With their latest challenge of constructing a commanding land place in New South Wales, Australia, knowledgeable Maurice Jackson believes Roo Gold is on monitor to change into the New Dominant Participant within the area.
Becoming a member of us for a dialog is Carlos Espinosa, the CEO of Roo Gold Inc. (ROO:CSE). Mr. Espinosa, it is a pleasure to be talking with you at this time to have you ever introduce us to Roo Gold, which is positioning itself as the brand new dominant participant in New South Wales of Australia.
Maurice Jackson: Earlier than we deep dive into firm specifics, Mr. Espinosa, please introduce us to Roo Gold and the thrilling alternative the corporate presents to shareholders.
Carlos Espinosa: Roo Gold is a junior exploration Canadian firm. Now we have a really engaging portfolio of belongings in New South Wales in Australia. Our portfolio was constructed by way of acquisitions, and we now have 14 high-grade (10) potential gold and (4) silver concessions. Our most up-to-date concession is positioned between two of our present properties. We even have 4 high-value silver concessions. Roo Gold is principally including worth to the realm and constructing a district in New South Wales.
Maurice Jackson: Let’s discover out extra. Mr. Espinosa, take us to Australia and share with us why Roo Gold is strategically centered on New South Wales. Please acquaint us with the area, potential mineral endowment, and mining jurisdiction.
Carlos Espinosa: Australia as a rustic as a result of at this time it is probably the most pleasant mining jurisdictions worldwide. They provide glorious infrastructure. They’ve a world political, financial, and regulatory atmosphere that it is inviting the mining trade to work there. From the COVID perspective, you see minimal restrictions, and we see a low danger for operational interruptions.
Working in Australia is an asset below the present financial and geopolitical atmosphere. Speaking particularly about New South Wales, we see an enormous alternative as a result of it is an underexplored space within the nation. New South Wales is the second gold producer state in Australia however remains to be under-explored. Simply to present you an thought of the present gold endowment, it exceeds 100 million ounces of gold and 1 billion ounces of silver.
The province is providing an awesome alternative with restricted work traditionally. So, that is the place we see the large potential. Some small-scale manufacturing reveals grades of as much as 1,600 grams per ton of silver and over 130 grams per ton of gold. Once more, that is only a small-scale manufacturing, however we see the potential sooner or later. And the portfolio we’re constructing is in the identical proximity as comparable mines which are already in operation, which we see sooner or later has some strategic benefits for us.
Maurice Jackson: Let’s go go to your property financial institution, which consists of 14 high-value gold and silver initiatives. However earlier than we do, please stroll us by way of the 4 key attributes that Roo Gold used to pick out every of your initiatives respectively.
Carlos Espinosa: The primary level, it is properties with restricted historic exploration. And why is that? It is as a result of we see the large upside on this space, and we’re buying a really aggressive value, and we will flip it into one thing very, very beneficial. The deposit varieties are managed by regional constructions and contacts that permit us to have entry to these properties. And people targets are underpinned and outlined by historic mining exercise. And we see, lastly, high-grade treasured metallic mineralization within the space. So these are the 4 factors we centered on.
Maurice Jackson: I’ve a map earlier than us highlighting your property portfolio, which consists of roughly 1,400 sq. kilometers and 137 historic gold mines. Starting together with your high-value aim initiatives, please introduce us to your initiatives and the chance earlier than us, starting with the initiatives that you just’re at present conducting exploration work on.
Carlos Espinosa: Now we have 10 properties masking a complete of over 1,200 sq. kilometers. That features 106 historic gold mines and prospects with a extremely mineralized, with comparatively unexplored work in New England Orogenic Terrane and the opposite mineralized Lachlan Orogenic Belt.
So mineralization is generally an orogenic sort related to a large-scale construction making for very engaging and huge targets. There are 12 strike kilometers of the numerous gold mineralized area, the Peel-Manning Fault system. So simply to present you one instance of one of many RooGold properties, Lorne, it is 102 sq. kilometers, and we have already got 28 historic gold mines and prospects, together with the historic Golden Star mine, as much as 500 meters of underground working with a historic Marquis of Lorne mine that studies grades as much as 15 grams of gold. In order that’s the kind of what we’re doing down there.
