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