Latest / Financial Survival Network / Coppernico Metals to Receive TSX Listing and Start Drilling Sombrero with CEO Ivan Bebek

Transcript

Coppernico Metals to Receive TSX Listing and Start Drilling Sombrero with CEO Ivan Bebek · Financial Survival Network

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Each time we showed this to a major minor, you know, it was
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was a very very consistent response. This is a tenet of ten on an
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opportunity, a big opportunity for grade from surface and scale that would measure in.
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You know, in our view that the top ten potential global discoveries for
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Coffer, that constant narrative kept coming back from the majors, which is what
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drove me and gave me that confidence that we were chasing the right thing.
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We did consider looking at other assets at one point just to mitigate the risk
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of this, but the team pulled really strong in Peru and you know,
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time spent in the community doing great things socially and environmentally, and with with
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the farming and agriculture we brought in, it paid its dividends and so far,
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you know, we've been lucky twice out of three times on this project.
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The Financial Survival Network now more than ever the Financial Survival Network. And
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welcome. This is Financial Survival Network. I'm your minist Carry Letz, and
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we have an update on a project that has been going on for so long,
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finally reaching fruition, talking about particle Metals. Find it at partico metals
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dot com. CEO, Ivan Bewick is with us now. Ivan, the
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things are actually starting to happen with Copardico and well some thought it couldn't be
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done. But with a copper price at four dollars and sixty three cents firm
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community backing, you've you've actually pulled off the impossible here. Well thanks,
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Kerry. Look it's it's been some time and a lot of promises were made
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back in the twenty fifteen to twenty twenty effort where we raise the spent over
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one hundred million dollars looking for some of the world's largest discoveries, and we
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came on this Sombrero project, which advertised as an incredible asset by expiration potential,
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but came with a price which which unfortunately for investors who are extremely thankful
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for has been time. You know where we're sitting at a threshold here of
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a major threshold. We crossed with the communities where we've had a chance to
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live in the community, spend eight years learning about their needs and bring in
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predominantly agriculture programs to help them, you know, benefit with their nutrition in
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the Andes, an area that doesn't see much agriculture. These programs it's led
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to a really strong sustainable relationship between us and them, and it's giving us
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the ability to drill our first holes here in the coming month or so.
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We'll be hoping to drill here in June on one of the most coveted copper
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assets I'm aware of that's available to drill globally at the moment, right And
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you know, you kind of went through a lot of obstacles to get here,
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not the least of which was getting the community support, full community support
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and getting your permits. Yeah, so these obstacles. You know, there's
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there's two major things we faced here. One is is it expiration? Is
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it probable enough to be a major shot? You know, is that is
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that put potential for multiple big discoveries is at present or not? And we
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got through that through multiple areas of work that we've done, not only demonstrating
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considerable mineralization on surface we see it in the third dimension with some previous role
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holes, but we also were challenged with the age of when this mineralization was
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formed. We and several major mining companies confirmed that it was all formed at
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the same age as all the major minds nearby on the same mining trend.
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This is an event in our careers to possibly extend a world class mining trend
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which would go well beyond a big discovery, would give us the chance to
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have multiple potential major discoveries. And going back to Orrin in twenty twenty,
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right before COVID when we decided to do the split, the actual whole spirit
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of that transaction came from a gentleman that was the head of expiration for BHP,
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the largest mining companies in the world. This name is Keenan Jennings and
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if you watch in recent news that Keenan has recently joined our board and he
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became a shareholder in the company. But he pulled me a side back in
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twenty eighteen and said to me, Ivan, look, this is at the
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top of our list for a coveted exploration projects and my favorite one. And
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if you want an investment from us, or if you want us to eventually
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consider buying this from you, which is our end business goal to sell to
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a major once we'd monetize and de risked a lot of the discovery, we
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would like it separated from your gold and silver assets. So that was the
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spirit, and we took that forefront where we stumbled first was in twenty twenty
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one, once COVID was in full effect. We were not able to have
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community meetings or assemblies, nor did we push them. When people's well being
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and health was of serious concern and it was at the forefront of everyone's mind.
