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21:45 Oh, well, the macro sense, I mean, you know, some of the things I already touched on, certainly, you know, there's a fire underneath gold for a variety of reasons here that we're looking to continue. But I think also, you know, the idea and the interest behind now gold and gold production really starting to be at the forefront of people's imaginations now that it's starting to make money. I mean, this is part of the problem of our sector. The investment that's been put into gold and gold-related assets is so minuscule. It's not, it's ridiculous. You've got a very, very small amount of money that's put into this space already. So everybody's sort of battling for significance at this point in time with regards to that. But higher cashflow numbers is going to get the attention of the bigger fund managers.
22:36 You know, Newmont's performance, it being the only gold company in the S&P 500 and starting to see real appreciation in that sense as well. I think it's going to be also likewise important. And eventually that's going to lead to better discoveries and what's really driven the juniors in particular is this sort of discovery cycle. But we've got a little bit of chewing that needs to go on for the time being. And that chewing involves these mergers and there's reorganizations that we're all talking about here today, and also where you're going to get investments from aligned partners. So not only do you need internal ownership, as was already discussed, but having aligned either funds or corporations that, again, can see where you're trying to develop this opportunity and build it accordingly.
23:36 You're on mute, Romeo. Awesome, My bad. Brian, I'll throw it to you next. I do want to talk about copper. So obviously, with potential for tariffs across North America, We don't know where they're going to set out with China continuing to build. Where do you think the copper space goes next? And how do you think it'll impact acquisitions across the field? Well, I guess I'll open by saying Daniel was right. Daniel's opening comment was that the, I'm paraphrasing, the world is kind of breaking into 2 economic blocks. One is China led and the other is US led. And I'll add to that to say that there will be higher tariffs for trading between the 2 blocks than there will be tariffs within the block.
24:27 So now zoom out for a second. Anybody in North America or in Europe, maybe Australia, no, too Chinese related, anybody in North America or Europe who is buying copper for a project is going to have to buy it from someone who is not in China. And if they are going to buy it from China, they're going to pay an import tariff that raises the price in a way that supports domestic production. So I'm not sure that's answering the question, but that's where we're going to be. And then Canada and Quebec, where we are, is going to be the bell of the ball because if the buyer cares about low carbon intensity, well, Quebec is exactly that in its power.
25:16 If the buyer is in Europe and cares about how many days of marine bunker fuel get burned to ship it from China. Well you know there's an Atlantic port on the St. North River that our material will go to. So you know it's 3 weeks closer to Europe than it is for it to source from China. And then finally, I'd say this reorganization of the geopolitics that Daniel's talking about, I think that it means no matter who wins the federal election in Canada next week, I think we've just seen peak permitting delays. Whatever is going to happen, it'll get better from here because if we can't sell to the US, we have to sell products the rest of the world wants, And that's the resources.
26:04 Makes sense. Mark, I'll throw it to you with a obviously nickel project in BC's in Canada. How do you think geopolitical scene will impact the future of the nickel game in Canada? You know, that's really hard to say it all, you know, it's all about, once again, price right now, when the prices of this low, it's difficult to advance a project. So it definitely does slow things down. And that's why we're kind of pivoting to exploration with our company, we've got, We've got an asset, we know what it is. If you improve the nickel price even slightly, suddenly we've got good economics. But we've also got copper exploration targets within the same mineralized system.
26:50 We've explored maybe 20% of this whole ultramafic complex. And I think I was quite excited to bring in Dr. Beresford to look at all of our data and suggest to us, you know, what targets we still have. And he's, he's come up with something that in an area that I had written off. He thinks we've got a Bulkowski style copper target. So, you know, that's really interesting. Nickel in general, I mean, there's a few nickel projects in Canada, there's not much in the United States. If you want a supply chain for the battery business in the United States, you're going to have to develop these projects sooner or later, or you're just going to have to give up and rely on China.
