Each time we showed this to a major minor, you know, it was
was a very very consistent response. This is a tenet of ten on an
opportunity, a big opportunity for grade from surface and scale that would measure in.
You know, in our view that the top ten potential global discoveries for
Coffer, that constant narrative kept coming back from the majors, which is what
drove me and gave me that confidence that we were chasing the right thing.
We did consider looking at other assets at one point just to mitigate the risk
of this, but the team pulled really strong in Peru and you know,
time spent in the community doing great things socially and environmentally, and with with
the farming and agriculture we brought in, it paid its dividends and so far,
you know, we've been lucky twice out of three times on this project.
The Financial Survival Network now more than ever the Financial Survival Network. And
welcome. This is Financial Survival Network. I'm your minist Carry Letz, and
we have an update on a project that has been going on for so long,
finally reaching fruition, talking about particle Metals. Find it at partico metals
dot com. CEO, Ivan Bewick is with us now. Ivan, the
things are actually starting to happen with Copardico and well some thought it couldn't be
done. But with a copper price at four dollars and sixty three cents firm
community backing, you've you've actually pulled off the impossible here. Well thanks,
Kerry. Look it's it's been some time and a lot of promises were made
back in the twenty fifteen to twenty twenty effort where we raise the spent over
one hundred million dollars looking for some of the world's largest discoveries, and we
came on this Sombrero project, which advertised as an incredible asset by expiration potential,
but came with a price which which unfortunately for investors who are extremely thankful
for has been time. You know where we're sitting at a threshold here of
a major threshold. We crossed with the communities where we've had a chance to
live in the community, spend eight years learning about their needs and bring in
predominantly agriculture programs to help them, you know, benefit with their nutrition in
the Andes, an area that doesn't see much agriculture. These programs it's led
to a really strong sustainable relationship between us and them, and it's giving us
the ability to drill our first holes here in the coming month or so.
We'll be hoping to drill here in June on one of the most coveted copper
assets I'm aware of that's available to drill globally at the moment, right And
you know, you kind of went through a lot of obstacles to get here,
not the least of which was getting the community support, full community support
and getting your permits. Yeah, so these obstacles. You know, there's
there's two major things we faced here. One is is it expiration? Is
it probable enough to be a major shot? You know, is that is
that put potential for multiple big discoveries is at present or not? And we
got through that through multiple areas of work that we've done, not only demonstrating
considerable mineralization on surface we see it in the third dimension with some previous role
holes, but we also were challenged with the age of when this mineralization was
formed. We and several major mining companies confirmed that it was all formed at
the same age as all the major minds nearby on the same mining trend.
This is an event in our careers to possibly extend a world class mining trend
which would go well beyond a big discovery, would give us the chance to
have multiple potential major discoveries. And going back to Orrin in twenty twenty,
right before COVID when we decided to do the split, the actual whole spirit
of that transaction came from a gentleman that was the head of expiration for BHP,
the largest mining companies in the world. This name is Keenan Jennings and
if you watch in recent news that Keenan has recently joined our board and he
became a shareholder in the company. But he pulled me a side back in
twenty eighteen and said to me, Ivan, look, this is at the
top of our list for a coveted exploration projects and my favorite one. And
if you want an investment from us, or if you want us to eventually
consider buying this from you, which is our end business goal to sell to
a major once we'd monetize and de risked a lot of the discovery, we
would like it separated from your gold and silver assets. So that was the
spirit, and we took that forefront where we stumbled first was in twenty twenty
one, once COVID was in full effect. We were not able to have
community meetings or assemblies, nor did we push them. When people's well being
and health was of serious concern and it was at the forefront of everyone's mind.
