Latest / Financial Survival Network / Fury Gold: Big Projects Next to Big Producers CEO Tim Clark

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Fury Gold: Big Projects Next to Big Producers CEO Tim Clark · Financial Survival Network

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When I first was here and sitting down with investors whom we're talking about making
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this a turnaround story. Now, I would argue all the that's behind us,
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and we're one of the marquee names in the junior exploration space in gold.
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There's a very few, if anybody, who has the same capital structure
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as strong as we do with this. We've got seven million dollars in the
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treasury. At the end of the year, We've got we had a productive
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year. Drilling we did. We planned was for fifteen meters. We end
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up getting nineteen thousand meters. Ran gave me back a million dollars that he
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didn't spend. I mean, we're executing the Financial Survival Network now more than
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ever the Financial Survival Network. Welcome, this is Financial Survival Network. I'm
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your host, Carrie Leutz, and hey, I'm really happy to get a
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sponsor update from Fury Gold Mines CEO Tim Clark and SV of Exploration Brian Atkinson,
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hoping to shed light shed some light on the latest significant mineralization uncovered at
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the Hinge target. Intercepted thirty one point seven seven grams per ton of gold
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over three and a half meters and eight point seven grams of tellurium mineral I
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am not familiar with, but evidently has some value of eight point oh seven
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grams per ton, again over three and a half meters. Really exciting.
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Tim, Hey, your thesis, your whole strategy for fury looks like if
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being validated here as if it needed to be validated. Now listen, No,
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we're throwed these results on back of some other results out of perceval.
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So we're hitting gold. And the best part about it is it's starting to
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be very predictable. And I'll let Bryan sort of allow grate more there.
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But look, the goal here is to get the ounces up at Auclaire.
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The plan is to have a resource update once we get all these assay results.
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We've got some more holes to report once they're in, and then we
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can move forward with the update and that should give us and potential buyers,
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you know, a real metric number and the analyst on the street to sort
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of revalidate their models. And then the goal would be to keep looking and
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out into the east and try and pull some of these anomalies upward and forwards.
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If we can show that there's a string of pearls along on this kind
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of our deformation zone with a resource I think it goes a long way to
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sell this story and validate, you know, the value the valuation out of
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the company. And unlike many of your peers who literally have been on Karen
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maintenance over this really depressing period in the sector, you've been expanding your projects
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and you're welcome capitalized, so that kind of makes you unique in the sector.
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Look, I came on here, you know, almost two and a
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half years ago now, and when I first was here and sitting down with
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investors, when we were talking about making this a turnaround story. Now I
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would argue all the that's behind us, and we're one of the marquee names
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in the junior expiration space in goal. There's a very few, if anybody,
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who has the same capital structure as strong as we do with this.
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We've got seven million dollars in the treasury at the end of the year,
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We've got we had a productive year and drilling we did. We plan it
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was for fifteen thousand meters. We end up getting nineteen thousand meters. Brian
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gave me back a million dollars that he didn't spend. I mean, we're
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executing and these guys are doing it right at the same time. You know,
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I think that if you're looking for investment in some of these junior companies
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as you see the cycle and gold coming, if we're not on your tie
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top five sort of looks, I'd be surprised. We're well positioned with cash.
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We've got fifty million dollars in Dolly stock that looks better this year than
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it did last year. Just to point out, Heckla just took another five
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point six percent of the company last fall, so they're up to fifteen point
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six. They're demonstrating there they've got more to go. Dolly's got only two
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thirds of their drill holes out, We've got more drill holes. We've got
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a resource update. You were were in a great spot, So Brian got
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ten more holes left to go. Five in the Hinge. Five in perse
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all, what what are you what are you looking here for? What are
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you expecting? I should say, well, I think you know Tim alluded
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to at this at the start there that this, you know, the Hinge
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has become really consistent and really predictable for us. So you know, I
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think we're going to see, you know, some of the same that we've
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put out in the last four Hinge news releases year. Right, some some
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good widths, some good grades, and nice consistency multiple zones in each hole.
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You know, this is a really nice sort of area. And this
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last round of resort results that we've just put out are actually the shallowest that
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we've we've put out this year. Right, we're within two hundred and fifty
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meters of surface. We're right close, right up tight to the boundaries of
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the existing resource. So these are going to go straight into the resource update
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as we go forward. And you know, we've got half a half a
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meter at sixty four grams or sixty five grams, and then the three and
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a half years of almost thirty two. And what's interesting about that is it's
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not you know, a point two meters sample that's smeared across three and a
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half meters. It's consistent grade across that entire three and a half meters.
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So we've got nice width, we've got great grade coming out of it.
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And yeah, we're just looking forward to to more of the same as we
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close out the twenty twenty three results. So the results and your understanding of
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the Hinge target and the broader oh Clear Gold Project. What are you seeing
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here? Yeah, just you know, we've got way better understanding on the
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controls of mineralization, the gold mineralization going forward. Here we've expanded the mineralized
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footprint by over twenty five percent with the Hinge target alone. It's still open
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to the west. It's all open up dip, it's open down dip.
