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16:08 continued to scratch my head as a taxpayer about why provinces are relying on federal transfers for health care when provinces should have exclusive jurisdiction of health care. It was decided in the Canadian Constitution in 1867. So anyway, with all that said, you know, I think they'll continue to work it out. What we hear certainly from the provincial governments where we're operating in Quebec and Ontario is a real drive to kind of reduce red tape, a real drive to reduce those overlaps in that, in the jurisdictions and overlaps in the work that needs to be done. And so, you know, we'll continue to work constructively and help to point out where we think some of those overlaps are, and hope those things get resolved.
17:06 But with respect to the second part of the question on net 0 goals, I think society at large needs to recognize, much as sometimes politicians like to claim it isn't so, but society needs to recognize that there are tradeoffs that have to be made for us to do this, right? And I think, you know, I absolutely agree with what Jeremy said in terms of the industry's ability to cope and adapt. As a group that's putting together feasibility studies on a couple of big projects, it's one of the key criteria that you're judging your trade-off studies on is, you know, how are we going to reduce our greenhouse gas emissions, and particularly for open-pit mines. That can be tough.
18:00 What it does, if society says you need to do this and we want economic development, it really does put the impetus back on government and on regulators to be providing clean energy. You know, it's not necessarily a mining proponent's job to build renewable power, although we're scoping that in all of our projects, because I think you have to. But it really is in terms of at least expediting permitting of transmission lines and bringing real clean energy, incentivizing clean energy to come online, that's where I think you have both federal and provincial policy that needs to come together to say, okay, we want this and we want economic growth, therefore we need to invest and we need to invest in society. So I think there is room for us to get everything that we want out of these.
18:56 It's just, you know, inevitably it's going to be a bit of a bumpy road as we figure it out. I agree. Wes, why don't you continue on with this, with the net 0 topic and being in the extractive industries, how is your company factoring in this revived emphasis of being a good steward of the planet. I know we all try and be good stewards of the planet, but we are in the extractive industry and politics could directly affect your bottom line. Well, sure. I mean, I think Dan said it very well, that it's not industry's role to develop green energy sources and provide green energy initiatives for the industry, but I think it is beholden on us to adopt and to evaluate any opportunities that there are for mineral exploration, particularly mineral exploration companies to reduce their greenhouse gas emissions and make things more efficient in terms of their environmental policy and the path they choose to take, and carry that forward right through to mine development and operation.
20:09 It is a greenhouse gas emitting industry. There's just no way around that. But I think we can do better. And I think that this is a chance for the mining industry to take a leadership role in leading that charge and demonstrating that we are cognizant of the challenges that the planet faces in the future. And we're taking steps to address those challenges. Yeah, I agree. And Jeremy or Andrew, either or, do you see any innovation either within your companies or in the industry that maybe Wes didn't mention that you care to mention? Yeah, I might just jump in there, Kyle, because we don't operate in Canada and we operate in a very poor landlocked country in Africa who's dealing with multiple issues.
21:01 And it's kind of interesting contrasting people that, or companies, sorry, that operate in places like Canada where you have access to cheap hydro and things like that, you know, where theoretically it's possible to get your carbon footprint down and whatever. But when you work in Africa, it's not that common that you have access to the grid. It's not that common that you have access to a grid that runs on hydro or something like that. Ghana and Ivory Coast do. But basically a lot of countries are flat out just generating power for themselves. So I think when it comes to the mining industry in Africa, if you're not in an area where you can tap hydro, then really companies need to be quite creative. But if I said to the government of Burkina Faso or the local community where we operate, what are your top priorities?
22:04 I don't think Net 0 would figure in that anywhere at all, unless they were going to get some international funding for that. So I think different countries and different places have different perspective on this. Some places it's important, other places it's less important. But I think at the end of the day, you know, politicians and mankind need to kind of work out, you know, what they want to do, you know, how do you want to live? Do you want to live in a modern world or do you want to kind of go backwards? So, and how do you want to do it? I mean, there's a responsibility to operate, you know, as cleanly and as efficiently as you can, but it's not always practical.
22:52 That's great. And Jeremy, if you have anything, if not, I'll start you off. Yeah, no, you know, Kiboko is an exploration company, so where we think we can minimize the carbon footprint is by hiring and sourcing people as locally as often as commercially possible. That's a big part of it. Also being in Quebec, to follow on to some prior comments, especially of Andrew's, in Quebec, we've got hydro, which is low cost, low carbon energy source and some of the cheapest electricity in the world, which is a big competitive advantage for projects who have access to grid power, particularly power that's for a renewable source like hydroelectric. And so I think that's where mining companies need to focus is what can they do locally and work up from there. And sometimes you just don't have those things available. Like we worked on another project in Africa and part of the feasibility study there, looking at bringing in a solar as part of the energy solution alongside a source of diesel.