We actually had a chance to step in when governments were burdened with constant
issues around their country and we were able to step in into these world communities
and help out where the governments weren't quite able to get there, and then
further on continue building incredible relations. Bringing in the agricultural programs to help with
the nutrition in the region as our first major commitment to these towns. We've
now expanded that and now we're actually creating jobs and everything we're doing carry is
going to last well beyond whether we find a mine or not. Expiration is
a risky business. It comes and goes, but the communities we're impacting with
our social efforts are going to be enjoying these positive, sustainable benefits for many
decades to come, and that's something we're extremely proud of. The weights to
get to being listed, or to the stage of now where we're financing ourselves
to drill and list the company. This weight's been tough because it endured that
the worst two years that I've seen in my twenty five years being in the
business, and probably the same for every mining billionaire entrepreneur I've spoken too well
before my time, it was challenging. The cliff that Metals fell off of
in twenty one twenty two, in a bit of twenty three, it was
quite severe, and I had never seen sentiment lowers, so it pushed a
lot of a lot of perseverance, and even at the board level there was
concern a year ago. The board wasn't sure we'd make it through. And
at the same time, you know, shareholders were frustrated, and it took
you know, some check writing for myself and many great shareholders and some new,
very big supporters to come online to get us through. And I held
on. And you know a lot of people ask me, what was your
main ingredient to persevere through all of this. Well, there was three things.
There was the opportunity, no question, because it starts there. There
was the constant improvement in our relations with the communities that are affected by this
project, which was very enticing. And Thirdly, it was the outside interest
of major mining companies, and I think we've checked the box of five or
six of some of the larger ones in the world, and we kept getting
a ten out of ten report card on the expiration opportunity. This certainly doesn't
guarantee our discovery. But the way we're looking at this project right now is
we view three to or four holes to confirm the thesis that we might have
the next potential bombas in the world, and probably it'll take us three to
three years minimum to find out it's not there. And that's the longevity that
you want to have as an expiration investor behind your investment. You know,
we're raising capital right now, and I'm sure we'll get into that in a
moment, but we're going to get a couple of years of working capital and
four different phases of drilling funded. That's our goal here, so that we
can keep testing and testing, and if we get it right early, the
chance to perform for a share price is going to be substantial. If it
takes a bit more time to get it right, we at least won't have
to go back to market to keep raising. So we're at a very very
very pivotal flection point with Joe permits in hand that came in about two weeks
ago, and getting our capital to go drilling here, which will start in
about a month's time after the financing closes in May fifteenth. All right,
so let's talk a little bit about the team of how it stands right now.
Yeah, that's a great topic. You know, we started with some
great geologists from Numont and you know it's rare to see this, but in
the case here, you know, I have to say it did. The
project actually outlasted some geologists, even though it has all the potential. And
this is no fault to them. Is everyone loves the asset, but it's
just time and pressure and concerns with industry. What we've been able to do,
though, is bring in some new people to the team. Christian Rios
or SVP of Corporate Development, who's based out of Lima. He's not new,
he's been there from the beginning and he's been our key person, not
just with communities arranging all of the great things we've done, but with the
government in Peru to get us through the permitting process and give us some really
good footing in country. Tim Kingsley's new he's been with us for about a
year and a half. He's our VP of Exploration. He's got about nineteen
years in the business. He's very prudent. I would say he's an understated,
underspoken geologist. And the first thing when I showed him sombrero, when
we showed him with our technical team, first thing I asked him was what
do you think you know all these majors love the asset, the previous geologists
love the asset. And he said, Ivan, I'm not going to tell
you until I go see it myself. And he had to go to the
project twice before he came back and finally gave me the big thumbs up on
the project. And that's important because the more you look at the project,
even the rock over my shoulder here in the video here, the more you
look at the rock, the more you like it, and you get a
bias that develops over time. And bringing somebody in new at the forefront of
the project was fresh eyes and fresh perspective. Tim was the first person we
added. The second one was Keenan Jennings, who I'd met back when he
was with PHP and obviously there was interest in the project. Keenan comes from
a very very impressive geological background. He had worked on Outogo for Rio Tinto,
he had subsequently worked on had been to Sombrero and worked with a BHP
as head of exploration. He actually had a familiarity with lost Bombas that supersedes
all of us, where he was mapping lost Bombas back in two thousand with
Anglo before that discovery was made. So he came on at the board level.
His background has also got an MBA and he's a very very commercial minded
economic geologist, so he actually thinks about the monetization part just the same as
we do. And the combination with him Tim Kingsley, Christian Rios and Antonio
Reebis was formerly the VP of Geosciences for BHP. Having those two executives really
gives us the ability to punch well above our belt in terms of technical ability
and to measure it a quality that you would hope to see at a major
mining company. So that's how we've set ourselves up here as we're about to
take on this exciting multi year exploration effort to go find the big One.