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You know, this year we want to go back into the gap zone where
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we've hit a meter at forty five grams. I want to go back into
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the eastern expansion zone where we were hitting things like twenty three grams over seven
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meters. We've we did some televiewer work, so we've got some really good
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structural controls on all these targets to add to our geochemical controls and geological controls
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that we had previously. And you know, our confidence of you know,
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and hit rate are still keep going up from historical numbers. Yeah, which
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which shows you're you're learning something there because the hit rate is going up,
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and uh yeah, that's definitely encouraging the a clear mineral resource update. You
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will obviously you can only say so much because you don't have it yet.
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We've been a little more prudent with our money the last year or two.
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So you know, it's all about how many holes you can drill. We
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just don't we don't know exactly what we have yet, so it's really up
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to mother nature to kind of go back on these assay labs and see how
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they come together. You're just got to show a pathway. Whether it's one
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seven nine, I think it's kind of irrelevant to me. As you're looking
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at a producer, you just have you know, you have a resource.
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It's not sitting at one point three, and we're going to be able to
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put perceval into it. And we've again when when I came on the company,
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basically it was just the one point three million ounces and a pot luck
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at perse All. We've drilled that out a lot more and we've brought in,
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you know, a dozen or more real anomalies that all sit along this
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Canard deformation zone, and they all all the mineralization for gold is within ninety
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five percent of it is within one kilometer of this Canard deformation zone. It
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has the same signatures as the Old Claire project and the Persevel project. And
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as you sit down and look at this, like when we bring in producers
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to review our work. They don't just look at the Clare resource. They're
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looking at all the potential new discovery out to the east and that's what gets
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them excited. And that's what you do as a company. You develop your
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old property. You don't just develop one area. And this is where the
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change of fury has been is again we've gone from this turnaround to a company
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that's refinanced, reorganized costs or fifty percent of what they were, you know,
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expenses than two years ago. And yet our execution has gone up in
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terms of meters, our use of funds has improved, and we've got all
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these potential new anotolies that are growing out on the eastern part of the property,
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not including what we've got to the north on the joint adventure. So
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that's what's important to show. And the resource is just a base of operations
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to give people an ability to quantify a certain part of that story. So
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Brian always hearing about increasing costs and getting less for more, and you kind
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of done the opposite. Here came a million, came in a million dollars
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under budget and four thousand extra meters of drilling. How did that come about
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full credit goes there to our Quebec team, you know, our expiration manager
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and our project heeos out out in quebecer second to Non I'd stack them against
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any technical team there. The execution level, the dedication to the project and
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all that. Everybody's bought in fully one hundred percent. The Fury culture is
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awesome and that's really what helps get those costs down and drive forward. You
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know, fuel prices are nearly double what they were when we started in twenty
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twenty, yet we're able to drill. Our cost permeas is down from when
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we first took over this project. So it's just, yeah, we've got
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a great team out there and they're dedicated to the project and they do what
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they can't real efficiencies in place. So Tim, you're always out there with
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the institutions, you know, working with them, meeting with them. A
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can you give me your opinion of the sentiment of what's happening in the sector,
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and B you know what's there? How are they viewing Fury these days.
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I've done a lot of marketing actually before the holidays, I just got
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back from New York. We've also done a bunch of sort of online meetings
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across the sort of country, and it's been pleasantly positive. I kind of
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hear and right, and I when we were out at Beaver Creek, a
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lot of guys were complaining it was negative, no money. We'd had our
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best conference ever and and we had a lot of producers looking at us.
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And it's continued for Fury, and I think that again, like I talked
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about this, you know, we were a turnaround story and people didn't give
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us a lot of credit. East Main was, you know, a company
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that was had kind of dragged along and wasn't doing that well. I don't
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get any of that anymore for Fury. And even when I sit down with
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some of the bankers, you know, their advice is really is you guys
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have done everything that's been asked of you. Your culture has improved, your
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financing has improved, You've got big projects next to big companies. That's what
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works in the consolidated environment. And so the meetings have gotten a lot easier
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to tell. And our confidence in ourselves is going on up a lot.
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And people when I sit down with like these retail brokers in particular, they
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have tons of investors behind them and they're reading you and they're reading your body
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and body language, and a lot of them, you know, after ten
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minutes, are like, look, I trust you, I believe you.
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The things you say makes sense from a logical point of view. You've aligned
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yourself with new Mindegniko, some of these big institutional names that are in there.
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That's enough for me right there. Because they don't like, you know,
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carry, they don't ask all the time about geology. They just want
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a vehicle within the junior space that when the market cycle starts ripping, they
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to go to or and they know how to see it a little bit earlier.
