Geologist Rob McLeod dropped by CEO.CA today for an Ask Me Anything ("AMA") session and good times were had by all.
The Blackwolf Copper and Gold CEO defended the value of his company which has seen its share price fall from $1.38 to $0.49 over the past year. BWCG is now valued in the market at $16.24 million (Canadian).
The company shared news this morning, which McLeod summarized in the AMA as follows:
Today’s news has a bunch of things. We have received some permits and expecting more asap. We have identified the best undrilled prospect I have ever seen in the golden triangle at Cantoo! We are looking at doing surface drilling to expand and make new discoveries at niblack because our new geologic interpretation suggests that the deposit is wide open. Also we are upgrading our site infrastructure such as camp and dock for longer term success. Catalysts coming up including: resource update for Niblack incorporating multiple rounds of drilling and much higher metal prices.
McLeod on the value of Blackwolf's flagship property:
Niblack as a stand-alone is worth a lot. 5.6 million tonnes of indicated and 3.4 million tonnes of bulk mineable, polymetallic resources with good metallurgy and ground conditions. These high grade deposits have a much lower environmental footprint, and the existing development work has tremendous value. If we were trading at reasonable percentage of our interval NPV, we would be trading an order of magnitude above our current value.
McLeod is extremely excited about Blackwolf's other property in SW Alaska, called Cantoo, which it acquired last year through staking. He says Cantoo is best Golden Triangle exploration target McLeod has seen in his 43 years spent prospecting there.
Cantoo is located due east of Ascot's Premier mine that is currently in development, which I know very well geologically. You can hear and see the development work at premier from the property. About a kilometre.
I would write my last cheque to drill the Cantoo Property. Investors own junior stocks for results and discoveries; we must add value through the drill bit to be successful long term.
If the market is undervaluing Blackwolf, why not sell it?
on m&a, numerous inbounds since we took over Niblack; there are few quality advanced projects like it. Our value is underpinned by a substantial high grade deposit with a path to development, excellent exploration upside, and greenfield discovery potential. We are a unique company at only $15m market cap.
McLeod also talked about a few companies he's watching beginning here. These include ESK, KLD and others.
On what drives him:
"Exploration is a treasure hunt; ever since I was a little boy, as the son of an underground miner, I've had a wonderment for the natural world and what would make men toil in thick bush and underground to find gold and silver. It's the thrill of discovery that is my why..."
Thank you, Rob for taking our questions. The entire thread starts here: https://ceo.ca/bwcg?a8958bbc66eb
Disclosure I Tommy Humphreys, am a Blackwolf Copper and Gold shareholder. It is a pure-risk exploration company which has many challenges. This is not investment advice.