27:39 And with the current tariff environment and political confusion, I don't think it matters that much because, I mean, it takes what, 5 years at best? If you've got the money today, it takes 5 years to build and start producing a major mine. So this will all be behind us by then. And we can build a battery supply chain in Canada that Europe would happily buy because of the high environmental standards in Canada. Everything that makes the Europeans feel good is something that we do here. They won't necessarily pay more, but they will preferentially buy. I think that's an interesting perspective. And Daniel, as an investor, how have the last 3 months of capital P politics, have they impacted what you think about jurisdictions or which ones you look for? Yeah, certainly they have. I think that's what we're seeing right now in the market. What I expect, as Brian mentioned, we'll continue to see is that the universe of projects that can actually become a mine have become much, much smaller. And so from an M&A perspective, what that means is that as a project, you're no longer competing against every other project in the same asset class.
28:53 You're now competing against a narrower set. And within that narrower set, what that means is that you're going to, as a target, there are fewer options for potential acquirers to choose. And especially those projects that are closest to development or that meet their criteria the most, those are gonna become very, very obvious. And I think that's significantly different than what we've seen in previous markets, where jurisdiction, although it mattered, hasn't nearly mattered as much as it does now, or as much as we expect it to matter in the future. And so that becomes much more of a weighing factor. No, no, appreciate that. There's one question from the audience that I think is really interesting, so I'm going to tackle it now. Raziel says, all this conversation about tariffs and strategic minerals has prompted governments to advocate speedier permitting for mining in general, which I think we are seeing even in a place like Mexico, etc.
29:40 So what specific advice would you give to governments in that regard? Should we educate regulators about mining? My question is, how would you do that? I'll throw it to the whole crowd here. Anybody who's got an answer, please feel free to go for it. I'll jump in to that one. I think that you need to throw resources at it, and particularly in Canada where there's another level of government involved now, and that's the First Nations. So the First Nations are definitely players in the permitting process, and we can't be blind to that. So what does that mean? Well, it means that if they don't have the capacity to process permit applications, that's where that's the weak spot. That's where it slows down.
30:28 So who is going to provide the capacity to the First Nations? Some First Nations have got pretty good capacity, some have terrible capacity for processing this sort of thing. And I would suggest that that's that's the job of government is to step in and provide the capacity so that First Nations, in conjunction with the provincial and federal governments, can evaluate a project in a meaningful way. I like that perspective. Anybody else want to talk about how we can educate our politicians? I know people usually like to do that. Go for it, Brian. I'm actually not gonna say it's the politicians that need educating, although I often say that in my life, but I'll note for the crowd here that on the 26th of March of this year, the Supreme Court of Canada ruled on a dispute between Seabridge Gold and the Canada Revenue Agency.
31:24 Right, Mark knows where I'm going with this. Okay, so CRA for many, many, many years had said that flow-through spending or development expense spending, exploration spending, that they defined what that was, even though the legislation said it's money in furtherance of discovering the location, the amount, and Importantly the quality of a deposit, right? CRA trying to Collect as much tax as it can has for decades taken the approach that quality does not include anything to do with the economics. Right? So your feasibility study, you're retesting something after you take over the project from a prior company to prove that it is what they said it was.
32:21 That's probably a bad example. Environmental studies, you know guys jump in here with others, CRA was saying for years that those are not acceptable expenses for exploration or development. And hats off to Sea Ridge, who took the fight the whole way. They wanted the Supreme Court, and this now opens the doors. We can talk about why it's hard to get money in the first place. But now once you have the money, a company like mine can say, well, we can keep using that kind of expenditure all the way from exploration out to, Well, out to the level at which we're going to get bought out by somebody because we've done all the reports in the 43-101s and we can use the tax credit system for that spending to do those reports.
33:11 Whereas if CRA had their way, you'd have to use what are called hard dollars, right? Like more expensive money. It comes down to the cost of capital. And if anybody wants to jump in on this, I know Mark. You know, the only thing I'd jump in, because I have some experience with it. I had a dispute with CRA back in the 2010s, where they audited us and disallowed a bunch of CEE expenses. And it turned out that their public definition of what qualified as CEE, their published on their website definition, was not their internal definition. And in particular, metallurgy. So they nailed us and said, well, you can't use metallurgy, CEE.