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They just don't want to lose their money. So if you think the
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cycle is coming, you got to start putting money somewhere. And where do
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you put it. You've got a company with Fury that's undervalued, that's got
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a potential takeout with this big asset called Dolli var Arden, and you've got
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big properties that if there is a massive consolidation, which is exactly what happens
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when inflication rips, that's the only out for producers is to buy bigger and
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bigger land packages where you only make build one road, not five or one
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mill dot five and we're right there, and so the story, you know,
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ten or twelve minutes, guys, they're telling me I'm buying your stock
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and I don't know how much. But I've had twenty meetings and I say
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eighteen of them all been great. I say five or six people told me
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they're going to buy the stock immediately getting off the call. That hasn't happened
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in a couple of years. Things are definitely turning around. Hey, speaking
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of which majors and such, you've got the Eleanor joint venture with Newmont.
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I know it's ongoing, limited to information that you can disclose on it,
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but what can you give us something on it? Well, look, Newmont's
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it's been you know, they had the New Crest deal. They put things
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a whole last years. We've been telling aboutsers it's one of our favorite targets
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to go back up there and do some drilling. We're within strotriking distance our
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campus right there. All it is is taking the helicopter going nor versus east
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and we could get some drills into the property. They didn't want to spend
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any money last year, and what we're waiting for is feedback from them about
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what they want to do this year, and I think there's you know,
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it's becoming obvious to us that it'll be nice to put this resourced updata out
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behind us, and then moving forward, we could really focus on new discovery
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and more of the money that we spend this year is going to be much
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more focused on that, which will include these anomalies out to the east and
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also to the north and the joint venture where we like to be doing some
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more GEOCM and some more drilling up there. So from an investor standpoint,
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I think twenty twenty four could be a more exciting year to Fury then banging
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out the hinge and the resource itself for our update, you know, a
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resource update. I think it's going to be great and we won't have to
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spend as much money to do it. We're getting more efficient. I think
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it's gonna be a great year for gold, and I think it's gonna be
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a great year for Fury. Yeah. Well, two thousand dollars plus gold
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and it's been staying there consistently for record numbers of days. You've got to
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wonder when the realization gets shared throughout the junior mining sector. Hey, one
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more question for you and this kind of ties in with that. Do you
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think there needs to be a change in the model as to how the juniors
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work with the majors in exploration and project development? I? I do,
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and we're actively trying to accomplish that. That we've been out. I think
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we looked at fifty five different companies this year. There's nothing that we've really
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jumped up and down about where I think a lot of potential opportunity is working
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with the majors. They want to work with junior guys. They just want
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to work with the right guys, the guys who can manage their you know,
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accounts and not blow a lot of money. So we've approached other company,
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these big companies and asked them that, you know, do you have
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uh, you know land that you'd like us to drip out, Because what
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it does is that it's it's it's it's kind of like selling to what people
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need, not what you what you're think you can get away with selling.
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So back when I work with on On in the capital markets, you would
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go to your clients and say what do you want, like what's your criteria?
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And then you go get it. You don't go make something up and
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try and sell something to the opposite. So if I can get the land,
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you know, and we're going to joint venture with a major, that
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makes all the sense in the world to me. And then you have a
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built in person a company that's going to also support you financially as you move
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forward, and you have an end buyer. So for a lot of forward
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is that But I tell you what, we've got enough land right now.
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We don't have to do anything for a long time because we've got plenty of
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money if we want to with Dolly, and we've got a lot of territory.
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We've got Committee bay Is is huge and we we certainly want to find
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a way to get back up there soon. I think there's a lot of
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potential upside and in Quebec we have more than enough for the moment. All
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right. Finally, Brian for probably working on the current budget. Where we're
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heading now just targets. You're probably waiting for the rest of the results,
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but initially, where are you're going to be focused for the coming year?
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Yeah, I think you know, Tim mentioned a lot more discover very focused.
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You know, we're going to be able to quantify what we've done to
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contribute to the resource growth and show that so that lets us you know,
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take a step away from you know, the resource itself. You show it's
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open, there's expansion potential. Now we can be looking at some of these
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anomalies we've defined out along the person of all trend up to serendipity to the
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north and then at the joint venture as well. So look for us to
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still we still love the resource, and we'll still be poking a few holes
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trying to show that it still grows, like I said, at the gap
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zoned an east end expansion. But look for us to be stepping out and
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looking for that, you know, the next big sort of hit out there
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outside of it and making a discovery. All right, well, based on
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what we've seen to date, that's probably there's a great likelihood that that's going
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to happen. In any event, gentlemen, appreciate you coming on. Make
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sure you go over to Furygoldmines dot com sign up for notifications, get the
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latest news. The ticker symbol in Canada and the US is Fury. If
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you are wide and gentlemen, Thanks so much. We'll be talking to you
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again soon. Best of best wishes for the coming year. Thanks Carry Thanks
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Carry, the Financial Survival Network,