Automated transcript · Written by software from the replay's audio. It can mishear names and figures; the replay is the record.
0:55 to speak with you. I hope that you have a great time during the conference and that you leave feeling inspired and informed. Thank you for being here today and for joining us on our mission to unlock social mobility on a global scale by empowering anyone from anywhere to invest in anything. Hi my name is Bianca Pichola, I am the Chief Revenue Officer and Co-Founder here at SIXX. Our vision is to unlock social mobility on a global scale by empowering anyone from anywhere to invest in anything. A few years ago, myself and my co-founder Daniel noticed a shift towards more self-directed investing. Platforms like Wealthsimple, Equestrade, and Robinhood were becoming increasingly more popular. At the same time, we're also seeing community-driven platforms where investors can come together and discuss their next investment decision were also rising in popularity. In the metals and money space, that includes places like CO.CA, Stockhouse, Hot Copper, and more.
1:47 We became very curious to learn more about how investor relations teams and issuers would respond to this shift. And what we noticed was 2 distinct cohorts of companies. The first cohort of companies were folks who were kind of sticking to the status quo, connecting with investors in the same way that they've had in the past, conferences, roadshows, lunch and learns, and so on. And this new cohort, they're doing those things too, and I think that that will still be a big part of the strategy for at least the foreseeable future. But they were also looking to find ways to integrate within these communities, have one-on-one connections with these investors, and to learn more about why these platforms and these communities are so special and how could they take part in that. And it's our perspective that the folks who are thinking about these self-directed investors now are going to outperform their peers as this shift continues over the next 5 to 10 years.
2:37 And so knowing that we saw this as being the ultimate promised land, the way that the world was headed, and we ultimately want to be part of that which is why we built these 6 Investor Experience Platform. There are multiple different modules and pillars to what we do, but at core, there are 3 main driving intentions behind our platform. There's access, giving investors better access to issuers and vice versa. There's coverage in terms of the development of content materials about these companies. And ultimately there's community, which are the relationships built through this platform between the issuers and the investors. Insofar as how it works, investors can discover companies that they're interested in on 6. They're able to register for live and on-demand events. They then will be able to attend and interact with other investors in real time.
3:25 They will be able to sign up for updates for the companies that they're interested in. They would then get recommendations for other speaking opportunities where they can check out other issuers and other companies and the wheel would spin and spin and spin and the community around the issuer would ultimately grow as a result of that. We are really excited to be able to present MIX as an opportunity for issuers and investors to come together. Again, I know it's been a long time with COVID and the myriad of other things that have kept us apart, but really looking forward to hearing all the wonderful presentations from these issuers and also hearing thoughts from the investor audience and looking forward to seeing this community continue to strengthen and grow. Thank you. Hi everybody, thanks for checking in.
4:13 As you may know, I'm Don Baxter. I'm the CEO of Solong Graphite. I've been here for a little over a year, looking to develop our Sri Lankan graphite deposits, as well as building out the battery side of things, where I think the most interest in is for graphite is coming from batteries. So I'm going to give you a quick rundown, supposed to be 6 minutes or less. So I can talk about graphite in general, batteries, I'm going to talk about the geopolitical situation in Sri Lanka, and I'm also going to talk about our UK, more technical battery side of things, where we're focused. So I'm just going to start off with graphite in general, and it's becoming more and more known, let's just say, people are talking more about graphite, when they talk about critical supply materials for batteries, used to be lithium, used to be Cobalt, Nickel. Now finally Graphite being the anode of the batteries becoming more and more prevalent and understood more perhaps. Graphite was kind of overlooked. There was a big push to graphite in 2012, probably 100 companies chasing after it and batteries were still pretty new on the horizon.
5:26 So with that, it's understandable that it's taken a while for people to realize what graphite is. So I think the timing for Solong Graphite is perfect. We did get an earlier start, but since I've taken over, I think we've put a push on for batteries. We're probably the first to make battery-grade anode graphite for the lithium-ion battery, tested the batteries, also do some enhancements. But the one thing that's driving us from a business model standpoint is to mine graphite at Sri Lanka, but yet not necessarily sell, run and mine graphite. Overall, we wanna sell battery level anode graphite. The margin is much higher with that. And secondly, that's what the demand is coming. There's a huge demand coming for graphite for batteries, be it synthetic, natural graphite, and the 2 categories are vein and flake. Flake by far will be the largest, but Sri Lanka at one point had 3000 mines running and we're looking to have a fraction of that, but we're basically looking to revive an industry.
