Read on for the second and final part of my extensive interview with Mr. Perry Little, CEO of Green River Gold Corp.
Peter Bell: To have the CCR pubco at CAD$1.5M valuation?
Perry Little: I can't believe we're this cheap.
Perry Little: It's an odd story. I don't think anybody's tried being a landlord to the placer industry before. It probably looks odd that we're doing retail, but we really get to see what's going on and meet most of the placer miners.
Perry Little: We are the only store dedicated to mining supplies and equipment between Prince George or Williams Lake. That's a pretty good stretch.
Perry Little: All those guys mining out toward Barkerville -- we're kind of the first stop. We don't have a huge markup on things. We didn't get into it to gouge anybody. We look to make a bit of money out of it and cover off admin costs -- that's really what we we're looking for. It's been surprisingly good.
Perry Little: Again, the store tells us how busy it's going to be out there. And that tells us something about the value of those mining claims. It's going to be hard to come by good mining claims.
Peter Bell: The Cariboo is crowded! It really is. I've looked around in the BC government website on placer claims and mineral claims. It's full. Call them nuisance stakers or whatever you want -- there's a whole bunch of people who have an interest. People who are watching and waiting. If it's a rising tide lifting all boats, then you want to have some exposure to that somehow. Again, it's a very unique position you have here.
Perry Little: We had a couple of claims that we had our eyes on. We knew when they were going to expire and they were right contiguous to our group. We thought this is great -- let's grab these things. But it was the fastest fingers competition and they got plucked by some guy who I think was probably closer to the main office in Victoria. I think we had a disadvantage, like going against a high frequency trader. We missed out on them. We jumped on it as soon as soon as we were able to. The good claims go pretty quickly, if they come up at all. Then you're in a situation where you have to try to buy them. It's a weird market for buying claims.
Perry Little: I've had guys try to sell me worse than moose pasture for $600,000.
Peter Bell: Some of the prices...
Perry Little: You need somebody who really knows the ground out there. I know the area well enough now and I'm by no means an expert on that, but I employ people who are and trust them.
Perry Little: We had one that was pitched at me and when the pitch came, I said "isn't that up where the Caribou habitat is?" He said, "oh no, it's nowhere near the Caribou habitat." I called our agent at the time and I got her to check. The area he was going to sell to us it was only accessible by helicopter -- no roads into it. And it was Caribou habitat, most of it. The portion that wasn't was pretty much right up the side of a mountain.
Peter Bell: It's good to have your career as a broker in the junior mining business, right? Having seen all these good, bad, and ugly juniors along the years. Gives a sense for what's possible.
Perry Little: I thought I had seen every dog and pony show. I was not aware of how some of these guys operate till I got out to the Cariboo.
Peter Bell: Private markets are a whole other world, right? It's a lot.
Perry Little: There are some characters out there. It's a very colorful place.
Peter Bell: Thanks to IBK Capital Corp for a report on Green River that has mention of a million-dollar exploration program. It talks about a backpack drilling program as a work program leading up to diamond drilling for the lode gold, hard rock exploration programs. Just to point out the backpack drilling idea -- glad to see that is on your radar. An example of doing things for lower costs as best practices. Start simply and do some of this surface testing work -- if you're chasing something that outcrops.
Perry Little: There's been a lot of work done on that property. We spent quite a bit of time summarizing all of the work that had been done on the property. Kyle was buried in paper going through it. There are some interesting things on that property for sure and not just gold. I won't get into all of it, but there's a few other things on there that are interesting. We're primarily after gold and we've already got a pretty good idea where we probably focus.
Perry Little: We're going to be doing some testing. We're not just going in there willy-nilly and start poking holes in it. We will take our time.
Perry Little: The million-dollar program -- this is a tough market to raise money. We may end up scaling that back and doing a little less this year, which in some ways might not be a bad thing. It would avoid some dilution that I don't think we really have to do. I think we might be better off to scale it back from our original plan. Take time to analyze the results and go at it hard next year. We'll see.
