And what was really exciting and what I think has led to the share price
rising and the growth of the company was the growth that we've had at the
Wolf deposit. And now we're talking about Moose. So you know, the
best way for me to describe it carry is these are like a string of
pearls, right, and we think each of these pearls has the potential to
be like our Tourbriate Mind, which was a fifty million ounce sober deposit.
Now there is also another result in there from chance which is in their pearl
and was Leut's call it a two hundred gram hit over twenty three meters,
Tutor gram per ton sober over twenty three meters. So you know, I
think we've got at least five, if not six, maybe seven of these
that have the potential to be fifty million ounce solver deposits. The Financial Survival
Network now more than network, the Financial Survival Network. And welcome. You
are listening to the Financial Survival Network. You are watching the Financial Survival Network.
I'm Carrie. Let's your host. Hey, We've got an exciting update
from from our good friends over at Dolly Varden Silver. The CEO of Sean
kuh Kuhn is with us now and Sean. I just picked up on the
latest drill results which were pretty extraordinary nine hundred and seventy eight grams per ton
silver over five meters and thirty six seventy over zero point seven nine meters at
the Moose Lamb vein, which I hadn't heard of before. Pretty exciting,
all very exciting, Carrie, And just to sort of take a step back
from the Moose hit, you know, this is a project that has a
significant silver inventory. You know, we've got close to one hundred and fifty
million ounces of silver equivalent in all categories, and what we're trying to demonstrate
with the drilling program is that there is a significant room for expansion. So
the Dolly Varden silver Mine, which was the richest silver mine in the British
Empire, and then you move up about a kilometer and an alf and you've
got the Turbrit Deposit, which was Canada's third largest silver mine. And what
was really exciting and what I think has led to the share price rising and
the growth of the company was the growth that we've had at the Wolf Deposit.
And now we're talking about Moose. So you know the best way for
me to describe it carry us these are like a string of pearls, right,
and we think each of these pearls has the potential to be like our
orbit mind, which was a fifty million ounce sober deposit. Now there is
also another result in there from chance, which is in a pearl and let's
call it a two hundred gram hit over twenty three meters two unitre gramd per
ton sover over twenty three meters. So you know, I think we've got
at least five, if not six, maybe seven of these that have the
potential to be fifty million ounce soilver deposits. And you start doing the math
on that, and then you factor in the million ounces of gold up at
Homesteak that not to mention, also is accompanied by twenty million ounce as a
solver. And we've drilled the target called Red Point, which could be the
next big gold discovery. So what I'm really trying to showcase here is we've
got a project that's in its infancy, and the proof in the putting is
all of this exciting discovery and expansion and extension news drilling what's taking place right
now to extend these fines. So We've got three rigs that are currently turning
twenty four hours a day. We've completed twenty five drill holes. We've announced
two. We have a total of twenty five thousand meters of drilling and you
know, we might have completed you know, just under a third of that
so far. And that's the plan meters. You know, we could always
make a decision to significantly expand the drill program. Last year we drilled over
fifty thousand meters. So we have the budget and the capability technically and logistically
and with manpower and equipment to do so. So, you know, and
really like, this is a company and I really think that, you know,
I will say this, like the stock market's all about growth, you
know, whether you're your Navidia or your Tesla, or your Apple or Nike
or your Dolly Varden silver, and our growth comes from growing silver discoveries.
And you know, four years ago this was a twenty somethings sent stock.
It's now trading north of a dollar a share, and that was at a
time where there hasn't been a tremendous amount of interest for small microcap precious metals
equities. We're starting to see a little bit of interest, and I just
think that you know, we are, we are very very well positioned for
this coming bowl market. And during the time we mentioned the four year period
where the interest has been you know, week at best to really Dolly Varden,
a couple of other companies have really stood up during that time where you've
been able to raise the capital, you haven't put have to do things on
care and maintenance and deferrals, you have to defer your drilling programs. So
that kind of makes you uniquely situated because obviously we're in a new precious metals
bull market cycle. And where do you think we are in this cycle?
Here, Sean, I think this is a baby bull. I think it's
it's early early days. It's a baby bull. I've got a friend,
he's also an investment advisor. His name's Bob Thompson. Bob is over at
Raymond James and Bob is famously coined the idea or the term the mining clock.
And essentially, you know, one o'clock being the start and you know
eleven o'clock being close to the end of the party. And where Bob thinks
we are is, you know, he thinks we're somewhere in that six to
seven o'clock range. But he also talks about how you know, ninety percent
of the wealth is created after nine pm, right, so it's in those
final particular literally for the microcaps. So I agree with you we are in
a ble market. I agree with Bob about you know, it's you know,
we're we're moving towards that moment. It could be a few years from
now, or you know, could be measured in you know, eighteen months.