6:29 And as I said earlier, we're probably the first to have made anodes with Sri Lankan vein graphite. The graphite itself is extremely good. It does have a higher degree of crystallinity than flake, so we are seeing excellent results. We're hoping that will get us into some niche markets where maybe 300,000 tons a year are required, but 50, 60, 70,100,000 tons are required in some multiple markets. So in that regard, we are talking to OEMs. They're talking to us. It's amazing to see that, you know, I've said before, we're having conversations with OEMs that we never would have had a year ago. They're coming up with supply chain. We are centric a little bit in the UK, and we're actually working on a couple of, because of that, we're looking on a couple of relationships there as potential funding joint applications on some research work and development work. So that in and of itself is pretty exciting.
7:27 And we do know that the world needs by 2030, about 4Mt of processed Graphite. That in and of itself is going to be a big driver for what we're doing. We're focused on that, we're excited about that, and we're going to keep driving towards that goal as we develop more and more mines in Sri Lanka, but also as we build out our battery processing capabilities in the UK. Now, secondly, I know there's been a lot of talk about Sri Lanka and the recent geopolitical issues. I'm just back from Sri Lanka. I was there for a month. And compared to when I was last there in June, I'm seeing tremendous improvement of situations. There's no more fuel queues. They still have shortages. They're not full, abundant of fuel, but they no longer have the endless queues and 0 supply.
8:17 They do have a QR code system where they're allowing people to purchase smaller quantities of fuel and spreading it out more. They have full amounts now of cooking gas. That was an issue. Petrol and diesel again are now readily available. Never really was an issue about us, but we're coming on pretty strong and we're getting some higher levels of support and interest in what we're doing. So, and basically again, there are other aspect of things we're looking at is what we're doing in the UK. So we're trying to develop an industry there, along with the rapid expansion of the battery business in the UK, that's really sped up after the Brexit situation.
9:04 So there's 2 or 3, at least, on the books, gigafactories being built in the UK, companies like British Fold and Western Midlands. So we continue to work with our own facility, but we also work with Warwick Innovation Center or Warwick University and UCL in London to further develop our basic baseline anode graphite as well as our silicon enhanced aspects of things. So we're really looking into that aspect and expanding our capabilities there and again attracting more and more interest from the battery manufacturers. That's what it's all about and then Solong Graphite is well positioned. Timing I think is pretty much perfect to where we're finally being paid attention to. So with that, I'll wrap up and look forward to the next update.
9:58 My name is Eric Zontrub and I'm the CEO and Chair of GR Silver Mining Limited. The ticker is GRSL on the TSX Venture and GRSLF on the OTCQB. Thanks for tuning in today. This may be an important entry point for silver exposure. As a precious metal, silver tends to be more volatile than gold, outperforming gold on the upside. As US Fed rate increases slow, we could see precious metal performance strengthening. As an industrial metal, silver industrial demand will have increased by about 20% over the last 9 years, while mined production plus recycling have stayed flat. The increased use of photovoltaics in solar panels has driven industrial demand, representing now about 12% of total silver demand for the year.
10:47 Market balance for silver has tipped into deficit for 2021 and 22, and global physical inventories have fallen significantly. Consequently, 2023 is shaping up to be a quite positive environment for silver pricing and silver equity valuations. Now I'm originally a geologist, but I spent 34 years as a mining analyst focused on exploration and development companies. In looking for superior companies in that space, I relied on the 4 P's, place, project, people, and price. At GRSilver, we're focused on the Plumosis project in Sinaloa State, Mexico. Mexico is the number 1 silver jurisdiction globally, supplying 197 million ounces of silver in 2021, or 24% of global mined production.
11:36 We're located a couple of hours drive southeast of the resort city of Mazatlan, with easy access by road through the historic mining district of El Rosario. Not only is access excellent, infrastructure is also superb, with grid power direct to site and a workforce with mining in their DNA. The Plumosis Project covers 430 square kilometres and around 75 kilometres of strike length of key northwest structures that host important deposits along the Sierra Madre Occidental. The project hosts 2 former producers, the Plumosis Lead Zinc Mine, which operated from 1986 to 2001, and the Trinidad open pit heat leach oxide gold mine originally operated by Eldorado Gold.