Perry Little: Right now, the placer stuff is really keeping us quite busy. But I'm excited to get at the Fontaine and we'll see whether we have to scale the program back a little bit. We have a contingency plan if that happens to figure out what we could cut.
Peter Bell: And there's the potential to produce some high-grade gold in headline news from that work program, right? With placer-mining-as-a-landlord, you're never going to have those surprising headlines of windfall cash payments or high-grade gold exploration results from the placer side of the business.
Perry Little: It really keeps us in the game and keeps us close to everything. Our exploration people are all local. We are looking at a wonderful geologist that we're trying to drag on to our board. He was the first guy I thought of when I originally set up the company. I think he's finally cleared his plate enough that he's thinking of coming on with us. That will be absolutely huge and would probably be our only geological person that isn't local. It's really nice to have a head office that's only 60 kilometres from your major properties. That's a much easier commute than the one I made from the West End to downtown Edmonton every day for 25 years.
Peter Bell: And the financing -- it will be the fourth financing since going public.
Perry Little: It was an interesting process how we ended up going public. There was a shell company where we knew the guys behind it. It was one of many things that they do and that company had been repurposed twice already. It had gone through two different names and had been around since 2006. It was sitting on about 1.3 million dollars worth of tax losses and Canadian exploration expenses. What we managed to do was get the debt settled in exchange for a few shares and put the thing back on the road. We renamed it. Current management took over in May of 2017 when we had it all restructured and ready to go. Then, it was September of 17 when we had an annual meeting and officially changed the name of the company to Green River Gold Corp. We've been at this for a little bit.
Peter Bell: Wow.
Perry Little: The public company idea really came from getting out there doing the placer mining and being extremely frustrated with the lack of services. I thought, there's an angle for a public company. I wasn't sure even when we got it going exactly how we were going to work it, but in the back of my mind I was thinking we've got to find a way to make it possible for people to do placer mining. They don't have enough capital and we didn't want to be a lender to placer miners directly. I thought, why don't we pick up the properties and do the bonding? That chops down some of the cost, at least. And if they need a trommel for that matter, there's a private company that that we have there that could sell them a Green River gold trommel. We have a leasing company that will lease it out to them over a five-year term.
Perry Little: There are some of your big costs that are turned into nice monthly payments rather than having to come up with all that cash upfront.
Perry Little: It makes it easier for people to get into the business. Again, we know what that learning curve is like because we went up it. It's steep.
Peter Bell: And the 25 million shares out for CCR, I wonder.
Perry Little: It's actually about 28 million now with that first round of the financing closed.
Peter Bell: Good. I wonder about that shareholder base and this concept -- this direction for the plan. Is the shareholder base on board yeah?
Perry Little: Most definitely. We don't trade a lot and that is because the cost base most people have on their shares is such that we don't find many guys want to sell at the six-cent range where it's been sitting. There's very little activity. I’m sure some of our guys would probably sell if it goes above that as we get more trading volume and higher prices. Right now there is very little liquidity and that's simply because we've got a very loyal shareholder base. I speak to most of these people on a regular basis. Nobody owns more than 10% of the company, but a lot of the shareholders are people that I've known for a long time -- friends and a little bit of family. I could probably tell you where 80 or 90 percent of the stock is and they're not in any hurry to sell at this price range. They are on board with what we're doing.
Peter Bell: And just to say, "rights offering". I know they're not as common in Canada for juniors. Apparently, compliance costs are prohibitive in some cases? But just to mention that and the existing shareholder exemption. If you have some contingents there of people who are not accredited but you like what you're doing and want to have some ability to put money into the Treasury -- not just buying shares in the market. Really putting the money to work in the business.
Peter Bell: Do a financing where the unit has a warrant that is payable in gold dore from the "gold buying business"?