Maurice Jackson: Shifting on to silver, please introduce us to your high-value silver initiatives, and which of them are RooGold actively conducting exploration work on?
Carlos Espinosa: On the silver aspect, we’ve 4 properties masking a complete of 272 sq. kilometers. Once more, we’ve historic gold, silver mines, and prospects. Now we have, on this case, 31 historic silver mines which are comparatively unexplored within the New England Orogenic Terrane. All of the properties are largely unexplored for the reason that early ’90s. Little to no drilling and virtually any exploration, however we see a number of types of mineralization which are current, together with intrusion-related vein stockwork targets and low sulfidation epithermal varieties.
Maurice Jackson: Nicely, Mr. Espinosa, I am nonetheless smiling in regards to the 15 grams of gold there.
Carlos Espinosa: So do I.
Maurice Jackson: Multi-layered query for you, sir; what’s the subsequent unanswered query for Roo Gold? When can we anticipate a response? What do you identify success, and what can we anticipate so far as information movement?
Carlos Espinosa: That is query, but it surely’s a number of work forward of us. Roo Gold remains to be a comparatively new firm. We constructed this portfolio by way of acquisitions, and we’re at present within the strategy of signing land entry on each property. At the moment have a few land entry agreements in place with the Gold Belt and Goldstar properties. And we’re persevering with to work with the remainder of these belongings.
So we have to implement extra land entry for our remaining properties. We’re nonetheless performing some chip samples, and we’ve already despatched some samples to the lab. Following will likely be some geophysics and, finally, planning for a drilling program on the excessive goal areas we discover. But it surely’s nonetheless a number of work forward of us. So we are going to proceed flowing the data to the market at this time. We have been joyful to share the details about the acquisition.
Most likely in a few weeks or three weeks, we could have the primary lab outcomes for a few of these chip samples. And within the meantime, we are going to attempt to proceed signing agreements for the land entry and getting extra samples to permit us to raised put together our drilling program within the space.
Maurice Jackson: Leaving the challenge web site, let’s talk about some necessary matters germane to your initiatives. Do you personal your initiatives 100%?
Carlos Espinosa: Completely. We’re very joyful about that. We have no royalties or every other commitments. So we’re very, very happy with that.
Maurice Jackson: And only for the file, are you absolutely permitted?
Carlos Espinosa: I might say sure, with the exception that we’re nonetheless within the strategy of getting the land entry on a few of the properties. So we’re engaged on that half.
Maurice Jackson: And talking of that entry, how is infrastructure?
Carlos Espinosa: The infrastructure is de facto good. The problem we’ve had in the previous few months was the climate. We had a flood within the space that didn’t permit us to have entry to the property the place it is one thing that occurs as soon as within the final 60 or 70 years in Australia. That’s mom earth for you typically. However typically talking, we’ve excellent infrastructure. We have no points, and we see a simple technique to work there.
Maurice Jackson: Is the final word aim to construct a mine or arbitrage?
Carlos Espinosa: Nonetheless too early to have a agency place on this. However when you ask me, I’d like to construct a mine. Nevertheless, after we see the instances, we have to sit down and analyze what’s finest for the corporate and our shareholders. However the preliminary thought is to work having a mindset of constructing a mine.
Maurice Jackson: We have mentioned the great. Let’s deal with the unhealthy. What can go mistaken, and what are your motion plans to mitigate these doable wrongs?
Carlos Espinosa: The mining trade is a dangerous enterprise. There are a number of issues that would go mistaken. In our case, we will discover nothing on our properties that we deem as an awesome concern. And the best way we’re going to attempt to reduce danger would be the acquisition of this big land bundle. We’re engaged on attempting to determine which elements of all these properties have the next potential for growth.
In different phrases, we in all probability have a number of properties in the identical space, however we’ve a bigger portfolio than a lot of the junior corporations in Canada. So, what we consider is we’re diversifying the danger, placing a number of properties, and finally, we have to determine both the place we need to spend extra money and time, the place it isn’t value spending that point and that cash.
