Latest / Financial Survival Network / Fury Gold: Éléonore South Consolidation Creates New Opportunities CEO Tim Clark

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Fury Gold: Éléonore South Consolidation Creates New Opportunities CEO Tim Clark · Financial Survival Network

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  We paid basically three million bucks for an asset that we thought was worth twice
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  that, and it puts us in an incredible strategic position because, as investors
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  may have heard that Newmont is going to divest a bunch of their assets,
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  they want to raise two billion dollars, and the Elliott On Mine is one
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  of them. I view it as a huge positive because I think any new
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  player that comes in is going to do a lot more work to explore and
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  expand and want to add to that mill that runs at half to pass.
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  The Financial Survival Network now more than ever, the Financial Survival Network. Welcome.
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  This is Financial Survival Network and I'm your host, Carrie Lutz. We
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  are sitting down for a sponsor update and it's a big one from Fury gold
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  Mine CEO Tim Clark and chief geologist Brian Atkinson. And I'm really happy we're
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  doing this now. So much news has come out recently. Just a few
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  days ago, Tim, you announced the acquisition or the consolidation of the complete
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  Ileonor South project, and we're here now to get the latest news from you.
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  Before we get into what's happening, I think we need to address what's
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  happening with the gold price right now and the potential for fury to ride that
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  wave what I thought was going to happen a couple of years ago, and
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  it's finally coming to fruition here. I think that there's real questions globally what's
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  going on. And what's interesting is the North Americans really aren't the buyers.
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  It's the rest of the world. And we've got eighty five officially companies now
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  that are net positive buying with the central banks. I think Hungary was just
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  the latest one added for what I hear. And look, the US has
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  weaponized the dollar and everybody else is wants to negate that, and the leverage
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  of the dollar going forward if they keep buying in China and Russia, Turkey
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  and so on, is gonna push back. So the goal price here is
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  where it should be. I think inflation is really kicking in. The interesting
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  aspect is that the equities are still lagging massively, and I think a huge
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  opportunity. All right, well, yeah, we're looking at twenty one hundred
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  thirty plus dollars per ounce as we're speaking now. You know, it broke
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  two thousand months ago and just kind of lingered there. Then we had a
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  kind of false breakdown where it went under two thousand, it's shot right back
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  up and now twenty one hundred, and hey, if we close the month
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  of March at that rate, then it's to the moon. So hey,
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  so Eleanor, let's talk about that. You've consolidated it. You now have
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  one hundred percent ownership. Just tell us your take why that is so important.
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  Look on the ellan Or South joint venture. We were happy to be
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  with Newmont, but they clearly didn't want to move forward due to drilling,
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  and we viewed that property as one of our top target areas, and they
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  approached us to consolidate it, and so we jumped at the opportunity and we
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  got a great price. We paid basically three million bucks for an asset that
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  we thought was worth twice that. And it puts us in an incredible strategic
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  position because as investors may have heard that Newmont is going to divest a bunch
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  of their assets, they want to raise two billion dollars, and the Elliot
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  On mine is one of them. I view it as a huge positive because
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  I think any new player that comes in is to do a lot more work
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  to explore and expand and want to add to that mill that runs at half
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  capacity. If we happen to find something on our joint venture, it makes
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  sure a huge target, uh for a takeover in my view, and that
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  that is putting us in a much better position for success in a way,
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  a pathway to get get our you know, things monetized. You know.
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  At the same time, we have other areas of the it's a big property,
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  we have other areas for exploration, and there is upside I think in
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  exploration around the CEIOS project. Uh, that's not a priority for us right
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  now. It's really about developing the targets that we already have that are closer
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  to Eleanor though now we just saw a press release I guess today, Brian,
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  the first tell us geochemical testing, what that is and why the results
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  are so significant here. Yeah, So you know, you're basically any sort
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  of geochemical survey, you're just looking to find a consistent sample media across the
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  you know, a certain area, and in this particular area where we were,
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  uh, there were you know, it's it's all well vegetated and kind
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  of boggy, so that the only thing that really worked was biogeochemical sampling.
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  So we're sampling the trees, the black spruce trees out there, and they
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  were really robust sampling media. And we've done it you know at Percy Val
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  we proved it up there. You know, we're having good, good success
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  drilling out there. We've got some nice anomalis to follow up there. You
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  know, previous companies we've used it out at in Newfoundland as well and been
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  able to prove up some mineralization out there. So we know it's a robust
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  technique. And you know in areas where there isn't you can't do your conventional
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  soil or till sapling, it's a nice tool to have in your toolbox,
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  right, And we went out there we sad We did an orientation study here
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  wide space lines over some targeted strateigraphy that we liked. You know, it's
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  basically the continuation of the low formation sentiments which is what hosts the new modzelle.
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  You in our mind, it's a nice fold you can see in the
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  geophysics. It had a lot of the hallmarks, but we couldn't find you
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  couldn't do conventional geochemistry over it. So we went went out and did it
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  and old we get these anomalies that are up to twenty two hundred times the
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  background values. So you know, usually you know, people get excited about
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  five to ten times background. Now we're talking two hundred times background. So
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  this is these are real anomalies. They're really robust. It's gold and arsenic.
