Because our plan is to hopefully get to two million ounces by year end is
our goal. We got these three out, we've got to wait a little
while because we've got that gap. You know, we've got a strong balance
sheet right now. We've got twelve million in cash and the treasury, and
you know we've budgeted to end the year with six million hard dollars in cash.
The Financial Survival Network now more than ever, the Financial Survival Network.
And welcome you are watching listening to the Financial Survival Network. I'm your host,
Kerry Lutz. Hey, we're bringing you a sponsor update from Fewery Gold
Mines. And of course CEO Tim Clark and Senior VP of Exploration Brian Atkinson
are with us. And hey, good news today. We got the first
three holes results of the first three goals of the twenty twenty three drill program
today and I knew you are encouraged. Yeah, carry that. We're glad
to get them out. Um. Look, we try to kick off our
year a little early this year, and we thought we got ahead with our
financing, got out into the field early, and then of course these Fords
fires really sort of set us back. But we got three three drill holes
that we put out today. You know, it's our it's on the hinge,
which is what our big focus has been, and we're trying to extend
it out a little bit as well as do some resource drilling because our plan
is to hopefully get to two million ounces by year end as our goal.
And uh so we got these three out, We've got to wait a little
while because we've got that gap. We lost a month. But Brian can
talk about you know what kind of traction we're getting right now, which seems
to be really good. And you know, our focus really this year is
about discovery, a new discovery, and we've we've we're going to hit the
ground with this these anomalies that we've got out on the eastern side of Percevale
as well as Percevale. So we're excited to be in front of what we
see as four to five months of droll results. Hey, so, I
know when you came on as a CEO, you expect to face challenges,
you expect to have to put out fires, so to speak. But you
bet you literally thought you were going to be fires, did you. Well
no, uh, it's um you know, unfortunately, So what's what's what's
happened in the world these days, you've got to be prepared. We were
fortunate not to be too close, but we you know, our thoughts go
out to all those who were and you got to live your own sort of
day. And so we're back at it and another hurdle. I think.
Let's hopefully they've got them under control and there's not gonna be a problem for
the rest of the year. As far as the last years, you're right,
Um, look we've had We've had to dig ourselves out of a hole
in terms of financing. We've done that in spades. We've got another year,
a good program set up in front of us. We had a nice
hit at the Perceval and the last year that I think is going to tee
us up. And you know, we've been advancing ourselves in terms of our
relationships with some of the producers, working with Newman and the joint venture,
trying to figure out, you know, the best course of action there as
well as you know, leading into you know, advice and partnerships with Agneco
who owns two and a half percent of us. And you know, we're
trying to build a company here and it and it takes a lot We've got
our cost them almost fifty percent since I started, So um yeah, and
I think we're we're doing better than ever we our optionality. We just had
a board of directors visit up to site last week, and I think that,
you know, there's there's always risk in this space. Uh, it's
funny. I just don't I don't feel like it's that risky because we've got
a path in front of us and we've got a lot of options. You
know, Dolly Varden is still a potential takeout. They've got four or five
drills going to summer. So you know, some people said, you know
you're you're not drilling, and I said, well, actually eighty percent of
our market cat is drilling and they've got four or five drills, and so
you know, we're excited to see what they have to say. What I'm
hearing is is positive and m and then we've also got potential to really shore
up. We've got a persevale. We've got potential to hit what I think
could be two million ounces by year, and is the hope. We don't
we're not going to guarantee it obviously, because we still got to figure out,
you know, where all the gold is, but I think there's a
path to get there. At the same time, we've got potential for new
discovery in these anomalies on our property. And you know, we've got a
strong balance sheet right now. We've got twelve million in cash and the treasury.
And you know we've budgeted the end of the year with six million hard
dollars in cash after all project drilling. And I think that's a big plus
for a junior company, oh for sure. And you've got the optionality with
the dollar of Arden's Steak as well to leave you in twenty five percent of
Dolly Vardon. And so you've got a lot of a lot of possibilities here.