12:26 These valuable mining concessions are still valid. Within this vast project we're focused on 2 areas the Plumosis Mine area and the San Marcial area about 5 kilometers to the south. Our geologists have done a great job peeling the geological onion, focusing on high-grade precious metal mineralization, predominantly silver, at both locations. At San Marcial we've discovered the depth extension to an existing 2019 resource with intercepts including 773 grams per tonne silver over 18 meters and the New Southeast Area Discovery where we hit 101.6 meters averaging 308 grams per tonne silver. In both areas, we see multiple high-grade intervals, well over 1,000 grams per tonne silver.
13:14 At the Polymetallic Plumosis Mine Area, we have enjoyed the benefit of 7.4 kilometers of underground development to conduct the surgical infildral program. This program is showing that grades can be substantially higher than those reported in our 2021 resource estimate. In addition, our geologists have discovered the importance of cross-cutting structures in delivering higher grade precious metal mineralization, like 44 and a half meters intersected, averaging 518 grams per tonne silver equivalent. We have 5 rigs turning as we speak at San Marcial and Plumosis with assays to come through the end of the year and into January. All of this drilling is leading to the primary catalyst for GR silver mining in the first quarter of 2023, the delivery of a mineral resource estimate update for the Plumosis project from both the Plumosis mine and San Marcial areas.
14:12 We are really excited to see the impact of the excellent intersections we've been reporting through 2022. It's essential to have the key skill sets in management to advance and de-risk projects of the scale of Plomosis. Marcio Fonseca, our president and chief operating officer, is the founder of the company, and credit goes to Marcio for having the vision to create this land package. Marcio and Trevor Wolf, our VP Exploration and Corporate Development, are making the magic happen in Mexico and it's my job as CEO to make sure they have the resources that are needed. On the board I'd highlight Laura Diaz, a Mexico City based mining lawyer and former Director General of Mines of Mexico. In addition, Jonathan Rubenstein, the former chair of MagSilver, was arguably the most important silver discovery in Mexico over the past 20 years.
15:04 Let's speak of price or valuation. Shares of silver is currently trading at 64 cents US per ounce in the ground. Our immediate peers are trading at a mean of around $2 per ounce. That's a significant discount. We will deliver our updated mineral resource estimate in the first quarter of 2023 and it's our hope that the total ounce count will increase as will the average grade relative to our previous estimates. It's our thesis that a significant re-rating may occur as a result. Thanks again for tuning in today and hearing a bit about GR Silver mining. We believe that this is an excellent time to position in silver space and that GR silver has the key attributes, the 4 Ps, to provide exposure to silver exploration and development. We really look forward to the 6th MIX conference and your participation.
15:58 Hello everyone, my name is Ian McMullen. I'm the chief operating officer for Arizona Sonoran Copper Company. I just want to take a few minutes of your time today to talk about our 100% owned flagship asset called the Cactus Mine, which is located just outside the city of Casa Grande within Pinal County and certainly the great state of Arizona. The Cactus Mine is a brownfield exploration and development project, certainly in a Tier 1 jurisdiction such as Arizona. And it's a past producing mine. A Sarko operated the property, then known as the Sacketton Mine between the period of 1974 and 1984, mining copper ores from an open pit that still sits there today, and turning those ores into a copper concentrate via the flotation mill right at site.
16:51 Because of that, we also enjoy significant in-place infrastructure. That includes water wells, a substation capable of supporting a mill, as well as a now inactive rail spur. Since Arizona Sonoran took over the site, we've certainly been busy trying to build scale and growth. And that involves a number of known as well as exploration targets on the site that span a 4 kilometer strike length. That 4 kilometer strike length basically extends from the northeast corner of the property down through the southwest corner of the property. And includes Cactus East, Cactus West, and Park Salyer, as well as the Northeast Extension, which we hope to drill on in 2023.
17:45 If you recall, in September of this year, we issued a maiden Park Sallyer resource that totaled 2.9 billions of copper in the inferred category. So take those numbers and talk to, you know, what we sit with, with respect to a current mineral resource, it's definitely not insignificant. You know, we see 1.6 billion pounds of indicated resource at the moment, as well as another 4.9 billion pounds of inferred resource. Lots more left to do there, but certainly building something that has scale and a long runway in front of it. As I mentioned earlier, our property, which is about 4,800 acres of land, is 100% owned.
