Speaker 1: We have large land positions next to big companies and
where our goal is to polish and bring forward a
level of interest by these producers to invest. And so
when you look at the Oa Claire property, you've got
the Oaclaire resource. Not only do you have perceval that's
been turned into a main resource, but you have serendipity.
We've added a huge resource update last spring to the
Oak Claire or at almost one point nine million. Then
more importantly, it's become more economic and now you have
expiration upside. And so serendipity is the first one we
went out to and we've got more than a dozen
more in the property across a fifty five thousand hectors.
Speaker 2: The Financial Survival Network now more than it work, the
Financial Survival Network And welcome.
Speaker 3: This is Financial Survival Network. I'm your host, Kerrie Letz.
We are sitting down for a sponsor update from Fury
Goldmine CEO Tim Clark and chief geologist Brian Atkinson. Great
to have you back, both back on the show. Hey,
we got some great drill results, So Brian, let's talk
about these results. So what do you think the significance
twelve point one six grams per ton over three meters
in the and what does it say about the overall
potential of the Serendipity prospect.
Speaker 4: Thanks Kerri, and great to be gat back. No, it
was a great first sort of pass out there Serendipity.
We had some bio geochemistry at omblies above it. We
be like the geology that was underlying it and the
geophysical signatures that we were seeing. So we went out
and we had a small drill program out there this summer,
and yeah, we had some good success and in a
couple of goals there spread over, we drilled over five kilometers.
Speaker 3: Of strike length.
Speaker 4: Our two hits are two kilometers apart, so there's another
meter at five point seven six grams coming out in
that new released as well. And then and then the
three meters at twelve sort of around Serendipity proper is
you know, it's it's a lot to digest and and
some new hits, new discoveries, so you know, it just
it speaks to the overall potential of the of the area.
And we've you know, and and the effectiveness of our
of our biogeokim sort of geokim pass over top and
then you know what's important there is we've done it
elsewhere and we've got a lot of targets built up
with that. With that, so now that we've proven it
up at both Serendipity and Percy Valve, we're we're a
lot more confident going out and uh and targeting off
of that biogeokim survey.
Speaker 3: All right, So you mentioned that the two significant intercepts
are separated by two kilometers. What do you think that
indicates about the size and scale of the mineralization system there.
Speaker 4: Yeah, I don't know yet to be honest. You know,
it's it's a really strong as as our most organic
gold systems. It's got a strong structural component on the controls.
We're close to the shear zones. You know. In the
past we focused around the Canard deformation zone that runs
along the southern part of the property, but we recognize
the second set of deformation zones up to the north
and running along the eastern side of the Oakla Air property,
the Hashimoto deformation zone, so we targeted around there, and
you know, these are deep seated regional structures that you're
a key for organic gold systems. So there's a lot
more work to do out there. But with the structural
focus and having the overlay of the biologyio chemical anomalois
on top of it. I think we're going to have
more successful there for sure.
Speaker 3: So Tim, can you give us an idea right now
of where Fury gold Mine stands, where you're heading and
what you see for twenty twenty five.
Speaker 1: Oh no, that's a good question. Look right, Look, I
think my thesis has always been to make few goal
the best in class in the junior sector. As a
up bull market starts to take effect, and I think
the bull markets here, I think look at the goal
price right now, and what company with these big producers
are doing right now is paying off debt. They're going
to look at maybe increasing their dividend a little bit.
We're buying back shares, but as soon as they're done
with that, they're going to start looking to spend that
money on buying assets because they're rolling over in terms
of production and they've got to find new expiration sites.
And the junior space has had very little investment over
the last decade. Most of their expiration has been around
an existing mind to keep those going. But we're sensing
and when we went out to Beaver Creek was the
amount of producers that are looking at new assets is phenomenal.
It's a huge uptick. We did some good investor meetings,
but it was dominated by these producers looking at us.
