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Fury Gold Finds High-Grade Gold at Serendipity with CEO Tim Clark · Financial Survival Network

• 0:00
  Speaker 1: We have large land positions next to big companies and
• 0:05
  Speaker 1: where our goal is to polish and bring forward a
• 0:09
  Speaker 1: level of interest by these producers to invest. And so
• 0:12
  Speaker 1: when you look at the Oa Claire property, you've got
• 0:14
  Speaker 1: the Oaclaire resource. Not only do you have perceval that's
• 0:17
  Speaker 1: been turned into a main resource, but you have serendipity.
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  Speaker 1: We've added a huge resource update last spring to the
• 0:25
  Speaker 1: Oak Claire or at almost one point nine million. Then
• 0:27
  Speaker 1: more importantly, it's become more economic and now you have
• 0:31
  Speaker 1: expiration upside. And so serendipity is the first one we
• 0:35
  Speaker 1: went out to and we've got more than a dozen
• 0:37
  Speaker 1: more in the property across a fifty five thousand hectors.
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  Speaker 2: The Financial Survival Network now more than it work, the
• 0:49
  Speaker 2: Financial Survival Network And welcome.
• 0:54
  Speaker 3: This is Financial Survival Network. I'm your host, Kerrie Letz.
• 0:57
  Speaker 3: We are sitting down for a sponsor update from Fury
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  Speaker 3: Goldmine CEO Tim Clark and chief geologist Brian Atkinson. Great
• 1:05
  Speaker 3: to have you back, both back on the show. Hey,
• 1:09
  Speaker 3: we got some great drill results, So Brian, let's talk
• 1:13
  Speaker 3: about these results. So what do you think the significance
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  Speaker 3: twelve point one six grams per ton over three meters
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  Speaker 3: in the and what does it say about the overall
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  Speaker 3: potential of the Serendipity prospect.
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  Speaker 4: Thanks Kerri, and great to be gat back. No, it
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  Speaker 4: was a great first sort of pass out there Serendipity.
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  Speaker 4: We had some bio geochemistry at omblies above it. We
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  Speaker 4: be like the geology that was underlying it and the
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  Speaker 4: geophysical signatures that we were seeing. So we went out
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  Speaker 4: and we had a small drill program out there this summer,
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  Speaker 4: and yeah, we had some good success and in a
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  Speaker 4: couple of goals there spread over, we drilled over five kilometers.
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  Speaker 3: Of strike length.
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  Speaker 4: Our two hits are two kilometers apart, so there's another
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  Speaker 4: meter at five point seven six grams coming out in
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  Speaker 4: that new released as well. And then and then the
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  Speaker 4: three meters at twelve sort of around Serendipity proper is
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  Speaker 4: you know, it's it's a lot to digest and and
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  Speaker 4: some new hits, new discoveries, so you know, it just
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  Speaker 4: it speaks to the overall potential of the of the area.
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  Speaker 4: And we've you know, and and the effectiveness of our
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  Speaker 4: of our biogeokim sort of geokim pass over top and
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  Speaker 4: then you know what's important there is we've done it
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  Speaker 4: elsewhere and we've got a lot of targets built up
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  Speaker 4: with that. With that, so now that we've proven it
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  Speaker 4: up at both Serendipity and Percy Valve, we're we're a
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  Speaker 4: lot more confident going out and uh and targeting off
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  Speaker 4: of that biogeokim survey.
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  Speaker 3: All right, So you mentioned that the two significant intercepts
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  Speaker 3: are separated by two kilometers. What do you think that
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  Speaker 3: indicates about the size and scale of the mineralization system there.
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  Speaker 4: Yeah, I don't know yet to be honest. You know,
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  Speaker 4: it's it's a really strong as as our most organic
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  Speaker 4: gold systems. It's got a strong structural component on the controls.
