internal to the Alexco holdings. We have focused on acquisition of key blocks of ground that have shallow past production and have potential for resource development.
Looking at a cross section across the district from West to East allows us to look at a slice through the geology and to see the regular nature of these deep seated structures that have formed vein deposits in the district.
The red stippled ellipses represent the mineralized zones particularly in the brittle quartzite host rock, which is shown in light purple. The Keno Hill quartzite is an excellent host for these structures to form these Keno type deposits.
It’s believed that underneath the Keno District we had metal rich intrusive bodies that were the source of the fluids that drove these vein deposits. As you move from west to east, you see a general decrease in the amount of exploration and production that we’ve seen in the district. The Bermingham Trend is the most developed with 160 million ounces of past production plus current resources, while the lesser explored adjacent Elsa and the Husky trends have about 35 million ounces each. As we continue to the east, you have the Flame & Moth Deposit, which is a new discovery in the district with about 50 million ounces, and then Bellekeno at about 25 million.
As you progress further east the areas had some shallow historical mining but, as mentioned, were these were mostly held privately and have not generally seen modern exploration. These areas have been subsequently consolidated under Metallic Minerals and have the same style of geology as on the western side of the district where most of the past production was focused. We are now exploring in these less explored areas as part of our Keno Silver Project.
Looking at a long section along the vein on the Bermingham Trend, we get a sense of the types of geologic settings and deposits that form across the district. In the center of this section are the Hector-Calumet Mines, which were the largest producers in the district at over 100 million ounces, of very high grades in excess of a 1,000 grams per tonne silver.

Notably, Alexco recently discovered the Bermingham deposit along this major structural trend, in an area of relatively modest past production just 1 kilometer from the Hector-Calumet mines. That deposit has now grown into some 50 million ounces, it still remains open at depth, and it has the potential to become perhaps even the largest deposit in the district.As an exploration geologist you get quite excited when a deposit of this quality and size is being found right near surface and only a kilometer from the largest producer in the district. This is a strong indication that this is a district that has excellent potential for new discoveries, as we continue to explore a lot on these trends.
As you go to the east from the Hector-Calumet, you get out of the quartzite hosted vein systems and into the greenstone hosted vein systems. This is a second brittle host rock that provides an excellent setting for developing high grade mineralization, and the Sadie Ladue mine is an example of a greenstone hosted Keno deposit.
These styles of deposits are the same styles that Metallic Minerals is looking at in on our ground in the other parts of the district. We have ground that is both east and west of the Bermingham Trend, and we have been prioritizing among various targets to pick the ones that we believe have the best potential to advance the most rapidly towards resource development.
We have three priority categories of targets at Keno that are at different stages of development. The most advanced targets are at the resource delineation stage, where we have high grade mineralization at surface, with trenching and shallow drill holes that indicate we have a mineralized system similar to the setting seen in other parts of the district. We’ve been drilling along those structures to determine the scale and potential of those targets at the Caribou, Homestake and Formo deposits.

We have six other targets where we have high-grade mineralization at surface with trenching and surface sampling, but these have not yet been drill tested. These targets are now refined enough that we’re ready to go in and drill test them as part of our 2019 program. Initially, we’ll probably drill four to six holes on these targets looking to determine whether or not these have potential to become large vein systems, similar to what we see in other parts of the district.
In addition, we’ve got about 20 earlier stage targets, where we are developing and refining our understanding of the system through tools such as a geophysics and soil sampling, trenching and mapping. These will be targets that we’ll be looking to advance to a drill targeting stage. Coming out of this program in 2018, we’re quite excited to be continuing our work, refining the targets that we have drilled and getting these initial step out drill test completed, on some of these already identified target areas.
Maurice Jackson: Mr. Johnson, you’ve demonstrated that Metallic Minerals is exploring for high grade silver in a world class district. Compare and contrast how shallow your deposits are compared to similar districts like the Coeur d’Alene District, Idaho, which was the start of many of the best-known silver miners like Coeur and Hecla.
Greg Johnson: This is an excellent point, Maurice. When we look at the Keno District, as I mentioned it is very comparable in terms of style geologically with Coeur d’Alene, but in the Keno district the deepest mining to date is only to about 300 meters from surface. The deepest drilling is in the new Bermingham discovery at 400 meters of depth.
By contrast, in the Coeur d’Alene District they’ve recently completed a new shaft to 3 kilometers of depth and region has produced over 2 billion ounces of silver. This highlights the potential in the Keno District as we continue to explore a long trend in depth and to really grow this similar style district beyond the 200 million ounces of past production and current 100 million ounces of total resources.
Maurice Jackson: The Keno Silver Project is considered a large brownfields exploration property, for the members of the audience that may not be familiar with the term brownfields. Please explain why this should matter to them.
Greg Johnson: A brownfield exploration property is a term that we use when you’re exploring an area that has had significant past production and discoveries. Many people may not realize that the majority of the exploration dollars that are spent each year in the mining industry actually go into expiration in and around existing mines, because that is one of the best places to make discoveries that can be rapidly developed and produced using the existing infrastructure in the area. The adage in the mining industry is the best place to find a mine is right next to an existing one.
In this case, in the Keno District, we’ve consolidated our landholdings alongside an existing mine operator, Alexco Resources, and we are exploring on those same productive geologic structures. This dramatically increases the probability of exploration success, and for making new discoveries. It also would allow us to utilize existing infrastructure in the district to facilitate rapid development of low capital cost mines.
Maurice Jackson: Metallic Minerals has another silver property in your portfolio, McKay Hill, where is it located from the Keno Hill Project and please provide us with some historical background.
Greg Johnson: The McKay Hill property is an earlier stage property, but it’s an opportunity that we see for another potentially district scale, high grade silver-lead-zinc property similar to Keno. It’s about 50 kilometers to the north up near Atac Resources’ ground; it was historically a high-grade producer back in the 1930s and the 1940s. What our work over the last couple of years has shown is that we’ve got a large number of veins in the area, that these come right to surface, and with the sampling that’s been done to date, we see the opportunity to develop a second project with significant potential here. We completed a work program in parallel to our Keno Silver Program this year on the property, and we’re expecting to be able to release results from that very shortly.

