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  • Pages
  • Editions
01 Cover
02 Welcome Letter / Sections
03 Article & Interview Directory
04 Section 1: Introduction
05 Introduction to Mining in Ontario
06 Government of Ontario Interview
07 Ontario Mining Association (OMA) Interview
08 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Interview
09 Navigating Uncertainty
10 Ormston List Frawley LLP Interview
11 PDAC Interview
12 Section 2: Production and Development in Ontario
13 Production in Ontario
14 Map of Ontario Mines
15 Newmont Interview
16 Barrick Gold Interview
17 Wesdome Gold Mines Interview
18 Alamos Gold Interview
19 Evolution Mining Interview
20 A New Wave of Ontario Gold Mines
21 Argonaut Gold Interview
22 Equinox Gold Interview
23 Industry Thoughts: Production and Development in Ontario
24 Section 3: Mining Finance
25 Mining Finance and Investment
26 Insights from the Toronto Stock Exchange
27 PearTree Securities Interview
28 Triple Flag Interview
29 Red Cloud Securities Interview
30 IBK Capital Interview
31 Stifel Interview
32 Roth Canada Interview
33 Industry Thoughts: Mining Finance Trends
34 Section 4: Toronto's Global Reach
35 Toronto’s Global Reach
36 Toronto's Global Reach Map
37 Rupert Resources Interview
38 Eloro Resources Interview
39 Industry Thoughts: Global Operations Based in Ontario
40 Eyes on Latin America
41 Torex Gold Resources Interview
42 Minera Alamos Interview
43 Sable Resources Interview
44 Section 5: Junior Exploration
45 Junior Exploration
46 Great Bear Resources Interview
47 Exploring Across Canada
48 O3 Mining Interview
49 Purepoint Uranium Group Interview
50 ALX Resources Interview
51 Industry Thoughts: Gold Juniors Have Their Say
52 Gold Juniors Replacing Depleting Resources
53 Moneta Gold Interview
54 Goldshore Resources Interview
55 Galleon Gold Interview
56 Element79 Gold Interview
57 Signature Resources Interview
58 Section 6: ESG and the Battery Materials Supply Chain
59 Transition Metals on the Rise
60 Conquest Resources Interview
61 Generation Mining Interview
62 Inventus Mining Interview
63 Noble Mineral Exploration Interview
64 The Move to Combat Climate Change Gathers Pace
65 Insights from Onyen Corporation
66 Thorn Associates Interview
67 Leading the Charge
68 Electra Battery Materials Interview
69 Frontier Lithium Interview
70 Industry Thoughts: Entering The Transition Economy
71 The Battery Material Supply Chain
72 ION Energy Interview
73 Clean Air Metals Interview
74 Section 7: Services, Technology and Innovation
75 Engineering, Construction & Consultancies
76 Ausenco Interview
77 Cementation Americas Interview
78 PCL Construction Interview
79 Redpath Mining Interview
80 Technological Advancements & Innovation
81 Industry Thoughts: Canadian Associations
82 EY Interview
83 Maestro Digital Mine Interview
84 Centric Mining Systems Interview
85 Industry Thoughts: OEMs Have Their Say
86 Drone Delivery Canada Interview
87 Sofvie Interview
88 Novamera Interview
89 Industry Thoughts: Paving the Way for ESG Reporting
90 Section 8: Company Profiles
91 Wesdome Company Profile
92 ION Energy Company Profile
93 PearTree Securities Company Profile
94 Ormston List Frawley Company Profile
95 Maestro Digital Mine Company Profile
96 Sofvie Company Profile
97 Credits

Stefan Spears, Chairman and CEO,

INVENTUS MINING

"Our focus remains on precious metals, but in some of our drilling, cobalt, copper and nickel contribute a significant portion of the metal value."

Could you give us an overview of Pardo and Sudbury 2.0?

Pardo is the largest and most advanced paleoplacer gold project in North America. The question becomes where to process it, since we do not have a mill. We are fairly close to Sudbury, but those mines are typically producing nickel-copper. We are currently conducting test trial mining at Pardo, which will be processed in Timmins, and we hope to develop a maiden resource estimate in 2022 and continue mining and producing cash flow at a small scale, if possible.

Our second project is called Sudbury 2.0 because our work has really identified hitherto unknown exploration opportunities right to the East of the Sudbury mining district. Our projects are situated above one of the largest positive magnetic and conductive geophysical anomalies in the world, the Temagami Magnetic Anomaly. We have multiple polymetallic showings ranging from super high-grade palladium-platinum-gold-copper with samples grades up to 31% copper equivalent, and another area with a 44 m mineralized intersection of gold-cobalt-nickel in drilling.

Will Inventus Mining shift its focus towards base and battery metals?

Our focus remains on precious metals, but in some of our drilling, cobalt, copper and nickel contribute a significant portion of the metal value. We also recently acquired a property specifically because of a cobalt occurrence, where one of our samples returned 1.2% cobalt, which is equivalent to 12 g/t of gold or more. We are going to conduct more cobalt-focused exploration given the strong demand and because few North American companies are exploring for it. This property is early stage, but what we see on surface is analogous to the Cobalt Hill property that we drilled in 2021, and we are going to drill again in January 2022.

A number of companies are advancing quite low-grade green metal opportunities, which require a large operation and high capex. Inventus is targeting high-grade deposits. Cobalt is usually a byproduct, but in our case, gold and cobalt seem to be the dominant metals in the system. We are also exploring for palladium and platinum, which are both very good catalysts. We see their demand growing in the decades to come because of their important applications in the hydrogen economy.

How are you currently funding your operations and when will you need another raise?

When I became CEO in 2016, Rob McEwen and Eric Sprott were already large holders of Inventus. Since that time, Rob has increased his stake to over 20%, and Eric is still there with 10%. We have also added a third mining magnate with 7% and a handful of high-net-worth individuals as shareholders. Management and advisors hold about 5% and have been consistently buying in the market. The unique nature of our projects with large risk/reward, coupled with our efficiency at using their capital attracts this type of investor. We have not done a financing since the beginning of 2020 and expect to do another raise at the appropriate time in H2 2022.

What is your outlook for the mining sector?

My thesis has always been that it will be challenging for mining and metals whenever the broad market is performing extremely well. The generalist capital ignores the resource space when you have the NASDAQ and S&P at all-time highs, allowing for very little risk with a diversified approach. If central banks continue to print money and pump it into the system, we could see even higher highs, however, history shows that it will invert eventually, at which point investors will pile into undervalued assets, and that is when the mining industry really shines.

Next:

Interview: Noble Mineral Exploration