Ernest Mast CEO DORÉ COPPER
Can you introduce Doré Copper and the firm’s portfolio?
We have a project at a historic mining camp in Chibougamau, Québec. We have been revitalizing the camp with significant exploration success. In 2022, we completed a PEA. We have made progress on a feasibility study, started the permitting process, updated metallurgical test work, and explored additional deposits in the region. Are you planning to expand your drilling and exploration efforts this year?
We will test several targets. One of them is the Cedar Bay Southwest Zone. Another target is around Corner Bay, where we will explore the northern extension. Additionally, we have the Joe Mann area. Moreover, we have the Gwillim gold mine, a joint venture with Alamos Gold. How crucial is it for the North American supply chain to have another copper producer?
Currently, Québec has a copper smelter, but very little of its feed originates in Québec. Then there is a copper refinery in Québec that refines the smelter's product into pure copper. Adjacent to the refinery are wire and tube-making facilities, making our project a seamless fit into the copper supply chain in Québec and North America at large. Could you provide insights on the current state of the copper supply chain in North America?
Our project benefits from a clear process due to agreements with the government and minimal overlap with indigenous groups. The funding environment in Québec benefits from entities like Investment Québec and Fonds de solidarité FTQ. And Québec's strategic commitment to sustainable mining practices underpins the global transition to electrification. How do you foresee the M&A landscape evolving?
The current high-price environment for copper and gold will support JVs and consolidation. With Québec's vast landmass, and with companies often sharing geological deposits, the environment is ripe for M&A activity.
Jonathon Deluce CEO ABITIBI METALS
Can you introduce Abitibi Metals and the firm’s portfolio?
Abitibi Metals originated from a family office based in Toronto. we went public in 2020, with a focus on junior mining ventures. In recent years we searched for acquisitions, leading to an 80% option on the B26 deposit, in partnership with SOQUEM Inc. What are the catalysts for unlocking value in the B26 deposit?
In the first quarter, we undertook an extensive drilling campaign, covering 13,500 m at B26 and an additional 2,400 m at Beschefer, which lied just 7 km away. We are allocated for 50,000 m of drilling at B26 in 2024, with another 20,000 m earmarked for 2025.
Our approach extends beyond the immediate vicinity of B26 to the historical Selbaie mine. Our recent Q1 drill program has yielded promising results, setting the stage for further expansion and validation of our thesis. What's your outlook on the supply-demand fundamentals for gold and copper?
We are bullish on gold due to the prevailing mismanagement of monetary policy.
On copper, the supply-demand imbalances projected by the industry until 2030 underscore the importance of sourcing copper from politically stable regions. So, in Québec deposits in the region are poised to command a premium. How do you assess the exploration scene and access to capital for Québec explorers?
The exploration scene has a unique ecosystem. Despite the overall tough financing market, we have managed to raise significant capital. This success is down to deposit quality and the investor confidence in Québec. What makes Abitibi Metals a compelling investment opportunity moving forward?
We are in the early stages of showcasing what we believe is a world-class asset acquired from SOQUEM Inc. Furthermore, we have fully funded the company. Investors can expect significant progress as we continue to showcase the growth potential of B26.