Speaker 1: This is one of the most exciting girl programs I've
been part of. Not because it's unique that we're drilling
virgin discovery attention discovery holes, which will be the most rewarding,
but the scale of the system is bigger than anything
I have pursued in my career, and that's really been
the appeal and the perseverance that we took on to
get to this point.
Speaker 2: The Financial Survival Network now more than never the Financial
Survival Network.
Speaker 3: And welcome. This is Financial Survival Network. I'm your host,
Carrie Lutz. We are sitting down for a major sponsor
update from Ivan DeBeck, CEO of Copernico Medals. I've in
Hey the picture behind you. The drills are turning.
Speaker 1: Yeah, Carrie, it's an incredible achievement, especially being FRU. We
had first set foot on this trojict nine years ago
and started to identify the opportunity and we're ready to
drill it in twenty twenty, unfortunately as soon as COVID hit.
But the best news is that the drill is actually turning.
This video behind me is almost real time and we're
starting to see the first few meters of what we're drilling,
and so a very very poor little point for the company,
and I look forward to our interview here today.
Speaker 3: Yeah, and the listing is on its way. You actually
have a stock symbol on the TSX now c PR.
Speaker 1: Yeah. So a couple of things that happened. I mean,
if you followed our news releases even though we weren't
trading publicly, we've had a series of major milestones met
since November. We had two senior executives from BHP, one
of the largest mining companies in the world, to join
our team at the board level. This certainly expands our
capacity to explore and look for things that could matter
the companies, like that caliber of a BHP R or
some of the other majors. Secondly, from that, you know,
the two people joining, you know, we've finally got boots
on the ground in early February. And as much as
it's exciting to turn the drill bit for the first time,
and that's really a centational moment as an entrepreneur and
as ex floor and as a shareholds see behind me.
Now we've got our first few meters of course starting
to come in the event and the team and the
way it team together and what we're seeing on the project,
in addition to what we're drilling, is really complementing the
scale of this massive system and so much robust expiration
opportunities that we haven't even touched on yet. So not
only are we going to get to drill a very
very big system continuously for the next twelve months, we're
also going to be able to expose some other considerable
targets that we're finding in and beyond the system so far,
so things really really have scaled upon us in terms
of size. The grade has been visually very appealing in
various parts of the property, and being back there to
work with both the drilling and the exploring, it's kind
of a dream from our perspective, and as a shareholder,
you know, the only way you can really make that
overrun potential, the best way to do it actually is
while drilling. Every month, we will have a drill turning
here in the next twelve months. We're funded to drill
at least thirty holes, possibly more. The program is going
to be very dynamic. You know, we're drilling in areas
that have a thin layer of cover, so it's kind
of like if anybody has reading glasses, if you look
at something without the reading glasses, you see it blurry,
but once you drill through it, we're starting to see
really good resolution on the rock and seeing where we
are in the system and where to go, you know,
pursue the copper and gold mentalization that we've seen so
abundant on surface. So this is one of the most
exciting drill programs I've been part of. Not because it's
unique that we're drilling virgin discovery potensial discovery holes, which
will be the most rewarding, but the scale of the
system is bigger than anything I have pursued in my career,
and that's really been the appeal and the perseverance that
we took on to get to this point. You know,
having set foot on the project nine years ago, we've
been through quite a bit of capital, almost forty million
dollars to get here, and we've been through various personnel.
You know, it's tough for people to stay on a
project this long and to finances. So we're in really,
really good shape. The drills turning the course started to
come in and we're super excited. We're just in the
first few meters and that part is great. We don't
know enough to comment on it obviously, Yet except for
the technical side of it, they would like to see
more drills added in a timely process because there's so
much excitement around the targets we're going to go after,
so very exciting time, very strong team from the board
level down. We've refreshed a lot of people on our
team as well at the management levels, so that we
have fresh eyes and press perspectives on very very good
work that was done previously. But surely this is falling
on perfect market time for a world class copper discovery.