33:58 And I'm going, well, how in heaven's sake are you going to figure out the quality of a deposit without metallurgy? You can have the greatest grades in the world but if you can't recover any, it's very low quality. You can have lesser grades but you've got really high recoveries. It's the net recovery that counts at the end of the day. Yeah, just to jump in Mark on that. I mean, I think this education within these own their own bureaucracies and sort of understanding our business. But I'd also say, you know, the timeliness and how that affects these companies is also key and critical. They've got to get it and they've got to get it quickly but you know my only main point is looking at how you're getting let's say regulators from the top let's say the federal level that are now in provincial levels that are now motivated to get things going, given the big threat that the United States represents, or developing other markets, or all of these other types of ideas, as well as making sure that you've secured the local level of social permissions as well. And that's typically First Nations in British Columbia.
35:05 So I think that that's, you know, getting a blend and a meeting point, if you will, between those 2 major entities as far as clearing the bureaucratic cycle for a junior exploration company is key, in addition to what Mark is highlighting here, which is these companies understanding their own definitions to an extent. Daniel, got any last notes on this before I jump into mid-tiers? Yeah, to add in there, I think one of the really interesting ways to educate regulators in particular is framing the conversation a bit differently. Right now, I think for a very long time, certainly a duration of my lifetime, we've seen significant extraction from Canada to pretty much everywhere else in the world for pennies in the dollar. We see this in the form of brain drain from Canada to the United States.
35:53 We now see this even in the difference between the US dollar against the Canadian dollar. And what that means, if we don't have more support for Canadian mining domestically, is that countries, whether in Australia or in the United States, friendly countries, are going to be able to buy quality assets and benefit from the ownership of it. And the only real way to counteract that is to allow that value to be built domestically here in Canada. And the way to do that specifically is to better regulations on the CRA side, like what Brian and Mark and Michael have discussed, as well as to other mechanisms to actually allow permitting to advance more rapidly. And so I think framing the discussion as a Canada-first discussion to regulators is something that will actually lead to policy changes. I think that's why we're already seeing these policy changes coming to fruition in an environment where for the last 20 years, the resource sector has been hated.
36:48 Thank you, Dan. Thanks, Rachel, for a great question. I do want to talk about mid-tier producers, because I know we've talked a lot about Newmont and the big boys, but I do want to talk about mid-tier. And Michael, I'm going to throw it to you first. At what point during the current M&A landscape do mid-tiers start to do gobbling, so they start to deplete resources, and how does that affect juniors' strategic positioning? Well, I think what's on the mid-tiers' mind, you know, everybody wants to get bigger in this business, the scale is king, so I think it's a real opportunity, you know, given the asset prices and the expansion that they can see within. But they're battling with the idea that they themselves view that they're undervalued as well. And that's telltale of where we are in the cycle. So you're seeing things like cash takeovers where they can be done, or you're seeing these mergers of equals which means both sides both of come to the agreement that we're both undervalued and we're better together.
37:40 So I think that that's a real opportunity to grow and if you look at the history of some of the, what's the bigger the senior mid tiers that are around or even senior companies that exist, that's the genesis of how they've come about, exactly through markets like this. So not only is the opportunity there for investors and people who have the foresight with regards to what happens over the next 3 to 5 years. But also with respects to these companies building themselves and really looking at how they can grow their platform out, access a variety of different properties and projects that in turn make sense for them. So I think it's a really interesting mix, especially if there continues to be lack of respect from the outside of the sector itself, then I think you're going to see that be recognized within the intermediates themselves and they can go through a real aggressive growth spurt. Because if you think about it, they can't outspend the seniors, they know that.
38:43 So their leverage is really how nimble and how quick they can be with regards to beating everybody else to the punch. I think assertive aggressive intermediates have a great opportunity in front of them given what's happening, especially if they've got cash flow themselves, which a lot of them do and it's starting to improve pretty significantly. Because of course, the economics way of thinking about it is, their, let's call it lower grade or lower tier type deposits actually have better leverage as the gold prices start to move northward as we've seen now. Great, thank you. And Brian, I'll throw it to you for what do you see with the mid-tiers up to? I guess I'll say 2 things and I'll be quick because I don't know that I can add much to this answer that Michael's given.