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We actually had a chance to step in when governments were burdened with constant
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issues around their country and we were able to step in into these world communities
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and help out where the governments weren't quite able to get there, and then
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further on continue building incredible relations. Bringing in the agricultural programs to help with
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the nutrition in the region as our first major commitment to these towns. We've
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now expanded that and now we're actually creating jobs and everything we're doing carry is
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going to last well beyond whether we find a mine or not. Expiration is
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a risky business. It comes and goes, but the communities we're impacting with
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our social efforts are going to be enjoying these positive, sustainable benefits for many
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decades to come, and that's something we're extremely proud of. The weights to
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get to being listed, or to the stage of now where we're financing ourselves
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to drill and list the company. This weight's been tough because it endured that
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the worst two years that I've seen in my twenty five years being in the
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business, and probably the same for every mining billionaire entrepreneur I've spoken too well
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before my time, it was challenging. The cliff that Metals fell off of
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in twenty one twenty two, in a bit of twenty three, it was
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quite severe, and I had never seen sentiment lowers, so it pushed a
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lot of a lot of perseverance, and even at the board level there was
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concern a year ago. The board wasn't sure we'd make it through. And
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at the same time, you know, shareholders were frustrated, and it took
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you know, some check writing for myself and many great shareholders and some new,
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very big supporters to come online to get us through. And I held
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on. And you know a lot of people ask me, what was your
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main ingredient to persevere through all of this. Well, there was three things.
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There was the opportunity, no question, because it starts there. There
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was the constant improvement in our relations with the communities that are affected by this
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project, which was very enticing. And Thirdly, it was the outside interest
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of major mining companies, and I think we've checked the box of five or
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six of some of the larger ones in the world, and we kept getting
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a ten out of ten report card on the expiration opportunity. This certainly doesn't
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guarantee our discovery. But the way we're looking at this project right now is
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we view three to or four holes to confirm the thesis that we might have
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the next potential bombas in the world, and probably it'll take us three to
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three years minimum to find out it's not there. And that's the longevity that
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you want to have as an expiration investor behind your investment. You know,
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we're raising capital right now, and I'm sure we'll get into that in a
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moment, but we're going to get a couple of years of working capital and
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four different phases of drilling funded. That's our goal here, so that we
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can keep testing and testing, and if we get it right early, the
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chance to perform for a share price is going to be substantial. If it
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takes a bit more time to get it right, we at least won't have
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to go back to market to keep raising. So we're at a very very
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very pivotal flection point with Joe permits in hand that came in about two weeks
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ago, and getting our capital to go drilling here, which will start in
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about a month's time after the financing closes in May fifteenth. All right,
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so let's talk a little bit about the team of how it stands right now.
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Yeah, that's a great topic. You know, we started with some
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great geologists from Numont and you know it's rare to see this, but in
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the case here, you know, I have to say it did. The
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project actually outlasted some geologists, even though it has all the potential. And
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this is no fault to them. Is everyone loves the asset, but it's
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just time and pressure and concerns with industry. What we've been able to do,
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though, is bring in some new people to the team. Christian Rios
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or SVP of Corporate Development, who's based out of Lima. He's not new,
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he's been there from the beginning and he's been our key person, not
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just with communities arranging all of the great things we've done, but with the
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government in Peru to get us through the permitting process and give us some really
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good footing in country. Tim Kingsley's new he's been with us for about a
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year and a half. He's our VP of Exploration. He's got about nineteen
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years in the business. He's very prudent. I would say he's an understated,
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underspoken geologist. And the first thing when I showed him sombrero, when
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we showed him with our technical team, first thing I asked him was what
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do you think you know all these majors love the asset, the previous geologists
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love the asset. And he said, Ivan, I'm not going to tell
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you until I go see it myself. And he had to go to the
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project twice before he came back and finally gave me the big thumbs up on
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the project. And that's important because the more you look at the project,
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even the rock over my shoulder here in the video here, the more you
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look at the rock, the more you like it, and you get a
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bias that develops over time. And bringing somebody in new at the forefront of
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the project was fresh eyes and fresh perspective. Tim was the first person we
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added. The second one was Keenan Jennings, who I'd met back when he
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was with PHP and obviously there was interest in the project. Keenan comes from
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a very very impressive geological background. He had worked on Outogo for Rio Tinto,
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he had subsequently worked on had been to Sombrero and worked with a BHP
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as head of exploration. He actually had a familiarity with lost Bombas that supersedes
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all of us, where he was mapping lost Bombas back in two thousand with
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Anglo before that discovery was made. So he came on at the board level.
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His background has also got an MBA and he's a very very commercial minded
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economic geologist, so he actually thinks about the monetization part just the same as
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we do. And the combination with him Tim Kingsley, Christian Rios and Antonio
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Reebis was formerly the VP of Geosciences for BHP. Having those two executives really
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gives us the ability to punch well above our belt in terms of technical ability
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and to measure it a quality that you would hope to see at a major
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mining company. So that's how we've set ourselves up here as we're about to
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take on this exciting multi year exploration effort to go find the big One.