Speaker 3: I would assume it would have to be something very
special for you to spend nine years. And it's a
roller coaster, right, There's a lot of ups and downs
and a lot of frustrations, and yet, like you said,
you persevered.
Speaker 1: Yeah, it's a good point to make. And I've had
the luxury of being around some very smart people in industry,
the likes of Ross Beedy and Lucas, the late Lucas
lending something that really set out for me in the
final year, which was the toughest year, to hang on
to this project and get it through the permitting when
everybody was sure we wouldn't get here.
Speaker 3: It was the.
Speaker 1: Comments around the history of Philo Mining and the twenty
two years before they hit the big hole and their
share price went from three to twenty five dollars a share.
That's a long time. That the longer time than the
nine years we took. And you know, if I look
back and the twenty five years I've been in the business,
the big ones take time. There was always a challenge
to whether it's social permitting or you know, logistical challenges
to physically get there. It takes a lot of visionary
perseverance to get through. And the best part about it, Carrie,
is we're here now. And although nine years is a
long time, it's almost half of my career. It's the
next nine years that are going to be really history
making if we get it right. And that gives us,
you know, a lot to think about. You know, there's
street factors that are in front of us. You know,
how fast do we drill? And you know, how do
we strategically identify the scale of the system early and
monetize that in our share place. That's that's number one
on the top of what we're going to do here.
What happens if you find something and it's big and
you have great currency, but the trip takeover transaction is
not there. We're looking at other assets. You know, we
would like to consolidate some really good assets in industry
free if we got currency and were taken out by
a major mining company, you know. And the last part
is finding these things are extremely rare. You know, nine
years to get to this point. If you're a new investor,
you have to look at this and say, well, you know,
the drills are turning. I get to capitalize on nine
years and about thirty five to forty million spent before
this first drill program. I get to save all the
time it took to identify and get to the drill
bit and every month for the next twelve months or
possibly much longer, I get to experience the potential superlaudo
ticket and the way the results are going to come.
They're going to come informative, and we're going to get
indications that we're there, we're not there. We're going to
get opportunities to drill something that's really really obvious for
us as the big discovery, and we're going to hope
to see that very early. But the SCARN system and
likely or potentially a big porphry system as well. But
scarns are variable, and that's something that is you know,
turned off a lot of people to chase them. And
what that variability means is that can take five or
six holes or twenty or thirty holes before you get
that first discovery. And the only way to mitigate that
risk in that time frame is to have enough capital
to go out and take that on in good market timing,
and we certainly have both of those. The one part
I do like about scarns and first learning about them,
is they have great more often than not. And in
the case of Somarro, we have great a surface and
this is a scarn system that's you know, daylighting on
surface in various areas or osional windows. That's really compelling
to us because it increases the probability of potential success.
It gives us a lot better shot at finding something
that could be very rich surface. And then the infrastructure
in the region is outstanding, with power lines going right
through the property, three multiple water sources nearby, through towns
nearby for a workforce. And you know, it's been an
honor to be here as an explorer in somebody else's backyard.
And the way we got through is not not a
mystery anymore. But we brought agricultural programs grants from the
government into the ANDES and these programs have been very
beneficial and they'll be sustainable long after we're gone in
the event that this wasn't a major discovery. But right
now we have a large treasury, we're funded for at
least twelve months of drilling continuously, and we have capital
to October the next year. So we are in a
very very strong position, which is very unique to the sector.
The fact that we are drilling, we're funded, and we
have working capital to almost the end the next year.
And that time frame is very important because because we're
know my view, we're at the pivotal purning point of
the visore sector. We're coming out of about a twelve
year bear market going to the next leg up, and
precious and base metals, as you're seeing in recent moves
and both copper, gold and silver, you know, you're seeing
demand come from the electronic electrification initiatives, You're seeing the
precious metal counter US dollar and plationary presence that it has,
and you're starting to see all the right things that
are happening. But at the same time, as I say that,
there are junior resource companies that are closing the doors.
