Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / 🎯 ALERT! 🎯 You MUST KNOW THIS ✓GOLD PRICE and Mining Stocks!.. (Silver Price Too)

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🎯 ALERT! 🎯 You MUST KNOW THIS ✓GOLD PRICE and Mining Stocks!.. (Silver Price Too) · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

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  We're seeing real lights now at certainly at the end of the
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  tunnel. I don't think it's another bear
• 0:06
  train coming at us. I think it's a legitimate new
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  dawn. We have a special webinar today.
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  Gold pushing up against new all time highs.
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  Silver trying to break above $30 per oz.
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  Will it continue? But what about this big
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  disconnect between high metals prices and low valuations with
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  within the precious metals mining sector?
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  I have two big guests for you today, Peter Grandich from Peter
• 0:38
  grandich.com. He has decades of experience on
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  Wall Street. He's appeared on most every
• 0:45
  major media outlet. And we have Dan Wilton.
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  He's the CEO of First Mining Gold.
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  They're a Canadian gold development company working on 2
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  flagship projects in Canada, both of which have multi million
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  ounces of gold in the ground. Dan, Peter, welcome to Ron's
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  Basement. Thanks, Ron.
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  Thank you for having me, Ron. Yeah.
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  So I have a question. It was interesting this morning,
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  guys. I looked back one year ago and I
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  was thinking if we were doing this webinar one year ago today,
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  we would be talking about $2000 gold and gold would be moving
• 1:23
  toward very quickly 1900 and eventually 1800, sometime around
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  September, October. Peter, what, what, what's your
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  take on what happened over the last year?
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  Because obviously now I think as we're recording this on
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  Wednesday the 15th of May 2024, we have gold at $2360.00.
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  And what, what do you think went on and and any thoughts on where
• 1:47
  we might be heading? Well, I think the single biggest
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  reason and it's something that has kept me maintaining a long
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  standing target of 2536 from under 1300.
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  But what was not pronounced then is clearly pronounced now and
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  that is an enormous amount of physical buy in by someone or
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  some group. There is some evidence, it's
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  obviously central banks, but it's for more than just a trade
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  or just a general investment. And what was most unique about
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  that is while that was happening other places where you would
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  have thought you would have seen additional buy in actually had
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  some selling. We saw some of the exchange
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  traded funds selling, we saw retail selling, we saw a drop
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  off in demand. Yet all this was occurring and
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  it overwhelmed thankfully the paper market, which has really
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  been a hindrance to the gold price, not a net positive,
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  especially when London and and New York controlled.
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  It's no coincidence, by the way, in my book that the moving to
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  Asia and particularly Shanghai of trading of metals has stymied
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  a lot of that paper resistance that used to exist.
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  And I don't think it's going to be able to resist, certainly not
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  on the level that it used to be. So there's a huge reason for
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  physical buying. My own personal guess, and I'm
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  not alone in this. I'm a big believer in the
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  bricks. I believe they're real.
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  I believe it's going to be, when it's all said and done, equal to
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  what industrial revolution was the World Trade.
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  So will this and some sort of alternative at least among
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  themselves, if not open to the general world of some sort of
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  currency or something backed other than by paper.
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  And that will be where the goal steps in.
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  And that's why I still believe it has quite a ways to go and we
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  haven't even despite this tremendous move.
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  And of course, it's obvious when we look at the mining shares and
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  the juniors especially, we haven't seen any real public
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  interest in this yet. It's not like it's well in the
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  tooth and you get in a cab or you go get a haircut and
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  somebody's asking what gold stock do you like.
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  You know, at that point in time, no offense to 1st mining or any,
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  that'll be a time to look for the exit.
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  But this is something that's evolving and it still has a way
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  to go. I'll only just say this wrong,
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  'cause I don't want to be the go on and on here.
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  It's not likely to go up in the same manner now in this leg as
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  we saw from the period you said until most recently.
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  But that's actually better. It'll be more sustainable.
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  And I and I think eventually, and we'll get to talk about it,
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  it'll pay dividends for those companies that explore for it,
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  develop it and mine it. Thank you, Peter.
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  Dan, any any thoughts from your end on, on the gold price?
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  Yeah, I know I I echo Peter's sentiments.