Maurice Jackson: How has the work gone this year at McKay Hill?
Greg Johnson: Well, it’s been an exciting year this year. This is a follow-up year from last year’s program where we did initial sampling in some of the known historical prospects. This year, our work expanded out across the property using geophysics, geochemistry and prospecting. We did work in new areas that hadn’t been previously recognized and expanded the known zones. What was exciting is that we had several new vein discoveries that we uncovered this year and we significant expanded the size of the historical central zone now approximating a kilometer in length and 250 meters in width. It really looks like we’ve got the potential for something that’s coming together as a bulk mineable target, as well as a number of other high-grade vein occurrences on the property that really justify additional work.
The results that we received last year showed similar types of mineralization to Keno with silver equivalent values over 1,000 grams per ton, and sometimes gold values exceeding 10 or more grams per tonne in some select samples. This is again a polymetallic system, it’s silver, lead, zinc, copper and gold. It’s an exciting opportunity earlier stage, and is indicating that this regio shows excellent potential for creating value, as we continue to explore and advance this portfolio projects.

Maurice Jackson: All right sir, now you’re wrapping up exploration for this season at the Keno Silver and McKay Hill Silver Projects. When should we expect to see the next results from this year’s drilling and target development work?
Greg Johnson: Much like last year, we would anticipate being able to release results over the next couple of months, as we receive them. Last year based on putting those numbers out, we saw quite a good response in the market and are encouraged as we continue to advance and highlight the potential on the property. We expect to have a series of news releases ahead for the company, and we look forward to being able to lay out those results and indicate the potential, the number of targets we’ve got and the opportunity going forward on these properties.
Maurice Jackson: Lastly, Metallic Minerals is also building a portfolio of alluvial gold production royalties in the Klondike Gold District. Can you tell us about that?
Greg Johnson: This is a fairly new opportunity for the company. Last year, we had a chance to pick up a large block of ground in the Klondike Gold District, the historical Gold Rush area where alluvial or placer production of gold in gravels was discovered in the 1890s. Since that time, production of gold has continued in the region, with large bucketline dredges through the 1970s, and later open pit mining along the major drainages. To date there’s been about 20 million ounces of gold produced in the region.

The Indian River drainages are now the single largest producer in the Klondike District, producing about half of all the alluvial gold in the Yukon. Metallic Minerals has been able to acquire a large block of land in this area, with the opportunity to be able to invite experienced placer mining operators to option this ground where we receive a 10% to 15% royalty on their production.
We completed two options last year and have already received some initial royalties from test mining in 2017 and 2018. This year we have leased another 6 miles out of 27 miles with exploration activities happening this year on those new leases.
We see this as an opportunity to start to build a production royalty business, that though modest to start with, over time we think can be fairly substantial for the company. It could allow us to build sustainable and cash flow while we continue exploration as one of the leading silver explorers in the Yukon.
In particular, the opportunity on Australia Creek is an interesting one, as this area was not historically mined and it is one of the few areas in the region where land packages of scale are available to be developed. These initial leases have established infrastructure that then allows additional high quality operators to come in to the upper parts of the stream. We are currently in the permitting process on three new operating areas, and we’ll have the potential for another 10 operators here in the next year or two. We are in discussions currently with a number of parties who are interested in acquiring ground in this highly prospective area.