Perry Little: We think we're going to be able to raise the money here. We've actually been sitting at that six-cent range for about a month and a half. We were up to seven or eight cents I think for a little bit on very light volume and I think we only traded down below six on one or two trades. It seems to like that level and it doesn't want to drop below it. As we get a little more excitement out there, I would be happy to see the bids increasing. But in a way it's a good sign that nobody wants to sell at this price now. Like I said, it's a pretty loyal bunch.
Peter Bell: The street looks at you like, "What do we do with this?" And for a shell company valuation sub $2 million -- what do the brokers want? What can the street do for you? It may not seem like there's much as you're not raising a lot of money. No fees from financings. And it's non-brokered. Classic!
Perry Little: Exactly. In my last while in the brokerage business, I was with one of the independent firms. It wasn't a bank firm. You would think that those would be the guys that are still doing the junior mining finance, but the investment industry has moved away from it to a great extent. It's tough for any mining company I think to raise money at this point. Especially the juniors. We're stuck with this for a little bit longer and that's why I want to get us as quickly as possible to where we have a sustainable cash flow.
Perry Little: So we're not coming to back to market all the time. We do have the offering for 6 cent shares with a 10-cent, two-year half warrant. I'm hopeful that those warrants will all get exercised and get some extra cash coming in so I'm not back out there banging on doors again any sooner than I need to be.
Perry Little: What we'd like to do is find a way to do generate enough cash flow that we're really self-sustaining.
Perry Little: We're working two roads at the same time. We're a lottery ticket where you hopefully win, at least, the $10 ticket.
Perry Little: That's a little different. It's not quite an all-or-none shot. We think there's other opportunities in other areas that could be profitable. We'd like to be a one-stop gold shop where people really don't need to go anywhere else.
Peter Bell: Big dreams! This is important, right? And another thing it's important is raising money in one place and spending it in another place -- raising money in a high-cost environment spending in a low-cost environment. You can get more bang for your buck.
Peter Bell: And that's the case in Quesnel. Talk about the rents and how far money goes on commercial real estate there. Running the operation there compared to Edmonton or somewhere else -- it's a big difference.
Perry Little: Our office and retail space are right on the main drag. Right on the ground floor, right on the highway. It's $1,100 bucks a month, including utilities.
Peter Bell: Can you imagine?
Perry Little: It doesn't take us a whole lot of sales out of that store to cover all of our office expenses for the year.
Peter Bell: And the same concept about spending money in a cheaper place and raising it in an expensive place -- that concept applies to the financing, as well. Talk about how hard it is for the placer miners to raise money as a private entity with no real basis for what to expect in the future. How hard the challenges that come along with their financing?
Peter Bell: Even taking little things like the permitting and organizational stuff off their back in the landlord position -- that's a twist on the same idea.
Peter Bell: Raising money in public markets is hard, but it's easier than raising money privately.
Perry Little: No business wants to lend money to a placer miner, you know they've been burned so many times. They're extremely careful as soon as somebody says they're a miner.
Perry Little: We've got ours pretty much secured. We're not going to have to worry too much. The contract for them to sign is something that protects the company's interests. We want to see them succeed. We want people to succeed and we've got excellent people that have got lots of experience. We can give people a bit of guidance as well. Although most miners, I have to tell you, they all know how to do it. Everybody is an expert!
Peter Bell: That may change, right? That may change with rising gold price and falling costs. Maybe a new wave of people comes in? You may find they bring in some new ideas if they're open to new arrangements. There may be a whole bunch more business for this model that you're advancing there in the next five years versus prior five.
Perry Little: I think there's got to be a huge amount more business. I do see a renewed interest in placer mining. I think it's something that will present greater opportunities to us, going forward. We've got multiple ideas. We come up with different stuff almost every week, but we're trying to remain focused on the execution of what we're doing now.
Peter Bell: That's the key, right? There's a classic line from a pundit out there named Ian Cassel who looks at microcap stocks. He talks about how if you really want returns, you should go and find an area that's really inefficient and just focus on being an expert in that right.