39:38 I agree with him that mid-tiers, if run well, become seniors. I would point to Agnico. I've been an Agnico shareholder for over 20 years and as a management team they've done all the right things. As a matter of fact, I try to steal from the greats. So when we named our company, we ripped off the Agnico name, which comes from the periodic table of elements. And then the only other thing I would say about mid-tiers versus seniors is, if a couple years from now, our company gets a bid from somebody, our shareholders, including me, would be looking for a transaction that doesn't give us cash because then you have to pay tax.
40:24 We would look for a tax-free rollover of equity into the other equity, and that resulting entity I would hope is a is a decently valued company that has great growth prospects after we're added in but still pays a dividend so that people can hold on to their original shares they buy today and end up with the next Agnico. That's kind of where I hope it goes. Cool. I like that perspective. Daniel, I'll throw it to you for a quick word here on where you think, what do you think mid-tiers are up to? Certainly. I think generally speaking, what I expect from mid-tiers is firstly that they're going to be making acquisitions that are regionally where they're operating. They're looking really nearby. And I think that already limits the number of potential buyers when looking at who is likely to acquire an exploration stage or development stage a company in that earlier Lassonde cycle. The other aspect is I'm expecting large mixes with equity being involved in the transaction, where unlike larger tier companies, I expect the financing to be a mix of those shares as well as cash.
41:28 Thank you. Mark, any words on the mid-tiers? Yeah, I've only got really one thing to add to that because it's been a pretty wholesome response already. A lot of the mid-tiers, not all of them, are run by bankers rather than mining people. And a lot of those bankers are looking at the stage of the market cycle, and I know this from talking to several of the mid-tiers, and we're there on the cycle. And they're looking 5 years out and going, how do I position my company or it to be taken out by one of the big ones at the best possible price 5 years from now? Sure. And so they are focused on cashflow.
42:15 They're focused on near-term cashflow. You know, they'll do exploration plays. So they'll do pipeline style plays as well, but there's less of the focus there because basically in a takeover, you're not gonna get paid much for your pipeline, you're gonna get paid for your cash flow or your near cash flow. So that's where they are right now. And again, as we were discussing right at the beginning here, we're early in the cycle. And that's all part of that. Now, absolutely. So I'm going to get into some specifics of all your individual projects right now, if you don't mind. And Michael, I'll start with you here. What specific milestones or achievements has TDG Gold gotten up to that makes you more attractive to a future potential acquirer at a price you like? Well, the advanced stage of our asset, our property is very, very, it's a key to the area that's developing with gold, you know, gold to the north, copper, copper gold to the east, and then more copper to the south. So we're in a really great area from a logistical perspective.
43:21 So if you're only to look at this from a land value perspective, you'd say this project area is key in addition to having the right kind of advanced mining tenures in place, existing tailings fields, infrastructure, all of those types of permissions that are necessary in order to make this move along quickly. Because I always think of time being the enemy and not only will that would an intermediate or a potential producer look at it that that way it really affects the NPV that they're going to be able to project is really by hammering down the number of years until you get to actual production. So I think that that's something that we've spent a lot of time, obviously we spent a lot of time with First Nations and negotiating with them, so we're very, very aware of the permissions that we have with regards to operating, and then the importance of developing along that local level.
44:23 So I think companies looking at us and saying that we've got those things in order and the logistical or location of the property package alone is key. In addition, lately, as of January of this year, we've got what I believe is the hottest exploration play developing in all of Canada, right on our boundary. So what's that, the importance of the geology and the potential growth for the geology to make this a tier 1 style asset is very much along the fairway of mineral and mineralized corridor that we have on our ground. So I think that recognition of not only having the right kind of assets to build a proper plant in order and through this advanced status, but also with regards to being at the correct point at the, let's call it the Lausanne curve, where you're actually looking at exploration starting to really accelerate your share price and interest.
45:20 So aside from my saying so, you know, this is a hot area, we've got 3 major companies that are looking to invest, you know, their capital in the adjoining regions to our tenement. So money talks and that's a matter of that going into the ground and as little as a month from now. Great. Mark I'm gonna ask a very specific version of this question to you and that's you have a JV with Mitsubishi for those in the audience who don't know. What were they looking for in partnering with Giga and how's that gone? Well, they were looking for a long-term supply of nickel and cobalt. And we've got that. They were looking for a project that was technically not very risky, which ours is.
