Company Interviews

Interview with Stephen G. Roman, President & CEO of Global Atomic Corp.Our previous interview: https://www.cruxinvestor.com/posts/global-atomic-tsxglo-20-million-raise-advances-dasa-uranium-project-5778Recording date: 4th September 2024Global Atomic Corporation (TSX:GLO) is making significant progress on its Dasa uranium project in Niger, positioning itself as a key player in the growing nuclear energy sector. CEO Stephen Roman recently provided updates on the project's development, financing efforts, and market dynamics, offering valuable insights for potential investors.Project Development:The Dasa project is advancing on schedule, with earthworks completed for the acid plant area and the plant itself fabricated and ready for shipment. Underground development is underway, with major drilling operations creating two ventilation shafts to support continued mining activities. The project currently employs about 450 people, indicating its substantial scale and potential economic impact on the local community.Government Support and Political Landscape:Global Atomic has secured strong backing from the Niger government, evidenced by a recent letter from the president directing all government departments to support the project. Despite recent political changes in the region, relations with key international partners, including the United States, remain positive. The expected reopening of the Niger-Benin border should improve logistics for the project.Financing and Market Dynamics:The company is pursuing financing through the U.S. International Development Finance Corporation (DFC), with approval expected by the end of Q4. Alternative financing options, including joint venture discussions, are also in progress. This multi-pronged approach demonstrates flexibility in securing the necessary funds for project development.The uranium market has seen rising prices, with term prices reaching $80 per pound, up from $35 eighteen months ago. However, uranium equities, including Global Atomic, have faced recent pressure, with the company's stock down 40% since mid-July. This disconnect between commodity prices and stock valuations presents both a challenge and a potential opportunity for investors.Competitive Advantage:Global Atomic's Dasa project holds a unique position as the only new greenfield uranium mine being developed globally. This status potentially gives the company a significant advantage in meeting future demand growth as the world increasingly turns to nuclear power as a clean energy solution.Risks and Considerations:Investors should be aware of the challenges facing the company, including market volatility, geopolitical risks in the Sahel region, and the complex nature of developing a large-scale mining project. The cautious approach of utility companies in signing long-term contracts until project financing is secured also presents a near-term challenge.For investors considering Global Atomic, the key attractions include:Exposure to rising uranium prices and growing nuclear energy demandStrong government support in NigerAdvanced stage of project development with key milestones approachingPotential for long-term utility contracts once financing is securedUnique position as developer of the only new greenfield uranium mine globallyInvestors should weigh these opportunities against the risks inherent in mining development and frontier market operations. A long-term investment horizon is likely necessary given the cyclical nature of the mining sector and the time required to bring new production online.As the global energy landscape continues to evolve, with increasing emphasis on low-carbon power sources, Global Atomic's progress at Dasa bears watching for those interested in the intersection of mining, energy, and frontier market development.View Global Atomic Corp's company profile: https://www.cruxinvestor.com/companies/global-atomic-corpSign up for Crux Investor: https://cruxinvestor.com

Interview with Derek Macpherson, Executive Chairman & Director, and Samuel Pelaez, Presiden, CEO & CIO of Olive Resource Capital Inc.Previous episode: https://www.cruxinvestor.com/posts/investors-to-benefit-as-major-copper-deals-spark-recycling-of-cash-into-developers-5769Compass, episode 5.Recording date: 29th August 2024The gold mining sector is experiencing a remarkable resurgence, with Q2 2024 results highlighting the industry's robust health and promising outlook. Major players have reported exceptional financial performance, with operating cash flows increasing by an average of 65% compared to the previous year. This surge in profitability is attracting attention from generalist investors, potentially catalyzing a broader rerating of gold equities.Gold mining stocks are outperforming the gold price, with equities outpacing the commodity by a factor of 3-to-1 since Q2 expectations discussions. Despite recent gains, analysts suggest there's still significant upside potential, with estimates indicating gold stocks could see another 30% appreciation to fully reflect the move in gold prices since October 2023.The positive momentum is not limited to major producers, as there are early signs of this bull market trickling down to junior producers and developers. Recent financings in the development and exploration space, even during the typically quiet month of August, indicate growing investor interest across the entire gold mining spectrum.Looking ahead, the industry is entering a period of heightened activity and potential catalysts. September brings major conferences like the Beaver Creek Precious Metals Summit and the Denver Gold Forum, which often coincide with increased M&A activity. While September to November is traditionally a weak period for gold prices, current market dynamics could buck this trend, with the December to Q1 period historically strong for gold.Investors should keep an eye on macroeconomic factors, particularly the upcoming Federal Reserve meeting in September. Overall, the gold mining sector presents an exciting investment opportunity, characterized by strong financial performance, improving investor sentiment, and potential for further appreciation across various stages of the gold mining value chain.