Hey, Brian, tell us the results, how it conforms to your
model, and as far as continuity of results from prior years and what if
any changes of the current results will lead to Yeah, perfect, No,
These first three goals have really helped us solidify the plan for this year.
We've proved up the continuity of our model. We've stepped out additionally, we've
some with two of the holes, and we get some intil with one of
the holes. Our grade our model that we've got of our veins going out
there we're hitting nineteen veins and two corridors that are coming through, and as
we're drilling these, we're like, oh, you know, at that bench
be coming in it five hundred and five meters and you know, most it
is coming in it, you know, a meter or two off of that
with our model. So we're really good on that, and it's really just
helping us that, you know, drive forward with confidence on on the old
Claire drilling at the hinge target so that we can you know, we can
focus a lot of our geological brain power looking out at Percy Vowel and some
of the targets out there looking for a new discovery. So with a clipbook
player behaving so well and and conforming to the model that we've done, it
lets us, you know, take that step back from the hinge while still
obviously focusing and giving attention it needs, but you know, giving giving Percy
vllel a lot of room to run with us as well. Yeah, and
you got some you got some nice grades there too. Yeah, it's good
grades. So what's really interesting as we go into the end of some of
these wits, like we're getting grades above cut off over fourteen, you know,
six, six, meters to fourteen meters. They're all above cut off
with some higher grade internal intercepts within those, so we don't see those kind
of widths within the main part of the deposits. So we're really encouraged there
when we you know, we looked at the western side of the hind,
we've got really good wits and on the eastern side. You remember from twenty
twenty one we were drilling you know, yell eleven and a half grams over
seven meters and twenty three grams over six and a half meters out there,
right, So it seems the PERP praise where we've really stepped out. We're
starting to see some really wits to the mineralization that are holding together, which
is really encouraging as we keep stepping forward and trying to grow this right.
As far as the fire related delays, I know, it's such a back
a few weeks. What are you anticipating for the entire drill season. Is
it going to be a factor or not. Well, you know, obviously
it was a concern when we were going back in, but our drill contact
has been just absolutely ripping it the last two weeks. I'm just actually coming
out of from being up on site two for the last two weeks. And
you know, we're getting our meter per day average back up to uh to
where we are in our target goal versus our actual goal of meters. It's
going to be crossing here pretty soon. So even though we had a four
week delay, I think, you know, we're going to be catching out
two actual here pretty quickly. The way the guys are drilling right now,
all right, Well, that's what we like to hear. It's like when
the plane takes off late. You always want to hear that cap to say,
worry, get there. Oh it's it's uh, it's amazing carry.
These guys are are crushing right now. And I think it's you know,
there's such a learning curve when you get up and you get a new you
know, a new crew with fresh as the season, or an old crew.
They've got still got to get it fine tune. And Brian's been a
camp for the last couple of weeks, and I know David Voar was in
Camp three for the three weeks prior to that, and uh, these are
our two key guys and they're they're on the administrative corporate side of things.
You got a new chairman and and he brings a lot of experience and another
Brian for me to keep track of here. Yeah, we got Hyeah,
Brian Christie and Akin. So Brian Christie is our new new new chair He
joined the board last winner and uh we moved him into the chair position in
the spring. He comes from eight to ten years of working with Agnico Eagle.
Prior to that he was a cell side analyst for many years, and
before that he was a banker. But he's a he's a geologist by training
and I used to work with him at National Bank about fifteen or twenty years
ago. We remained extremely close and good friends and compared my My sort of
interest in having Brian step up was really he's got a real great understanding about
um investment banking. We needed that on the board, plus his institutional knowledge.
