Kutcho Copper (TSX-V: KC)(OTC: KCCFF) CEO Vince Sorace on C$2.5M Financing & Feasibility Study Progress at Flagship High-Grade Copper-Zinc Project, British Columbia, Canada
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president & CEO of Kutcho Copper — Mr. Vince Sorace. Vince, how are you today?
Vince Sorace: I'm doing great, Gerardo. Thank you for having me again.
Gerardo Del Real: I imagine you're busy. You're in the midst of a C$2.5 million financing that I understand was very well-received. And it looks like a good little bit of that's going to go to the Feasibility Study which you just had a news release about updating shareholders on the progress there.
How are things coming along, Vince?
Vince Sorace: Coming along very well. We're moving to the Feasibility Study. And I can't really get into specifics because we're not allowed to. But what I can say, and we did put out a press release the other day, is that we're moving through the components of it. It's going well. We're looking forward to continuing down this path… identifying additional opportunities for the project. Yeah, I guess, in a nutshell, it's going well and we’re happy.
The financing that we announced — a little on the flow-through side of it — allows us to get back into the field with respect to the permitting and complete baseline studies that feed right into the permitting. So keeping those up-to-date and giving us the ability to keep moving through that process smoothly.
And the balance of the capital keeps us running smoothly not only just through the Feasibility Study but enough capital into next year. Because I think there's going to be, my guess is, a lot of excitement at this point when we do get that Feasibility Study out. And I think there's going to be some strategic opportunities, and it gives us time to evaluate those.
Gerardo Del Real: Excellent! Are you still on-target for completion by mid-year?
Vince Sorace: Yeah, we're still looking, at this point, mid-year to get that posted.
Gerardo Del Real: You mentioned getting back in the field, and, obviously, you have a robust resource with some great economic parameters around it. But I’ve got to believe that the exploration upside is something that you have to be intrigued about exploring, right?
Vince Sorace: Most definitely! And the only reason we haven't been out there doing that already over the past few years is we were not in a robust market. Our share price was too depressed, and I'm not a believer in taking a lot of dilution. Our cost of capital is not conducive to doing that.
And so I would say that we have been aggressively, internally, revisiting all of the exploration potential… and at some point here, we are going to go back at it. With our share price up — and my job is to get it higher — that's going to be moved up the priority list.
And there is a ton of opportunity on this project from existing or near-resource drilling to expand the current resource as well as lots of blue sky greenfields-type targets that we're going to be hitting as well.
Gerardo Del Real: You're busy now. It sounds like you're going to be busy the rest of the year. You have the financing, you have the Feasibility Study, and you have what looks like a pretty aggressive exploration season ahead of you.
Anything else to add to that, Vince?
Vince Sorace: No, other than we're definitely in a good space right now with this copper market, with copper hovering around $4 here, and a lot of optimism around that. Obviously, that plays directly into the value of the project.
We've got big leverage levers on the price of copper. And that's already going to have a big impact on the value of this project. And obviously, anything — as we continue to go higher, and I do believe we are, on the copper price — just continues to add a lot of value to this.
Gerardo Del Real: Vince, thanks for your time. Looking forward to having you back on!
Vince Sorace: Thank you, Gerardo!
Gerardo Del Real: Bye now.