—By applying the criteria discussed and maintaining a diversified approach, investors can potentially capitalize on the opportunities presented by the junior mining sector while mitigating some of the inherent risks. However, it's important to remember that even with careful analysis, investments in this sector remain speculative and should only represent a portion of a well-balanced portfolio.This podcast is for information purposes only and does not provide any investment, financial, economic, legal, accounting or tax-related advice or recommendations. The content of this podcast is not intended to amount to advice on which you should rely. Based on this podcast, you should obtain specific professional advice before taking or refraining from any action or inaction. The information contained in this podcast does not constitute an offer to buy or sell securities or any other product. It should not be relied upon to evaluate any potential transaction. The views and opinions expressed in this podcast are not necessarily those of Olive Resource Capital Inc. (“Olive”) and its respective directors, employees, officers, agents, shareholders, or affiliates. Olive is not providing any investment, financial, economic, legal, accounting, or tax-related advice or recommendations in this podcast. Olive makes no representations, warranties, or guarantees, whether express or implied, that the content in this podcast is accurate, complete, or up to date. Any and all liability is expressly disclaimed, and Olive has no responsibility or liability whatsoever for the use of this podcast.This podcast may include content provided by third parties. All statements and/or opinions expressed by third parties are solely opinions and responsibility of the person or entity providing those materials. Such materials do not necessarily reflect Olive's opinion. This podcast should not be copied, distributed, published, or reproduced, in whole or in part, without Olive's express written consent.Learn more: https://cruxinvestor.com/categories/commodities/goldSign up for Crux Investor: https://cruxinvestor.com

Interview with David Kelley, President & CEO of Chakana Copper Corp.Our previous interview: https://www.cruxinvestor.com/posts/chakana-copper-tsxvperu-drilling-points-to-significant-copper-mineralization-5654Recording date: 31st August 2024Chakana Copper's recent announcements regarding its Soledad project in Peru have unveiled significant potential for investors interested in early-stage mineral exploration. The company's latest findings, including high-grade silver discoveries and indications of a large porphyry system, position Soledad as a promising exploration play with multiple avenues for success.Key highlights from the project include:High-grade silver discovery: The La Joya prospect has yielded impressive results, with silver grades exceeding 1 kilogram per ton near the surface. This high-grade mineralization, located just 58 meters below the surface and extending over a 700-meter footprint, presents an attractive near-term target for resource development.Geological breakthrough: Chakana has made significant strides in understanding the controls on mineralization in the district. The identification of a large precursor intrusion and its relationship to subsequent mineralization provides a roadmap for more targeted and efficient exploration efforts.Porphyry potential: The Mega Gold target area shows promising signs of a porphyry system, including pyrite shells and geophysical signatures typical of such deposits. While still in the early stages, this target offers substantial long-term potential.Multiple deposit types: The Soledad project encompasses various deposit types, including high-grade breccia pipes, epithermal systems, and porphyry targets. This diversity increases the chances of making an economic discovery and provides multiple paths to success.Resource growth potential: Chakana aims to increase its resource base from the current 6.7 million tons to 10 million tons in the near term, with several promising targets yet to be fully explored.The company's exploration strategy focuses on systematically testing these various targets, balancing near-term resource growth potential with longer-term, larger-scale opportunities. Upcoming drilling programs at La Joya, Ceiro breccias, and the Mega Gold target area are expected to provide significant news flow and potential catalysts for the stock.Investors should note that Chakana Copper, as a junior exploration company, presents both high risk and high reward potential. The company will require ongoing funding to support its exploration efforts, which may lead to dilution for existing shareholders. However, the project's geological merit, the company's systematic approach to exploration, and the experienced management team led by CEO David Kelley provide some