Here is the most recent interview from ValOre Metals Corp.’s investor service. If you don’t know this precious metals exploration company, take a look at this article (in French). You can also read the previous interview of the Investor Relations department (in english).
As a reminder, Valore Metals Corp. used to be a a specialized company in uranium before recycling into PGE metals, i.e. platinum, palladium and rhodium.
Focus on Pendra Branca
The price of Uranium has risen sharply in recent weeks. Will this price increase encourage you to restart the operation of your Angilak property, which is full of Uranium?
ValOre Metals Corp. : We are watching the Uranium price with a lot of interest, at this time we are holding tight and are fully focused on Pendra Branca, that being said, with rising Uranium prices we are watching closely.
Are your other properties, Hatchet Lake, Genesis and Baffin Gold all stopped?
VMC : Yes, currently we are focused exclusively on Pendra Branca.
Where are you in the exploration of the Pendra Branca site in Brazil? Have you started the drilling program?
VMC : We recently announced our drill program, targets, permitting, and access to capital. Assuming no COVID-19 interruptions we will start phase one early June this year.
Precious metals in Pendra Branca
Do you have a more precise idea of the concentration of precious metals that the site holds?
VMC : Currently, we have a 43-101 resource that 1.06m OZ PGE+Au at 1.22 g/t, this is about 2/3 Palladium, 1/3 Platinum. In March we also assayed pulverized drill core on the property which resulted in some great results of Rhodium of 1.44 g/t.
Is there a date for the final feasibility study for this site?
VMC : Not at this time.
How do you plan to finance the possible construction of a mine at Pendra Branca?
VMC : We are looking to grow this project through exploration, eventually we feel this project will be an ideal target for a mid or large tier producer to acquire us and turn it into a mine. Our group has done this multiple times including the sale of Kaminak to Goldcorp for 520 millions $ in 2016.
Will a capital increase via the issue of new shares be necessary?
VMC : The capital we have access to at this time is a revolving line of credit with no warrants attached. We will need to raise money in the future, the plan is to use this initial funding to provide results, then raise capital at a higher valuation.
Some investors are a little disappointed not to see the share price move, what would you say to them?
VMC : We are a group who takes their time to ensure projects are done correctly, that being said, we are ready to go. Lots of catalysts to come this year!
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