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  I think you know some of these, these larger buyers have been in
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  the market for a while and you're seeing them now kind of
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  really starting to disclose the central banks disclose what
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  they're buying. The other thing that Peter
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  touched on I think is having a massive impact is the transition
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  in China from a lot of retail investment in real estate.
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  So the real estate markets kind of rolled over and individual
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  investors looking for safety and protection are selling real
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  estate and buying physical gold. And that's part of the big
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  difference of you know the disconnect in in gold value in
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  China versus outside where you're seeing a a premium, you
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  know a big premium for physical gold in China.
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  So I I don't think that's going to stop.
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  I think we're in the first inning of that whole trade as
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  well. And as we've seen, you know,
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  there are lots of of examples of where you know the individual
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  investor in China has been able to really, really influence
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  ultimately where some of these commodity prices or you know
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  other asset prices have gone. Yeah, you know, I, I heard Peter
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  Schiff say the other day that the world is moving to gold
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  because it's in the interest of the world to move to gold.
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  That this, this worldwide movement that we're seeing in
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  China, India. You know, both of those
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  countries have 1.4 billion people and their middle class,
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  you know, is our our, our middle classes are growing, which is a
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  little bit different than what we have going on in the United
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  States. But there's a growing level of
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  people that that are really gold crazy and people are passing
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  around the story that in Korea, even South Korea right now,
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  there's like a gold craze going on and it's happening
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  everywhere. And Peter, you touched on this
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  and I think you did, Dan as well.
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  It seems to be happening everywhere in the world except
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  for in the US, Canada, you know, in the West as well and and and
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  I don't want to quote another, you know, well known person in
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  the precious metal sector. But Rick Rule has said before
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  that about silver and this applies to gold as well, that
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  they don't need to be loved in the United States.
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  They just need to be a little less hated and we could see a
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  crazy amount of demand like that's one of the potential
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  catalysts. So if if if we shift our focus
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  into the mining stocks, there seems to be a big disconnect.
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  I know you know I invest heavily in precious metal mining stocks.
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  Dan, you're the CEO and Peter, I know it's safe to say that
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  you're interested in the precious metal mining stocks as
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  well. We're seeing a big disconnect.
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  While gold has has performed great, it's like A Tale of Two
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  Cities. Gold's doing awesome, but the
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  mining stocks haven't quite caught up yet to the gold price,
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  creating what a lot of people, including myself, see as an
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  opportunity gap. Peter, any thoughts on on what's
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  going on there? Well, we can spend hours on it
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  because, you know, at one time this was a a big part of my life
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  for 25 years. I exited in 2013 and only dipped
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  my toes back. I don't think I'll ever get back
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  in full, especially as I get into the twilight of my career
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  here in the States in the planning business.
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  But I think some of the things that have changed I can notice
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  compared to when I was first of all, the type of people that
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  would be buying those type of shares, particularly here in
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  North America used to go to a gold show 20 years ago.
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  There were hundreds of stockbrokers.
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  We were then called financial advisors later that built book
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  of businesses around these companies.
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  And if you got one of them interested, you got their
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  clientele interested. Individual financial advisors
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  now don't really build book of business on individual stocks
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  because there's no commissions in it.
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  You know, commissions are basically zero or a few dollars
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  for a whole purchase. That was a big that was a big
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  loss because those same mining companies still have to seek
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  those end users. But now versus one person who
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  led to dozens if not hundreds, you almost have to get to those
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  end users, if they still exist to the level on a case by case
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  basis. The second thing that impacted
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  is the brokerage communities made it nearly impossible here
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  in the States, even if you have an OTC listing, but you trade in
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  Canada, they won't even allow unsolicited orders, even at
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  discount brokers now. And of course the regulatory
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  people got overwhelmed by making it almost impossible to say
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  anything. And you say, well you have to
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  say anything that is real and exploration is all hope.
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  I mean it there is some points that point to it, but you are
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  speculating. And then I think the last thing
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  that really impacted it was competition and and no bigger
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  competition has come from the cryptocurrency market.
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  Now I I don't believe in it. I call it the biggest cult and
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  biggest hyped investment product in man's history.
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  I think the tulips will be impressed when it's all said and
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  done, but it definitely impacted the type of players that might
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  have otherwise come to our market.