Peter Bell: Junior mining stocks are like that. They're a pretty illiquid, inefficient market. A lot of weird things going on. Placer mining is even more like that!
Peter Bell: I think the lack of competition that you have at present is interesting. Some people may say "if it was such a good idea why isn't somebody else doing it?" Hold on here, this is I risk investing.
Peter Bell: And we're here for discovery. Exploration.
Peter Bell: Whether that's discovering a new business line and a whole new model that works or discovering an ore body. Bring it on!
Perry Little: I wouldn't be surprised if somebody else comes in and tries to do it. Competition will only make us sharper. There's an awful lot of ground out there.
Perry Little: We've got 20 square kilometers of placer claims at this point and we'll be able to permit quite a few. People may want to come in and if somebody wants to make us an offer on claims. We're open to selling anything at a profit.
Perry Little: I had a personal experience with a claim that that we picked up for $25,000. We cleared the trees off of it, did some mining on it, and it wasn't really what we wanted. It wasn't as big as we wanted. We ended up selling that for a very substantial profit. If the demand increases for these claims to where I think it will go, if we can put the lipstick and eye shadow on them -- the important lipstick and eye shadow that is permitting and bonding.
I don't want to call it house flipping but a lot of people don't want to buy a fixer upper.
Peter Bell: Like the "prospect generator" business, too. They don't want one shot; they want to be the house. They want to bet with the house. We think there's multiple ways to add value to these claims as we go along.
Peter Bell: And I saw that you bought some placer claims for shares recently. Glad to see that deal happen. Is that kind of a template going forward, buying equipment for cash and placer claims for shares?
Perry Little: Right now, with cash being a difficult thing to raise we like the idea of picking up claims in exchange for shares. It also tells us something. The people who are selling it really believe in their claim and they know it's going to be part of this company. Once we explain the concept, a lot of them are willing to take the shares for a good part of it. It saves us having to go out there and issue more shares to come up with cash. Some of them just like cash. When you're out there looking for claims - we did quite a bit of that as a private company before we started looking for claims as a public company. We'd already been at this for a while and I was always a little leery of the guys who didn't want to take back a royalty or stay involved as a joint venture partner.
Perry Little: It's a tell they just want the cash.
Perry Little: There's always a reason why they had to sell this great claim. ” My wife needs an operation.”
Peter Bell: “ Too much ground! I've got too much ground, Perry. I can't handle it -- I tell you.”
Perry Little: Exactly. “I just want to see this mined before I die. “
Perry Little: Or my favourite,” I had a guy mining it for me last year and I heard stories of all the gold he got out of it but I never saw a penny of it.”
Perry Little: With the same stories all the time, you get a little tired of them but it is kind of comical when you could finish the sentences for the guy who's trying to sell you the property. I like people that are willing to maintain a stake in it. That is part of what we loved about the deal we did at Fontaine. The fellow who sold it to us will help us with drilling. He was an ex-driller for Barkerville and he knows that area very well. He wanted to stay involved, especially, on the hard rock part of it. He was thrilled to take shares and some cash and stay involved with the company. To me, that is a good sign.
Perry Little: We're not worried. Like I said, we've got enough loyal shareholders that it never seems to get beat down below about five and a half cents. I think it traded at five here recently but it never stays there. It always comes back up into that six-cent range. At six or seven cents, we've got a market cap less than two million dollars. We've got well over three hundred thousand, $350,000 of equipment and inventory. We've got the little retail business, which basically offsets all of our admin costs. As a matter of fact, we split our admin person cost with the private company. Her costs are split 50-50.
Perry Little: We basically will be able to cover off the Green River portion of her salary probably just from the retail profits.
Perry Little: And Kyle is our "Mister Everything" as mine manager, store manager, and more. He's technically an employee of our private company and we bill him to Green River Gold at his cost plus 15%, just to cover the EI, CPP and WorkSafeBC on it. We only charge Green River Gold the hours he actually spends on Green River business.
