Interview with Morgan Poliquin, President & CEO, Almadex Minerals

Our previous interview: https://www.cruxinvestor.com/posts/almadex-minerals-tsxvdex-prospect-generator-with-16m-cash-nsrs-5276

Recording date: 10th of January, 2025

Almadex Minerals, under the leadership of President Morgan Poliquin, is positioning itself to discover large-scale copper-gold porphyry deposits in the Western United States. The junior exploration company has assembled a portfolio of six early-stage porphyry projects across Nevada, Arizona, Colorado, and New Mexico in 2024, marking a strategic shift from its previous 25-year focus in Mexico.

The company employs advanced exploration techniques to identify potential porphyry deposits, focusing on detecting large zones of clay alteration that typically overlie these mineral systems. These clay alteration zones, known as lithocaps, can be identified from space and serve as markers for potential deposits beneath the surface. The company has already delineated such zones at its six key projects.

A distinguishing feature of Almadex is its ownership of diamond drilling equipment and an experienced drilling team. This in-house capability provides both cost advantages and operational flexibility, allowing the company to conduct proof-of-concept drilling programs without the constraints of contractor agreements. The company can adapt its drilling plans based on results and execute shorter, targeted campaigns when needed.

Entering 2025, Almadex is well-positioned with over $13 million in working capital. The company plans to drill one to two projects itself while seeking joint venture partnerships to advance other properties. Target refinement will continue through the first half of 2025 using mapping, sampling, and geophysical surveys.

The company's exploration strategy aligns with current market conditions. With copper being crucial for clean energy transition and electrification, and gold serving as a safe haven in uncertain times, the demand for new discoveries remains strong. The scarcity of major copper and gold discoveries in recent years, combined with the strategic value of deposits in stable jurisdictions like the United States, enhances the potential value of Almadex's portfolio.

Poliquin sees increasing market recognition of the sector's importance and expects growing interest in the company's verifiable portfolio of copper-gold targets in the United States. The company's investment thesis rests on its potential for world-class discoveries, technical expertise, cost-effective drilling capabilities, and strong financial position. As exploration activities ramp up in 2025, Almadex aims to capitalize on the favorable macro environment for copper and gold exploration while maintaining the flexibility to advance projects either independently or through partnerships.

Learn more: https://www.cruxinvestor.com/companies/almadex-minerals

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