It’s an exciting development for the company, and I think it has the opportunity to provide sustainability and potential cash flow for the company going into the next couple of years.
Maurice Jackson: I am quite impressed with the 10% to 15% production royalty that you’re receiving here. Share with us how are we able to accomplish this?
Greg Johnson: It’s a point that’s worth noting since, in the hard rock mining business royalties are often range from 1% to 3% range, the difference here is that the cost to run an alluvial mine in terms of the equipment and the operating cost and capital is much, much lower.
This means that operators can afford to pay a higher royalty for alluvial production because there’s not as much capital investment and the timeline to permit one of these projects is months as compared to years for hard rock deposits. That allows the opportunity for both higher royalty payouts and a faster pathway to production on these in comparison with a royalty for a hard rock deposit.
Maurice Jackson: This really speaks to the business acumen of Metallic Minerals. What is management’s philosophy? Are you looking to build mines or are you focused on exploration?
Greg Johnson: On the silver side of the business, we’re very much focused on the opportunity to make discoveries and to rapidly advance those to resource definition. We think that this stage is one of the greatest periods for value creation and represents opportunity for investors to benefit by being part of it. It’s not uncommon that the value that’s created in that initial discovery and resource development phase may not be exceeded again until these projects actually go into production, often times many years later.
This is a team that’s been serially successful, in terms of finding large deposits and developing name those and advancing those. We really see that as the opportunity for our investors to participate in that process.

On the alluvial gold business, what we’re focusing on is acquiring large land packages, getting them permitted, and then inviting experienced operators to come in and pay us a royalty on production. So it’s really a combination of both value creation through new discoveries and production royalties that define the opportunity with Metallic Minerals.
Maurice Jackson: Switching gears, I learned from Rick Rule and Doug Casey that the people running the business are equally, if not more important, than the latent material on the ground. Mr. Johnson, please introduce us to your board of directors and the management team and what unique skill sets do they bring to Metallic Minerals?
Greg Johnson: I think this is really an exceptional group of explorationists and professionals. We’ve worked together in the past with other companies. Many of us worked with the well-known large producers such as Barrick Gold and others, and were key members of leading explorer/developers such as NovaGold, Trilogy Metals, Wellgreen and Northern Free Gold. This is a group that has been credited for the discovery and advancement of some of the largest deposits in North America, including the Donlin Creek Gold Deposit in Alaska, now over 40 million ounces of reserves; the large Galore Creek Copper, Gold, Silver Deposit in British Columbia; and the Wellgreen Platinum Nickel Copper Deposit in Yukon. This is also a group that has been involved in permitting mines in Yukon, and has been recognized for its environmental stewardship and our approach to business.

It’s exceptional to see an explorer have the depth of experience that we have in this team with many people having 20 to 30 years or more experienced in the industry. I think it really was an opportunity for a great group of people who’d worked together in the past to be able to come together to work on some truly exciting projects. Where they saw the potential to create value, to be an equity shareholder and to have some fun working on some really exciting projects.
Maurice Jackson: Let’s talk about the stock, tell us about your share structure, options, warrants and cash position.
Greg Johnson: The company is a relatively new company, founded in middle of 2016. Now, we’ve got 61 million shares outstanding, and with options and warrants, it’s about 87 million fully diluted. Current market capitalization is approximately $15 million and we’ve got about $1.3 million in cash as of our last quarter, and we’ve got about $1.8 million in callable warrants that are deep in the money, and we are debt free. We’ve got a good tight share structure, we’ve got probably trading something on the order of about 1 to 2 million shares a month.