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  So I think the first thing we have to accept, especially those
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  of us that have been in it for quite a while, is we may not
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  have the same people participating.
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  But here's the key to all of this.
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  As disappointing, as frustrating as it's been, and I'm been
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  frustrated just like anybody else's years ago we had cycles,
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  we had economic cycles. The shares went up.
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  It was good. As soon as things started
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  slowing down, metal prices went down, the shares went down with
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  them, and there was ample supply of those metals sitting
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  somewheres. That's not the case for a lot of
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  metals, especially in the base metals.
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  And therefore, the inevitable rebound in those shares will
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  come because prices staying here will only inevitably draw down
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  whatever may still exist there. We're seeing that in copper now.
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  You know, copper, I don't think people realize what kind of move
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  there's been in less than six weeks.
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  It's gone up 25% in price. That's just basically unheard
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  of. And why?
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  Because there's a real concern of an actual shortage out there,
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  legitimate shortage, not just a squeeze.
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  So I think it's frustrating that it's been and no one has been
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  more frustrated than me. A good part of my personal
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  portfolio outside of conservative stuff is in junior
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  resource stocks. But I think it's you have to get
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  past that anguish and anger and understand that if prices
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  continue to perform as they are, you're going to see it.
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  And let me just add 1 little thing because I don't want to be
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  the whole speaker here. We're already seeing it at the
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  top end of the business. We've seen an aggressive now
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  move by majors a lot to other majors, most recently BHP with
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  Angle, but we're seeing it filtered down to the junior
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  market as well. It may not be earth shattering
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  and the private placements may not be overflowing with capital
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  again, but we are seeing the turn and so therefore eventually
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  these share prices and the positive about that is these
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  shares, these juniors have been so low for so long that the
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  average cost that somebody sitting with has been weeded out
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  whenever they might have been a lot higher.
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  So there's not going to be a lot of resistance of stock that come
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  at you if and when they do turn and and that's the hope I think
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  that we know that have we have best going for us for those that
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  believe in the junior market. Yeah.
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  You know, Peter and I think you and I have talked about this in
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  the past that anyone who's owned junior mining stocks has been
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  through a painful period. There's no other way to say it
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  basically, but that most people who were going to sell have sold
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  already and one of our previous guests had talked about that's
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  built like a solid base potentially of shareholders from
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  which you know when things do start to move and we don't even
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  need the taxi cab drivers to be talking about junior mining
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  stocks. We'll be happy if just maybe in
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  the general stock chat rooms somebody mentions junior mining
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  stocks because at that point it's not going to take a lot to
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  to result in big moves with within those within those
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  markets it's been beaten down so low.
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  I always you know try to look at it optimistically like the the
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  the sentiment had been beaten down so low.
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  But the good part about that is the runway for improvement is so
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  much larger that we could see some exciting returns.
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  Dan, what are your thoughts on what's going on in the the
• 13:52
  junior mining sector right now? Well, I, you know the junior
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  mining sector, this is the view from the coalface.
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  Peter's right, the access to capital has been, has been a
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  real challenge over the course of the last number of years.
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  You know the reality is we're in I think year 12 of a bear market
• 14:10
  right now. It really, the market really
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  rolled over in 2011. We've had a couple of upswings
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  over the course of the last last 10 years, 2016 briefly, 2020
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  briefly and all that in a in a backdrop of where the commodity
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  price has now gone to a level where you know the industry is
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  actually really healthy. With the exception of the fact
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  that the large producers have not been replacing their
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  reserves. They're still spending money on
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  exploration. They're just not finding what
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  they used to be able to find and that's in large part because
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  everything that's easy to found, to find has been found.
• 14:49
  So I think we're we're at a very interesting point here where you
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  know Peter's seen this in a number of cycles, we've all seen
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  this in a number of cycles. It's that first drive for the
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  producers when the commodity price moves, the producers have
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  the most immediate leverage to the gold price through increased
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  cash flow. I was looking at at one of the
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  brokers sort of daily reports yesterday looking at you know a
• 15:14
  lot of mining companies first quarter, you know first quarter
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  results and sure enough like I think there were 10 companies
• 15:21
  that have reported and nine of them had beat expectations.