Perry Little: Kyle is an excellent full-time guy with all the skills you could ever want. He's an honest guy, too. He ran for City Council the last time around. He's in his 30s. He's a pretty sharp young guy and we've got him a pretty much on call for Green River Gold.
Peter Bell: The overhead and the corporate G&A burn for Green River -- with you in Edmonton, you're not paying Bay Street rents.
Perry Little: Certainly not. I work mostly from my home office here. Our CFO maintains an office in Edmonton where we can meet people when needed. When I go into Quesnel, there's a very cheap little tiny apartment that I use as my spot when I go out there. That's actually the private companiythat covers that off, so Green River doesn't even pay for that!
Perry Little: Our overhead is low. As a matter of fact, we're going to probably start taking a salary here at some point. The CFO and I had been knocking ourselves out on this thing for years and we haven't taken salaries. Other than summer of 2017, when we had gone through about a month of no sleep. He said, I think I should get paid for this. We paid him $4,000 and me $6,000. That was in the summer of 2017. That's all we've been paid so far. We've been basically doing this without management salary.
Peter Bell: Accruing payables?
Perry Little: No, we haven't even done that. We haven't even get ourselves a stock options yet, although that will probably change soon. We're working for the shareholders to create value. I figured once we get the business model established, which I believe it is now, that's when I will start getting a paycheck out of here. The idea was to get the business founded first, rather than bleeding cash out of it every month. It wasn't really more than a concept. Now, the concept is starting to come to fruition and we will probably start getting paid. I think it says something about our commitment to this thing. The success of the company came first before our wages.
Peter Bell: And your years of experience investing in juniors -- watching the money get frittered away and wondering how people can make those kinds of decisions as fiduciaries or executives? Its boggles the mind.
Perry Little: I work at this thing full tilt every day. I'm absolutely loving it. It's just such an adventure compared to what I was doing for 25 years.
Perry Little: I loved being a stockbroker for most of that time, but toward the end the industry basically took away any ability to be entrepreneurial. They didn't want you doing any juniors. It's funny how people with million-dollar portfolios would call and the only thing they wanted to talk about was the $25,000 they had in a junior stock. They didn't want to talk about the other stuff. The junior was there for entertainment.
Perry Little: I always loved a company that had existing production and blue-sky potential in the background. If you're familiar with the company that was Claude Resources in Saskatchewan. We traded that thing for about 25 years. It was a gold mine in northern Saskatchewan. It would fall onto hard times after they have a couple of bad quarters and rumors would start flying that they weren't going to make it and everything else. Then, I'd look at the balance sheet. It wasn't that bad. We would buy back in when everybody hated it. It would go from penny status to two bucks and then we would sell. I think we must have seen that five times. Finally, they ended up sold out to Silver Standard Resources which is now SSR Mining and the mine is doing very well.
Perry Little: People would ask why I liked the company so much and I said because they've got this Santoy area that looks like it could be really good. It's sitting there just beyond their financial grasp. For a long time, they couldn't get enough money together to really exploit it. That was their blue-sky potential to me. In the meantime, they had cash flow coming in. They struggled from time to time, but I love that business model.
Perry Little: It's the same thing with junior oils. I liked guys that had a steady-eddie sort of cash flow coming in and then had a couple of big targets that could be game changers for them. That's what I try to model this after.
Perry Little: We're excited as heck about the hard rock mineral property, but the idea is to have a sustainable business apart from that. I think that is something that will set us apart from most junior explorers.
Peter Bell: Amazing to think of that with your sub $2 million market cap, right? It's nice that it's not $20 million at this point. As is, the risk is skewed to the upside.
