Tom Wallace: Ladies and gents, welcome to juniorinsider.com. This interview is coming to you from the sidelines of Capitalism & Morality, a philosophy seminar in Vancouver run by Jayant Bhandari. My guest today is Bryce Bradley. Bryce is the CEO and co-founder with Brien Lundin of Thunderstruck Resources. She has a strong background in capital markets and investment banking. Bryce founded and held key executive roles for several merchant banks focused on capital raising and advisory services for mining exploration companies. She has a Bachelor of Science with Honours from the University of Toronto, and today she's going to us about Thunderstruck Resources and how the company is getting ready to begin exploration on its vast land holdings that include zinc, gold, copper, and silver assets. Without further ado, here is the interview.
Bryce, we're on the sidelines of Jayant Bhandari's Capitalism & Morality conference.
Bryce Bradley: Yup. I love this conference. I've been coming here since it started, I think, almost eight years ago. This is your first time?
Tom Wallace: This is my first time here.
Bryce Bradley: Yeah, it's very good.
Tom Wallace: And it's excellent quality speakers. Doug Casey never disappoints.
Bryce Bradley: No, he never does, and I have many, many loyal shareholders here, including Doug Casey, and Jayant Bhandari himself. Extremely stimulating lectures, and I think everyone should attend this seminar, I would say.
Tom Wallace: Yeah, definitely. I wanted to talk to you about your company, Thunderstruck Resources. Now, you've got assets that are far removed from Canadian and North American investors all the way down in Fiji, and I'm sure that most people-
Bryce Bradley: Can't get any further away from than Fiji.
Tom Wallace: Yeah, yeah. Just off the coast of Australia. But how did you end up acquiring assets all the way down there?
Bryce Bradley: Right. Well, I started this company with Brien Lundin, who runs the New Orleans Investment Conference ... Where I met you, actually, I think a couple years ago?
Tom Wallace: Yup. 2015.
Bryce Bradley: Yeah, yeah. And we started this little shell company. We spent a couple years looking at assets, and we weren't commodity-specific, and we weren't country-specific, and we looked through approximately a hundred, and finally someone gave us these assets from Fiji. They were high grade zinc and copper, and there was a copper porphyry and high grade gold assets, so there's four assets in total, and we were somewhat perplexed by the location of it; however, we handed it off to ... We're not technical, so we handed it off to several analysts, and every one of them came back to us and said, "You have to revisit this."
And so we dug a little further and found out that it's a very mining-friendly country. Robert Friedland used to own the gold mine that's in the north. It's still in production north of the island. And there's another gold development play that's also on the island very, very close to ours, so we had another look at it. We spent the next three years tying them up, so as of now we own them, we've paid for them, and we have all permitting in place, all the compensation agreements in order with all of the chiefs in the villages, and this will officially be our first exploration season.
Tom Wallace: Yeah, yeah. You talked about the two deposits that have being found. One of them's a mine, one of them's in development. Yeah, your country manager, Bill Brook, he found Tuvatu.
Bryce Bradley: That's right.
Tom Wallace: Now, how did you manage to get him on your team?
Bryce Bradley: Mr. Brook is, yeah, absolutely indispensable. He's our man on the ground. He used to own some of our assets, and in fact, he had done some rudimentary works in trenching, sampling on our gold asset, and until he made a discovery, which is now the Tuvatu gold asset owned by Lion One, it's going to production soon. It's in development. It's just under 800,000 ounces, and so he, unfortunately at the time, he didn't do any further work on ours, and then lost track 'cause they were owned privately for a very long time until we got them.
So, in fact, he approached us and was very, very excited that someone had then under control, and we hired him immediately. He was sitting on a wealth of data from the work that he had done. And he believes that our gold asset could be the next Tuvatu, similar epithermal vein structure. So we'll just wait and see. Now's the time to just get some work done finally, and see if he's right.
Tom Wallace: Yeah. One thing that obviously drew big name investors like Doug and Jayant to Thunderstruck is the fact that you guys have such a tight share structure. Can you go over the share structure?