They're done, they can't make it through. So it's a
very unique environment, but very opportunistic one. And I guess
why I just made that last statement is things are
a lot cheaper now than they're going to be and
a lot of people like to buy things that perfect time,
and I certainly do. But to get a hold of
a good share position and a big opportunity, you have
to buy early, and sometimes you have to ride the
market down before it goes up. And the most important
thing for me on this project was the development of fundamentals.
Each layer that we applied to technical work got more
and more supportive or a thesis that this could be
the next Lost Mambus, which is the elevel largest proper
mind in the world. I mean to even make that statement,
you know, in any way, shape or form, and to
have people joining us at the board level, senior executives
from BEHP, you know, that kind of complement to the team,
that's that's really outstanding for us, and it gets exciting.
And so now we're throwning to drill and you know,
unfortunately it's lack of sleep when the markets are bad
and you don't have permits, and it's lack of sleep
when you get so excited that things could really work.
Speaker 3: Out and you've got quite an impressive land package here.
So this could kind of just be the tip of
the iceberg.
Speaker 1: Huh, Yes, absolutely, this could be. This could be just
the beginning. And that's the other thing that we don't
talk too much about. Because we get to drill seven
kilometers continuous targeting from what we've identified at surface to start,
which is was just substantial in size, but we have
another four kilometers that will add to that once we
get additional permits. So you're going to see an evolution
of permits and additional targets through that land package. You know,
we've had a chance to start looking at the rest
of the land package and evaluating what we keep and
what we do don't keep. It's an expensive land holding
to hold onto. It coross the solust six hundred thousand
dollars a year just to pay for the claims, and
so we want to be very efficient and rationalize all
of our land that we have and stick to the
things that we can drill within the next few years
that could complement this system. And you know, watch out
that we don't get caught up too much in long
term expensive landholding exercise. But we couldn't really do this
up until we got to work on the project, and
we're already to see new things in new areas and
it's a very rod lessystem.
Speaker 3: Yeah, no substitute for boots on the ground. But there
was some historic drilling there a while back, and that's
what kind of tipped you off to this project.
Speaker 1: Yeah, so great, great comment, and really that's the history here.
This project was under a government survey done by the
Thruvin government. They actually age data the mineralization of when
the middle is the copper and gold formed to be
much much younger than it actually was. You know, it's
about forty million years old, which is the eost And era,
and that era when these deposits are formed is critical,
especially when looking at minds like LUs almost Entaia, Constantia
next door, you know, and if it doesn't fit in
that box, a lot of people will look past it.
We took a chance and we just kept seeing copper
and gold on surface and that was our benchmark to
look further. And we started doing channel sampling and we
would sample one hundred to two hundred meters of really
really rich copper and gold, and that's what drove us
to go ahead. And then we came upon these rolls
at the end of our first apurt of expiration, right
before we were going to apply for drill permits, and
these roles for drilled for iron, and they were never
sampled for copper, and they're right on the edge of
the system. They give us a speculation or a chance
to fingerprint the rest of the targeting, and we were
the first to sample those for copper. And the reason
why they weren't sampled previously is because the iron explorer,
once you see copper in your iron, it's metallurgically not
extractable efficiently or economically. So we sampled it and it
matched the grades on surface and it gave us that
thrilling excitement that the discovery could be already there. So
this is more of an expanding discovery exercise than trying
to make something completely new. And that was also the
edge that had helped us finance and persevere through COVID
times and tough capital environments to get to this point
where we are today. So there is economic or perceived
economic caught from molmentalization in the third dimension. It supports
the rest of our targeting of what we're doing. There's
some very very good exposure on surface and we're now
just trying to drill to see if we can find
large amounts of what's there, what's already been discovered in
several new areas. And the best part about this troject
is there's so many places to have a big discovery
along it. You know, some of the larger minds in
the world are one to three kilometers long. We're exploring
seven kilometers of strike length in this first targeting phase
and we will have draw results coming as early as September.
Speaker 3: Well that's quick. So how deep are you going to
go here?