23:53 So there's lots of opportunities for companies to work on what they can do. And that includes now the electrification of mining fleets too. We're seeing more and more of that period in feasibility studies and actual mining sites. I mean, I've probably only got one other comment to add there that if you want to look at geological opportunity, It's in Africa and it's not necessarily, the geological opportunity is great in Australia, Canada, elsewhere, the timelines for production are decades behind. But I think if you want to look at geological opportunity, it's pretty much under all the continents. It's very difficult to operate in.
24:41 If you're chasing big Copper deposits and things like that, it's South America. It's an interesting, very, very interesting dynamic. Yes. Do you want to take on, what would you rather take on? Geological risk or geopolitical risk as an exploration and mining company, right? As an investor, what do you want to take on? You can't manage geological risk. It's either there or it's not, but maybe you can manage some of your political. Maybe you can't. That's the age old question. So I'd love to be in a tier 1 jurisdiction with African type ore bodies. That'd be a Hollywood solution, but unfortunately that's not how it is. Well let me ask this to the group then. Geology, but what geology of what? Just gourd?
25:31 It sounds like everyone is in agreement. I mean, I've been more like the technical risk of developing a project. Do you want a project that's easy to mine or in a less desirable jurisdiction, or do you want something that's difficult to mine in a good jurisdiction? OK, I'm going to move on to this next question here because I want to ask specifically about what we're mining here. Everyone here is on the topic of gold. And everyone, it sounded like, is in agreement that gold should be at a higher price than it actually is. So my question to the group, and I'll start it off with Dan maybe, why not go where the money's going, which it may sound like critical minerals and battery metals is the space to be. It's gaining a lot more support from governments worldwide. So is gold, which many view as irrelevant, the commodity to be in. Why don't you make the case for gold, Dan?
26:22 Well, listen, I'll make the case for gold with 5,000 plus years of human history and human nature of using gold as a store of value. And it's fine that governments are geopolitically trying to encourage development of other minerals that right now the production is concentrated in, you know, some call it geopolitically unfriendly jurisdictions. The reality is the world supply chain is at risk of being hijacked And it's any number of critical minerals that you might need. So I think it's good policy to encourage that.
27:13 I've had some experiences earlier in my career as a private equity investor in developing or investing in companies, developing large industrial mineral mines. It's tricky, right? In the end, what a lot of people forget is that you have to sell that product. You need to build a market for that product. You need to ultimately find customers for that product, whether that's Illuminate and Rutile, or whether that's Rare Earths, or whether that's different flake sizes of graphite. That's a complicated part of the business. You know what the beautiful part of a gold business is? You pour a bar, someone sends a helicopter to your site and they pay you 98% on that day, right? Like you never need to worry about where you're going to sell your gold. And that's a large part of the reason. Go back to my corporate finance days early in my career. Like that's a large part of the reason why you value Gold projects at a lower discount rate, then you value other projects, because you don't need to find a customer.
28:22 In many cases, you don't even need to find real downstream processing beyond a refinery. So why is Gold important? I mean, just look at the number of jobs that the Gold mining industry provides worldwide, like high paying jobs. What percentage of global mining is in the Gold industry? It's still pretty significant. I don't know what that number is. I'm going to look it up after this. But, you know, it's a big and meaningful component to the mining business. So why do we continue moving forward in Gold? Well, part of it is, you know, we can't, in some cases you can't really pivot. Part of it is, you know, all of us have projects in our companies that we think are very attractive and, you know, we're going to be able to move forward and are sitting today at horrendously undervalued levels. But, you know, I think there's room for both. I don't think it's an either or. And the interesting part and one of the things that we're actually doing a study on right now is what are the other critical minerals that are sitting in your Gold deposit that you haven't looked at? All those other elements in the ICP scan, when you get your assays back, like there's a lot of those that are critical minerals. And so, you know, they're being ground.
29:42 Generally, they're being leached and they're ending up going into a tailing stamp. So are there other areas where we can maximize the benefit of some of these other minerals that occur coincidentally with gold. In case of our spring pool project in Ontario it's tellurium. It's a very important critical mineral. I think it's one of the things that we're starting to study, just to understand how what we're already doing can play a role in developing some of these critical minerals. Frankly, Dan, you almost left me speechless there. That was an excellent answer. But I will change the question a little bit there for Wetz. How about the difference between a critical mineral or battery metal exploration company versus a gold exploration company?