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I couldn't be more happier at the board level as well as on the team,
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having hungry geologists in their mid forties as well as a senior geologist you
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know, approaching sixty and early sixties. You got a combination of experience and
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knowledge with hungary and mature geologist on the team, which is this is one
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of the best teams I'm aware of globally right now. So this is multi
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year efforts. Year. It really has been a roller coaster. It's had
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its ups and downs, but yet you persevered. Yeah, the perseverance it
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came from the majors. You know, each time we showed this to a
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major minor, you know, it was was a very very consistent response.
11:18
This is a tenet of ten on an opportunity, a big opportunity for grade
11:22
from surface and scale that would measure you know, in our view that the
11:26
top ten potential global discoveries for copper. That constant narrative kept coming back from
11:31
the majors, which is what drove me and gave me that confidence that we
11:37
were chasing the right thing. We did consider looking at other assets at one
11:41
point just to mitigate the risk of this, but the team pulled really strong
11:45
in Peru and you know, time spent in the community doing great things socially
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and environmentally and with the farming and agriculture we brought in, it paid its
11:54
dividends. And so far, you know, we've been lucky twice out of
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three times on this project, lucky to find the project and have the opportunity.
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We've been lucky with the communities to get the access with them, and
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we can't wait to do more with them and provide additional jobs as we go
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forward. And the third luck we're going to look for us is at the
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drill bit to see if we can find something of substantial scale in this rising
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copper environment. And it is truly a remarkable time. And I wish Kerrie
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that I could take credit for planning it this well, but the copper market
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has certainly planned us as we see copper at around four to sixty three a
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pounds US as we're talking today, and we're just entering copper deficit here,
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which will be a lot more serious in the next years to come as electrification
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and the modernization of the planet with the new electric vehicles as well as AI
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initiatives are really pushing forward on the technical innovation demand. And I think copper
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as itself, it sits in a very tough spot for quality copper deposits.
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And then the last part about copper, which is really important and no one's
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talking about. This is three of the top ten copper minds in the world
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our schedule to shut down in the next ten years, to be at the
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end of their mind lives. And this just adds way more to already a
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really good copper market here of consequence, that's just starting to get started.
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And you know, the view we had back at Oran was that all commodities
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would pick up as we're going out to make these world class discoveries, and
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we certainly see gold and silver are starting to participate. The copper's kind of
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been the big, the bull leading one that's that's got everyone's attention. It's
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very easy to understand anybody with an electronic device or an electric vehicle or is
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building or renovating their house can understand the amount of copper that's needed. But
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a lot of things that I've said this before, the world got it wrong
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on the supply side. You know, we saw one minor disruption with the
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mine in Panama Cobre Panama versus Quantum's mind, and the impact of that is
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serious. You know, there could be more disruptions. You don't know.
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But at the same time, on the exploration side, which is what we
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do, it's even harder to find these things hard enough that will spend half
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my career chasing a big swing like Sombrero and our Copernicle main flagship asset has.
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And that's where we are today. We're about to get our financing complete
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and start with our first drill permits to start drilling in the next thirty to
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forty days. Amazing, amazing because I've been following the story for the better
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part of plus to five years now, and I to admit there are times
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I was scratching my head, thinking can you pull the rabbit out of the
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hat? Can this really be done? Or is he'd just taken on too
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big a challenge that no mere mortal can really overcome. Yeah. Well,
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I'm a shareholder first, Carrie, and i'm a coe second. And you
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know, from my original position at Oran, I bought over five and a
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half million dollars of Oran in the open market, up to as high as
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three seventy five per share. And I didn't buy that for any other reason
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than personal greed, and I thought we had it. The first half of
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that was buying because of Committee Bay. The second half of that position was
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because of the opportunity as Sombrero, and I've added more since then to keep
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the company going and get to this flection point where we are. I mean,
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you know, when I look at these companies that I'm involved in any
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aspect, I always look at as a shareholder first, and that's where the
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benefit has to come at the end of the day, secondary to the communities.