mitigation to these risks.The macro environment for copper exploration remains favorable, driven by increasing demand from the green energy transition and electric vehicle production. Additionally, precious metals like silver continue to attract interest as safe-haven assets.For investors willing to accept the inherent risks of early-stage mineral exploration, Chakana Copper offers exposure to a project with district-scale potential in a well-established mining jurisdiction. The company's recent discoveries and geological breakthroughs have significantly de-risked the project, while still offering substantial upside potential if further exploration success is achieved. As CEO David Kelley states, "We're looking for a trillion dollar asset... if we're successful, the type of wealth and financial benefit that a new discovery of the kind of scale that we're going after is enormous." While such outcomes are rare in the mining industry, Chakana Copper's Soledad project demonstrates the geological potential to support such ambitious goals.View Chakana Copper's company profile: https://www.cruxinvestor.com/companies/chakana-copperSign up for Crux Investor: https://cruxinvestor.com

Interview with Mark Chalmers, President & CEO of Energy Fuels Inc.Our previous interview: https://www.cruxinvestor.com/posts/energy-fuels-nyseuuuu-diversified-critical-minerals-play-with-strong-balance-sheet-and-ramp-up-5789Recording date: 31st August 2024Energy Fuels, a long-standing player in the uranium industry, is embarking on an ambitious strategy to transform itself into a diversified critical minerals company. This 500-word summary outlines the key aspects of their evolving business model and the potential implications for investors.At the core of Energy Fuels' strategy is a pivot from being primarily a uranium producer to becoming a key player in the broader critical minerals space, particularly focusing on rare earth elements and medical radioisotopes. This diversification is designed to capitalize on the growing demand for materials essential to the clean energy transition and advanced technologies.The company's unique position stems from its expertise in handling radioactive materials and its ownership of the White Mesa Mill in Utah. This infrastructure gives Energy Fuels a competitive advantage, allowing it to process both uranium and rare earth-bearing minerals like monazite, which often contain uranium.Energy Fuels is actively pursuing acquisitions of heavy mineral sand projects rich in monazite. These projects, such as the Bahia project in Brazil, have the potential to produce substantial amounts of rare earth elements along with uranium. The company aims to position itself as a major Western supplier of rare earth elements, potentially rivaling the production scale of significant players outside of China.In the uranium sector, Energy Fuels maintains its strong position with three operating mines and plans to restart its mill for uranium recovery. This keeps the company well-positioned to benefit from an anticipated upturn in uranium prices driven by growing nuclear power demand and supply constraints.The company is also exploring opportunities in the medical radioisotope market, leveraging its expertise in handling radioactive materials to potentially enter the cancer treatment sector. This move could open up another revenue stream and further diversify the company's portfolio.Energy Fuels' long-term vision, as articulated by CEO Mark Chalmers, is to become a sustainable, dividend-paying company focused on critical minerals for the energy transition. This approach aims to create a more stable business model that can weather market volatility while capitalizing on multiple high-growth sectors.For investors, this strategy offers several potential benefits:Diversified exposure to critical minerals markets, reducing reliance on any single commodity.Potential for significant growth as demand for rare earth elements and other critical minerals increases.Established infrastructure and expertise providing a competitive advantage in processing complex ores.Maintained exposure to the uranium market, which many analysts expect to see price increases in the coming years.However, this strategy also comes with risks. The success of this diversification depends on effective execution across multiple fronts, requiring significant capital investment and management of complex market dynamics. The rare earth element market, in particular, is highly competitive and dominated by Chinese producers.Additionally, the company's performance will be tied to the broader adoption of clean energy technologies and the continued growth of nuclear power, which could be affected by regulatory changes, public perception, or technological disruptions.In conclusion, Energy Fuels' strategic pivot represents a bold move to position itself at the heart of the critical minerals supply chain for the clean energy transition. While the strategy comes with execution risks, it also offers the potential for significant value creation if successful. Investors considering Energy Fuels should closely monitor the company's progress in implementing this diversified strategy and its ability to establish itself as a key player in these growing markets.—View Energy Fuels' company profile: https://www.cruxinvestor.com/companies/energy-fuelsSign up for Crux Investor: https://cruxinvestor.com