I couldn't be more happier at the board level as well as on the team,
having hungry geologists in their mid forties as well as a senior geologist you
know, approaching sixty and early sixties. You got a combination of experience and
knowledge with hungary and mature geologist on the team, which is this is one
of the best teams I'm aware of globally right now. So this is multi
year efforts. Year. It really has been a roller coaster. It's had
its ups and downs, but yet you persevered. Yeah, the perseverance it
came from the majors. You know, each time we showed this to a
major minor, you know, it was was a very very consistent response.
This is a tenet of ten on an opportunity, a big opportunity for grade
from surface and scale that would measure you know, in our view that the
top ten potential global discoveries for copper. That constant narrative kept coming back from
the majors, which is what drove me and gave me that confidence that we
were chasing the right thing. We did consider looking at other assets at one
point just to mitigate the risk of this, but the team pulled really strong
in Peru and you know, time spent in the community doing great things socially
and environmentally and with the farming and agriculture we brought in, it paid its
dividends. And so far, you know, we've been lucky twice out of
three times on this project, lucky to find the project and have the opportunity.
We've been lucky with the communities to get the access with them, and
we can't wait to do more with them and provide additional jobs as we go
forward. And the third luck we're going to look for us is at the
drill bit to see if we can find something of substantial scale in this rising
copper environment. And it is truly a remarkable time. And I wish Kerrie
that I could take credit for planning it this well, but the copper market
has certainly planned us as we see copper at around four to sixty three a
pounds US as we're talking today, and we're just entering copper deficit here,
which will be a lot more serious in the next years to come as electrification
and the modernization of the planet with the new electric vehicles as well as AI
initiatives are really pushing forward on the technical innovation demand. And I think copper
as itself, it sits in a very tough spot for quality copper deposits.
And then the last part about copper, which is really important and no one's
talking about. This is three of the top ten copper minds in the world
our schedule to shut down in the next ten years, to be at the
end of their mind lives. And this just adds way more to already a
really good copper market here of consequence, that's just starting to get started.
And you know, the view we had back at Oran was that all commodities
would pick up as we're going out to make these world class discoveries, and
we certainly see gold and silver are starting to participate. The copper's kind of
been the big, the bull leading one that's that's got everyone's attention. It's
very easy to understand anybody with an electronic device or an electric vehicle or is
building or renovating their house can understand the amount of copper that's needed. But
a lot of things that I've said this before, the world got it wrong
on the supply side. You know, we saw one minor disruption with the
mine in Panama Cobre Panama versus Quantum's mind, and the impact of that is
serious. You know, there could be more disruptions. You don't know.
But at the same time, on the exploration side, which is what we
do, it's even harder to find these things hard enough that will spend half
my career chasing a big swing like Sombrero and our Copernicle main flagship asset has.
And that's where we are today. We're about to get our financing complete
and start with our first drill permits to start drilling in the next thirty to
forty days. Amazing, amazing because I've been following the story for the better
part of plus to five years now, and I to admit there are times
I was scratching my head, thinking can you pull the rabbit out of the
hat? Can this really be done? Or is he'd just taken on too
big a challenge that no mere mortal can really overcome. Yeah. Well,
I'm a shareholder first, Carrie, and i'm a coe second. And you
know, from my original position at Oran, I bought over five and a
half million dollars of Oran in the open market, up to as high as
three seventy five per share. And I didn't buy that for any other reason
than personal greed, and I thought we had it. The first half of
that was buying because of Committee Bay. The second half of that position was
because of the opportunity as Sombrero, and I've added more since then to keep
the company going and get to this flection point where we are. I mean,
you know, when I look at these companies that I'm involved in any
aspect, I always look at as a shareholder first, and that's where the
benefit has to come at the end of the day, secondary to the communities.