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  Speaker 4: We're close to the shear zones. You know. In the
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  Speaker 4: past we focused around the Canard deformation zone that runs
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  Speaker 4: along the southern part of the property, but we recognize
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  Speaker 4: the second set of deformation zones up to the north
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  Speaker 4: and running along the eastern side of the Oakla Air property,
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  Speaker 4: the Hashimoto deformation zone, so we targeted around there, and
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  Speaker 4: you know, these are deep seated regional structures that you're
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  Speaker 4: a key for organic gold systems. So there's a lot
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  Speaker 4: more work to do out there. But with the structural
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  Speaker 4: focus and having the overlay of the biologyio chemical anomalois
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  Speaker 4: on top of it. I think we're going to have
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  Speaker 4: more successful there for sure.
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  Speaker 3: So Tim, can you give us an idea right now
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  Speaker 3: of where Fury gold Mine stands, where you're heading and
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  Speaker 3: what you see for twenty twenty five.
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  Speaker 1: Oh no, that's a good question. Look right, Look, I
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  Speaker 1: think my thesis has always been to make few goal
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  Speaker 1: the best in class in the junior sector. As a
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  Speaker 1: up bull market starts to take effect, and I think
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  Speaker 1: the bull markets here, I think look at the goal
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  Speaker 1: price right now, and what company with these big producers
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  Speaker 1: are doing right now is paying off debt. They're going
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  Speaker 1: to look at maybe increasing their dividend a little bit.
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  Speaker 1: We're buying back shares, but as soon as they're done
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  Speaker 1: with that, they're going to start looking to spend that
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  Speaker 1: money on buying assets because they're rolling over in terms
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  Speaker 1: of production and they've got to find new expiration sites.
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  Speaker 1: And the junior space has had very little investment over
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  Speaker 1: the last decade. Most of their expiration has been around
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  Speaker 1: an existing mind to keep those going. But we're sensing
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  Speaker 1: and when we went out to Beaver Creek was the
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  Speaker 1: amount of producers that are looking at new assets is phenomenal.
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  Speaker 1: It's a huge uptick. We did some good investor meetings,
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  Speaker 1: but it was dominated by these producers looking at us.
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  Speaker 1: And what I look at as pure is we have
• 5:01
  Speaker 1: large land positions next to big companies and where our
• 5:06
  Speaker 1: goal is to polish and bring forward a level of
• 5:10
  Speaker 1: interest by these producers to invest. And so when you
• 5:13
  Speaker 1: look at the Oak Claire property, you've got the Oa
• 5:15
  Speaker 1: Claire resource. Now you have a new Not only do
• 5:19
  Speaker 1: you have perceval that's been turned into a maiden resource,
• 5:22
  Speaker 1: but you have serendipity. And so we've added a huge
• 5:26
  Speaker 1: resource update last spring to the Oak Claire were at
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  Speaker 1: almost one point nine million. And more importantly, it's become
• 5:33
  Speaker 1: more economic by the change of the grade of the
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  Speaker 1: or the angle of these veining systems, and now you
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  Speaker 1: have expiration upside. And so Serendipity is the first one
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  Speaker 1: we went out to. And we've got more than a
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  Speaker 1: dozen more in the property across a fifty five thousand hectors.
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  Speaker 1: And to give you an idea is that the southern
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  Speaker 1: border is thirty kilometers long that we owned the deformation zone.
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  Speaker 1: So when we sit down these producers, they're like, wow,
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  Speaker 1: this is different story. It's exciting, and they don't want
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  Speaker 1: they want big expiration. And a lot of these other
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  Speaker 1: junior companies are single acid mines that are on smaller
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  Speaker 1: properties and that's that's not where we are. And at
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  Speaker 1: the same time, you've got Newmont selling ellian or mine
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  Speaker 1: up north. It's only fifty seven kilometers north. We could
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  Speaker 1: you can drive a truck it around, you can put
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  Speaker 1: a new road in. At sixteen hundred dollars gold, maybe
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  Speaker 1: that wasn't the main objective, but at twenty six and
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  Speaker 1: going to three thousand, I think that's a much more
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  Speaker 1: feasible idea and you could see a lot more consolidation
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  Speaker 1: in the James Bay region. And that's that's how we're
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  Speaker 1: thinking it could go. What we're trying to do up
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  Speaker 1: in the up north it is to find more expiration
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  Speaker 1: upside and as well on the Eau Claire property, and
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  Speaker 1: that's our goal is to keep moving forward with that.