Maurice Jackson: Switching gears, let’s talk about the individuals chargeable for rising shareholder worth. Mr. Espinosa, please introduce us to your board of administrators and administration crew, and what talent units do they convey to Roo Gold?
Carlos Espinosa: Completely. On the board, we at present are a small crew on the board members. It is myself, Michael Singer, and Michael Mulberry. We’re planning to develop this board. We’re in all probability going so as to add one or two extra members very quickly, however for now, it is the three of us.
Michael Singer is an government with in depth monetary administration, capital market expertise, and company governance expertise, primarily within the pharmaceutical and medical hashish industries. However he is bringing a number of expertise in company governance, which helps us to begin constructing the suitable basis for the corporate and have a robust basis for the long run and the expansion of the corporate.
On the opposite aspect, Michael Mulberry has over 30 years of expertise working in the private and non-private mining corporations in Canada and abroad. He brings expertise, and his mental capital is an intangible asset that doesn’t replicate on the stability sheet.
By way of administration, I am the CEO, and we’ve Alexandra Bonner. Alexandra is our VP of exploration. She’s based mostly in Australia. She’s Australian with greater than 15 years of company mining and company growth. She works in treasured and base metals. So she’s bringing a number of expertise to the corporate. And it is essential to have somebody like her down there as a result of she’s main the plans for the event and executing the exploration packages.
Additionally, we’ve Mart Rampe, who’s our land supervisor and technical advisor. He is serving to us primarily with the negotiation on the land entry with the locals. And we’ve sturdy advisors to the board and the administration. Now we have a Dr. Chris Wilson, who’s a geologist with over 30 years of expertise. He had been working worldwide on a number of initiatives, from exploration to manufacturing. Now we have Dr. Quinton Hennigh, who, I imply, he would not must have an introduction with over 25 years of expertise. He leads crew help exploration in Newcrest and Newmont and so forth. So it is superb to have him with us. And we additionally Kym Revington, he is our technical advisor based mostly in Australia. He has over 20 years of expertise within the mining trade as effectively. So he is including a number of worth to the corporate.
Maurice Jackson: Nicely, it looks as if your crew has a number of industrial and exploration success. And talking of that phrase, success is a confirmed pedigree of success. I need to ask you about Carlos Espinosa. Who’s he, and what makes him certified for the duty at hand?
Carlos Espinosa: I am very excited and happy to be right here as part of the crew. I have been within the mining trade for over 12 years. I’m the previous CEO of Monarca Minerals, which is one other Canadian firm listed right here on the TSX.V. And we used to have, or we had belongings in Mexico, and it has merchandise abroad. And likewise, I used to be on the board of Monarca. I used to be on the board of Silver X Mining. I labored with an Argentine mining firm within the course of, from being non-public to going public.
So, I had fairly expertise within the trade earlier than that. I used to be engaged on the TSX and TSX Enterprise. In my final place there, I used to be the top of world mining. My function there was to recruit mining corporations to go public in Canada.
Subsequently, my time within the TSX gave me excellent publicity to Canadian capital markets and a greater understanding of the mining trade and the way the Canadian capital markets merge in a really distinctive place worldwide. That’s the reason Canada is main within the mining trade and the mining capital markets.
Mixed, I carry this expertise with me to Roo Gold. Earlier than that, I used to be extra centered on worldwide enterprise growth. I’m initially from Mexico, and I’ve been doing worldwide enterprise for greater than 25 years, in all probability. So I’ve a number of expertise additionally doing enterprise abroad, studying about completely different cultures, and coping with working in distant areas.
Maurice Jackson: Let’s get into some numbers. Mr. Espinosa, please present us with the capital construction for Roo Gold.
Carlos Espinosa: The share value has been below a really difficult market in the previous few months. We’re at present round $0.11 cents, and our excellent shares are 59 million. Now we have 100 thousand choices and 22 million warrants excellent. On a totally diluted foundation, we’ve 82 million shares, and the market cap is round 6.5 million. And at present, we’ve $1.5 million in money.