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  It was just beep, beep, beep, beep, beep, expanding margins,
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  increasing free cash flow. So for a long time the, the, the
• 15:33
  thing that's really been missing here that often jump starts that
• 15:37
  rally in the junior sector is the action of the industry.
• 15:40
  It's those strategics, it's the mining companies that need to
• 15:44
  replace the reserves. They've never needed to replace
• 15:47
  them more than they do now and they haven't been investing over
• 15:51
  the course of the last, really over the course of the last 10
• 15:54
  years with the exception of you know sort of targeted shots AT.
• 15:59
  And we follow this very closely because it fits pretty
• 16:01
  importantly for us targeted shots at you know particularly
• 16:06
  large and in our case Canadian based development projects.
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  And if you go back and look over the last five years, you've seen
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  a number of large Canadian projects that have been acquired
• 16:19
  pre production for $500 million to $1.8 billion.
• 16:25
  So you know it's it's been happening kind of quietly in the
• 16:29
  background, but that's where I think you're going to start
• 16:32
  seeing this activity. When there is this gap and and
• 16:35
  the gap in valuation between the gold price and producers is one
• 16:39
  thing and that's real. It will close faster.
• 16:43
  The gap in value between the producer and the developer is
• 16:47
  that probably the widest that I've seen it in my 30 year
• 16:51
  career. And that gap always always gets
• 16:55
  closed by the M and A market eventually.
• 16:57
  So you know for all that the companies are being applauded
• 17:00
  for capital discipline and this time it's going to be different
• 17:03
  and we're going to return all the capital to shareholders.
• 17:06
  The reality is this is still an extractive industry.
• 17:09
  When you produce an ounce of gold out of your reserves, it's
• 17:12
  gone forever. And if you don't replace it,
• 17:15
  your business will decline in, you know, 10 to 12 years.
• 17:19
  So that investment is necessary and that's where I think you're
• 17:23
  going to start seeing increasing activity in the second-half of
• 17:26
  this year. If you're looking to buy gold,
• 17:28
  silver, or platinum, do yourself a favor and check out PIM Backs,
• 17:33
  the online precious metals bullion dealer and sponsor of
• 17:37
  Ron's Basement. I was a happy customer before
• 17:40
  they offered to support the channel.
• 17:42
  You'll find they have the best prices, quality and service.
• 17:47
  I think Pembex is best and you will too.
• 17:50
  And be sure to tell them that you're from Ron's basement.
• 17:53
  So. So if I were to paint this with
• 17:55
  a a broad general brush, we could say that right now the big
• 17:59
  mining companies #1 have very healthy balance sheets #2 in the
• 18:06
  current price environment. They are generating tremendous
• 18:09
  amounts of cash flow, but at the same time they're running up
• 18:14
  against a situation where their pipelines have been running dry.
• 18:19
  So they're going to be sitting there with a lot of cash and and
• 18:24
  needing to deploy that to to to build up their their pipeline
• 18:29
  basically and and as a result they'll go looking for
• 18:33
  potentially go looking for junior developers to to kind of
• 18:37
  to to fill that to fill that need.
• 18:40
  I I think if they don't replace it, if they don't find it with
• 18:43
  exploration, they're going to have to buy it somewhere.
• 18:45
  So they might be just go and buy other producers, which you've
• 18:49
  seen quite a bit of that sort of solves the problem immediately.
• 18:55
  But realistically, even those other producers are going to
• 18:58
  need to replenish their reserves at some point, and the only way
• 19:01
  they're going to find that in size is in taking on new
• 19:05
  development projects. Yeah, interesting.
• 19:08
  Peter, any thoughts on that on that point?
• 19:11
  Well, one thing I think has to happen as well and I agree with
• 19:14
  everything Dan said there is that some of the smaller
• 19:17
  producers will need to align themselves because they're being
• 19:22
  shut out of the institutional market.
• 19:25
  You know they get to a point in time when you you you you go
• 19:28
  from a junior to significant producing and you're just not
• 19:31
  involved with you know people buying a couple 1000 shares.
• 19:34
  You're involved with institutional money and because
• 19:37
  the way that it's been challenging to get institutional
• 19:41
  following that basically if you're not in one of the
• 19:43
  exchange traded funds or what have you, it's very difficult.