18:34 It's all private. So what that means is we can do things from a permitted permitting permitting perspective, apologies, that you wouldn't otherwise able to do on public lands. Permitting is never simple, but I think it's simpler when you're on private land. And further to that, we received a non-jurisdictional determination decision from the Army Corps of Engineers earlier this year. And what that means is we have no federal nexus. So all our permitting is at either the county or state agencies, if you will. Speaking of permits, we have a number already in place. We have our water permits. We have our aquifer protection permit. We have a dust permit for daily activity at site, as well as a stormwater pollution plan permit.
19:27 And a couple of major permits coming our way that have already been submitted to the respective agencies or Red Mine Land Reclamation Permit, as well as the industrial permit that reflects all emittable sources at the site. The Cactus Project currently is built upon a proposed copper heat bleach and SXCW configuration. In 2021 we put out a preliminary economic assessment based on that. That reflected an 18-year life of mine plan, about 1 billion pounds of copper produced or about 56 million pounds of copper per year. And that ended up being showing some pretty good robust economics. At a U.S. Copper price of 335 per pound, we saw a post-tax NPV of about 312 million and a post-tax IRR of 33%.
20:20 So taking those PEA fundamentals, we look to include Park Salyer in that PEA work and combined with the existing cactus deposits, put out an integrated PFS sometime in 2023. You know, we have experienced leadership team in place to do all this work. We've been doing a lot of scale and growth as I already mentioned, and we have a lot of strong, supportive sponsors. So the right people and framework are in place to carry this thing forward. And then finally, you know, copper fundamentals are certainly supportive at the moment. They'll continue to be for the long term. If you look at the macroeconomics of the world.
21:07 And further to that, we want to be a clean producer. So we very much put a ESG framework in place early. And we're developing a path to net 0 as part of our copper production plans. So, you know, from my point of view, having been with the company now almost 4 years, we started small, we're starting to walk and pretty soon we're going to run here. And the fundamentals are in place to make Arizona Sonoran a very compelling value. ♪♪ ♪♪ Hello, my name is Derek Iwanaka, I'm Vice President of Investor Relations and Corporate Development here at B Metals. And B Metals is the latest company to spawn from the same group of core founders, investors, that created both BIMA Gold Corporation and B2 Gold.
22:15 As you know, mining is a very risky business, so it's absolutely critical that you have the best team to mitigate those risks and build shareholder value. And I think there are very few teams that have generated more wealth for their shareholders and helped investors pay off literally car loans, mortgages, and even retire early. In my 20 year career, I have never been part of a more successful group and it's exactly why I joined. And so we are really led by some of the top finders, operators and builders who have collectively had tremendous success. Collectively our team is responsible for the discovery of more than 34 million ounces of gold, 56 million ounces of silver and 6 billion pounds of copper.
23:03 And production success, again, the group collectively has produced over 8.3 million ounces of gold and have generated over 10 billion dollars in gold revenue, that's US dollars. And just our group, just with B-Metals alone, we have great access to capital, which includes, so far we've raised $31 million for the exploration and development of our properties. But collectively, the team has raised in excess of 3 billion US. That's for construction, acquisition, and operation of 10 global mines. So right now, B-Metals, our portfolio includes portfolio projects, which probably the most important one right now would be in Japan.
23:52 In Japan we've secured prospective rates for 5 gold projects. The most important one that we're drilling on right now is called Kato. It's in the far north in Hokkaido, and we're currently drilling there. Through that acquisition in Japan, B2Gold became a major shareholder of ours. So they currently own 9% or 19% of our shares. And so far, the drilling results have been very promising, and we intend to build upon that success in 2023 with additional drilling results. And we've actually increased the program to 2000 metres going into next year. Our portfolio also includes our Pingeni copper exploration property that sits on the western extension of the Zambian copper belt where there's many world-class copper mines. Our property in particular has a very thin veneer of Kalahari sand cover so it makes it much easier for us to do exploration.