Speaker 1: Yeah? A good question, Yeah, good question. We see reason
to go from surface quite deep in our targeting. But
we're focusing on the first vertical three hundred meters, which
will be about an average depth of three fifty to
four hundred meters for the hole. So that's where we
plan to drill about sixteen holes or more by the
end of this year and then continue on with another
fifteen holes in the first half of next year. But
that we're targeting everything near surface that's the low hanging truth.
If we do see something with incredible grade that tells
us to keep going a bit deeper, that could really
scale the project and fits in a reasonable economics since
the near term time frame will go after that as well.
And then lastly, you know, there's a lot of talk
right now, and it's quite speculative about a causative intrusion
being nearby to form all of the copper gold mineralization
or FIFTEM. Sometimes there's these engines underground which would bring
up the minimalization and that would be more than likely
a causet of porphyry that's created all of this. So
there's targets there, there's no shortage of targets. And the
best part about all of what I've just said is
we can drow thirty holes testing all those aspects here
as we go into a rising potentially rising metals Marcus.
So the financing we did was the real key aspect
to starting this project on the right foot. Tech Mining
bought in as a nine point nine percent investor. I
think that's a very very substantive endorsement. Not only do
they have operations in Peru, but they were on the
project back in twenty eighteen, and they have some experts
that are quite familiar with the region. Their endorsement was
competitive amongst three other majors that were trying to come
in and get a piece of the deal or go
and venture the project from us, and so it came
in on share terms for both sides, and having them
in the background, it opens up a lot of possibilities.
You know, we can get to get it right. But
as an explorer, you know you want third party validation.
No matter how good the rocks look to you, you
want to know that they can look good to somebody else.
Long bias can form, especially over time when a good
expiration project. So bringing tech in certainly gives us a
very very respectful third party validation from a very smart
company with a very deep technical sense of great discovery.
So that's where we sit today. Both Tech owns nine
point nine neumont owns about six point two percent of
the company. We're in touch with both of them on
a fairly regular basis as we go and drill this.
And there's about three other major miners watching closing their background,
and you know, big minds are much harder to find
now than they were about a decade or two decades ago,
a lot of the more exposed discoveries have been made,
and a lot of capital has kind of died in
the expiration sector and hasn't made it to the drill
bit as much as we really wanted to see. So
these things take a long time to put online. They're
rare to find if we get it right. And the
greatest thing about Sombrero is it has a very big
if you know, if you start getting it right, it
could be world class top twenty kind of mind exploration
projects in the world. And that's what we're shooting for here.
Speaker 3: Hey. And while the earnings of the majors are coming
in really well, like Numont, it doesn't solve the problem
of dwindling reserves, dwindling resources. So when they have a
credible junior like Copernico, they really have to back it.
They almost don't have a choice, do they.
Speaker 1: Well, you know what I think they comes down to.
They want a shot at it because the money. I
hate to say this, and every junior mining CEO is
going to not like this, Carmen, but it's one we're
all living is money's really hard to find, extremely hard
to find, and especially in this environment, and that's the
reality we're all facing. The easy part, I hate to
say it is the money, and the hard part is
the asset. And I've been to your bear markets before,
I've been through the OA correction, I've seen it all.
And the one thing that is really hard the rocks.
You know, to get an opportunity like this is worth
more than the capital. So when looking at this with
the majors and watching them all perform extremely well, having
some incredible quarters at these new metal prices, we're in
that sweet spot where there's a lot of money around.
But the importantly, there's a lot of supply missing on
especially quality supply, and you have to really use the
word quality on anything about half four percent copper that's
at surface with infrastructure that's going to make the top
thresholds of the better minds in the world that are
being pursued or being mined, and that's what we're chasing here.
So yeah, you can't. And then look at the time
frame the last point. Look at how long it took us.
Took us nine years to bring this project online from
kicking the first raw, but four years to permit and
drow with a hang up with COVID and that's that's
a remarkable thing you can't put a price on. So,
you know, we're in a position now with you know,
potentially what everybody wants at a timing that looks like
it could be much better than the last few years,
and an opportunity in the supply curve to really capture
some of the demand that's can outweigh the supply here
in the next eighteen twenty four months.