• 19:47
  I think where else you're gonna see the mergers not just from
• 19:49
  the top and the producer end but on the smaller ones to to to
• 19:55
  become more attractive for that eventual take out by by one of
• 19:58
  the majors as well. They'll also need to be because
• 20:02
  for. You know Dan made a very good
• 20:04
  point which I don't, I don't hear a lot of people saying it's
• 20:06
  good to hear a guy from a mining business saying it's been a 12
• 20:09
  year bear market. I left the 2013 because between
• 20:13
  11 and 13 we went from the, we went from the top of the
• 20:16
  penthouse to the basement that fast.
• 20:18
  Hey. Watch it.
• 20:21
  Oh, I forgot about that. Well, anyway, but the bottom
• 20:26
  line is a lot, A lot of juniors are running on empty and it's
• 20:31
  it's going to need to be a recapitalization mergers out of
• 20:35
  necessity. But all those things, something
• 20:38
  you said, Ron, was critical is we have such a long basin cost,
• 20:42
  the average cost of what people are holding, these stocks have
• 20:45
  been brought way down. So there's not going to be a ton
• 20:48
  of resistance when they do turn up.
• 20:50
  And that's why it it some people want to be conservative and you
• 20:53
  know, wait till you see it move. But it's gonna move and not come
• 20:56
  back the way you hope it's gonna be.
• 20:58
  That's gonna be the miss. It's gonna move and just keep
• 21:01
  moving. It's kind of like what Coppa did
• 21:03
  in the last six weeks. All of people said, no, this
• 21:05
  Coppa doesn't move like this. It's gotta come back.
• 21:07
  Well, it moved 25% in six weeks. That's just it's unheard of and
• 21:13
  certainly not anything that I can remember in 40 years.
• 21:16
  Yeah, yeah. Yeah.
• 21:17
  We, as I talked about building that base, you hear that term
• 21:21
  capitulation like when people give up and and sell and I think
• 21:25
  the entire junior mining sector unfortunately feels like it went
• 21:29
  through about four or five phases of capitulation in the
• 21:32
  last three years. So this could be like the most
• 21:35
  solid base ever, Peter. We will.
• 21:38
  We we could potentially really take off out of the basement and
• 21:41
  you never know, I might be broadcasting to you from the 2nd
• 21:44
  floor at some point. Well, I'll just say that the
• 21:47
  capitulation in the junior was taken to a new low level.
• 21:50
  I called the suicidal level because realistically when we
• 21:55
  ended last year, we all can't get any worse.
• 21:58
  And we initially started this year as where we left off.
• 22:02
  And I have to tell you, I was getting so beaten up and I'm
• 22:05
  just talking about the wife beating me up, let alone my
• 22:07
  followers and friends and clients and all.
• 22:10
  But we're seeing real lights now at certainly at the end of the
• 22:15
  tunnel. I don't think it's another bear
• 22:17
  train coming at us. I think it's a legitimate new
• 22:20
  dawn. And one thing I like to mention
• 22:23
  so we don't miss it. And this may play into first
• 22:25
  mining, but I'm not saying it because of that.
• 22:28
  I'm saying that no matter who is on with you, where you look for
• 22:32
  metals now is really critical. 25 years ago, if Dan and I were
• 22:36
  at a show and we spun a globe and we said we landed there,
• 22:40
  yeah, we can go there. Not anymore.
• 22:43
  The world has shrunk dramatically.
• 22:45
  We've seen a lot of reasons why anybody, particularly majors
• 22:49
  before, they spend hundreds of millions of billions because of
• 22:52
  social and political things happening.
• 22:54
  And quite frankly took my own book.
• 22:57
  It's why I will only look at North America right now and even
• 23:00
  there I'm not going to go to California and put any money in
• 23:03
  something like California. But I think where a company is
• 23:07
  exploring, developing and producing is going to play a
• 23:10
  critical role now when that wasn't the case 20 or 30 years
• 23:14
  ago. Yeah, well you you you took the
• 23:16
  words right out of my mouth, Peter that was my next question
• 23:19
  is you know with this geopolitical environment, I mean
• 23:22
  the world is fracturing, how important is it to be in
• 23:26
  jurisdictions like Canada And I think both Dan and you have a a
• 23:31
  keen interest in one of the provinces, but all of them I
• 23:34
  know Ontario but also Quebec. Dan what what what's your
• 23:39
  thoughts on this? How important is it for a
• 23:42
  company to have, you know, projects in North America?