30:37 Well, I mean, let's face it, the reality is I think the world needs both. I'm going to sort of diverge for a minute and say I really like Dan's answer too. And I think he's absolutely on point when he suggests that there's opportunities to be captured in the mining of gold deposits around the world to sort of capitalize on opportunities in the critical metal space as well. But you know, I'm a little against the favourable treatment that Battery Metals explores. They're the flavour de jour and they're getting all the attention and all the investment dollars right now. But the reality of it is, if we ever showed anybody a piece of Lithium, the reaction is totally different than if we show them a piece of Gold.
31:23 I mean, you see, there's Gold fever and you see it, everybody sees it, every time anybody presents somebody with a piece of visible gold, especially a spectacular piece. And I mean, gold production has done nothing but increase over the last 100 years. I mean, gold has been dead for as long as I've been in the mining industry, mining for gold. So, you know, it keeps, the value keeps increasing, the opportunities keep increasing. I think there's factors at play in the world today that are frightening if you really consider things in terms of, you know, like the events in Europe and the possible events that are going to spread outwards from nationalistic movements around the globe. So all of those factors point towards appreciation of the gold price. And at the end of the day, there is still more gold being consumed than there is gold being produced.
32:22 I mean, we rely on over 1000 tons of gold a year to be refurbished from the sale and the remelting of jewelry and electronics and so on and so forth. And there's a lot of more electronic devices that are coming onto the market that require more and more gold. So there's lots of positive impacts going forward in terms of supply demand and geopolitical factors that I think point to a good future for gold prices and gold investors. I agree and I think everyone here is in agreement with that. So I'll get a little more granular on that point and please try and keep your answers under 3 to 4 minutes, because I know people like to really brag when we start talking about their own company, but I'm gonna kick it off with you, Andrew. And since everyone is in agreement, like if you wanna get into a gold mining company or exploration company, why don't you talk about your company specific, and why is it a company worth considering when there's hundreds of these Gold stocks out there?
33:24 Yes, thanks, Kyle. Yes, I think Cerama, we're, I think like most companies, we're pretty undervalued relative to what we've got. We obviously operate in Africa. We've got very low cost of discovery. But our primary project is close to 3 million ounces. a third of that's in oxide. 0.667 is over 2g. We've got line of sight to a mine development. It's already through a scale where you can develop a mine. So we're pretty well positioned project wise. We've got a large land holding. There's still a lot of exploration runway on there. So we're in the middle of a 50,000 metre drill program now.
34:10 We've completed about 20,000 metres of that. We've got 7 new discoveries in that, in the main mineralised corridor, which is about 12 kilometres long and 1.5 kilometres wide. So there's a lot of exploration runway, but the project's already over the critical threshold. We trade at a pretty heavily discounted rate. I think the other thing as well that the market misses is we have Endeavour next door to us and they've consolidated everything around us. Their Bantu project next door is about 1.5Moz. So if you include that, we've actually, in our vicinity of our main tank ore deposit, there's 4Moz within about 6km, and most of that's within 150m of surface. So, when I was talking about geological potential before, that's kind of what you're talking about.
34:57 So, I guess in short, why invest in Cerama? Pretty good value proposition. We've got a pretty strategic position in Burkina. There is a consolidation opportunity there within Devere, and I think something plays out on that at some point in the next year or so. There's still a lot of exploration ground, but the project's already past the point where it needs critical mass. So I think for us, we're pretty excited by the position where we're at. It's obviously challenging capital markets, but project-wise it's moved very well. Stuff still getting built in Burkina, it's getting built on time, on budget, and the last example of that is Orzone. So it won't take anybody else's time, but that's a quick snapshot of the company. Thank you. Appreciate it for being brief. And Jeremy, Why don't you talk about Koboko Gold and why should listeners of this panel consider your company?
35:50 Yeah, thanks Kyle. So Koboko, we're a relatively new public company. We went public, I guess, 7 months ago. The first reason to invest in any company is the team. You look at the people. We've got a high-skilled team that are dedicated to working on this project, and we've had success in the past. The company where we all worked at previously, Alvin Gold, was acquired by Endeavor Mining. And then following that, we got what was considered to be told to go back and find another one of these types of deposits. But rather than going to Africa, where I think it's very competitive for good exploration projects, We turned our sights to Canada, particularly in Quebec, and we found another project that we feel is very similar to what we had at Atma Gold. Our project is 55km north of Val d'Or, one of the best mining jurisdictions in the world. And our strategy is clear.