Interview with Paul Barrett, CEO of Rome Resources.Our previous interview: https://www.cruxinvestor.com/posts/rome-resources-tapping-tins-tech-driven-potential-with-high-grade-explorationRecording date: 28th August 2024Rome Resources Ltd., an emerging player in the tin exploration sector, has announced encouraging results from its ongoing drilling program in the Democratic Republic of Congo (DRC). The company's recent press release highlights the intersection of significant tin mineralization, marking a potentially pivotal moment for investors eyeing opportunities in the critical metals space. While specific grades have not yet been disclosed pending laboratory analysis, the company reports visible cassiterite (the primary ore of tin) in drill core from their second hole. This early indication of mineralization has generated excitement within the company, particularly given the project's proximity to Alphamin's Bisie mine, one of the highest-grade tin deposits in the world. Paul Barrett, CEO of Rome Resources, expressed optimism about the findings: "What we've seen is very encouraging tin mineralization in the rocks. I mean, we can go into detail, but it's a good intersection of tin-only mineralization."Rome Resources' project is strategically situated in the emerging tin province of the DRC's Kivu region, just 8 kilometers from Alphamin's operations. This location, combined with the company's experienced team, positions Rome Resources favorably for potential discovery success. The exploration efforts are led by industry veterans Mark Gasson and Klaus Eckhof, who bring crucial experience from their involvement with Alphamin's initial exploration. Their familiarity with the region's geology and mineralization styles provides Rome Resources with a significant advantage in targeting high-grade tin deposits.In response to the encouraging results, Rome Resources is ramping up its exploration efforts. The company is mobilizing two additional drill rigs from Uganda, which are expected to be operational within days. This expansion will allow for a more aggressive drilling campaign, with the company targeting completion of a 3,000-meter program in the near term. For investors, Rome Resources presents an intriguing opportunity in the critical metals sector. The company's early exploration success, strategic location, and experienced team offer the potential for significant value creation if a major tin discovery is confirmed.Key points for investors to consider include the proximity to a world-class tin deposit, an experienced team with a track record of success in the region, an accelerating exploration program with potential for rapid news flow, strong macro fundamentals for tin driven by its use in electronics and green technologies, and the potential for Rome Resources to be valued similarly to Alphamin if exploration success continues. Paul Barrett highlighted the potential upside: "We would then hope to be basically viewed as on a par with Alphamin in terms of the asset. It's very similar geology, it's very similar mineralization play. And of course they're at a later stage in the game, but they are still a $1.4 billion Canadian market cap company, so, there's a lot of upside to what we're doing."While early-stage exploration carries inherent risks, the initial results from Rome Resources' drilling program suggest the company may be onto a significant discovery. As assay results become available and the expanded drilling program progresses, investors will gain a clearer picture of the project's potential. For those willing to accept the risks associated with junior mining stocks, Rome Resources offers exposure to a promising tin exploration play in a highly prospective region. With multiple catalysts on the horizon, including ongoing drill results and a potential resource estimate by early 2025, Rome Resources is a company that merits close attention from investors interested in the critical metals sector.—Learn more: https://cruxinvestor.com/companies/rome-resourcesSign up for Crux Investor: https://cruxinvestor.com

Interview with Martin Stein, CFO of Altech Batteries Ltd.Our previous interview: https://www.cruxinvestor.com/posts/altech-batteries-asxatc-powers-up-to-seize-the-future-of-the-grid-storage-revolution-5430Recording date: 27th August 2024Altech Batteries Limited (ASX:ATC) is positioning itself as a key player in the rapidly evolving battery technology sector, targeting two critical areas of the sustainable energy transition: grid-scale energy storage and enhanced electric vehicle (EV) batteries. With innovative approaches to both segments, Altech presents an intriguing opportunity for investors looking to capitalize on the global shift towards renewable energy and electrification.The company's flagship CERENERGY project focuses on sodium-chloride solid-state batteries for grid energy storage. This technology offers several advantages over traditional lithium-ion batteries, including longer lifespan, lower maintenance requirements, and improved sustainability due to its use of common table salt as a key component. The project's recently completed bankable feasibility study reveals promising economics, with projected annual free cash flow of €48 million and a net present value of €169 million at a 10% discount rate.Altech is actively engaging with German utility providers transitioning to renewable energy sources, positioning CERENERGY batteries as a solution for grid stabilization. The company has appointed KPMG to manage financing for the project and is exploring green bonds and government grants to fund the construction of a 120-megawatt-hour plant in Germany.Complementing its grid storage