• 23:46
  I think you, you know, you just have to look at everything
• 23:51
  that's gone wrong in a lot of other parts of the world, right.
• 23:57
  I think for all that investors in big projects in Canada
• 24:02
  broadly and I'll talk, I can talk with experience from
• 24:05
  Ontario and Quebec more specifically.
• 24:09
  But for all that investors wring their hands about permitting
• 24:12
  time frames and process and cost and make no mistake it is
• 24:18
  expensive and time consuming to permit projects in Canada.
• 24:22
  And all the regulators say they're, you know, trying hard
• 24:25
  to make it work in any other way, but it's, you know it's
• 24:29
  it's a challenge. You need to have a group with
• 24:31
  the financial resources and backing and following to be able
• 24:35
  to make it to the end of that path.
• 24:37
  And we know because in Ontario we're 6 1/2 years through an 8
• 24:41
  year process right now. But I I think when it comes to
• 24:45
  the strategic nature of those assets and we really measure
• 24:50
  ourselves against other you know similarly sized 5 million oz
• 24:54
  plus gold assets in Canada and 1st Mining.
• 24:57
  As it turns out, we now when you look at at the ones that are in
• 25:00
  construction right now or finished most of them by the end
• 25:03
  of this year, we're going to own two of the ten largest
• 25:06
  undeveloped gold projects in Canada and a couple of the next
• 25:09
  ones that could actually be permitted and you know, be
• 25:13
  towards a construction decision. In all of our discussions with
• 25:17
  bigger companies, jurisdiction is, you know, if it's not #1,
• 25:21
  it's #2 on the list, right. And so you know, jurisdiction
• 25:26
  means a lot from a permitting perspective, but also just
• 25:29
  location, infrastructure, how difficult is it to, you know,
• 25:34
  'cause not every area in Ontario is the same.
• 25:38
  There's a lot of places that are a lot further from
• 25:41
  infrastructure than than a couple of our projects are.
• 25:43
  So, no, I I think it's you don't have to ask anyone other than,
• 25:47
  you know, someone who's been on the board of a company like
• 25:50
  Sentara. You know, it was one of those,
• 25:52
  you know, what could go wrong with owning the biggest mine in
• 25:55
  Kyrgyzstan? Well, as it as it turns out, you
• 25:58
  know, quite a bit. So.
• 26:01
  The jurisdiction is critical. Yeah, yeah, yeah.
• 26:05
  And I I own Kenroth stock at one point and they had a mine in
• 26:09
  Russia, which let's just say, I don't think they have that mine
• 26:13
  any longer. So jurisdiction I think is very
• 26:16
  important. Dan, you touched on first mining
• 26:21
  and a little bit about the projects, but will you tell our
• 26:25
  viewers a little more about, I know obviously there's two multi
• 26:29
  million ounce projects, flagship projects and then maybe touch on
• 26:32
  the other, the four other related projects as well?
• 26:36
  Sure. So the main projects that we're
• 26:40
  moving forward are most advanced is the spring pull gold project
• 26:43
  about 100 kilometers from Red Lake ON.
• 26:47
  We're in advanced stages of the environmental assessment
• 26:49
  process. They're targeting submitting our
• 26:51
  final environmental assessment documents in let's call it
• 26:56
  September of this year. And then from there targeting EA
• 27:00
  approval kind of by the end of 25 both federally and
• 27:03
  provincially. And that's important because
• 27:05
  when you actually look at that list of 10 largest gold projects
• 27:09
  in Canada that I was talking about before, there's not that
• 27:13
  many other projects. There's only a couple other that
• 27:16
  are actually going to have permits in a time that these
• 27:18
  projects could be built before 20-30.
• 27:22
  So it it is pretty unique from that perspective.
• 27:26
  So spring pole, you know one of the largest mines in Canada that
• 27:30
  can has potential to produce more than 300,000 oz a year.