But one thing I do know is if you look at where the price
of silver is relative to gold, this is an indication that we haven't seen
the end of it. You know, gold's putting in new all time highs.
Silver is only trading it sixty percent of its all time high, and
so that's a great indicator that it's still early days. The other phenomenal indicator
is where mining equities are relative to other asset classes. Now we could take
the whether we take the price of gold or gold equities to Dow ratio,
or we take something like where the Venture Exchange is trading as an index.
So you know, the Canadian Venture Exchange is a great proxy to junior mining
companies, and the fact that we're trading lower today and we were trading in
the lower The great financial crisis is telling me that, you know, the
bullmarket may have begun, but it's begun for the metal, the bullion,
you know, the coins. You know, it's begun for some of the
large caps. You could argue, like companies like Egnico Eagle or Numont or
Barrack kin Ross, but really for developers, small producers, for forget exploration
companies, it's early days. Well, my personal feeling, and I'm not
an expert like you were, Bob, but I think this party could extend
on and it could be a mammoth party that goes on till six in the
morning, till all the people go home. That's my personal opinion. I
think the clock's going to be running longer on this cycle than any other's because
of the economic issues. But time will certainly prove that out. And also
I agree with Bob because the M and A activity hasn't really hit stride yet.
That's what we've all kind of been waiting for, isn't it. Yeah,
you make two incredible points there. I'm going to touch on the first
one. Bob was measuring that mining clock analogy and he was doing it in
a currency that was the world's reserve currency where you had confidence in those dollars,
where you know, he was looking at the last fifty sixty seventy years.
But you are absolutely right. The reason this could be an all night
rager is the fact that if we and you look at like, you know,
the petro dollar, you know, the renewal not happening out of Saudi.
You look at like what the bricks are doing. You look at you
know, gold being a Tier one asset. You look at all these things
that have been unfolding now for decades, like this has been building for decades,
the debt levels, all this insanity, the wars, uh the spending,
and you're right like this this is this could be a you know,
like you know, you start measuring gold in in the win Mark Republic or
in other scenarios Zimbabwe. You know, if you get into a place where
the confidence goes in those greenbacks, it's you know, this is going to
be a very very different scenario. It's as far as M and A goes,
this is very interesting and I feel like I'm on the front lines of
this. So I've been running Dolly Varn for four years I've been working with
a great team, We've got a great asset, and you know, like
you said, it's been one of the few. Gratefully, we're one of
the few companies that have had some positive momentum. Now, despite that positive
momentum, and apart from one corporate and HECLA, it's been very quiet in
the land of corporates and competitive tension and emina activity Cherry. In the last
two months, there's been a flurry of inbounds that we've been fielding from silver
companies, from gold companies that all of a sudden want to have conversations.
But what's interesting about that is I really think that that M and A stuff
hasn't even started. So for example, if I'm a silver producer, I
might want to look at other producers I can merge with, But those silver
very very few producers are looking into that developer category, looking for that pipeline
project to develop. They want to grow production. So that tells me like,
once we start going out to the producers buying the explore copes, like
they're not even ready for the developers yet, right, and so they just
want to merge up with peers at this point, And that tells me that
it's early, early, early, the early early days. And the great
news is and again this is measuring you know, the last fifty sixty seventy
years, and so these numbers, we might need to move the decimal point
one to the right here from what I'm about to say, But the value
of a silver ounce in the ground has ranged between forty cents to four dollars.
There's some exceptions based on quality of ounces, but that's the range.
You go back to August to twenty twenty with silver one to thirty dollars from
a twelve dollars low four dollars an ounce, right, you go to the
depths of you know, twenty fourteen, fifteen, bear mark it. You
know, companies are trading for like fifty cents an ounce in the ground.
My point in all this is the longer it takes the corporates to build up
that m and a momentum, we'll be trading at that. Right now,
we're somewhere in the middle. You know, the average company's probably trading around
between one and two dollars. So it's not forty cents, it's not four
dollars, it's between one and two dollars. In the ground value for silver,
and a lot of things determine whether you're a dollar or two dollars size,
grade location. But my point year is what four dollars could buy you
twenty years ago, it can no longer buy you. So we might be
in an environment where that in situ value, that enterprise value pronounce needs to
be five dollars, six dollars. You know, you know, if we're
printing a trillion new dollars every hundred days, you know how many of those
dollars are going to take to go after announce of Selman? Good question,
Good question. And in addition, the producers have got their own issues with
dwindling reserves and they haven't really addressed that for quite a while other than looking
for peer to peer mergers hundred percent. And you know what's crazy is if
you look at production, you know the you know so from those reserves are
producing, and you look at the production profile of the big ones like the
new Mods, the Barracks, the Ignikos, most of their production is lowered
today than it was ten, fifteen, twenty years ago. And that's after
printing hundreds of millions of shares through the loot of acquisitions just to try to
maintain eighty percent of previous production seventy percent of previous production. So you know,
we're in a universe right now where and that's not a great place to
be for effort investor. If you're an investor and you know gold stocks are
going to outperform gold or silver stocks are going to outperform silver, well,
if you're if you're in a major that's got dwindling resources and the only way
for them to replenish those resources is to make expensive acquisitions. Well, the
companies to focus on are the emerging producers, you know, the junior producers,
and the companies that can build resources through discovery. So it's the explore
cost. It's really that that's where the value is created in the mining sector.