46:09 It's actually kind of a unique deposit in Canada amongst the large, sort of low-grade, open-pitable Nickel plays. Ours is by far the simplest. We're recovering Pentlandite. 99% of the nickel and cobalt that's recoverable are contained in Pentlandite. So it makes everything very simple. They were also looking for good relations with First Nations. We've been working on that for a long time. And we know our way around quite well. We've got good relations. They were also attracted to the fact that our tailings will sequester CO2 directly from the atmosphere.
46:55 And in fact, we've designed our tailings management facility to be what's called large beach, small pond, so that you've got the maximum surface area exposed to the atmosphere as you can. And we've been working with the University of British Columbia to actually quantify how much CO2 gets absorbed. You know, and it's quite interesting, that really helps. We've got a path to, we think, to 0 carbon for scope 1 and 2 at least. Now you start transporting the concentrate and processing it further in other places, that's different. But scope 1 and 2, we've got a path to 0 carbon, and maybe even better.
47:44 That attracted them. That was really a talking point. And then also, I mean, we had some good people. I mean, I'm not gonna blow my own horn, but we had Martin by drug, x share it. Just nobody knows the nickel business better than he does. And we had a Lyle Tritton also x share it. And I'll put him as an engineer in the room with anybody. He's extremely smart, and also extremely credible, because he's one of these people that doesn't know how to lie. Sometimes as a promoter, I wish he did, but you know, he doesn't. He's, it's credibility beyond everything. And so it was that, it's, they stepped in at, what for them is a very early stage.
48:32 We had a PEA done and they stepped in with the money to do a pre-feasibility study. Just a great partner. I think it's great, yeah, I can certainly attest Lyle's one of the people that intimidates me every time I talk to him. Not from his attitude, he's very nice, he's very smart too. Brian, I'll throw it to you. How has Kupani positioned itself to be at the right time an attractive candidate for acquisition? Yeah, so we've done a few things, but the one I'll highlight here is that we have been picking away at staking and buying and assembling this claims package for more than 10 years. And we started by staking around a historical resource that had never been mined, but had been brought to a mining lease.
49:25 And we basically finished all that good staking in, I'll say 2023. And then in 2024, myself and my business partner, Douglas Macquarie, went out with a couple of geos. Douglas, for those who are on the call, some of you will know, he built Asante Gold from nothing to 3 operating gold mines in Ghana with a 2 billion market cap at its peak. Anyway, we came back from the first week of prospecting where really all we did was visit the historicals and some of the showings. And We found a map online that the Quebec government and the federal government published in 2015. Nobody noticed, nobody cared, nobody had done anything about it. And it was a map of copper and nickel in the lake beds at the Southern Labrador trough.
50:16 And here's what we did that makes us an attractive candidate when the time is right. Douglas and I asked ourselves over breakfast, so, you know, if we're right that, you know, the 5 million tons in the little zone that has the historical can become 20 30 40 50 100 million tons which was Douglas's thesis what does it mean for the rest of the zone because it's all the same rock right it's it's 160 kilometers long of the same rock and Douglas said well, we better grab the whole fucking thing Ben and heaven wait so that's what we did. We have 5 with over 500 square kilometers and There's no way to do work in the South Labrador trough except through us.
51:04 And that's what we've done. When someone, when we have success, and Anglo-American used to have some of our land, it was their nickel exploration plate. When they wanna come back, there's no other land to get except through us. That's our move. That's a move. I totally get it. Michael, I'm gonna throw a just question just to you here. I know TG Gold already has strategic investment from some bigger players. So first at the beginning of the question lead off with letting people know what those are. But I'm curious how their involvement impacts other big players from getting on board again when the time is right. I'll throw it to you. Well on the corporate level I think it gives the green light that corporates ought to look at this and be interested because you already have that corporate involvement. I believe it catalyzes that entire situation.