• 27:34
  So it's moving forward. You know I think we're very
• 27:38
  excited about that. Our other main project is in
• 27:41
  Duparque in Quebec, which is about 3 1/2 million oz measured
• 27:46
  and indicated about another two and a half million ounces of
• 27:49
  inferred resource. We put out an economic study on
• 27:53
  that last year that showed a project capable of producing in
• 27:59
  excess of 200,000 oz a year. So big, meaningful scale, but
• 28:04
  this project is smack in the middle of the Abbott Tibi gold
• 28:07
  belt. So we're half an hour from a
• 28:09
  smelter and ruined oranda. We're, you know, an hour and a
• 28:12
  half to Timmons, an hour and a half to Valdor.
• 28:14
  You have literally every mining contractor and supplier in the
• 28:17
  world within an hour and a half drive.
• 28:20
  It's an unbelievable place to develop a project.
• 28:23
  It's actually 3 past producing mines on the property that we've
• 28:27
  consolidated around. And now moving forward, they're
• 28:32
  trying to understand really what some of our other alternatives
• 28:35
  are potentially for a bit of a lower capital, potentially
• 28:40
  quicker to cash flow scenario around DU Parquet.
• 28:44
  But it's even sitting as it is today in the scale and size that
• 28:48
  we scoped at one of the highest grade open pits in Canada in the
• 28:51
  middle of, you know one of the most sought after jurisdictions
• 28:54
  on the planet. So really exciting things
• 28:57
  happening at DU Parquet and then the rest of the portfolio, you
• 29:01
  know we still own 30% of Pickle Crow which is one of the highest
• 29:06
  grade, one of the highest grade underground deposits in Canada
• 29:12
  being advanced by our partners Firefly Minerals.
• 29:15
  We still own the Cameron project which is about 80 kilometers
• 29:18
  from Rainy River. We own that 100% about 1/2 a
• 29:23
  million ounce Salmon I and half a million ounce inferred
• 29:25
  resource at Cameron, A ton of work done on that project
• 29:29
  historically. We don't talk about it much, but
• 29:32
  you know taken to feasibility in the 80s and 90s, it's got a ramp
• 29:35
  down into the deposit that goes down 300 meters developed into
• 29:38
  ore on three levels. Like there's a lot to like about
• 29:41
  about the Cameron project and we still own now a little bit less
• 29:46
  than 10% of treasury metals. But they're obviously getting a
• 29:51
  bit of a new life breathed into that story with their
• 29:54
  combination with Black Wolf and bringing in Frank Giustra and
• 29:58
  the and the Fiore Group. And that network is large
• 30:01
  shareholders. So we're expecting great things
• 30:03
  from Treasury. And last but not least, we still
• 30:07
  own 20% interest in the Hopebrook project that our
• 30:12
  partner Big Ridge Gold is moving forward.
• 30:15
  So that's doing a great job of growing and defining a resource
• 30:21
  on the South Coast of Newfoundland and and what's
• 30:23
  become you know one of the hotter exploration areas in
• 30:27
  Canada. So in total you know the the
• 30:32
  total number of Oz were you know puts us in, in a a size and
• 30:38
  scale that's meaningful and meaningful to any large producer
• 30:43
  that needs to replace those reserves.
• 30:45
  But more importantly, I think a couple of our projects are some
• 30:49
  of the most advanced large projects in Canada.
• 30:51
  We're just really not getting any credit for certainly in the
• 30:55
  share price for how advanced those are major, major catalyst
• 30:59
  coming up in this company in the next 18 months.
• 31:01
  Yeah. And and when you do comparisons
• 31:03
  on many different financial metrics, the the valuations are
• 31:08
  astounding right now. I know that for instance if you
• 31:13
  just look at the amount of money that was spent on drilling at a
• 31:16
  lot of these projects by both first mining and previous
• 31:20
  operators, it's just it's crazy the amount of the amount of
• 31:25
  money that's gone into the projects.
• 31:28
  I know the first mining picked a lot of these up Keith Neumeyer
• 31:31
  when he founded the company at at bargain basement prices back
• 31:34
  in 2015. Sixteen but a real a real
• 31:39
  opportunity. Dan thank you.