solution, Altech is also developing the Silumina Anodes project, which aims to enhance EV battery performance. This innovative technology involves coating silicon with high-purity aluminum to create a more efficient anode material for lithium-ion batteries, potentially increasing capacity by 30% compared to graphite-only anodes. A pilot plant in Germany capable of producing 120 kg per day of the Silumina Anodes material is currently being commissioned, with plans to provide commercial samples to major EV manufacturers and battery companies for testing.To fund the development of both projects, Altech is raising up to A$8.5 million through an entitlement offer, with A$5 million underwritten by a board member, demonstrating internal confidence in the company's prospects.While Altech's dual-project approach positions it to capitalize on two significant trends in energy technology, investors should be aware of the challenges and risks involved. These include the need for extensive technological validation, potential competition from established players and other startups, and the capital-intensive nature of battery technology development.The successful commercialization of either project could lead to significant revenue streams and establish Altech as a key contributor to the global sustainable energy ecosystem. The company's engagement with major industry players and its focus on addressing critical pain points in both grid storage and EV applications suggest a well-considered strategy aligned with market needs.For investors considering Altech, key factors to monitor include progress in customer testing and validation, particularly for the Silumina Anodes project, developments in the broader battery technology landscape, and the company's ongoing financing activities. As with any investment in emerging technologies, thorough due diligence and an understanding of the broader energy landscape are essential.As the world grapples with the challenges of climate change and the need for efficient energy storage solutions, Altech Batteries represents an opportunity to participate in potentially transformative developments in the battery sector, catering to both stationary storage and electric mobility markets.View Altech Batteries' company profile: https://www.cruxinvestor.com/companies/altech-batteriesSign up for Crux Investor: https://cruxinvestor.com

Interview with Shane Williams, President & CEO of West Red Lake Gold MinesOur previous interview: https://www.cruxinvestor.com/posts/west-red-lake-gold-mines-tsxvwrlg-resurrecting-a-high-grade-gold-asset-5502Recording date: 23rd August 2024West Red Lake Gold Mines (TSXV:WRLG) is positioning itself as a compelling investment opportunity in the gold mining sector, focusing on the restart of the Madsen gold project in Ontario's renowned Red Lake district. The Madsen project boasts a high-grade resource of approximately 1.7M ounces at 7.4 g/t gold. Located in a tier-one mining jurisdiction, the project benefits from existing infrastructure, including a processing plant and a 1,200-meter shaft, significantly reducing capital requirements for restart.WRLG's approach to revitalizing the Madsen mine centers on extensive definition drilling. The company has completed over 50,000 meters of drilling and plans an additional 50,000 meters. This high-definition drilling campaign, with spacing as tight as 6-7 meters, aims to provide a comprehensive understanding of the ore body, enabling optimized mine planning and operational efficiency.Initial production goals are modest but achievable, targeting 60,000-70,000 ounces of gold annually at a processing rate of 800 tons per day. This measured approach allows the company to establish consistent operations before considering future expansions.WRLG has raised $100 million to date and currently holds over C$40 million in cash. The company estimates needing an additional C$50-70 million to bring the mine back into production. Management is exploring various financing options, including potential royalty or streaming deals, to minimize equity dilution.Under the leadership of CEO Shane Williams, the company is taking a cautious and methodical approach to project development. This strategy aims to avoid the pitfalls experienced by the previous operator and aligns with current market expectations for disciplined capital allocation in the mining sector.The current strong gold price environment, with prices around $2,500 per ounce, provides a favorable backdrop for project development. The combination of high gold prices and the project's high-grade nature suggests potential for robust margins once production is achieved.Investment Thesis for West Red Lake Gold Mines are:High-grade resource in a premier mining jurisdictionNear-term production potential within 12-18 monthsExtensive de-risking through definition drillingExisting infrastructure reducing capital requirementsStrong gold price environment supporting project economicsExperienced management teamExploration upside and potential for resource expansionM&A potential as a future producing asset in a tier-1 jurisdictionInvestors should be aware of the complexities involved in restarting a previously operated mine and closely monitor the company's progress in completing its drilling campaign, finalizing its mine plan, and securing the necessary funding to restart operations. Successful execution of the mine plan and securing the remaining capital are critical factors. The project's history, including challenges faced by the previous operator, underscores the importance of careful planning and realistic expectations.West Red Lake Gold Mines presents an intriguing opportunity for investors seeking exposure to near-term gold production potential in a stable mining jurisdiction. The company's focus on de-risking the Madsen project through extensive drilling, combined with the advantages of existing infrastructure and a high-grade resource, positions it well for potential success. As the company progresses towards its production goals, it may attract increased attention from both investors and potential acquirers, potentially creating value for early supporters of the project.View West Red Lake Gold Mines: https://www.cruxinvestor.com/companies/west-red-lake-gold-mines-incSign up for Crux Investor: https://cruxinvestor.com