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  It's sitting in the right spot geologically and geophysically. So no, we're
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  really excited to go out there and complete this grid early in the summer and
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  then you know, towards the tail end of the summer and the fall,
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  get out there and put a few drill holes into it and see what's out
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  there, all right, and so based on the survey results, tell us
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  the next steps. It's drilling basically, right, yeah, yeah, once
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  we're ready to go. And you know, our expression manager, David Rivard,
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  you know, he worked at Gold Corp and Newmont and his you know,
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  his mandate was to find another Eleen or within Ellen or mind property.
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  And it wasn't until he came across the Fury and uh, you know,
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  looked at our data and started, you know, really call me through this
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  and he's like, well, you know, wait a minute, you know,
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  this looks this has everything that I was looking for. While I was
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  working with Gold Corp And Newmont looking for another Ellinor. So we're really excited
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  to get out there. It's, uh, you know, it's one of
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  those things that you know, grassroots and you know, if you remember two
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  years ago, you ourselves we were talking about, you know, this this
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  large golden till anomally that we've refined down into you know, four or five
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  really nice targets that are ready to drill as well. And then we went
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  back in there and developed another new target. And then you know, as
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  Tim alluded to, there's some some good I grade minimalization on our side on
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  the on the Chiechoo tone light where we've got six meters of forty nine grams
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  per ton gold that have never been followed up on. So it's it's a
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  really you know, nice prospective chunk of ground with a lot of interesting targets
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  for us to go after to as far as strategically, the proximity of Eleanor's
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  south to Neumont's Eleanor mind, how does that impact your explorations strategy going ahead?
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  I mean, you have a lot of balls in the air here.
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  Yeah. Look, you know I was just talking to Brian Christy or chairman,
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  and I think one of the things he's been really happy with is is
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  how many levers and options we've had created at the company. And that's that's
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  what you do in a down market. And as I said before, is
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  the goal here is put us in the best position that when the market starts
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  seeing some real inflows that we're best in class. And we've got not only
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  we all the joint benure right now that puts us in play with Eleanor,
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  but also Cereos and it almost doubles are sort of target base in Quebec for
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  new discovery. And then we were also going to go back up to an
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  in event this summer and do a small survey project and spend a couple hundred
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  thousand bucks doing that as well. We haven't been up there in a couple
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  of years. We're starting to see interest come in from the producers looking at
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  that property out in Beaver Creek. We had a tremendous amount of interest and
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  meetings we're around that topic. So this is kind of thing that when we
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  talked about carrying the past, is that when the bull market starts coming in
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  here, like we're seeing with a goal price, all these properties start coming
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  into play. What we're going to do, though, is remain targeted and
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  try to minimize any kind of dilution. And the idea here is to be
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  prudent about how you do the spending in this coming year project. Because we're
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  coming out with a resource update in April, we're not going to have to
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  spend as much time the resource this year as we did last year or the
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  year before. This year is going to be much more targeted and really focused
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  on new discovery and we've got a lot of targets and it's exciting. So
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  there you go. And I think from a valuation standpoint, I don't think
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  you're going to find too many junior companies as cheap as ours with as much
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  in play. And we haven't talked about Dolly Varden. They just raised fifteen
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  million dollars more today off the back of ten last December, and Eric Sprott's
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  taken even a bigger share of THEIRS. So the stocks trading really well today.
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  It's adds nothing but positive to our evaluation and investors should take note.
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  All right, So NUMA has an express their intent to divest the the ileanor
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  mind what kind of company comes in and buys that. I mean, you
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  don't have to name names, but what it's got to be a pretty substantial
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  company, right Well, I'm my understanding is the process hasn't officially kicked off
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  yet, but Bank of Montreal is going to be managing it in Canada and
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  other bankers will be managing the investment in other countries. They are going to
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  sell I believe three major assets in Canada. So any company that comes in
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  there and wants to buy all three, we need to be pretty sizable.
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  Maybe the Australians come in, they had a lot of money and might want
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  to come in there, but I'm sure all the majors will be looking at
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  it. For me though, if you're a company and you're buying Eleanor,
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  you're not going to sit on it. You're going to want to push it
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  forward. And they're going to need to find expiration ground. And our Eleanor
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  south is takes up a huge chunk of land right on its border to the
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  south of it. And where better to find gold than next to a major
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  And actually I would say next to two minds, because you're going to have
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  Cirios Is going to be a mine at some point, and so we're right
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  in in a great look, you know, land package, and I think
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  investers should understand that we were getting zero value in our stock price for this
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  property and it shouldn't stay that way, right and conceivably any major that comes
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  in there, they're going to kind of have real interest in the in Eleanora
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  South and maybe look to acquire it at the same time. Then well,
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  look, let's put it this way. We're we were trading at sixty five
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  million market cap. We got forty five million in stock of another company that's
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  probably up to fifty today. Fifty today, I checked it. We got
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  cash. Our enterprise value is pretty damn cheap. If we happen to find
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  something on that joint venture, they're going to have to buy us. Yeah,
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  they were kind of don't have a choice, and really their due diligence,
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  I would expect that you would have to be a significant part of it.
