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0:07 You know, Stealth Mountain probably is set apart most importantly by its grade. It is one of the highest grade deposits in all of North America and it would definitely be in the top 10 of projects in North America. So the grade would definitely set it apart. And you know, there's a common saying that everybody says is great is king. But in addition to just grade, there's more than that because it has the silver, the copper and the gold in it as well. And as you probably all know, gold prices are quite high and same with silver and copper is actually flying these days. So the timing is good. The commodity prices are quite strong at the moment and probably are going to continue to be strong considering that all the world's economies are trying to escape this pandemic and and trying to drive their economies.
1:06 And these metals are particularly going to, I think, should perform well in the coming environment. I would say particularly because we're in Canada, it's a bit easier for us to enter into the United States so we can get into there and get our work done. It's not as easy to go to other countries at the moment just because of the pandemic restrictions. So Idaho is a terrific place in general, but in particular right now, United States is one of the easiest places for us to get in and out of. You do have to do the quarantine when you get back into Canada or in the case of our CEO John Wilton, he has to return back to the UK where he would also have to quarantine. But it definitely has made it easier that the borders are open to get into the United States and we can operate there.
2:01 But in normal times, I would say that Idaho particularly is quite a mine-friendly jurisdiction and so it has its benefits in that the project that we're working on, South Mountain, is relatively remote I would say. So it's not like it's in the city of Boise. It's actually a couple hours away from Boise, Idaho. But it's close enough that it's close to infrastructure. So you can get personnel down to say you can get equipment down to say this. If something goes wrong, you can actually get something down to site. You don't have to fly it in or bring in a chopper or something like that to bring in equipment. So it's not that remote you can actually just drive right up to the project right out of Idaho. So that certainly makes it attractive and then this particular project is actually mostly on patented ground and patented ground United States as well as private ground, which means that you have the rights to it. So that makes it much easier from a permitting standpoint, because you don't have to go through some of the rigorous kind of permitting process that you have to if you're on, say, BLM ground. There is some BLM portions to the project, but most of it is on patented ground, so It's definitely much easier to get it permitted.
3:24 Well, we definitely have a very unique portfolio. So we have projects in, obviously in Idaho, but also in Zambia and now Japan. So we have a pretty broad and diverse portfolio of projects. Right now the Japanese assets that we just acquired are really going to come to the forefront because we really want to get working in Japan and exploring there because it has huge potential. South Mountain is our most advanced project. It's at the preliminary economic assessment stage. So it's definitely the most advanced project and we need to push that to probably a feasibility stage in the near coming future. So it's a really exciting project that we look forward to getting that economic study done on.
4:15 So quite a bit coming up for just South Mountain alone. We have a new, sorry, resource estimate that should be done towards the end of April, might even be early May, but it should be done within the next couple of weeks. Right after that, we will continue to incorporate this into the preliminary economic assessment. So as I said, that should be done in September of this year. And then basically that closes off this transaction. So once we complete the PEA, we make a final value payment to Thunder Mountain Gold, which is the vendors of this property to us. That would complete the transaction once we make that final payment. And then we would have to decide whether we go to either a feasibility or pre-feasibility study stage. And so that would be coming sometime this fall.
5:04 From there, we would have to take a look at actually how the economics look and see which way we go. But I would suspect we'll probably go to a feasibility study stage and then continue on with the permitting. And obviously, the permitting is key here in getting this into production as well. So permitting would be coming up. Hard to say exactly how long that would take, but probably the biggest outstanding permit at the moment would be the air quality permit. That would take approximately about a year of data collection, and then you can apply for the permit. In this case, we might be able to at least mitigate some of that time because Integra Resources actually has a project that's right across the valley from us and there's a chance that we might be able to use some of the data at least that they've collected because it is so close to ours.
5:59 You could probably say that it's sharing the same air effectively as their project. So if we can use some of that data that would definitely quick in the time frame for us to get that air quality permit. And, that would be really up to how the how the economics look in the feasibility study to determine how quickly we push this into construction and production. All right. Well, thank you so much, Derek. It's very exciting. I look forward to hearing more about it. Thanks, Dasha.