Helix Exploration is emerging as a significant player in the lucrative helium market, with two promising projects: Ingomar and Radiobriss. Industry expert Zac Phillips, an advisor to Oak Securities, views the company's prospects favorably given their current stage of exploration and development. The helium market is characterized by scarcity and high demand, with spot prices ranging from $1,000 to $1,500 per thousand cubic feet, significantly outpacing long-term contract prices.Helix is currently drilling at the Ingomar Dome prospect, with early reports of elevated helium levels described as promising, though not yet conclusive. The company boasts a core team with expertise in helium geoscience and commercials, led by David Bow, and efficiently utilizes consultants and services as needed. Market outlook remains strong, with demand expected to grow due to industries such as semiconductors, medical devices, and diving.As helium is considered a strategic mineral, Helix may have access to various financing options, potentially expediting development and production. If successful, the company could see first revenues within 12-24 months, a relatively quick timeline for the resource sector. Helix's expertise positions them well to acquire and develop smaller helium discoveries that may be stranded assets for other companies.Unlike some commodities, the helium market is not at risk of oversupply, and major oil and gas companies' involvement in helium production is limited, creating a niche for focused players like Helix. Oak Securities has set an ambitious target price of 93p for Helix, significantly higher than the current mid-20s price, indicating substantial potential upside.However, investors should note that success depends on drilling results and resource confirmation, and the company will need to demonstrate efficient extraction and processing to maximize margins. While market dynamics are favorable, commodity markets can be volatile.In conclusion, Helix Exploration presents an intriguing opportunity for investors seeking exposure to the helium market, with its focused strategy, experienced team, and favorable supply-demand dynamics creating a potentially lucrative combination. As drilling progresses and the possibility of near-term revenue approaches, Helix stands at a critical juncture where successful execution could lead to significant value creation for shareholders while contributing to the supply of a critical resource for various high-tech and medical applications.

Interview with Peter Akerley, President & CEO of Erdene Resource Development Corp. Our previous interview: https://www.cruxinvestor.com/posts/rio2-tsxvrio-and-erdene-resource-development-tsxerd-nearing-gold-production-milestone-5653 Recording date: 19th August 2024 Erdene Resource Development (TSX:ERD, MSE:ERDN) is on the cusp of transforming from an explorer to a gold producer, offering investors exposure to a high-grade, near-term production opportunity in Mongolia's emerging Khundii Gold District. The company's flagship Bayan Khundii Gold Project is advancing rapidly, with construction approximately 40% complete and on track for first gold production in Q2 2025. Key investment highlights include: High-Grade, Low-Cost Operation: Bayan Khundii boasts an average head grade of 4 g/t gold, positioning it as one of the highest-grade open-pit gold mines globally. With projected all-in sustaining costs of $870 per ounce, the project offers strong margin potential in the current gold price environment. Near-Term Production: Initial production is estimated at 85,000 ounces of gold per year for the first six years, with a seven-year mine life based on current reserves. However, significant exploration potential exists to extend the mine life and potentially increase production. Strategic Partnership: Erdene has partnered with MMC, Mongolia's largest private mining company, which has contributed $120 million in funding and brings valuable in-country expertise. This partnership de-risks the project development and provides a platform for future growth. Exploration Upside: The company has identified nearly 2 million ounces of gold equivalent resources across multiple deposits in its 700 square kilometer land package. Recent drilling has intersected high-grade zones near the current pit, suggesting potential for resource expansion and grade improvement. Growth Strategy: Erdene aims to double production to around 150,000 ounces per year within the first few years of operations by optimizing Bayan Khundii, developing satellite deposits, and potentially building a second standalone operation. Strong Financial Position: With MMC funding the majority of development costs, Erdene is well-positioned financially. The company expects