He's really walked around with Seawan Boyd at a Nicoegal around the world the
last eight to ten years and met every even or public manager in the world,
and he was ranked one of the top I R guy at at Nicoligo
probably for the last half years. I's gotten many awards for that and it's
a good sort of even keeled guy that I think investors would be happy to
have setting strategy and and and sort of overlooked. I um, he's also
chairing the technical committee, so maybe Brian, you want to comment on what
you think. Yeah, he's definitely been a great a distance to the team
and uh he he doesn't let us off the hook easy, so he grills
at us hard. We just had the most of the board with a deception
exception of Saga Williams. The rest of the board was up on site the
other week and yeah, there was some hard questions coming to those guys.
So it's it's really good to see and he's a great out to the board
and having that technical oversight on the technical committee as well is really really nice
for us to be rolling through and we can learn from him and he's seen
a lot more deposits and you know, any of us throughout his career,
so it's it's good adding that experience to us. So too, on the
institutional side, which we've been in a market really dominated by institutional interest,
retailers are still stoic. They're indifferent, to put it charitably, Well,
liston goal prices still remains high. It's just it's the interest in the equities
that I think has lagged. Um, you know, I think everybody's waiting
for the FED to ease on rates. And we'll see when the really knows
for sure. But we're whole full. We think it's going to happen.
It's it's inevitable. Um. And with that in mind, I also I
look, I've been in this industry long enough, uh to see a couple
of cycles, and you want to buy at the bottom of the cycle,
at the best companies that are there. And what we've tried to do is
position ourselves to be that company. We're one of the few US listed junior
names as well. It's definitely adds to our our workload. But but we
feel that when the market turns, um, you know, we're gonna we're
gonna get the additional US interest that's really going to push the stock a lot
higher and a lot faster. And um, so we're ready. We're we're
kind of you know, I think we need a little luck at the drill
bed like everybody, and uh, we're often running yeah, well, hey,
you live or die by the drill bit. As somebody once told me
a wiser person than I And obviously this is the track. So one final
question, Broight, So two rigs going one on Purse of All. Just
refresh us a little bit on Purse of All. Where we were at as
of the end of the last drill program in twenty twenty two. Yeah,
I know, we uh, we had really good success out there in twenty
twenty two. You've got five holes we've put into the Purse of All main
part of the Personell Marlee system. They'd all hit really good grades and obviously
we had the last hole out of there with thirteen thirteen a happy years it
just over eight grams. So obviously that's been our focus early on following up.
We're just finishing up the third hole out there to start off the program,
and then we've got four holes completed since our return from the forest fire
breaks there at Eau Claire, So you know, we've got seven holes kind
of starting to make their way through the lab and it should be pretty exciting
time throughout the rest of the summer and into the fall here and the labs.
All the delays or the bulk of the delays are behind us now,
correct, It does seem that way. Yet we were even able to you
know, get some samples in one priority run through and they look like they're
progressing nicely through there. So yeah, overall we're down to three or four
week turnarounds all in at the lab. So it's nice. That's great.
I guess they decided they had to get back to work finally. And just
like you go to the supermarket and the pharmacy, you're not seeing huge gaps
on the shelves, the same thing with the labs. They're starting to actually
produce. That's a good sign. Yeah, listen, it's all coming together.
You know, everybody's had a nice summer probably and then but it's coming
going to come to close the next three weeks, and I think it's going
to be a really interesting fall. All right. Well, we're into interesting
falls for sure, interesting results and a very encouraging drill results here for Fury
Gold Mines. Make sure you go over to their site Fury Goldmines dot com
sign up for notifications so you will get the latest drill results as they're released.
I know I'm holding by shares in Fury, hoping for a major run
up soon. We're getting to that seasonal time of the year where where the
sector will normally go up on its own. Hopefully this time won't be different
than any other. I doubt that it will, maybe maybe less different than
the will the others. Hey ticker symbols US and Canada. Fury fu ry
gentlemen, Tim Brian, thanks so much for coming on. Jerry, It's
great to see you again, Doctor Say thanks much. Scarry Yea, the
Financial Survival Network