• 31:41
  If people want to learn more about first mining gold, they go
• 31:44
  to firstmininggold.com. Peter, any final words before we
• 31:49
  we sign off? Tell that bear behind you his
• 31:53
  days are numbered. He's gonna have to buy a new
• 31:56
  blindfold pretty soon, Peter. Well, I I tell you the truth,
• 32:00
  you know I have had a long, a long standing target of 2536 and
• 32:04
  it was derived when we were going through this cup and
• 32:06
  handle formation that had gone on for almost 12 years.
• 32:10
  And I would have said to you even five weeks ago, maybe end
• 32:16
  of this year, maybe next year, I think it could be a lot sooner.
• 32:20
  I think it could be in a matter of weeks.
• 32:22
  I really do. And I think that type of action
• 32:27
  now and and staying up there will bring people who otherwise
• 32:31
  have A and one other comment I wanted to make earlier on.
• 32:34
  I think it's important because Dan brought it up about the
• 32:37
  Chinese and buying and all. One of the reasons they're doing
• 32:40
  that and not buying Bitcoin at all, because they've grown up in
• 32:44
  a society where, hey, here today, gone tomorrow, they want
• 32:48
  to own something. Something that they can drop in
• 32:50
  their foot and hurt, they can hold not be on a computer
• 32:53
  somewhere, is that some Ledger says it's sitting somewhere.
• 32:56
  That's one of the reasons they have not flocked to.
• 32:59
  And I think one of this money stymie reasons why the
• 33:02
  cryptocurrency market will never, ever, ever beyond the
• 33:06
  same scale as the gold market. Not to say it won't still exist
• 33:10
  sometime after another loss of a trillion dollars or Morris as
• 33:13
  some of these things eventually blow up.
• 33:16
  But it's never going to compete with gold gold's work for a
• 33:18
  couple thousand years. And I don't see any expiration
• 33:22
  date on it, no matter how many of these crazy 21st century
• 33:26
  snake oil salesman that come on and tell everybody sell
• 33:29
  everything you own gold, real estate stocks and buy Bitcoin.
• 33:33
  I mean that's that is that's scary in itself.
• 33:36
  So I I remain very, very optimistic and I think gold will
• 33:40
  prove what it's always proven and will continue to do so and a
• 33:44
  lot sooner on that bear losing that blindfold.
• 33:48
  Well, that's right. And I have to add in that Dan
• 33:51
  Wilton actually paid a in person visit to the basement about a
• 33:54
  year and a half ago and it it it saw the bear in person.
• 33:58
  So yeah, it'll be a big day when we take the blindfold off the
• 34:02
  bear, when we when we hit and stay above 20.
• 34:05
  Five day extend and does Ron actually come out from that
• 34:08
  basement? Some people thinks he lives
• 34:10
  there 24. And his wife just brings the
• 34:13
  food down just. Curious.
• 34:15
  He's working on the gold and silver.
• 34:17
  No, I can. I can attest to the fact that
• 34:19
  there is in fact a main floor. So no, it's wonderful.
• 34:24
  We had a chance. Yeah, it's.
• 34:26
  It was almost a couple years ago, Ron, I think in the summer
• 34:29
  where we swung through and you know, I had a great, a great
• 34:32
  chance. Still, my favorite baseball cap
• 34:34
  I'm wearing is the the cards cap that I got at the baseball game
• 34:38
  that when Ron and I went, when we were there.
• 34:40
  So we got to get, we got to get scheduled to go back.
• 34:42
  I'll tell you what, here's my commitment.
• 34:44
  Gold's over 2500. I'm coming to the basement.
• 34:47
  I want to be there when the when the blindfold comes off.
• 34:51
  So that goes. My T-shirt sale was free, Ron
• 34:54
  Now. Kind of.
• 34:56
  You know, you know, the only mistake you guys made is this is
• 34:59
  my mom's basement. But no, I'm just joking.
• 35:03
  Hey, it's been great. On behalf of myself and our
• 35:06
  viewers, you guys are both Peter and Dan, two people that I
• 35:10
  really like but also have a great deal of respect for.
• 35:13
  So thank you for, you know, being part of this webinar.
• 35:17
  I think we shared a lot of great information for our viewer and
• 35:21
  I'll look forward to seeing both of you guys again soon.
• 35:24
  Well, thanks, Ron. I appreciate it.