24:55 If it wasn't for the thin cover typically it would be very thick up to say 100-150 meters of sand which would cover the bottom base geology. In our case it's very thin. We use air core drilling to do our exploration work and then we follow up with discovery or hits of copper with core drilling. And that's exactly what we're doing right now. So we are currently drilling about 1400 to 1500 meters of core drilling in Zambia as we speak. That will be completed before the end of this year. And then sometime early in 2023, we will have additional drill results from Zambia. So very exciting in Zambia, also in Japan. We're gonna have more results coming out from both properties.
25:45 And I hope you'll join us to learn more. This is just a fairly short summary, but I encourage you to visit our website. It's www.bbendelscorp.com. Thanks a lot. Hello, my name is David Christie, and I'm the President and CEO of Orford Mining Corp. Orford is a well-funded gold exploration company with huge nickel optionality. Orford is a five-year-old public company that was founded on both high-grade nickel sulfides as well as high-grade gold projects in the Raglan Belt of northern Quebec. We also have projects in the Châtel region of the Abitibi, a very prolific belt in Canada. In total, we have over 1400 square kilometers of land in 3 different project areas that are 100% to Orford's or option to earn 100%.
26:35 The founding piece of the company was over 700 square kilometer piece of land called West Raglan. It is 90 kilometers to the west of the Raglan Nickel Mine that is operated by Glencore. This is probably one of the lowest cash cost nickel producers in the world. It has very high grade nickel copper mineralization across the property. It's over 700 square kilometers of land. We have discovered showings that are over 3% nickel, over 1% copper, and 3 to 4 grams platinum palladium, as well as some cobalt. We believe this project is moving into the limelight now as the battery group metals have become a very desired commodity to help feed the electric vehicle market.
27:21 And we think that's going to continue. This project, we in 2021, we brought Wailu Metals from Australia in to earn up to 80% of this project. They have to spend at least $25 million and complete a bankable feasibility study to earn that 80% and make a cash payment. At that point in time, the JV would be formed. This past year, we completed a nine-hole drill program on the project. We're awaiting on those results as we speak, but visually we hit nickel sulfides in some of those holes. So should be some exciting numbers that come out of that. Perhaps the most exciting gold piece of the company is a project called Kigavik. It's sitting just about 30 kilometers to the north of our West Raglan project. It's a very high-grade gold project with over 40 kilometers east to west, over 300 square kilometers of land. It's 100% orpherds as well. We've had several drill programs on the project.
28:17 We have high-grade boulder trains, dispersion trains across the project. We now believe, based on a glacial expert interpretation, that we need to drill right on top of these boulders and that they have moved very short distances from where they were taken originally by the glaciers. In 2023, we completed a 14-hole drill, sorry, 2022, a 14-hole drill program. We had some very good results, discovered some quartz carbonate gold mineralization across the property, and so we're very excited about that. In 2023 we're going to work on drilling more targets using RAB or RC drilling and using the methodology of drilling right underneath the boulders that to create up to 648 grams per ton at surface and many well over 100 grams per ton. So we have some very good golden diamond on this project.
29:05 It's never been explored before we were there. So it's brand new exploration. There's no exploration history. We don't have 30 years of exploration history like most of the Abitibi, most of Canada. And to date, We've only spent about 40 weeks in the ground, so it's very early days here. We believe we have a new gold camp here with good potential. Perhaps the last but not the least is our Jatel area project. We're about to start a drill program there this winter. We're drilling the south gold zone on our Jatel Eagle project. This sits right next door to the Agnico Eagle, Eagle Tell Bell mine, which was their original gold asset, and original gold producer. And we're sitting right next door to it. We have the same mine horizon cuts through our property, but we also have a large disseminated mineralization package, which no 1 really sampled much before. And so that's where we're going after. We're looking for at a over 1 gram near surface mineralized body that's up to 28 meters, 30 meters, 46 meters thick near surface. And so that's what we're going to try to show continuity in this winter with a drill program of at least 2000 meters.
30:06 So that's the plan in the next few months as we move forward. And so Orford as of September, we had over $3 million in the bank. We have 164.5 million shares outstanding in the current market. And Alamos Gold is a 25% shareholder and a very big supporter of our financings. In summary, Orford is a well-financed gold explorer with a strong nickel optionality. We have 2 gold projects which are both at drill stage in underexplored areas of Quebec. We believe that we have the potential for multi-million ounce gold deposits. Orford has good people that make it happen. We have very strong staff. And we work in Quebec, which is one of the best places in the world to work for mining exploration. If you have any questions about Orford or you want more information, please go to our website, orfordmining.com.