Speaker 3: And as a shareholder here, the way things are shaping up, hey,
who knows, maybe in a year or two you'll have
a bidding war where the majors are all going all
in on this project, because, like you say, the rarity
is something of this scale, this quality, it just isn't.
Speaker 1: There absolutely, And so you know, if it's there and
it's big enough, not only could it create a competitive environment,
but it could contribute to long term proper needs globally
for the planet. And that's something else we look at.
I mean, the prize is huge. And third point is
the people that it's going to impact, you know, locally,
you know, just seeing that potential positive, very positive benefit
for them for multi decades, multi generations to come. This
is a real special one, and it's you know, in
my world, no matter how hard it's been, it's been
more than worth the way. And now it's that exciting
part with the drill turning, going back towards when can
you actually trade the company shares. We are conditionally approved
to listen the Toronto stot Exchange. That's the main board,
that's the large exchange in Canada. It's one of the
best mining exchanges for companies in the advanced explorations. To
stay as we are, it'll give us tremendous access to capital,
both retail and institutionally. The second point there is it'll
be easier for you to trade it as a US investor.
There is a rule that we trade for at least
thirty days and an international exchange before we can upgrade
our US symbol. So we're going to be looking to
do that and hopefully within two months we have a
US symbol and we would eventually pursue one likely pursue
one to listen the NAVES the AMEX Exchange, and we
believe we'd meet all that criteria once we have six
months of trading on the Canadian International Exchange. But the
Toronto Exchange should be a lot easier for all investors
to access on not just US, but also in Europe
and other parts of the world, and we look forward
to that. As far as timing, I can't be specific.
We're at the final documentation, we receive the conditional listing,
we're filing that in a timely manner and hope to
be trading in the first two weeks of August. As
of August fourteenth. If we don't list by then there
is a penalty of some warrants that we have to
give out, and we feel very conmpident we're going to
list before that deadline, so we're going to do what
we can to get there. The exchange has been exceptional
in dealing with us and getting us on a fairly
timely basis, and you know, we're going to be in
a very good position going into the fall, not just
with draw results here, but to have twelve months of
potential drawer results that can could indicate or give us
or show us that we're onto that big discovery that
we're talking about.
Speaker 3: And not to mention TSX liquidity wise and spreads, it's
much more favorable for traders and investors than lesser exchanges
around the country. Round the globe for that matters so well.
Definitely exciting times ahead. I'm glad I couldn't trade my
shares for the past few years because I held on
to them and I'm expecting good things coming. Hey, you
want to go over to Copertico Metals that see O
p p E or ni ceo Metals dot com. Sign
up for the notifications, get those drill results right away,
and again the symbol on the TSX will be cop
R and we'll see what it comes up in the
US as Hey, maybe you'll pull it off again and
you get the same symbol on both exchanges, which would
be great, even though it's a little more difficult when
you're looking up to see the price. Yeah.
Speaker 1: Well, thank you, Kerry. And this is a special thank
you to all our shareholders. I know it's been top
it's been a long wait. I'm there with you. I'm
put it in a substantial amount as well. And I
run this company as a shareholder as well as the CEO,
because that's where we all went in the end, is
by share price performance. But I just want to thank
everyone for the patients, and I want to thank all
of our stakeholders and helped us get through and believed
in us that we would do this the right way.
Improve and the proving government agencies that have helped us
get through permise, even though it's taken some time, but
in a very respectful, timely manner. We see Peru changing
and going in a very very positive direction towards exploration
and permitting, and that's something we are living firsthand. So
we're very thankful to that, and we're thankful to the
board and the team that stuck with us, and so
we're really excited. Thank you all for your patience. And
now it's up to the drillbit and what we can
do with what we find and if we comply to
dig it up. But thank you very much.
Speaker 3: All right, Hey, and I just looked at my shar as.
I just put them up on a shelf in the vault,
just left them there, and knowing one day, just like
just like my physical metal, this was going to pay off.
And hopefully we're closer to it now than we've ever been.
Speaker 1: Thank you very much, Kerry, appreciate all your support.
Speaker 2: The Financial Survival Network