Bryce Bradley: Sure. Even now, after working for three years to tie up these assets, of course no one's been able to pay themselves. That's perfectly fine. We're all heavily invested. We've come into every financing, and we've been keeping the company afloat because think this is worth it. We only have 34 million shares outstanding, and own, geez, almost 200 square kilometres of highly prospective assets on the ground. So, we've been very, very fortunate to be able to have such strong and supportive shareholders like this. And the downmarket didn't hurt when negotiating with the vendor in that we go a very good deal.
Anglo American, rather, sorry, Anglo Pacific it's called, had drilled off our zinc-copper VMS assets to approximately 7% zinc and 1.5% copper over minable widths. Our copper porphyry is low grade but could be large, we don't know yet, but we have all of the data. We amassed that in the last couple years, and have it now in an online data room for potential joint venture partners to review. It's all packaged up and pretty much ready to go. Anglo only dropped the assets way back in the late '70s because they did a couple holes in our copper porphyry, but they made a discovery just 20 km from ours of another copper porphyry that is now owned by Newcrest and is in development. Very, very large and low grade like copper porphyries are.
Ours is different in the sense that we have very high gold showings, so who knows, who knows.
Tom Wallace: Yeah, yeah. Well, can you tell us a little bit about the exploration programme that you've got planned?
Bryce Bradley: Right. So, the exploration season just started, and it runs 'til December, so what we're planning to do, our technical advisor is an expert in copper porphyries and believes that for the most bank for the buck, we can do some work on the copper porphyry for a couple hundred grand, he's bringing over his crew to do some IP and some further sampling and to review the current data that we have, and that with a couple hundred thousand dollars of work over the next couple months we can show some size, which will attract joint venture partners. We will concurrently do some fairly low-cost work on our gold asset. We own our own drill, it's a man portable drill, so once we get a bit of mapping trenching done in the next month or two, we're going to bring in the drill and punch in some short holes just for exploratory purposes.
If we find what we think we have, and we get some share appreciation, then we can raise some capital at a higher price just, again, so we're not too dilutive, and do a meaningful drill programme on the two VMS zinc-copper assets that we have. They require a bit more money to give it any real love.
Tom Wallace: Yeah. When it comes to the exploration programme, what will it take to cause a revaluation of the stock?
Bryce Bradley: With the drill programme?
Tom Wallace: Yeah, yeah. What sort of results would you need to cause a revaluation?
Bryce Bradley: You know, if we're conducting, actually, our deeper drill programme on the zinc-copper assets, we just need to ... If we twin the Anglo holes, I think most people would agree that Anglo is not a fly-by-night company, and we have all the drill data, and we even have the drill core. We would only have to twin a couple of the holes to confirm the historical results and bring them up into modern-day, 43-101 compliance. We could get a small resource on both of the two VMS assets without too much drilling if the one or two holes come back as being accurate, and we could punch a few more holes into the extension that extends far wider than where Anglo drilled. They put in 20 holes in each, more or less, so I just think that once we get a few holes in both of them, like four or five holes in each, we could show some real size.
Tom Wallace: Where can investors find out more about Thunderstruck Resources?
Bryce Bradley: Well, our website is thunderstruck.ca, very simple, and on the homepage the presentation is always updated, and there's also a very good 3D video that's at the bottom of the homepage, mostly for laymen, it shows everything from where is Fiji on a Google Earth and it goes onto the island and shows the various mines that are there in various stages of production, and then it goes underground and shows our assets and what we have and where the drill holes are located, just to give an indication to viewers of what this could look like. We don't have a resource, so we can't give out any resource estimates, but people can come to their own conclusions by seeing where the holes are drilled and how much zinc was in various intercepts along the way. We will be working towards getting further information and a full resource, you know, as time permits in the next couple exploration seasons.
Tom Wallace: No worries.
Bryce Bradley: Yeah.
Tom Wallace: Bryce, thanks for joining me.
Bryce Bradley: Thank you very much for interviewing me.
Tom Wallace: Cheers!
Ladies and gents, you can find Thunderstruck's website link in the description box below. It's www.thunderstruck.ca, and the company trades under the symbol AWE on the TSX. I'm a shareholder of Thunderstruck. I really believe in Bryce, in Brien, in their thesis that they have something huge in Fiji just waiting to be found. I'd encourage you all to visit their website and familiarise yourself both with the company and Fiji as a mining jurisdiction. Stay tuned for more interviews, and hit subscribe so you don't miss any of the content that I'll be putting out in the near future.