Maurice Jackson: And full disclosure, I’m a proud shareholder.
Carlos Espinosa: Oh, thanks very a lot. I am joyful to listen to that.
Maurice Jackson: All proper, sir. And the way a lot debt do you may have?
Carlos Espinosa: We do not actually have debt. Now we have simply deferred accounts payable on a standard operation however nothing to concern.
Maurice Jackson: All proper. And what’s your burn charge?
Carlos Espinosa: It’s a robust query as a result of we’ve some distinctive bills, with the procurement of kit and another miscellaneous bills, however we’re round $50,000 to $60,000 in a month.
Maurice Jackson: What proportion of possession does administration have, and who’re the most important shareholders?
Carlos Espinosa: On the administration and director, we’ve round 10% of the corporate. Most likely 7% is for institutional buyers, and the remainder is between retail and family and friends.
Maurice Jackson: Are there any redundant belongings on the books that we must always learn about?
Carlos Espinosa: No.
Maurice Jackson: Are there any adjustments to manage charges, and if sure, what’s the compensation?
Carlos Espinosa: We have no charges. So, I believe that is nice for the buyers.
Maurice Jackson: Oh, that is very complimentary, sir. Is administration charging a advisor payment for any companies?
Carlos Espinosa: No. Now we have our wage or the payment only for the function we’re employed for, however that is it. Nothing else.
Maurice Jackson: In closing, sir, what retains you up at night time that we do not learn about?
Carlos Espinosa: Nicely, I believe it is one thing that retains awake lots of people, that are the present market circumstances, macroeconomics, and the geopolitical state of affairs globally. As a result of it is exhausting to construct mid-term or long-term plans when the market circumstances are frequently altering. Every single day and each night time, I take into consideration what we will do higher or how we will keep away from any dangers. However I imply, it isn’t straightforward to reply as a result of each morning you discover one thing new on the information.
But it surely’s what it’s. No less than I really feel snug that we’re in a really protected jurisdiction, and we’ve an awesome crew. And we’ve in our fingers a pleasant land bundle that we stay up for creating worth for our shareholders.
Maurice Jackson: What would you wish to say to shareholders?
Carlos Espinosa: Nicely, initially, I wish to thank them for investing in Roo Gold. We’re joyful to have you ever with us. Now we have pores and skin within the sport, so we’re collectively on this. And actually, what I need to ask buyers is to remain related and please be affected person as a result of this a part of the work we’re doing at this time is just not thrilling, as an instance, or would not present a number of progress. But it surely’s the inspiration. principally, getting these permits for the land entry will permit us to go and transfer sooner to the next phases, and the information and the progress and the excellent news will come sooner or later.
To our shareholders, we’re working for you, we’re working with you, and simply ask that you just be just a little affected person. I need to thanks for selecting Roo Gold as a part of your portfolio.
Maurice Jackson: Final query, what did I neglect to ask?
Carlos Espinosa: I believe it is an excellent dialog, however in all probability what you forgot to ask is: What is going on to occur subsequent when we’ve our land entry? And what we’re planning to get chip samples?
We already had some, however it may be numerous chip samples for various areas that permit us to have higher details about our properties.
We’ll do some geophysics, determine these sizzling targets, after which start to begin drilling these targets; as I discussed earlier on this dialog, it is an unexplored area. In the entire land bundle that we’ve, there are solely 28 drill holes traditionally. So, it is a number of work to do forward, and that is the place we’re and going too. So, we’re planning to maneuver ahead with the drilling program within the months forward.
Maurice Jackson: Mr. Espinosa, for readers that need to be taught extra about Roo Gold, please share the contact particulars.
Carlos Espinosa: It is RooGoldinc.com.
Maurice Jackson: Mr. Espinosa, it has been a pleasure talking with you at this time. Wishing you and Roo Gold the best possible, sir.
Maurice Jackson is the founding father of Confirmed and Possible, a web site that goals to counterpoint its subscribers by way of schooling in treasured metals and junior mining corporations that can enhance the world.
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