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  Speaker 3: You mentioned it the elephant, the room, twenty six hundred
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  Speaker 3: dollars gold. It seems to be going up by the day.
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  Speaker 3: All the experts are saying, no, no, it's going to
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  Speaker 3: pull back to twenty two to twenty three hundred, and
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  Speaker 3: then we're going to have to wait till Q one.
• 7:08
  Speaker 3: But here we are, you know, it's Q it's Q three.
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  Speaker 3: We're having this run up. How does the increased gold
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  Speaker 3: price change the appetite of the majors and how does
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  Speaker 3: it affect Fury?
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  Speaker 1: Well, I think the appetite of the majors, like I said,
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  Speaker 1: is every one hundred dollars it goes up, is massive
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  Speaker 1: windfalls of cash to them, and they are madly paying
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  Speaker 1: off debt from what I hear, and that's what you
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  Speaker 1: should be doing right now. But there's going to be
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  Speaker 1: a point where it's going to catch up. So the
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  Speaker 1: longer we stay above you know, twenty five hundred, I mean,
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  Speaker 1: it's just you know, at twenty two hundred, we're killing it.
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  Speaker 1: I mean a lot of these companies are basing their
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  Speaker 1: their A six or average cost much lower. And I
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  Speaker 1: think that I think it's going to have a windfall
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  Speaker 1: effect on the rest of the industry. You just have
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  Speaker 1: to give it a little time to play out. And
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  Speaker 1: what I'm sensing is much more intension. And once this
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  Speaker 1: starts going, you know, people will be scratching their heads
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  Speaker 1: how quickly because they forget how how small the junior
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  Speaker 1: space is, and there's you know, there's there's not as
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  Speaker 1: many quality names out there that they think and or
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  Speaker 1: with big land packages. So I think that it is
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  Speaker 1: going to come. I think if it stays about twenty
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  Speaker 1: six hundred, is going to come sooner than everybody expected.
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  Speaker 3: We haven't seen these prices before, and in a way
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  Speaker 3: it de risks these projects because they've kept their ask low.
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  Speaker 3: But on the other hand, it makes people nervous, like
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  Speaker 3: how long can this go on for? Right?
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  Speaker 1: Well, I'm in the camp that I think it's going
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  Speaker 1: over three thousand. I think that the US dollar, you know,
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  Speaker 1: is finally going to drop here with with the Fed
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  Speaker 1: rates and uh, it's been a pent up situation for
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  Speaker 1: a long time. Asia has been buying into gold and
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  Speaker 1: along with the other countries, they're they're pounding it because
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  Speaker 1: they they look at it as a geopolitical play as well.
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  Speaker 1: And I think it's sustainable and it doesn't have it
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  Speaker 1: doesn't even have to be sustainable. If you if you
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  Speaker 1: if you still have this cat, even if even if
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  Speaker 1: it goes down, you still have this massive cash fall.
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  Speaker 1: Because it's been a surprise to the majors, and they've
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  Speaker 1: all been much more disciplined than in past decades about
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  Speaker 1: how they spend money, and so they're gonna put it
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  Speaker 1: to use. They're not gonna, they're not gonna. I think
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  Speaker 1: the comment to me was, you know, they tried to
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  Speaker 1: get tricky a decade ago and maybe put their dividends
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  Speaker 1: up or lock them into gold pro gold price itself.