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  Well, if again, if we happen to go in and the kind
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  of thing that we're open to fight is what Brian's talking about here, this
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  gold and til anomaly pans out, or if we find something else on the
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  other targets on the property. Anybody who owns Eleanor is going to need to
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  feed that mill right now. I believe it's got about six year mind life,
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  and if they can extend that day nine or ten, I mean,
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  that's an incredible amount of money and buying a small company like ours would be
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  pretty insignificant. And so we're in a great pathway and as goal price goes
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  up, it only makes all our properties more valuable for sure. So looking
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  ahead for the drill program, Brian, you got to kind of switch gears
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  here a little bit right Well, you know that's in thing because that you
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  know, I think Tim would attest to, you know, our technical team
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  bugging him over the last two years to get up and and be drilling at
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  Elle and our souths. So it's not it's you know, it's something we've
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  been hoping to do for the last couple of years. We've got some really
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  good targets up there, and you know, now that we've got one d
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  percent control of it, it's something we can just kind of follow through with
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  plans and you know we already had in place, So it's it's nice,
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  but switching gears away from you know, resource focus and getting that resource update
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  out and you know, going out and trying to make a new discovery on
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  some of these targets that we've been talking about. Is that you know,
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  that's every you know expiration geologist stream is go out there and you know,
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  find something new. And that's that's what we want to do. And you
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  know, I think, you know, our shareholders be along for a you
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  know, a fun fun ride over the next couple of years as we go
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  on and test these these targets and see what's out there. So as far
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  as the resource update to tim, uh uh, we're looking when do you
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  expect that out? I believe end of March and early April, right,
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  Brian, right around, Yeah, very soon. And I assume it's going
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  to be good news. But we can't really talk about that now. But
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  but based on everything you've done over the past three years to four years that
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  I've been following the company, uh, it's going up. Yeah, it's
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  it's definitely going to be a larger resource than it was. You know at
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  the Hinge. We've increased the middle ized footprint by we've got other holes in
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  there that link some of these you know, old isolated blocks back together.
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  So yeah, you'll see a you know, a meaningful increase, and what's
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  going to be interesting area is that you know, it's still you know,
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  the old promotional talk, but it's literally open in all directions still, so
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  we can go out there. Our westernmost all gets, you know, four
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  meters at five point seventy five grams are shallow list folls. Some of the
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  ones we just put over thirty two grams over three and a half meters,
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  right, so, you know, and then you take that scale and you
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  look at something like the gap zone, which has the same dimensions where we've
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  got an isolated hit of a meter at forty five grams and there with no
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  other drilling around it, but you've got you know, the same scale potential.
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  And then you look out to the to the east of the deposit where
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  our first expiration roal was a six hundred and sixty meters step out where we
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  hit a meter and a half at over fifteen grams out there that we've never
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  followed up on. So it's kind of one of those things where you you
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  know, yeah, the resource update will be nice, but it also showed
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  that, you know, hey, we took this you know, three hundred
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  meter by four hundred meter area and we've that's this many ounces, but we've
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  got you know, three or four other of these targets that legitimate with intercepts
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  in them that could add similar number of ounces back into the resource that you
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  know at an eventual date. And finally, so enterprise value of Fury it's
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  I think around ten twelve million now it's kind of been holding steady around there.
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  Well, I think it's probably a little bit up today. I would
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  say, I haven't looked at the share price today, but we're trading still
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  pretty low. Fifteen bout fifteen million enterprise value I think around three dollars an
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  ounce, which is at the bottom of the range. I think the issue
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  has been that a lot of liquidity left her stock to go to play the
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  Dolly because it was such a big piece of our company, and I think
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  that sort of pulled it back and created a buying opportunity as we divest the
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  Dolly position, and that should I think move the other direction and have a
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  lot more upside. So we're clearly you know, excited for the upside of
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  this market, and I think think we're going to get attention. And again
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  we're one of the few juniors that trade in the New York Stock exchange.
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  So that's going to add a lot more liquidity as the bull market comes in.
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  Yeah, and as a share price goes up, and then the funds
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  pick it up, and then the indexes hopefully at some point the index funds,
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  all of that could definitely add nicely to it. Well, I think
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  we've gotten a good overview of what's going on. We'll have to touch base
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  next month and get an update. You know, one thing I like about
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  you, Tim and Fury is the old expression go big or go home definitely
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  applies to Fury. Yeah, thank you, Thanks Kerry. So make sure
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  you go over to Furygoldmines dot com sign up for notifications so you can get
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  the latest news which is flowing pretty quickly and rapidly now. Ticker symbol in
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  the US and in Canada is Fury. If you r y, Tim Brian,
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  thanks for coming on. And I know you guys are busy, but
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  they will talk to you again soon. Thanks Karrie, Thanks very much,
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  Karry. The Financial Survival Network