And what I look at as pure is we have
large land positions next to big companies and where our
goal is to polish and bring forward a level of
interest by these producers to invest. And so when you
look at the Oak Claire property, you've got the Oa
Claire resource. Now you have a new Not only do
you have perceval that's been turned into a maiden resource,
but you have serendipity. And so we've added a huge
resource update last spring to the Oak Claire were at
almost one point nine million. And more importantly, it's become
more economic by the change of the grade of the
or the angle of these veining systems, and now you
have expiration upside. And so Serendipity is the first one
we went out to. And we've got more than a
dozen more in the property across a fifty five thousand hectors.
And to give you an idea is that the southern
border is thirty kilometers long that we owned the deformation zone.
So when we sit down these producers, they're like, wow,
this is different story. It's exciting, and they don't want
they want big expiration. And a lot of these other
junior companies are single acid mines that are on smaller
properties and that's that's not where we are. And at
the same time, you've got Newmont selling ellian or mine
up north. It's only fifty seven kilometers north. We could
you can drive a truck it around, you can put
a new road in. At sixteen hundred dollars gold, maybe
that wasn't the main objective, but at twenty six and
going to three thousand, I think that's a much more
feasible idea and you could see a lot more consolidation
in the James Bay region. And that's that's how we're
thinking it could go. What we're trying to do up
in the up north it is to find more expiration
upside and as well on the Eau Claire property, and
that's our goal is to keep moving forward with that.
Speaker 3: You mentioned it the elephant, the room, twenty six hundred
dollars gold. It seems to be going up by the day.
All the experts are saying, no, no, it's going to
pull back to twenty two to twenty three hundred, and
then we're going to have to wait till Q one.
But here we are, you know, it's Q it's Q three.
We're having this run up. How does the increased gold
price change the appetite of the majors and how does
it affect Fury?
Speaker 1: Well, I think the appetite of the majors, like I said,
is every one hundred dollars it goes up, is massive
windfalls of cash to them, and they are madly paying
off debt from what I hear, and that's what you
should be doing right now. But there's going to be
a point where it's going to catch up. So the
longer we stay above you know, twenty five hundred, I mean,
it's just you know, at twenty two hundred, we're killing it.
I mean a lot of these companies are basing their
their A six or average cost much lower. And I
think that I think it's going to have a windfall
effect on the rest of the industry. You just have
to give it a little time to play out. And
what I'm sensing is much more intension. And once this
starts going, you know, people will be scratching their heads
how quickly because they forget how how small the junior
space is, and there's you know, there's there's not as
many quality names out there that they think and or
with big land packages. So I think that it is
going to come. I think if it stays about twenty
six hundred, is going to come sooner than everybody expected.
Speaker 3: We haven't seen these prices before, and in a way
it de risks these projects because they've kept their ask low.
But on the other hand, it makes people nervous, like
how long can this go on for? Right?
Speaker 1: Well, I'm in the camp that I think it's going
over three thousand. I think that the US dollar, you know,
is finally going to drop here with with the Fed
rates and uh, it's been a pent up situation for
a long time. Asia has been buying into gold and
along with the other countries, they're they're pounding it because
they they look at it as a geopolitical play as well.
And I think it's sustainable and it doesn't have it
doesn't even have to be sustainable. If you if you
if you still have this cat, even if even if
it goes down, you still have this massive cash fall.
Because it's been a surprise to the majors, and they've
all been much more disciplined than in past decades about
how they spend money, and so they're gonna put it
to use. They're not gonna, they're not gonna. I think
the comment to me was, you know, they tried to
get tricky a decade ago and maybe put their dividends
up or lock them into gold pro gold price itself.
Uh it, They're gonna keep it simple. They're gonna they're
gonna probably increase dividends a little bit, but that. But
more importantly, what they're missing is new discovery and it
now they're going to have the budgets to go after it,
and these companies are still really really cheap.
Speaker 3: So, Brian, my understanding drill program over for twenty twenty four.
Now we're expecting results, more additional results. Can you give
us a recap of what we can look forward to.