But when you're in a bear market, the place to hide out is
in the royalty companies and in the seniors. But now that we're moving into
that baby bull market, it's time for investors. And the sweet spot that
I've tried to pick after doing this for twenty years and studying it and focusing
on it is bind a company that's got a deposit, that has the ability
to grow that deposit, and that I think is the real sweet spot.
So that's where we try to focus, and Dolly Varden fits that profile to
the tell right, any events coming up that you see could have a material
impact on the sector and on Dolly Varden in the near future. Well,
it's like a powder cake. You know, there's ninety nine ready of this
load. And so had you wanted alphabetically, Jerry, well let's just say
the top three from your perspective. Well, listen, I think it's hard
to put your finger on the calendar where confidence goes. But you look at
like you look. I remember when I first started the narrative twenty years ago.
The narrative was, you know what if China trades treasuries or dollars for
other things. And over the course of the last decade, we've seen,
you know, them move half of their dollars or their US denominated bonds into
agricultural land, commodities, real estate. They've taken dollars and they turned them
into hard assets. So if Japan, who's now the single largest holder of
dollar denominated debt as a foreigner, makes the same move that China does,
I think that could be the major catalyst to send commodities priced in dollars through
the roof, including silver and gold. So that's number one. I think
the other thing that could impact our markets is a recession, a depression,
you know, and and initially, you know, during those types of events,
you know, gold and silver in nominal terms could get impacted negatively for
a minute. But what history has taught us is they will be the best
performing assets and the place to actually from a relative basis to preserve wealth.
So I think, you know, more central banks moving away from dollars sort
of de dollarization, you've got the potential for slower growth or recession. And
then you know, Jim Rickards talks about currency wars, trade wars and then
real wars, and you know the world has gone from cold to hot on
the warfront. So that's that's another risk. But ultimately, there are things
that are happening like growing industrial demand or growing demand out of Asia for these
metals that even without these three factors, I think are very significant. Like
for example, in Q one, the buying that's come out of India for
silver has been material. Like if you took India and solar, that makes
up you know, a third of all demand for solar today, substantial substantial,
So a lot of potential pluses down the road. And even if things
just stay the same, even though they appear to be pretty unsustainable, but
even if they stay the same, the demand aspects are going up for gold
and silver. Yeah, absolutely, hundred percent. All right, Well,
we've got some things to chew over here, really interesting news, and the
results can be better, and we just got a small percentage of them.
In your humble opinion, anything approaching what Mooslam is, Any targets there you
think are going to be equal or even better. We've got all three rigs
turning on the Wolf deposit, and I'm really interested and excited about. We're
employing a method Carrie called directional drilling. And this directional drilling, it's a
little bit more expensive than your traditional drilling method, but the reason we're using
it this year is if you think about some of our targets, you know,
you're going from surface and you're going down, you know, hundreds and
hundreds of feet below the surface. So if we you know, based on
all of our you know, scientific tools like the geophysics, the chemistry,
understanding the geology, if we take all that information and we look at where
we know the mineralization is and if we try to target and pinpoint where we
think we could have an extension, you could have the drill bit deviate from
surface to target depth. What the directional drilling does is it makes you it
improves your precision. And why I'm excited about that is there are multiple structures
that have brought in the high grade silver mineralization. I think this directional drilling
is going to capture more than one structure, which should lead to capturing more
silver over a greater thickness, which would result in better results. So we've
never done it. In the one hundred year history of the DOLLI of our
mood deck, directional drilling has never been employed. And this is tapping right
now and results are pending. All right, so this could be the game
changer in the whole exploration the sector here. Directional drilling like horizontal drilling was
for petroleum in that gas. So all right, well we're going to look
forward to those results. Ask everybody who's watching listening, go over to Dolly
vordensilver dot com sign up for notifications, ticker symbols in the US e O,
L l F and of course in Canada, DV Sean, we'll be
talking to you again soon. We'll see you at the Rick Rule Symposium in
Boca Ratana That is from July seventh to the eleventh, So if any of
you are in the neighborhood, please stop by and we'll talk to you then.
Thanks so much, Kerry, looking forward to seeing you soon. The
Financial Survival Network