We kicked off September with four terrific companies presenting live on London South East. We were joined from Perth, Australia by Orosur Mining (OMI) CEO Brad George on the day they announced a stunning gold assay result from their Anza Columbia gold joint venture with Agnico/Newmont. Brad indicated that Phase 2 JV negotiations were progressing well and the partners were heading towards an agreement. This would mean Agnico/Newmont agree to pay a minimum further 20M into developing the project and triggers a $2M cash payment payable to OMI within 30 days.
Add this to the two low entry cost tin and gold projects OMI are pursuing and a strong balance sheet, and it leaves them in very good shape said Brad.
Tekcapital (TEK) CEO Clifford Gross Ph.D joined us live from Florida and talked us through how difficult it had been to float the 'Innovative Eyewear' business on Nasdaq, and how successful the overall strategy to develop the business had been. VC's typically took twice as long to nurture and float businesses as Tekcapital #TEK had taken. That said, the short term focus will be to continue to build those businesses which have yet to IPO and those which have before adding some new University IP talent in the medium term.
Aldo Boitano, CleanTech (CTL) CEO joined us live from Santiago, Chile and took us through the rapid development and commercialisation of the #CTL business. CTL wholly own two salars or salt lakes high in the Andes mountains in Chile. A resource estimate update is due shortly but for now the reserve estimate is 1.2 million tonnes. The project is low cost and high return because direct lithium brine extraction is significantly cheaper and faster than hard rock and methods using drying areas. it is also environmentally sound which speeds licencing decisions and makes it attractive to the EV battery industry.
Our fourth speaker was Marshall Koval, CEO at Luminex Resources (LR) who specialise in gold/copper and precious metals exploration and development in Ecuador where they hold many concessions. These have been built up over time, and now that Ecuador is looked upon as a good country to do business with, their projects now have more value. They develop and add value to concessions by themselves, and since 2018 have brought US$37M into projects through joint ventures. Anglo American are developing the Pegasus copper porphyry concession with them as operator and have already spent $15M with much more to come. The share price is at a 52 week low, which Marshall sees as a very good buy opportunity.
Webinar Timestamps
Tekcapital CEO Clifford Gross Ph.D presentation 2:46
Orosur Mining CEO Brad George presentation 34:20
CleanTech CEO Aldo Boitano presentation 1:06:54
Luminex Resources CEO presentation 1:32:18
Cleantech Lithium (CTL)
Orosur Mining (OMI)
TekCapital (TEK)