Perry Little: We only started telling this story a short while ago. Something I learned as a broker was if you're going to go into a boardroom, you better have your story ready to tell because the brokers have seen every dog and pony show and they're going to ask you the tough questions. If you haven't got full answers for those, you're going to get nicely dismissed from the place. They'll shake your hand, but you'll never get back in there again. You've got to have the story ready to be told. I didn't waste a lot of time on promotion while we were building it. We focused on building it and now that we're actually rolling out the business model, we've got so many components already clicking. Now it's time to start telling the story.
Perry Little: One reason we're down here in this little market cap is that I've put my head down, focusing on operations and execution rather than promotion. Now, we're starting to spend a little more time doing some promotion and it's starting to click. I think people are starting to catch on and once they understand the model, I think it'll go places.
Perry Little: I wish I could give better forward guidance at this point on what we're doing. Once we get a few deals signed, then we'll have a bit of an idea what's going on. Next year, we hope to have a lot more permitted properties. And if I'm right on the gold mining thing and the enthusiasm we're seeing for it, there'll be a lot of take-up on those properties next year. To my mind, it is very scalable. We'd also like to pick up some properties down south that have a longer mining season. Southern BC. We're looking to diversify a little bit. We're not too thrilled about going to the Yukon. We'll stick with one jurisdiction to begin with and try to build to build the model there.
Peter Bell: I appreciate you taking the time to talk to me about it because you know I for all the time that I spend looking at Omineca and even Claude Resources. Shoutout Chris Temple there. It connects to the Eagle Plains group right that traces back to Omineca -- all this great history of gold in Western Canadian. The exploration group is well represented in a lot of these stories.
Peter Bell: For all the time I spend thinking about this stuff in the Cariboo and what you're doing, it's still taken me a while. I think the basics are pretty clear, but it's a different story. It's still taking me some time to learn and get it straight in my head. What is the driver? Do we know what to expect next in terms of major news? What would count as a really good surprise for CCR?
Perry Little: Right now, it's steady as she goes. I think what you'll probably see from us and what we’re working diligently at are some further acquisitions of claims. We are always looking for claims. We've got a giant funnel that we funnel them into. And we sort of work them down and get down to the ones that we really care about. We spend a lot of time digging, trying to find the good placer claims. We've got a few that we've got our eyes on now. You may see our business plan involve bringing in a lot more property and starting to do some exploration work on it. Maybe some drilling, trenching on some of our own placer properties and results from that. There's a bit of that happening.
Perry Little: We should hopefully have some announcements here in short order on arrangements with miners coming in to mine the properties and show that our model does have value. We are pretty close with a few deals now. Nothing's been signed and delivered, but we're talking to enough people and I'm quite certain we'll have some miners on our property this season.
Peter Bell: With those placer miners, you may not be able to provide much guidance but you can give prompt disclosure of cash flow?
Perry Little: We'll see exactly how we how we publicize this thing. This year is more about proof of concept than massive cash flow. We want to make sure we get it right, get the kinks out of it and we see where the issues may be as we roll out the model. I'd rather do a few properties with people that we've sort of vetted and trust. Get it right, then try to do ten of them.
Peter Bell: Thank you. Thank you once again. All of your experience watching the markets can be very valuable. And this is your first time as CEO of a public company, isn't it?
Perry Little: It is. I've been on boards of directors and leading people. I've always had employees working under me, even as a stockbroker. I've been in sales management, too. It's not a big leap for me to step into a leadership role like this.
Perry Little: It's funny -- I think I accidentally trained for this. I've always loved talking to people so the public relations part of it has always been very easy. Understanding the public markets comes from the brokerage side. And I was an auditor, so I understand how auditors think. I worked for about nine years in the public accounting field before I went into investments. I was surprised how quickly it came back to me. I prepared our first quarterly interim financial statements and management discussion and analysis. Our CFO corrected the errors that I had made, of course.
Perry Little: Speaking with auditors, lawyers, regulators -- hopefully we don't talk to regulators very often. Those things are all second nature to me. Every aspect of the management of the business is stuff that I've trained for and I've got the background in. That part of its good.