And I learned on the social part with Keegan, our first company in
Ghana, West Africa. We impacted eight thousand people with that discovery of fine
million ounces, and those people today are continually benefiting from that footprint in terms
of what we're doing here, whether we find a mine or not. But
even if we do find one, long after the mind's gone or the money's
made, this community is still going to be benefiting from all these agricultural programs
and many different things that we're going to do with them over the years as
we go on this adventure. So that's a really big gratification part. It's
not just about the money. It's also about the people. But if you're
an investor into our company and you've been able to wait this long and you
still have your position. You're very lucky, and if you're new to the
story right now, you're even lucky here because you're paying for nine years and
you're paying for some perseverance and tenacity that is uncommon, especially in volatile,
tough times. But the asset, the background, the feedback from third parties
has been strong enough to give us that third party validation that we really have
a shot here, and that points to me to the next point we're raising.
We announced we're raising fifteen million dollars. We announced that a major mining
company is buying nine point nine percent of Copernico, the entire company. This
is a significant mote of confidence. Once again. Numont does own eight percent
of the company and their most recent position was we want to see what happens
with the drill bit. The new company coming in won't be named until the
closing of the financing, but they jump that. They jumped the line on
four others that we're looking at. It very serious, and the big challenge
we had with some of these negotiations was a lot of the bigger miners wanted
books to production or ways to invest at the project level, and we felt
that would really limit our upside as what we've set out to do for shareholders,
so weed it. We picked one of them that fits best with what
we were looking for, and we're already developing an excellent relationship with them,
and I think they're the right partner right now to drive this thing ahead.
And we're going to be in a very very strong financial position here shortly as
we close this financing in the coming weeks, and we're above interest on what
we went out to raise, which was fifteen million. So we'll just be
intelligent on a case by case basis to take the best shareholders and looks to
go drill some of the best holes we can in this copper environment. And
then I guess that's the next major step for us, and then the question
will come down to how do we know if we've got it or not?
And that's the next step. So in our presentation you can go to the
back of the deck in the appendix, we've got a couple of slides from
Los Bambus and if anyone's wondering if we already have holes that indicate that that
thesis is in place or if it's going to continue, and if we're on
to this big potential thesis that we might have major mind. I'd encourage you
when you wait for a draw results to go look at those holes drill that
lost Bombus and they range from forty meters to one hundred and fifty meters of
point four to one point five percent copper. But they they're right from surface
or near surface. They're continuous to a point where Lost Bombus has about one
point six billion tons a point six percent copper. And to translate this to
gold, that's about fifty million ounces of gold five zero million ounces of gold
in gold numbers. And that's what we're looking for in copper scale. To
give you kind of the gravity of how great this opportunity really is. Right,
and then I guess once the financing is completed, you're moving ahead.
Listing is going to occur at some point in the not too distant future.
That's that's now the most asked question by shareholders. Everyone's wondering when we're going
to list. Where we sit there is. We're filing our last documents.
It's an A AIF and an independent technical report called the forty three to one
filing those with the completion of this financing with the TSX, and we're looking
to apply to list there and we hope to have a listing trading symbol within
three to six weeks after that application is filed. It will be up to
the exchange and how quick or long that takes, but we've done our best
to have all documents in order, so stay tuned for further updates. Will
be very, very very formal with our updates as they come, so we
can give everybody a price there. Sorry, I'm in a symbol to look
forward to for when this company might trade. And the recent financing was done
at fifty cents with a half of warrant at seventy five cents. That's good
for two years. Just to let everybody know what where we've recently valued the
company. That's about a seventy million dollar valuation pre money, and this gives
us, you know, I think a very fair opportunity based on the thirty
five million we've spent and the nine years of time that we've put in to
get to this point. So very exciting four to six weeks ahead from this
interview that we're doing here, Carrie can't wait to trade. A very excited
to turn the drills and see what we've got, all right, exciting times.
I'm really happy you on shares as well in the comparticle and looking forward
to when they become free trading on the market. But for sure it was
worth holding out just for the story, the excitement and the future potential in
any event to go over to coparticometals dot com sign up for email alerts so
you will find out when the financing is completed and as well as when the
inevitable listing will take place ed If you have any questions, just direct them
to me, Carrie Let's k el at Carrie Lutz dot com Ada. Thanks
for stopping by giving us this update and we'll look forward to more. Thank
you so much, and thanks for your patience and everyone else who had patients
with us and those who've written checks to help us get through. Thank you
very much for your support. And it's gone to a great place and some
great things are finally happening, so look forward to it and thanks again and
carry the Financial Survival Network