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  Speaker 1: Uh it, They're gonna keep it simple. They're gonna they're
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  Speaker 1: gonna probably increase dividends a little bit, but that. But
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  Speaker 1: more importantly, what they're missing is new discovery and it
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  Speaker 1: now they're going to have the budgets to go after it,
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  Speaker 1: and these companies are still really really cheap.
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  Speaker 3: So, Brian, my understanding drill program over for twenty twenty four.
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  Speaker 3: Now we're expecting results, more additional results. Can you give
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  Speaker 3: us a recap of what we can look forward to.
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  Speaker 4: Yeah, so the big ones coming out will be we
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  Speaker 4: completed the Biogucami grid at elbing Nor South and if
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  Speaker 4: you remember earlier I mentioned that we've proven that that
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  Speaker 4: technique works at Persvalance Serendipity. Now, so we'll be ready
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  Speaker 4: to drill ready there once we get those results in
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  Speaker 4: and then we'll just be permitting those colors. So yeah,
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  Speaker 4: we kind of go back out in twenty twenty four,
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  Speaker 4: but it's likely we'll wait till you know, Q end
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  Speaker 4: if Q one twenty twenty five to go out there
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  Speaker 4: and drill. And then we were also up at Community
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  Speaker 4: Bait for fresh Shore up program this year checking out
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  Speaker 4: you following up on that hit from twenty twenty one
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  Speaker 4: and our new Shares owned model and that. So we've
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  Speaker 4: got some GEOKM graids coming out of none of it
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  Speaker 4: as well. So it's been a few years since we've
• 11:01
  Speaker 4: been back up there, so trying to generate some excitement
• 11:05
  Speaker 4: up there and some new drill targets going forward there
• 11:08
  Speaker 4: and then new drill targets at Allien ourselves.
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  Speaker 3: All right, so we've got a lot to look forward to.
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  Speaker 3: There's really a lot going on here.
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  Speaker 1: Well, I think I think Carrie, we're super excited about
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  Speaker 1: this eleanor anomaly and when we get back the drill results,
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  Speaker 1: we're going to make a plan immediately to get back
• 11:30
  Speaker 1: out there as soon as we can. We've got two
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  Speaker 1: and a half million dollars of flow through money that
• 11:35
  Speaker 1: we've saved from the from the raised last spring. So
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  Speaker 1: we've got the cash to do it. And then Committee Bay,
• 11:42
  Speaker 1: I mean Committee Bay. We get zero valuation in our
• 11:46
  Speaker 1: stock there that's one hundred and eighty million dollars of investment.
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  Speaker 1: Don't tell me it's zero. And I went up to
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  Speaker 1: the summer. The land package is massive. There's millions of
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  Speaker 1: dollars in equipment. There's a full camp, there's a runway
• 11:58
  Speaker 1: to get in there. That thing is a plug and play.
• 12:02
  Speaker 1: And you know, once these majors start moving, that's the
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  Speaker 1: kind of stuff they really want and we're going to
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  Speaker 1: get We're going to get credit for it at some point.
• 12:10
  Speaker 3: Speaking of other opportunities. So it's still a large holder.
• 12:13
  Speaker 3: Fury still a large holder of the Dolly Varden of Obviously,
• 12:18
  Speaker 3: that gives you a great optionality, gives you, you know,
• 12:22
  Speaker 3: gives you the ability to finance without doing raises. Where
• 12:27
  Speaker 3: what's your what you're thinking towards your Dolly Varden holding?
• 12:31
  Speaker 1: Now I'm on the board of Dollie. We love Dolly.
• 12:33
  Speaker 1: Sean kun Kung does a phenomenal job. They continue to
• 12:36
  Speaker 1: move forward in their drill program. They just raised thirty
• 12:39
  Speaker 1: two million bucks, so they've got a ton of a
• 12:42
  Speaker 1: ton of money for the next year and a half,
• 12:45
  Speaker 1: I think silver prices are going to rip behind the gold.