51:51 So, you know, as you're hearing me say, I guess I'm younger and more impatient on these things, but I want to see things happen and start to really get in motion. And I think having a corporate partner assists in getting to that end sooner than later. On the institutional side, I mean for a small company we have a lot of institutional players who are already involved and these guys do good research internally. I think individual investors can feel very, very qualified in looking at this as an investment, given the homework that's already been done on the institutional level. And these guys are not just doing research reports, they're employing their capital into these issuances as well. So I think from both the institutional and let's say the corporate you're getting that validation, that vindication as far as how this is going to be able to develop.
52:45 The capitalizing aspect of it I think is important because it's a matter of let's get this show on the road. And I think the market will understand that there is always going to be this interest corporately in this additional amounts of capital that can come along and help things along. But in our particular case, you know, not only is the intermediate not the biggest mining company in the world out there, so it's not necessarily going to scare everybody away, but also their ownership level is kept to an amount that makes the that keeps the door open, let's say for other involvement, whether that's institutional or corporate as well. I think controlling those factors as best as you can is really the best you can do. Great. Thanks. Daniel, I got one for you.
53:30 As an investor, what do you think makes a junior most appealing as an acquisition target? I think it's resource, location, team. What do you think? If you had to sum it down to 1 thing, I know it's a million things, what do you think the mid-tiers and majors are looking for? Sure. I'll sum it down to 1 thing. I think it's important to remember that companies don't get sold, they get bought. And so the number 1 thing is what is the strategic value of the company to the acquiring party? And so that's a mix of the assets, it's a mix of the jurisdiction, the technical de-risking, the team quality, the capital structure, but ultimately it comes down to what level of conviction does the management team acquiring the junior have that this is going to create shareholder value and that they can either create that value in a short period of time or explain to their shareholders why it's an accretive process.
54:17 Great. I appreciate that very much. Brian, I'm going to ask you a tough one to answer, so bear with me here. I imagine Kubani has had some interest from bigger players, and to the best of your ability, I know you can't be 100 per cent candid about every offer, I know this works, Let us know in the room just what you've heard and what that tells you about the space. So yeah, we've had some unsolicited conversations. We obviously didn't come to terms. The main sticking point was the other company's CEO wasn't prepared to pay what I was asking for on behalf of shareholders. Obviously, we still go to the board and everything. The main reason for the difference is because of each one of us had different assumptions about the exploration success still to come. And the other CEO didn't disagree that we're going to have the same amount of exploration success that I'm suggesting.
55:15 He was just not certain that Mr. Market, his investors, his stock price, was going to reward him quick enough for doing the deal. And they've gone on to other great successes. That company is also currently the bell of the ball with something else that they already had. And we'll get there too. We'll be the bell of the ball ourselves soon. But you know what, Romeo, sometimes it's just too hard. You can't get the deal done. Like I said earlier, everyone wants cash flow. And we are as far away from cashflow as we're ever going to be. And every day we do more work and we explore more and we find more, we're getting closer to that. But, you know, it'll be, yeah, you know, every day that goes by our perspective pool of buyers grows, but we haven't gotten close on anything yet.
56:08 Great. Now, I do want to give all of you an opportunity just to pitch your security shamelessly, but there's one question that just came in that I think is really interesting. So I want to ask it just to see if somebody's got an answer for it. Tom McCandless from the chat asks, teams make discovery, so when you acquire a project, do you want the team as well? Does anybody have an answer for that? And your experience with sales, how much the team goes, which ones, etc.? Yeah, I mean, the sort of most honest answer is it depends, right? It depends on a lot of factors. So I think you will typically see some kind of a lending of the technical knowledge over to the acquiring company, where they want to know where the keys are, that unlocks all the right doors and sort of with regards to the geological perspectives that are being looked at on a go-forward basis. But If it's a big enough company, they tend to have a pretty good handle of what kind of objective they're driving to themselves. So I think at best you can hope for a bit of a migration of a team or a lending of a team for a while and some of those personalities might fit properly with the bigger entity, but exploration geologists are a bit of a different breed. So they tend to like to explore and continue what they're doing. So it really depends, and it can come down to not only a corporate individuality, but a personal one as well. Sure. I appreciate that. I'm unfortunately have to cut off that answer there. So do you want to
57:38 give everyone an opportunity to pitch? So Mark, tell the folks in the room and watching the replay, why gig is an interesting bet? Well, I think in any commodities play, the best time to buy is when everyone hates the commodity. And that's where nickel is right now. And so, you know, there's really nowhere to go up except up from here. We're at a price level where a lot of producers, like something like 50% are losing money on a cash basis. So mines are closing down. This is, you know, the cure for low prices is low prices. And as I said earlier, the price of nickel will either go up slowly or it'll go up quickly.