Speaker 4: Yeah, so the big ones coming out will be we
completed the Biogucami grid at elbing Nor South and if
you remember earlier I mentioned that we've proven that that
technique works at Persvalance Serendipity. Now, so we'll be ready
to drill ready there once we get those results in
and then we'll just be permitting those colors. So yeah,
we kind of go back out in twenty twenty four,
but it's likely we'll wait till you know, Q end
if Q one twenty twenty five to go out there
and drill. And then we were also up at Community
Bait for fresh Shore up program this year checking out
you following up on that hit from twenty twenty one
and our new Shares owned model and that. So we've
got some GEOKM graids coming out of none of it
as well. So it's been a few years since we've
been back up there, so trying to generate some excitement
up there and some new drill targets going forward there
and then new drill targets at Allien ourselves.
Speaker 3: All right, so we've got a lot to look forward to.
There's really a lot going on here.
Speaker 1: Well, I think I think Carrie, we're super excited about
this eleanor anomaly and when we get back the drill results,
we're going to make a plan immediately to get back
out there as soon as we can. We've got two
and a half million dollars of flow through money that
we've saved from the from the raised last spring. So
we've got the cash to do it. And then Committee Bay,
I mean Committee Bay. We get zero valuation in our
stock there that's one hundred and eighty million dollars of investment.
Don't tell me it's zero. And I went up to
the summer. The land package is massive. There's millions of
dollars in equipment. There's a full camp, there's a runway
to get in there. That thing is a plug and play.
And you know, once these majors start moving, that's the
kind of stuff they really want and we're going to
get We're going to get credit for it at some point.
Speaker 3: Speaking of other opportunities. So it's still a large holder.
Fury still a large holder of the Dolly Varden of Obviously,
that gives you a great optionality, gives you, you know,
gives you the ability to finance without doing raises. Where
what's your what you're thinking towards your Dolly Varden holding?
Speaker 1: Now I'm on the board of Dollie. We love Dolly.
Sean kun Kung does a phenomenal job. They continue to
move forward in their drill program. They just raised thirty
two million bucks, so they've got a ton of a
ton of money for the next year and a half,
I think silver prices are going to rip behind the gold.
They're thirty bucks right now, and you know, I've seen
it go up to fifty bucks no problem in environments
like this. So we're hanging on will click coupons as
we need money. But you know, and that's what it's
there for. It's not part of our strategy. It's a
source of capital ultimately for the company and to leverage.
And what I think it's allowed us to do is
probably be the low on the street in terms of dilution.
We've been around three to four percent for the last
three years in a row. I think it's a huge
svantage to investors because our share count is low on
a relative basis, but we've been able to keep moving
our projects forward and that's how that's how the Dolly
is going to play. I mean, I think I think
if you look around, there's very few silver plays, and
if silver goes, that's going to be a popular name.
Speaker 3: What's the enterprise value now of the Fury minus the
DV holdings.
Speaker 1: I think I once you take out our treasury, as
we've also got some other security, so it's probably around
fifteen to twenty million in enterprise value. It's, you know,
it just can't stay that way forever. I mean, it's
it's every time we sit down with investors, they're like,
how come it's so low. I mean, you can point
to arbitrage on the Dolly Varden shares that it's kind
of holding things back, or you can point to the
fact that people don't recognize what we've done with the project.
The last three years, we've been out marketing a ton
one investment by a producer into this company, and I
think it's going to get recognized and things are going
to take off.
Speaker 3: I think. So. Finally, Brian twenty twenty five, what targets
are you most excited about?
Speaker 4: Wells Tim mentioned the Elliot our South target, like it's
got all the hallmarks of being another Elliot or geochemically
Doe physically, geologically. We're just waiting on those last infill
survey results and then we'll be you know, pinted and
chopping at the bit to get out there and drill that.
By far, that's the most exciting target we've got in
the portfolio.
Speaker 3: All right, So I guess we will leave it at that.
Make sure you go to the company website and sign
up for notifications so you can get the latest news.
I mean, that's what I do at Furygoldmines dot com
and of course the ticker symbol in US and Canada
is Fury. If you r y and gentlemen, been a
pleasure as always, Thanks so much for the update.
Speaker 1: Thank you, Carry. It's great to be here.
Speaker 2: Yeah.
Speaker 4: Thanks.
Speaker 2: Carry The Financial Survival Network