Perry Little: Geology, I'm learning as I go. As I said, we've got very good people that we have in that field. And the mining stuff -- I spent enough time mining to realize that I'm probably not somebody who wants to spend a lot of time mining.
Perry Little: I had to be on the site to understand what goes where and how big a machine will dig those holes. What kind of trommel can run what kind of capacity, to figure out some of the regulations and the rules around mining. There's nothing like actually getting your hands dirty to do that. I think most CEOs that are good are generalists. I consider myself that.
Perry Little: I think I could cover any aspect of the job and with a small company you pretty much have to.
Peter Bell: Glad to see not a geologist with a cheque book here.
Peter Bell: And the promotional side of it -- I think you understand markets. Do you see a high-profile promotional story here at some point on the other side of some demonstrated cash flow?
Perry Little: Yes, I do. As I said we've just started rolling this out now in terms of promotion. We'll get better at it as we go but you know I've spent the better part of my life convincing people to do things with their money. Talking them into buying stuff that they sometimes might not be too comfortable with, but things are cheap relative to cash flow.
Perry Little: I always liked finding cheap stuff. But you had to twist people's arms to buy it when it was cheap. And then they wanted to hold onto it when it was expensive. Getting people to invest money in a good project that I believe in is something I've been pretty good at over the years.
Perry Little: This project will only get better as we prove out the concept. Like I said, there might be some hidden surprises. And then we've always got our lottery ticket.
Perry Little: We were very deliberate on the claims that we staked. If you look at that Fontaine project, I mean the layout looks like it was it a Rorschach test or something, the claims that we staked. We could have just grabbed a big square block of stuff and we were very careful to pick up areas where there had been work done and there were promising results from earlier miners.
Peter Bell: It's a big position there around the Eureka thrust. You're blocking up against Omineca on one side and then against Osisko. Two great neighbors to be able to talk about.
Perry Little: We really do. I've known Tom MacNeill from Omineca and 49 North. Andy Davidson over at 49 north -- I've been in their office in Saskatoon and known them for years. That's pretty good.
Perry Little: I know the Eagle Plains guys who we're managing that Wingdam project previously, Chuck Downey and Tim Termuende. It's great to have folks we know as neighbors but it's not really a coincidence because it was their project that got me excited about coming to the Cariboo.
Perry Little: The fact that we ended up with property immediately adjacent to them is pretty funny. There's a lot of ground out there and to end up right up against them is great. I love where we sit there between those two companies and I believe there'll be a lot of activity through Omineca. I can't imagine Osisko is going to sit on their hands after spending that much money to buy that Barkerville property, either. I think it'll advance much more quickly with Osisko’s resources behind it.
Peter Bell: The size of the land package that they have is mind-boggling. As a junior you have a pretty large land package, too. You could get lost doing early-stage work here or there and produce a bunch of exploration results that maybe you know the market doesn't care about, but I think you understand the impact of news flow if you can get some high-grade gold results in headline news.
Perry Little: We're in a fabulous location. We love the geology where we are and if you look at that huge land package that Osisko now has -- look at the map that I sent to you that shows the area before Omineca picked up the extra acreage. That one has a bunch of red dots on it which are all the min files have been published and all the red dots on Osisko's property are not that far away from the red dots at our property where people have done earlier exploration work and filed reports. They have a huge block of property, but most of the action, most of the activity is down toward the end where we are.
Peter Bell: Thanks again for taking all the time to talk with me. If anybody's stuck with us for going on an hour-and-a-half conversation, thanks to the audience as well! Maybe just pass along your contact information.
Perry Little: Sure. Our website is a great place to start, it's greenrivergold.ca. If you're interested in placer mining there's a link to our store on there as well. It tells you who we are and what we're about. My direct numbers, you can catch me at 780-993-2193. And my email address is email@example.com If you just go to that website, all the contact details are there as well.
Peter Bell: Perry, thank you very much.
Perry Little: Thank you, Peter.
Peter Bell: Goodbye.
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