30:59 Hi, my name is John Black. I'm the CEO of Aldebaran Resources. Aldebaran is a Canadian TSX Venture listed company that's currently exploring the very exciting Altar Copper Gold Project in San Juan province of Argentina. If you're looking for an excellent opportunity to benefit from the copper boom that's on the horizon, this is a story I think you really want to pay some attention to. I'd like you to leave with 3 key takeaways from the short presentation today. The first is that we're a very experienced team. We've made major discoveries of copper deposits in the past as junior companies. We've drilled those out and successfully sold those to a major mining company. So we've executed our business plan successfully before, and we believe we're well-positioned to do that again with Aldebaran and the Altar's discovery. The second takeaway is that We already have a very substantial deposit at Altar. We have a lot of drilling from our predecessor companies that have explored on the project and a large resource in hand, but reason to believe that resource has potential to increase notably as we continue to drill and we're actively drilling right at this moment. It's also a very good time to have a project like this.
32:03 There's an increasing shortage of copper deposits right at the time we're seeing a strong increase in demand as we see copper have such a fundamental role in the electrification of many aspects of our lives as we move towards a lower carbon economy, a green economy moving forward. And we're also in a very good location. The San Juan province is a hotbed for copper exploration right now. There are a lot of major copper discoveries and projects in our neighborhood, And the San Juan government is strongly encouraging us to work and providing an excellent opportunity. So a great project at the right time and in the right place. And then the third point on this, it's very important as investors, is that we're substantially undervalued for the discovery that we already have in hand, in particular for the potential that it has to move forward. We have a market cap of a little over $100 million right now. Nice market cap, but that's quite low compared to the deposit we have in hand and the potential that we see in the future. So we'll touch on that as we move forward. So let's dive into each of those points just a little bit more deeply. I mentioned we're an experienced team.
33:08 Aldebaran is actually the third company with our same management team. Our first company was called Antares Minerals. We had the good fortune to discover and drill out the Hakir deposit in southern Peru, which we sold the 1st quantum for $650 million in 2010. From that, we spun out Regulus resources where we're currently drilling on and exploring the very interesting copper gold deposit called Anticori in northern Peru. And then we spun out Aldebaran from that to capture the Altar opportunity Argentina that we're talking about in this presentation. So we've done our, we've executed our business plan before. Our plan is to identify these large copper and copper gold opportunities, the type of deposit that would be of interest to a major mining company, drill those out, de-risk them through approximately the PEA to pre-feasibility stage, and then ideally sell those to a major mining company for an earlier return to our shareholders and then move to the next project to attempt to do that again.
34:03 I mentioned that we have a large resource already in Altar. So let's take just a quick look at what I mean by that. We have over 100,000 meters of drilling on the project between ourselves and predecessor companies. That allows us to define 622 million tons of measured resource at a 0.44% copper grade with substantial gold and silver byproduct credits. We also have an additional 576 million tons of indicated resource at 0.42% copper equivalent and gold and silver credits to that. So if we combine measure and indicated that's approximately 1.2 billion tons at about a 0.43% copper grade with substantial gold and silver credits. To put that in perspective, that's 11.3 billion pounds of copper in situ and 3.4 million ounces of gold in situ. That measured an indicator of relatively high confidence in that resource estimate. And we have an additional 189 million tons of inferred resource at a slightly lower grade. So very sizable deposit already in hand with potential to grow. Why do I, why are we so excited about that potential to grow? As we were drilling last year, we received the results of a new technology, a deep looking 3D IP resistivity survey that allows us to image the mineralization. And we got an outstanding correlation between the anomalies that we identify in this survey and the known mineralization.
