John Webster CEO GOLD AND MINERALS
Could you briefly introduce us to Gold and Minerals?
A number of years ago, we secured initial Exploration Licenses and made major discoveries at the Jibal Qutman and the larger Hawiah projects. The team moved these projects from grassroots targets to Indicated and Inferred Mineral Resources. We expect to rapidly advance both projects into production over the next four years. Being a discovery-led company, we have developed a portfolio of 14 other Exploration Licenses with one of the most successful exploration teams in KSA. What factors make Jabal Qutman the likely starting point for production?
Jabal Qutman has six open pits containing mineable resources, offering a straightforward processing plan with high gold recoveries. These advantages make it an ideal candidate for fast-tracking into production.
Hawiah is a much larger project with resources in excess of 30 million tons of polymetallic ores. Three phase development is planned, starting with a six-year mine life for the oxidized ores and expanding to a 15-year life for deeper resources, with additional exploration to extend resources, both along strike and down dip. Why is the proactive attitude of Saudi authorities significant for mining development?
In KSA you will find educated, helpful, pleasant professionals who make permitting and compliance straightfor-ward, highly interactive and personable. How does your job as a CEO differ in KSA compared to other jurisdictions?
Saudi Arabia offers a unique and remarkable financing system through the SIDF (Saudi Industrial Development Fund). If a project meets international and bankable feasibility standards, SIDF can provide loans at competitive interest rates, covering up to 75% of the project value a level of support virtually unheard of elsewhere. Having spent over 40 years in the mining industry and led companies since the mid-90s, and I have had to be focused extensively on fundraising. Here, my job is primarily focused on rapid project development optimization and development of in-house skills.
Christopher Schmidt CEO ANS EXPLORATION
Could you share a bit about your ANS Exploration's history and footprint?
ANS Exploration (ANS) is a private Canadian mineral exploration company established in May 2022. The company focuses on discovering battery metals, base metals, and precious metals in the Arabian Nubian Shield.
Initially, ANS commenced operations in Sudan and Ethiopia, and in May 2024, the company expanded into Saudi Arabia to diversify its exploration portfolio and mitigate regional risks. By November 2024, ANS secured its first exploration license in Saudi Arabia and plans to initiate exploration activities in early 2025.
ANS is also exploring opportunities for dual listing on the Toronto Stock Exchange and Saudi Exchange, aiming to attract a diverse investor base and support its long-term exploration objectives. Can you tell us about the Umm Qusur project and what makes it interesting from a mineral perspective?
The Umm Qusur project is a 20-km2 license with gold potential. Historically, high-grade rock samples and the presence of an ancient gold mine on-site highlight its prospectivity. While this project is more focused compared to our larger-scale exploration programs, it aligns with our strategy to rapidly identify and develop drill-ready targets. We aim to initiate exploration in Q1 2025, prioritizing drill testing.
What led to your decision to expand into Saudi Arabia?
Saudi Arabia offered a strategic opportunity to mitigate risk and diversify geographically. The Kingdom provides a stable political environment, robust legal frameworks, and active support for the mining sector through initiatives like Vision 2030. Moreover, the availability of modern geological data and clear government strategies for mining development made it an attractive choice.
In early 2024, we conducted fieldwork to assess prospective areas, leading to our first exploration license. We are now actively applying for additional licenses, including in the recent bidding rounds.