36:49 This is a project with a fair bit of historical drilling in which we're going out to verify those historical results. We're running an 11,000m, 67-hole drill program now, which is going to wrap up this month. And our target is to report a made in mineral resource by before the end of the second quarter. And we're looking for something of size just like everybody else is. Based upon the historical drilling, which is almost 800 holes, we see the potential for 20 to 33Mt at an open pit grade of 2.7 to 3.6gpt, which I think we would all agree would be high-grade for an open pit project in today's market. And if you do the math, you'll see we're looking for a multi-million ounce deposit there, something on the order of 1.7 to almost 4Moz.
37:38 We've just started working here, we're getting moving on it and It's a really good opportunity. When we started working At Avnil, we had a market cap of like $15M. 3 years later, we were acquired for about $160M. So I think we're hoping to repeat that success, but in Quebec rather than in West Africa. Thank you. And Wes, Thunder Gold, my hometown of Thunder Bay, is Project Power Mountain. Why should any listeners consider Thunder Gold as an exploration company in their portfolio? Well, like all gold companies were undervalued relative to our peers. It's a fantastic opportunity to get in early at a very low share price and participate in the upside.
38:26 Look, I've been doing this for 40 years as a geologist. I've explored for projects, I've developed projects, I've operated projects. This one really excited me and it excited me for a number of factors. First of all, it's located in Ontario, which is an outstanding mining jurisdiction. It's less than 50 kilometers from Thunder Bay, which is a huge benefit. Thunder Bay is a port city, so it's got the infrastructure and the labor force right there for us to benefit from without having to fly anybody or build any roads or anything like that. It's a property that sits right beside the Trans-Canada Highway. There's no significant bodies of water to get in the way or cause any future environmental problems. It's an area of reasonable topographic relief. It's called Tower Mountain for a reason, And the reason why is there used to be a fire tower on top of the mountain that was there. So it's, you know, it has a lot of factors. And most of all, it's got gold in it and a lot of gold in it. And it appears to be a different type of deposit for Archean Greenstone Belts in Ontario, which are largely structurally controlled Gold deposits. This seems to be more of a magmatic hydrothermal type deposit, which basically explains the large prolonged intervals of over 100m, 200m of anywhere between 0.3 and 1.2g per tonne.
39:52 It's an opportunity that you can throw ounces into the mineral resource estimate very quickly through large, basically a wide-space drill program. That's our target. That's what we're working towards now. We've got a drill running. We're testing the theory on 100-metre step-outs and basically following up on anomalies that were untested in the past by historical drilling because they were looking for a different type of deposit. So we're hoping to capitalize on opportunities that were missed by others. Thank you, Wes, and thanks for keeping it brief. And Dan, You're the last one, but please try and keep it brief because we do have questions in the audience I do want to get to. So just because you're last doesn't mean you get the longest, but the floor is yours. No, I appreciate it. I'll try and keep this brief. I mean, for 1st Mining Gold, the important thing to know is that we're sitting today with 13Moz of Gold on our books, primarily contained in 2 projects, 5Moz project at Springpole, which is in advanced stages of environmental assessment, and the DuParquet project in the heart of the Abitibi, which we consolidated toward the end of last year, and actually continue to consolidate a land package over the course of the last month, having acquired some ground from IM Gold that actually connects the DuParcay deposit to the Pitt & Duquesne projects that we already own.
41:22 So in total there are about 6Moz in the heart of the Abitibi. And with that project, there's I think a higher grade core. We put out a resource in September that shows within that in the grade sensitivities and the pit shells, a higher grade core that we're starting to move forward on the development track to understand what some of the development options might be there. So 2, you know, if not world-class, knocking on the door of world-class projects in fantastic jurisdictions. Our Springpole project is about 100km from Red Lake, Ontario. And importantly, surrounded with major, major exploration potential. So at Springpole, we've consolidated a large part of the Bertucci Greenstone Belt, which, you know, barrier rocks to the Red Lake Camp where we have 4 different styles of mineralization that we can target through exploration and actually have kind of kicked off really our first regional exploration program there in the last few months.