58:25 The Indonesian government has the power to make decisions that could move the market very rapidly. And again, I don't know what they're going to do, but they certainly could do that. And that would be something I would apply. Awesome. Thank you, Daniel. I'll give it to you to pitch whatever you'd like, but I have a guess what it might be. Yeah, absolutely. So on our first of all, thank you everyone for joining and participating on our platform. We've been releasing a lot of new features. So right now, after this event is done, go to our homepage and you can actually type in the name of any of the companies presented here and you can continue the conversation. We now have chat rooms, every event and presentation and video that's been hosted on our platform in there, as well as an Ask AI feature where you can go and get answers to some of your geological questions and many more features coming soon.
59:11 Awesome. Thank you, Daniel. Michael, I'll throw it to you to pitch TDG with whatever level of modesty you'd like. That's sometimes very limited, but I'll do my best. The value and speculation, which is a contradiction of terms, but the speculation part comes in the major activity that's happening around us with real dollars looking at the hottest exploration region in Canada. The value perspective is the goal that we already have. And it not being properly assessed with regards to, or I would say recognized by this market for being the, for having a lot of value in scoping studies, PEA type studies as well, plus the expansion that it represents. I think there's a wonderful opportunity there to both get value and get this great upside through exploration potential that's going to be happening.
1:00:05 We're armed with over $15 million in capital to make that happen. And in the region, we're seeing to the order of $30 million spent in and around us. And that's all happening now. So that's going to be kicking off within the next month. So you're not going to have to wait with regards to looking at things such as geophysical studies and on their way to drilling type prospects. So I think it's a really unique opportunity that exists. The sentiment in the space, as we've all discussed to some extent here, remains with us and why you're able to buy these projects at low valuation. I won't say cheap, but I'll just say great values, especially given the upside potential that we're seeing.
1:00:53 And, you know, that's going to come about as you start to see more of this M&A activity, which is exactly the topic of this panel. And that's going to become clear and obvious as the seniors continue to make more money, they right their ships and then it's going to be about growth and how do we maintain production now that we're making so much money per ounce. Great, thanks. And Brian, close us off with a pitch for Kapani. How long have I got? You can roll with it. Okay. I've made money for investors on everything I've done prior. Douglas Macquarie made money for investors on everything he did prior. Between the insiders, as I've already said, we have over half the company. Stock is, the ticker on the CSE is Charlie Uniform Papa Alpha, C-U-P-A.
1:01:44 We have a USA listing coming very soon. We were in the field last year. We were in the field 3 months ago. We're going back in the field in a couple more months when season's warm enough, the bugs are back. And what do we have? We have a 20 million market cap with 500 square kilometers of exploration land which is a lot a lot of that land is perspective. There's a historical resource on it and Our thesis is that the historical resource can grow by many multiples and at you know it's 5 million tons today no reason it can't be 20 30 40 much larger maybe that resource exists on 1 tiny little spot of our 500 square kilometers And no one has looked at this land in some cases ever.
1:02:35 In other cases, no one has looked at this land since 1987 when a company came by looking for platinum. They're the ones who drilled off the 5 million tons. So we're 18 cents and I hope we're going to a buck 80 based on exploration results in the next year, year and a half. So I'm looking for shareholders that want to come for the ride of a 2 year duration, 3 year duration, maybe it's a year and a half, I don't know. But the management team is in for that ride. And we're looking for shareholders who think the same way. Awesome, Brian, Michael, Daniel, Mark, thank you so much. Thanks, everybody in the audience really appreciate your time and asking questions. I hope all of you have a wonderful rest of your day.