• 12:50
  Speaker 1: They're thirty bucks right now, and you know, I've seen
• 12:53
  Speaker 1: it go up to fifty bucks no problem in environments
• 12:55
  Speaker 1: like this. So we're hanging on will click coupons as
• 12:59
  Speaker 1: we need money. But you know, and that's what it's
• 13:03
  Speaker 1: there for. It's not part of our strategy. It's a
• 13:07
  Speaker 1: source of capital ultimately for the company and to leverage.
• 13:11
  Speaker 1: And what I think it's allowed us to do is
• 13:13
  Speaker 1: probably be the low on the street in terms of dilution.
• 13:16
  Speaker 1: We've been around three to four percent for the last
• 13:18
  Speaker 1: three years in a row. I think it's a huge
• 13:21
  Speaker 1: svantage to investors because our share count is low on
• 13:24
  Speaker 1: a relative basis, but we've been able to keep moving
• 13:27
  Speaker 1: our projects forward and that's how that's how the Dolly
• 13:30
  Speaker 1: is going to play. I mean, I think I think
• 13:32
  Speaker 1: if you look around, there's very few silver plays, and
• 13:36
  Speaker 1: if silver goes, that's going to be a popular name.
• 13:39
  Speaker 3: What's the enterprise value now of the Fury minus the
• 13:44
  Speaker 3: DV holdings.
• 13:46
  Speaker 1: I think I once you take out our treasury, as
• 13:49
  Speaker 1: we've also got some other security, so it's probably around
• 13:53
  Speaker 1: fifteen to twenty million in enterprise value. It's, you know,
• 13:58
  Speaker 1: it just can't stay that way forever. I mean, it's
• 14:01
  Speaker 1: it's every time we sit down with investors, they're like,
• 14:03
  Speaker 1: how come it's so low. I mean, you can point
• 14:06
  Speaker 1: to arbitrage on the Dolly Varden shares that it's kind
• 14:09
  Speaker 1: of holding things back, or you can point to the
• 14:12
  Speaker 1: fact that people don't recognize what we've done with the project.
• 14:15
  Speaker 1: The last three years, we've been out marketing a ton
• 14:18
  Speaker 1: one investment by a producer into this company, and I
• 14:21
  Speaker 1: think it's going to get recognized and things are going
• 14:23
  Speaker 1: to take off.
• 14:24
  Speaker 3: I think. So. Finally, Brian twenty twenty five, what targets
• 14:29
  Speaker 3: are you most excited about?
• 14:31
  Speaker 4: Wells Tim mentioned the Elliot our South target, like it's
• 14:33
  Speaker 4: got all the hallmarks of being another Elliot or geochemically
• 14:37
  Speaker 4: Doe physically, geologically. We're just waiting on those last infill
• 14:43
  Speaker 4: survey results and then we'll be you know, pinted and
• 14:46
  Speaker 4: chopping at the bit to get out there and drill that.
• 14:50
  Speaker 4: By far, that's the most exciting target we've got in
• 14:52
  Speaker 4: the portfolio.
• 14:53
  Speaker 3: All right, So I guess we will leave it at that.
• 14:56
  Speaker 3: Make sure you go to the company website and sign
• 15:01
  Speaker 3: up for notifications so you can get the latest news.
• 15:05
  Speaker 3: I mean, that's what I do at Furygoldmines dot com
• 15:09
  Speaker 3: and of course the ticker symbol in US and Canada
• 15:15
  Speaker 3: is Fury. If you r y and gentlemen, been a
• 15:19
  Speaker 3: pleasure as always, Thanks so much for the update.
• 15:22
  Speaker 1: Thank you, Carry. It's great to be here.
• 15:24
  Speaker 2: Yeah.
• 15:24
  Speaker 4: Thanks.
• 15:25
  Speaker 2: Carry The Financial Survival Network