42:30 And at DuParcay, you know, we have a 5 million ounce deposit that's really only drilled, it was mined down 500 meters in the 30s to the 50s and it's very sparsely drilled below that. But everyone knows that in the Abitibi, your real deposits don't start until a kilometre down anyway, so you know, pretty good starter kit. So I think tier 1 jurisdictions, resources of size that aren't reliant on exploration success to deliver more Gold, but yet have exploration opportunities that can see these go from being potentially world class to bonafide world class deposits. Thank you all for those company pitches. And now we do have time for Q&A from the audience and we do have some questions here.
43:21 1 from Russell, gold stocks performed poorly in 2022. Is it entirely possible that 2023 misses the mark? And you all have been around this space for some time and we know gold might not perform when you want it to perform. But Andrew, do you want to kick off that question? Is it possible 2023 misses the mark as well? I'm not Nostradamus, but I think things are fairly well set for this year, I would have thought. We've had a bit of a false start in January, but it does kind of feel that a lot of people are positioning, a lot of the people I speak to, you know, running smart money, you know, either in funds or PAs, kind of going long gold. So I think that's a fairly positive sign.
44:10 I don't think all the markers are there, but I think I'm fairly optimistic that this year should go OK. It's just how well it goes. But I think if gold can push through $1950, $2000 and hold there, then I think we'll be off to the races. Thank you. Thank you. And LP Weirden had a question and maybe Wes, you can start this one off and I'll get a couple of opinions on this one. But what's the typical delay between gold prices going up and junior mining gold stocks going up? What causes the disconnect? Drilling? No, I mean, look, we're for junior companies that are in the active business of exploring for gold deposits, we've got to be out drilling. We've got to be out demonstrating potential to expand our resource footprint and taking advantage of the market conditions. That's our entire reason to exist. We're kind of in a different situation.
45:07 Dan's in a fortunate position where he's already got his resource drilled off and he's working on harder challenges. But you want news flow and you want to demonstrate to your investors that you have an opportunity to increase the size of the deposit, that you're delivering on the promises that you've made to your investors. When you go out and you say things like, our plan is to demonstrate potential for a multi-million ounce discovery with our current drill program. If we go out and do that, then I think investors will see the opportunity going forward and it will attract new investors, which will allow you to continue your exploration success. Thank you. And Dan, maybe you can continue that with the harder challenges that Wes stated there. What is the disconnect between the fundamental commodity price and the junior stock? Well, I think having been around for a few cycles and seen how it plays out.
46:05 Inevitably, gold price usually moves, and I think it was Wes that said earlier, on geopolitical events that tend to cause short-term moves in gold. It's kind of a reaction to outside events. But when the gold price moves, you usually see gold producers move first, right? And the gold producers have natural leverage to increase gold price because they're producing and selling gold and every dollar increase in the gold price is a dollar increase in the price they're able to sell their gold for. And it's a dollar increase in free cash flow because the costs are going to be what the costs are going to be by and large. So typically, the producers move first, and the large cap producers move first. And then that will trickle down to intermediate and smaller cap gold producers, which always tend to trade at slightly lower valuations.
47:03 And once those have started moving, then typically you have this gap that develops between, you know, explorers and developers and producers. And this gap can persist for periods of time, but usually, at least historically, that gap gets closed by the M&A market. And it gets closed because gold producers are generating excess free cash flow and, by and large, have not been successful in their own exploration or development endeavors or don't have new projects to develop, and they need to replenish their pipeline. And so they go out to acquire projects. And the valuation discrepancies are usually, you know, in functioning markets, senior producers trading at 1 to 1.5 times NAV, junior producer intermediates at 0.8 to 1.2, and junior producers at 0.6 to 1, coming to buy projects at 0.3 to 0.5 times NAV. So they buy them, they're accretive, and then they move them forward and develop them. So there is typically that lag. I think one of the things that can also help close that is when you're in a positive gold environment where there's a lot of funds flows that are coming into the sector, then those funds flows need to be deployed.
48:23 And at some point that sort of accelerates the closing of this gap as well, because investors look at more expensive gold producers and eventually decide to come down in the development curve for value. So that's, I think, a large part of that disconnect. And what we haven't seen, a number of us have seen it in different aspects of our career, but what we haven't seen recently is a big surge in the M&A market, where you have producers looking to add to their pipelines. It hasn't been happening, but it is inevitable. It is inevitable because every ounce that a large-cap gold producer produces, it no longer has in its reserves. So it needs to find more. And sometimes, you know, they have other near-mine exploration which helps stretch those mine lines.