to generate significant cash flow once in production, providing flexibility for future exploration and potential shareholder returns. Favorable Macro Environment: The project benefits from the current strong gold price environment and increasing interest in frontier mining jurisdictions as traditional areas become mature. Investors should be aware of potential risks, including country risk associated with operating in Mongolia, single asset risk during initial production, and general mining sector risks such as potential delays or cost overruns. However, the maturing of Mongolia's mining sector and Erdene's partnership with a major local player help mitigate some of these concerns. As Erdene approaches key milestones such as construction completion and first gold pour, the company may see a re-rating in the market. The significant exploration potential in the Khundii Gold District also provides longer-term upside for investors. CEO Peter Akerley summarizes the opportunity: "I've been at this for 35 years, and I haven't seen the prospectivity we have in this part of the globe. For us to have discovered four deposits in a short period of time, three of those sitting at surface, never having really spent the time or had the resources to do deeper exploration, I'm tremendously excited about what else is going to happen here." For investors seeking exposure to a near-term gold production story with significant exploration upside, Erdene Resource Development presents a compelling opportunity to participate in the development of a new gold district in an emerging mining jurisdiction. View Erdene Resource Development's company profile: https://www.cruxinvestor.com/companies/erdene-resource-development Sign up for Crux Investor: https://cruxinvestor.com 

Interview with Dan Wilton, CEO of First Mining Gold Corp.Our previous interview: https://www.cruxinvestor.com/posts/first-mining-gold-tsxff-de-risking-multi-million-ounce-tier-one-canadian-gold-assets-5126Recording date: 20th August 2024First Mining Gold (TSX:FF) is strategically positioned to capitalize on the current strength in the gold market, with two large-scale development projects in tier-one jurisdictions. CEO Dan Wilton recently discussed the company's prospects, highlighting the advancing Spring Pole project in Ontario and the broader gold market dynamics.The flagship Springpole project is nearing a crucial milestone, with the final Environmental Assessment (EA) submission targeted for October 2024. Wilton emphasized the project's robust economics, particularly in the current gold price environment: "At $2,500 this is a shoot the lights out economic project with all-in sustaining costs that are benchmarked in the lowest quartile of the industry in a tier-one jurisdiction that is capable of producing 300,000 ounces plus a year."Recent M&A activity in the gold sector, such as Goldfields' C$2.1 billion acquisition of Osisko Mining, provides a valuable benchmark for First Mining's assets. Wilton noted, "5 million ounce plus gold projects in Canada are the most strategic and sought-after gold projects in the world, and when they get acquired they get acquired at significant values and we've got two of those in our portfolio."The gold market's strength, driven initially by central bank buying and more recently by renewed interest from North American investors, enhances the appeal of development-stage projects. Wilton pointed out a potential opportunity: "You've got it broadly a basket of gold developers that's still sitting down down on the year you know down certainly over a two-year time frame that we kind of charted in our investor deck down 50%." This disconnect between gold prices and developer valuations could present an attractive entry point for investors.First Mining is open to strategic partnerships, particularly for the Spring Pole project. Such a partnership could provide technical expertise, development capital, and potentially trigger a market re-rating of the project's value. The company is approaching several key catalysts that could drive value:Submission of the final EA for Spring Pole (October 2024)Progress towards EA approval (targeted for end of 2025)Potential strategic partnership announcementsAdvancement of the Duparquet projectWilton argues that First Mining's current market valuation significantly discounts its assets' potential value: "I would assert that it's not worth $6 an ounce anymore as it's trading out in the market today I would assert that it's worth something a lot more like the $200 an ounce that Goldfields just paid for Windfall."The broader gold mining industry faces challenges with depleting reserves and a lack of new discoveries, potentially driving M&A interest in companies with large, development-stage assets. As Wilton stated, "This development sector is going to be a core core focus I think for the industry and it's a great opportunity for investors to get in ahead of that realization right now."In conclusion, First Mining Gold offers investors exposure to large-scale gold development projects in a favorable price environment. With key milestones approaching and potential for strategic partnerships, the company could see significant value realization in the near to medium term. However, investors should carefully consider the risks and monitor the company's progress in advancing its projects and securing necessary funding.View First Mining Gold's company profile: https://www.cruxinvestor.com/companies/first-mining-goldSign up for Crux Investor: https://cruxinvestor.com