35:28 And it indicates that there are very significant portion of the anomaly that's not been drill tested. So that's what we're focusing our drill program on. We have 3 rigs going right now and over the course of the next few months we think we'll be able to produce results that show that we're substantially increasing the size of the deposit to move forward. And then let's touch a little bit on that final point of undervaluation of the project. As I mentioned, we have a market cap of slightly over 100 million dollars right now. We have 3 major investors. Route 1, a fund out of San Francisco that has about 44% of the company. Sabania Stillwater, the group we're earning into the project with has just under 20% of the equity of the company. And we recently received a nice investment from South32, a strategic placement that provided the funds for us to drill this year. So between those 3 major investors and management ourselves. Over 75% of the company is tied up, leaving relatively small float and great potential for the project to move forward. Our current resource is valued at less than a penny a pound in the ground. And we see these projects typically sold for 4 to 5 cents per pound in the ground when they're sold. And we have potential to grow the size. So a lot of leverage for multiple increase in the market cap of the company moving forward for the investment and benefits of our investors.
36:46 A lot of information on our website. You can find more information there. Please do not hesitate to contact us. We'd love to hear from you. Keep an eye on this. Hello, everyone. My name is Oliver Turner, and I'm the Executive Vice President of Corporate Development and I'm here to tell you why you should be investing in Karora Resources. Karora is focused in Western Australia. We are a Western Australian gold producer producing significant cash flow from operations from 3 operating centers in the Calgorlie Belt. For those of you not familiar with the Calgorlie Belt is the most prolific gold mining belt in all of Australia, and we own a very large component of it. Our 3 operating centers are the Beta Hunt Mine, the Higginsville Mines, and the Spargos Gold Mine.
37:38 The Beta Hunt Mine was historically a nickel operation for 30 years. As of 2016, we have been mining gold and now, again, nickel from it. It is a single decline underground mine, mining from very large open stokes underground. And we are going to be expanding that operation. I'll talk about the numbers a little bit later, via the addition of a second decline, which is almost as we speak right now in November of 2022, complete. Our second operating center is the Higginsville Center, which is a series of open pits and underground mines which feed our centralized Higginsville mill. Our Scargos high-grade open pit mine, which will eventually be a high-grade underground mine as well, is also feeding that Higginsville mill. The Higginsville mill has 1.6 million tonnes of capacity and we recently acquired a second mill called Lakewood that has 1 million tonnes of capacity.
38:30 So we have 2.6 million tons of milling capacity in the most prolific gold belt in all of Australia. Certainly an enviable place to be. In terms of numbers, we are going to be growing from about 120,000 ounces to 135,000 ounces of gold this year, to approximately 180 to 200,000 ounces of gold over the next 2 years. We will also be increasing our nickel production underground at Beta Hunt from 450 nickel tons to approximately 2,000 nickel tons over the next several years, which will provide a tremendous byproduct credit for us. Now, notably on the nickel, and we have very, very high grade nickel, we have 30,000 nickel tons, and historically at Beta Hunt, 66,000 nickel tons were mined over 30 years. So it gives you some context of the scale we already have, but the grade of that nickel is 2.7% in nickel sulfides, which is fantastic.
39:22 BHP has their concentrator right next to Beta Hunt, and they take the ore right off of our surface. So we do not actually have to process that nickel ourselves. We get paid for the metal content, which feeds nicely into that by-product credit. At Higginsville, we control over 1,900 square kilometers of tenements on the Kalgoorlie Belt, which covers the Zaluka Shear that hosts all of the giant deposits of Western Australian mining, the Golden Mile, 60 million ounces, St. Ives, which is right next to us, 14 million ounces, Pantoros Norisman, which is 6 million ounces just to the south of us. We have the largest covering of that entire belt, more than any senior gold producer, and it's in the hands of Corora shareholders, which is a fantastic exploration place to be. So what you're buying when you buy Corora stock is a cashflow generating story that is financing its own gold and nickel growth story from those cash flows and are healthy cash level on the balance sheet. I'll emphasize that once again, we are fully funded and self financed in terms of that growth plan. And we are located in the best jurisdiction in all of Australia in which to mine. And we have the largest coverage of land on the major trend there.
40:38 So it's a great place to invest, low risk, top jurisdiction, excellent management team that's grown companies before in a similar fashion, gold growth, nickel growth, and unlimited exploration upside. So hopefully you'll be a core shareholder soon. Thank you. I'm Mark Jarvis, CEO of Giga Metals Corp, And I'm here to tell you about our company in 6 minutes or less. So here we go. I guess the most important thing that's happened to us in the last year is that we concluded a joint venture with Mitsubishi Corp. Mitsubishi bought a 15% interest in our Turnagain project, a giant nickel and cobalt sulfide project in the north central part of British Columbia.