On a relative trading basis, you will see that the Metallic Minerals has held up well against both the Silver ETF as well as the GDXJ shares, the Junior Miners ETF. I think that’s largely because our shareholders recognize the long-term value in the Keno Silver district and the potential opportunity to participate in that discovery process. I think that we’ve been able to demonstrate value creation despite a very challenging market, through the results we’ve had to date and look forward to continuing to deliver on those kinds of results.
Maurice Jackson: What was your budget this year on Keno Silver and MacKay Hill?
Greg Johnson: We spent about $2 million at Keno Silver, and about $500,000 at Mackay. At McKay, we are advancing towards a drill targeting stage and should be ready to drill for 2019. At Keno, a combination of target development and refinement, and drill testing at the three most advanced targets on the property, where we’ve done step out drilling to continue to understand the scale and potential of those opportunities.
Maurice Jackson: Tell us about your burn rate.
Greg Johnson: Our burn rate is quite modest. One of the benefits with the Metallic Group of Companies is that we’re sharing an admin team and office space. We’re really focused on keeping costs low, terms of running the company, being able to focus money in the ground. We’re probably running at about $50,000 a month, including our technical team, to run the company, and we’ve got some opportunities to reduce those numbers further. This is really all about trying to focus funds on doing value creating activities, and that’s really money in the ground and money at the drill bit.
Maurice Jackson: Do you have institutional investors at this point?
Greg Johnson: Even though we’re a relatively newer company, we do have several mining focused institutional funds. We’ve got one group out of Europe already and two of Toronto, making up about 11% of the shareholders, and then we’ve got about 30% of the shares held by high net worth individuals, and management and board is one of the largest holding groups at 25%.
Maurice Jackson: What is the float?
Greg Johnson: We are probably looking about 30 million shares and probably significantly less as the actual available stock that’s out there for trading. It’s fairly tightly held, though we have pretty good liquidity for a smaller company in the sense that we’re trading at a couple of million shares a month on most months.
Maurice Jackson: All right, sir, you survived, multilayered question here. What is the next unanswered question for Metallic Minerals? When can we expect results and what will determine success?
Greg Johnson: The next few months should be an exciting period for the company. We’re expecting news results from both Keno Silver and MacKay Hill coming out over the next couple of months, similar to last year. There has been considerable progress on both projects and we continue to develop and advance new targets at both.
In addition, with the expansion of the resource at Bermingham that was announced recently by Alexco, and with them advancing that into production very shortly, that should draw attention to the district over the next six months and should be a positive catalyst for Metallic Minerals.
The Keno Silver project is an ongoing opportunity for value creation. It’s a very large land package, in 2019 we’ll have nine targets that are a drill ready, including the three that are at the early resource delineation stage. We’ve got another 20 targets that were advancing towards drill testing. This is a property that’s got a long history of discovery and production and we will continue to be focused on building out that value for our shareholders.
We’re also very bullish on the silver price. Looking at where we are in the metal price cycle, and the historic returns that have been seen particularly in the silver sector coming out of these market bottoms, we think this is an excellent time for investors to be looking at high quality names in the precious metal space, and particularly in silver.
Maurice Jackson: Mr. Johnson in the introduction we alluded to the Metallic Group of Companies, please introduce us to them.
Greg Johnson: In early 2018, Metallic Minerals and Group Ten Metals announced they were forming a collaboration as part of the Metallic Group of Companies, with some common directors between the companies and a similar approach to business. Group Ten Metals is focused on platinum and palladium along with nickel and copper, in the Stillwater District, of Montana. In October, we announced the newest company to join the group, Granite Creek Copper, as a newly launched copper focused exploration company with an exciting project right next door to a high-grade copper producer in the Carmacks District of the Yukon.

These three companies share a common philosophy and approach to business; all three have focused on acquiring large blocks of brownfield holdings during the low part of the metal price cycle next to operating mines so that the infrastructure and facilities are already in place. All of these show multiple targets that have potential for new discoveries, with targets that start at surface.
With these operating mines next door, it really provides an opportunity to be able to fast track development on these targets by utilizing the existing infrastructure in their respective districts. There is the potential for partnering with those operators or if we’re successful in discovering very large scale deposits, which we believe is the potential in these properties, to be able to see perhaps even the entire district become a target for consolidation by even larger companies.
The Metallic Group of Companies are reducing costs by having a common admin group and CFO, as well as allowing us to have a deeper technical team with some specialists that can be shared across the group.
It’s an exciting group of companies with a common philosophy. Our objective is to build real value for the Metallic Group investors going forward.
Maurice Jackson: What did I forget to ask?
Greg Johnson: Well, I think that was a pretty comprehensive discussion. One last point that’s probably worth mentioning is regarding our newly launched copper exploration company, Granite Creek Copper. We have just announced that we are undertaking an initial offering on Granite Creek Copper, and interested accredited investors can contact us if they would like to get additional information on that private placement opportunity.
Maurice Jackson: If one wants to get more information on Metallic Minerals, please share the website address.
Greg Johnson: Our website is http://www.metallic-minerals.com.
Maurice Jackson: As reminder, Metallic Minerals trade the TSXV symbol MMG, and on the OTCQB symbol MMNGF. For direct inquiries, please contact Chris Ackerman at 604.629.7800 Ex.1, he may also be reached at info@metallic-minerals.com.
Last but not least, please visit our website www.provenandprobable.com where we interview the most respected names in the natural resource space. You may reach us at contact@provenandprobable.com.
Greg Johnson of Metallic Minerals, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

Disclosure:
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. Proven and Probable disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Victoria Gold. Click here for important disclosures about sponsor fees.
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4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
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