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And I learned on the social part with Keegan, our first company in
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Ghana, West Africa. We impacted eight thousand people with that discovery of fine
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million ounces, and those people today are continually benefiting from that footprint in terms
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of what we're doing here, whether we find a mine or not. But
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even if we do find one, long after the mind's gone or the money's
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made, this community is still going to be benefiting from all these agricultural programs
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and many different things that we're going to do with them over the years as
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we go on this adventure. So that's a really big gratification part. It's
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not just about the money. It's also about the people. But if you're
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an investor into our company and you've been able to wait this long and you
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still have your position. You're very lucky, and if you're new to the
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story right now, you're even lucky here because you're paying for nine years and
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you're paying for some perseverance and tenacity that is uncommon, especially in volatile,
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tough times. But the asset, the background, the feedback from third parties
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has been strong enough to give us that third party validation that we really have
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a shot here, and that points to me to the next point we're raising.
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We announced we're raising fifteen million dollars. We announced that a major mining
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company is buying nine point nine percent of Copernico, the entire company. This
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is a significant mote of confidence. Once again. Numont does own eight percent
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of the company and their most recent position was we want to see what happens
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with the drill bit. The new company coming in won't be named until the
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closing of the financing, but they jump that. They jumped the line on
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four others that we're looking at. It very serious, and the big challenge
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we had with some of these negotiations was a lot of the bigger miners wanted
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books to production or ways to invest at the project level, and we felt
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that would really limit our upside as what we've set out to do for shareholders,
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so weed it. We picked one of them that fits best with what
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we were looking for, and we're already developing an excellent relationship with them,
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and I think they're the right partner right now to drive this thing ahead.
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And we're going to be in a very very strong financial position here shortly as
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we close this financing in the coming weeks, and we're above interest on what
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we went out to raise, which was fifteen million. So we'll just be
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intelligent on a case by case basis to take the best shareholders and looks to
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go drill some of the best holes we can in this copper environment. And
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then I guess that's the next major step for us, and then the question
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will come down to how do we know if we've got it or not?
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And that's the next step. So in our presentation you can go to the
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back of the deck in the appendix, we've got a couple of slides from
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Los Bambus and if anyone's wondering if we already have holes that indicate that that
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thesis is in place or if it's going to continue, and if we're on
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to this big potential thesis that we might have major mind. I'd encourage you
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when you wait for a draw results to go look at those holes drill that
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lost Bombus and they range from forty meters to one hundred and fifty meters of
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point four to one point five percent copper. But they they're right from surface
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or near surface. They're continuous to a point where Lost Bombus has about one
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point six billion tons a point six percent copper. And to translate this to
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gold, that's about fifty million ounces of gold five zero million ounces of gold
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in gold numbers. And that's what we're looking for in copper scale. To
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give you kind of the gravity of how great this opportunity really is. Right,
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and then I guess once the financing is completed, you're moving ahead.
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Listing is going to occur at some point in the not too distant future.
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That's that's now the most asked question by shareholders. Everyone's wondering when we're going
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to list. Where we sit there is. We're filing our last documents.
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It's an A AIF and an independent technical report called the forty three to one
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filing those with the completion of this financing with the TSX, and we're looking
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to apply to list there and we hope to have a listing trading symbol within
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three to six weeks after that application is filed. It will be up to
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the exchange and how quick or long that takes, but we've done our best
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to have all documents in order, so stay tuned for further updates. Will
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be very, very very formal with our updates as they come, so we
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can give everybody a price there. Sorry, I'm in a symbol to look
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forward to for when this company might trade. And the recent financing was done
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at fifty cents with a half of warrant at seventy five cents. That's good
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for two years. Just to let everybody know what where we've recently valued the
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company. That's about a seventy million dollar valuation pre money, and this gives
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us, you know, I think a very fair opportunity based on the thirty
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five million we've spent and the nine years of time that we've put in to
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get to this point. So very exciting four to six weeks ahead from this
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interview that we're doing here, Carrie can't wait to trade. A very excited
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to turn the drills and see what we've got, all right, exciting times.
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I'm really happy you on shares as well in the comparticle and looking forward
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to when they become free trading on the market. But for sure it was
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worth holding out just for the story, the excitement and the future potential in
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any event to go over to coparticometals dot com sign up for email alerts so
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you will find out when the financing is completed and as well as when the
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inevitable listing will take place ed If you have any questions, just direct them
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to me, Carrie Let's k el at Carrie Lutz dot com Ada. Thanks
20:41
for stopping by giving us this update and we'll look forward to more. Thank
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you so much, and thanks for your patience and everyone else who had patients
20:49
with us and those who've written checks to help us get through. Thank you
20:52
very much for your support. And it's gone to a great place and some
20:56
great things are finally happening, so look forward to it and thanks again and
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carry the Financial Survival Network