41:30 They paid $8 million for a 15% interest. And we're using that money to advance the project to the pre-feasibility level. It's quite interesting in that Mitsubishi is a very sophisticated investor in mining projects. They've got a model where they like to get involved with minority interest and help to get the project built. They don't want to operate. They want obviously as much of the offtake as they can get, but that's their model and they've done it very successfully. And they've got minority interests in operating mines, large operating mines all over the world. So that's a real vote of confidence. And by the way, they've let us know that they looked at, once they decided to get involved with Nickel, they looked at 26 different greenfields projects worldwide, and they selected our project.
42:30 And I think that's for a number of reasons. One is that we're in Canada, which is an excellent jurisdiction, rule of law, but also there's quite stringent environmental regulations in Canada. And Mitsubishi actually likes that. You can get permits. You can get a large project built, but it is not trivial. However, a buyer of nickel and cobalt from a Canadian project can be satisfied that they are sourcing their materials ethically. Related to that is that we think we can be a carbon neutral project. Our tailings will absorb CO2 from the atmosphere. We've been studying this with Dr. Greg Difflett at the University of British Columbia. He's developed a methodology to quantify how much CO2 is being absorbed by the tailings, and it is significant.
43:25 So those are all good reasons for Mitsubishi to be involved with us, you know, from a geopolitical and environmental standpoint. From a technical standpoint, our project is simple. We've got a giant, low-grade, low-strip ratio nickel and sulfide deposit, which you can mine by open-pit mining, Very similar conceptually to a copper porphyry style of mine, and we've got lots of those types of mines in British Columbia. Our project, 99% of the nickel and cobalt are contained in 1 mineral called pentlandite. So the processing circuit is very few steps relative to other projects, and it's just very simple and reliable.
44:16 So we may have the lowest technical risk of all of the undeveloped large nickel projects in the world. That's another reason for them to be involved with us. We are excited about being involved with Mitsubishi, because, well, for one thing, they're a pleasure to deal with as a partner. They're just wonderful partners are very helpful. They want to get this project built and from our perspective, Mr Vici brings so much financial depth as well as technical depth. And so for a small company to have a giant project like this, it's always a challenge to imagine how are you going to get this thing built? Well, with Mitsubishi, we've got a pathway forward, And it's a credible pathway. So that's all very good news as far as we're concerned.
45:09 From a market perspective, and I'm talking about from a stock market perspective, You've probably noticed that base metals are not in a good market right now. And we are trading at about, with a market cap of about 0.5 what the implied valuation of our project is, implied by what Mitsubishi paid to get involved. So you've got a sophisticated investor saying that this this is worth more than the market is giving us right now. So, you know, I think as we come into December this year, it's opportune and you might want to take a look at it and talk to your financial advisors about it. Thank you very much for giving us your time and I'll talk to you later.
45:59 Hi there, My name is Pat Donnelly. I'm the President and CEO of e79 Resources. We're listed on the CSC under the symbol ESNR. Our assets are in the state of Victoria and Australia, specifically the Beaufort and Myrtleford projects. Already we've had incredible exploration success at Myrtleford, specifically at the Happy Valley area, where we've hit 11 meters of 160 grams per tonne gold. Since then we've been hitting additional high-grade intercepts of gold mineralization at the Happy Valley area. Also we've been drilling the Twist Creek area to the north. And again, we've been hitting high grade gold mineralization. One reason we like being the state of Victorian Australia, specifically the Victorian gold fields, is because of the success of the Fosterville gold mine, which is currently owned by Agnico Eagle. The Fosterville mine is one of the highest grade most profitable gold mines in the world.
46:52 In 2016, Kirkland Lake which is acquired by Agnico discovered the Swan Zone which has 3 million tons graded on over an ounce per tonne gold. So we're hoping to replicate the success at Fosterville by drilling for these high-grade mineralized gold reefs at our properties. We have 6 million in cash and yet our market cap is about $10 million Canadian. And we're listed again on the CSC. So thank you very much. And if you want to hear more about our story, please go to our website at www.e79resources.com for more information, or you can reach me at patrick at e79resources.com. So hopefully I can talk to you all at one point and thank you very much for your time. Bye bye.
