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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

James Withall, CEO,

RUPERT RESOURCES

"We started to demonstrate the prospectivity of our land package and in particular the new 4 million oz Ikkari discovery, which has been the main driver for the valuation of the company over the last 18 months."

What drew you to joining Canadian-based Rupert Resources?

I decided to re-enter the industry and joined Rupert Resources as CEO in 2017 to build a business in a Tier 1 jurisdiction. Canada is such a well-known destination for raising funds for the resources sector and an established base to have our public listing and headquarters, regardless of where your assets are around the world.

Can you elaborate on Rupert Resources’ balance sheet and the company’s financing strategy moving forward?

Our Finnish assets got transferred into Rupert Resources in 2016, and we had a very strong core group of shareholders that funded the company through the early, high risk, conceptual stages of the business when it is hard to attract external investors. From there, we started to demonstrate the success of our exploration approach and attracted the interest of Agnico Eagle to come onboard as strategic investor in February 2020. Not long after, we started to demonstrate the prospectivity of our land package and in particular the new 4 million oz Ikkari discovery, which has been the main driver for the valuation of the company over the last 18 months. With people starting to understand the discovery, we have been able to raise C$48 million to continue exploration with 60% of our budget allocated to Ikkari and 40% of our budget allocated to our regional program and on making further discoveries of scale. We are well funded until the middle of 2023.

Can you speak to Rupert Resources’ partnership with Trillium Gold Mines at the company’s Red Lake asset?

As we focused our attention on our Ikkari discovery we were looking for partners for our Canadian assets. In August 2020, Rupert Resources entered into an arm’s length, definitive agreement to joint venture the company’s Gold Centre property in Red Lake with Trillium Gold Mines. Trillium will have an 80% participating interest in the joint venture and Rupert Resources will have a 20% carried participating Interest. In order to maintain its 80% Participating interest, Trillium will be required to spend C$2 million per annum in each of the first five years and C$500 000 in each subsequent year. After the completion of a positive feasibility study and a decision to proceed to production, expenditures representing Rupert’s 20% participating interest will be treated as a loan by Trillium to Rupert Resources.

Can you elaborate on Rupert Resources Lapland project and highlight some recent developments?

The Rupert Lapland project in the Central Lapland Greenstone Belt (CLGB) in Northern Finland includes our multi-million ounce Ikkari discovery and permitted Pahtavaara mine and mill within a total land package of 595 km2. The CLGB can be compared to the Abitibi in Canada, or greenstone belts in West Africa and Western Australia, as it has significant similarities. The CLGB has two gold mines of significance - Agnico Eagle’s Kittilä mine, the largest gold mine in Europe, and our permitted Pahtavaara mine. There is also significant base metals potential in the region with Boliden’s Kevitsa mine and Anglo American’s world class Sakatti project located in close proximity and Rupert’s systematic exploration program is designed to find deposits of scale across the commodities spectrum.

In September 2021, we announced a maiden inferred mineral resource estimate for Ikkari of 49 million tonnes at 2.5 g/t Au for 3.95 million ounces. This estimate was based on over 36,000 m of drilling to the end of June. What makes Ikkari unique is that it is a cohesive deposit comprised of broad intervals of strong and consistent gold mineralization which can be drilled off relatively quickly to an inferred category. Ikkari remains open at depth and along strike and up to a further 90,000 m of drilling will be conducted by the end of 2022. We believe the demonstrated size, grade, cohesive mineralization and growth potential, combined with non-refractory metallurgy and proximity to infrastructure, positions Ikkari as one of the most high-quality advanced exploration-stage assets of recent years. We are surrounded by hydro facilities and a large proportion of our power supply is from renewable sources. The site also has excellent 4G connectivity. We are well funded for further exploration and will deliver a PEA in mid-2022 to give the market some color on the potential the discovery holds.

Next:

Interview: Eloro Resources