49:15 Sometimes, as we've seen in this past year, and this is the Canary in the coal mine, they start dropping their cut-off grades or increasing the Gold price at which they calculate their reserves so that they can show reserve growth without actually having grown their reserves. And that's kind of the start of the industry admitting that it needs more development projects. So it's a little bit of a tangent here, but I think it's an important one because ultimately, most explorers and developers, and very few sort of take these projects through all the way on their own, and you're reliant on this sort of external factor of the M&A market to sometimes deliver extraordinary returns to shareholders, as Jeremy was talking about before and in some of his prior endeavors.
50:05 So yeah, I think that delay, the longer that delay persists, I think the bigger the opportunity to be investing in explorer and developer gold companies. Thank you, Dan, for that answer. And we have time for one more question here. And since Jeremy didn't answer any questions from the audience yet, I'll direct it to you. It's from Russell. First, I think I have something I'd like to add on to the last question, just really quickly, is that as people pointed out here, there's a strong correlation between gold price and the larger companies, particularly the producers. But in the junior space, what you often find is that it's either like, particularly exploration companies like Yvoko, it's news flow generated. So either you have a new discovery that's exciting.
50:51 We have a really great bear story. It didn't matter if the gold prices up or down. That was an exciting story because it was high grade and it was new and it attracted a lot of attention. What you also see in the junior space is when companies achieve milestones. The number of investors that are interested in exploration companies in the gold mining space is small. As you divide a resource, that number of investors increases, and then as you move from feasibility, development, and a producer. And so investing, when I put on my investor hat, it's all about trying to find the right opportunities that are gonna go from exploration to resource development, move up that valuation chain. You gotta keep moving projects forward and that's how you end up having steps in valuation and as your audience gets larger, so does your liquidity and hopefully your share price as well.
51:42 Perfect and Go ahead and continue on with this because this is kind of... Okay, so when we look at a project... What significant merits do you look at? Yeah, so the biggest merits we look at are, for us as an exploration company, we want to reduce as much risk as possible. So We like to see historical data, whether it's of high quality or low quality, because that really lowers your technical risk. You don't want to be often the first one to drill a project. You want to be the 3rd or 4th person, so you've got a lot of data to work with. That's an important part of it. We also really focus on contained metal, which the regulators don't like you talking about. But from a mining and exploration point of view, that's what it all comes down to. How many ounces are really in the ground here? And then what kind of tonnage do you have And what kind of grade? Because ultimately, grade is king. And so from my point of view, when I put my investor hat on, we only look for, and my CEO hat at the same time, we only look for high-grade deposits.
52:44 Those are the ones that get funded regardless of market conditions. They are what larger companies want to acquire and as a result it allows us to be a bit more agnostic on gold price. We just want to focus on grade and tonnage together. Those are the most important merits for us. Political risk will always exist, political risk always changes. Sometimes certain provinces in Canada are great places to invest, and then a couple years later they're not, and then they come back and forth. So we really focus on the technical merits of our project first over the geopolitical ones. Thank you, Jeremy. And with that, we are running low on time here. So please keep this within 60 seconds, everyone. Just if anyone is interested in getting a hold of your company, What's the best way to get a hold of you? Maybe plug your ticker symbol.
53:35 Jeremy, why don't you go ahead and tell the audience how they can. Yeah, I encourage everyone to add KIB to their watch list and you can follow up with me directly. My email address is at the bottom of every news release, as is my phone number. And just go ahead and reach out. And I'm happy to walk you through the Kiboko story and where we've come from and where we're going over the next few months, which we intend to, We're targeting to report our main mineral resource for Hurricana before the end of the second quarter of this year, which is really only 3 months, 4 months away. Perfect, thank you. And Andrew, how can people get a hold of your company and you? Surama's dual listed, So if there's any Australian people on the call, which I doubt at this time, but our Australian ticker is SRR and our Canadian ticker is SWA.
54:25 Either go through our website and contact us through our info email or dial the office directly. It's probably the simplest way to get ahold of us. Thank you. And Wes for Thunder Gold? We're a TSX-V listed company with the symbol TGOL and I encourage anybody to follow us on our ticker or go to our website at www.thundergoldcorp.com. Thank you. And Dan? Very similarly, lots of information on the website www.firstmininggold.com. You can reach out through that or info at firstmininggold.com. Lots of different ways to continue to follow us. Ticker symbol on the TSX FF and OTC in the US FF MGF.
55:18 Perfect. Thank you all for joining me today. Thank you all for listening. As always, this event will be recorded and will be available at sick.com in the coming days so you can check it out later, the pre-record or the record. But gentlemen, thanks for joining me. I appreciate it.
