Almadex Minerals (TSX-V: DEX)(OTC: AAMMF) CEO Morgan Poliquin on Being Cashed Up & Gearing Up For a Discovery Filled 2024


Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today for a very, very timely but overdue update is the President and CEO of Almadex Minerals, Dr. Morgan Poliquin. Morgan, it is great to have you on. It's been too long. How are you today, sir?

Morgan Poliquin: Doing great. Thanks so much for having me on. I hope you and your readership all have a great Christmas and looking forward to giving this update.

Gerardo Del Real: Wonderful. Listen, it's clear to me from the most recent release that you have really decided to go back to your knitting, and your knitting has always been, in my opinion, two things, vetting and then bringing in very, very high-quality prospective projects, whether it's in the gold space, the silver space, the copper space. You've had a history in your family of doing that extremely well. The second thing that you do very, very well, because you make discoveries on a lot of these properties. So when I see the recent pivot into more of a North American-focused exploration portfolio, and I couple that with the fact that you're trading, I think it's something like $5 million below what the cash position in the company is.

Then I remembered that you own... I believe it's up to six drills now, and we have a gold bull market. I think we're going to have a copper bull market, and that's right around the corner here in 2024. So when I look at all that, Almadex is one of the most undervalued speculations for gold, copper, and silver exposure. So I thought it'd be a good time to have you on to speak about the portfolio, and maybe for those that aren't yet positioned to explain the value proposition, because a ton of value at these levels.

Morgan Poliquin: Thank you very much. Yeah, we are prospectors. I focus on finding things at the earliest of stages. We think that early-stage prospecting, for our skillset, provides the greatest value proposition. You're right, we do have a history of finding things where there were no things on the map before. For example, in Mexico, our work resulted in three discoveries, two in Veracruz and one in Puebla State. Unfortunately, in Mexico, for five years or so, there's been a moratorium on new concessions. So we've been focused on that portfolio in Almadex, and we've pivoted to really focusing on the United States. We have a long history of doing work in the United States, and we feel like there are tremendous opportunities to, believe it or not, make new discoveries. That's our focus. We're not looking at redeveloping old mining camps. We feel that there are things to do where there aren't existing claims to stake your own claims. The low entry price is obviously involved in that. Then to do the preliminary work and hopefully, obviously, make a discovery through diamond drilling.

We're fully integrated. So I mean by that, that we have all the internal skillset to do that preliminary work. I focus on the generative aspects and then right up to drilling. So we do own diamond drills, and we feel that early drilling is key to value creation in the discovery process. That should be obvious. But oftentimes, you'll find that drilling is some of the last things done. Because we have, by owning our own drills, cheaper internal drilling costs, we're able to use the drill as a prospecting tool, and it's the only way of evaluating the potential. So I am really excited to be working in the United States again. We've staked a number of targets, and one of them we've talked about already is being a project that we think has potential, in particular, for copper in Arizona.

In our latest release, we've talked about some of the stuff we're doing in other parts, but basically the western part of the United States, it remains highly prospective. That should be obvious. There's some of the world's biggest copper and gold deposits in Nevada, Arizona, Utah, and New Mexico. Those four states are really where we're looking for early-stage opportunities to stake. What our plan is, not all of these early-stage targets are going to result into things that we're going to want to drill necessarily, but the idea is obviously to work through them and to keep generating. Yeah, it's really exciting to be back to our old knitting and our old stomping ground, really. So expect us, in the next year, to be talking about this early-stage work. In January, we expect to be able to announce, in more detail, what our plans will be for 2024.

Gerardo Del Real: I am looking forward to it. I am looking forward to drilling. I know that there's a great likelihood that multiple properties get drilled. A lot of these, most of these, are 100% owned. Where's the cash position today, Morgan?

Morgan Poliquin: At the end of the last quarter, we're 17 million in cash. Obviously, that gives us the luxury here, I think you might say, of being able to decide how we're going to advance projects. Again, I really believe that early-stage drilling is, it might not result in a discovery immediately, but you're exposing yourself to that while at the same time, you are advancing the project and giving you the information needed to either remove it from further spending if you don't find what you're looking for there, which is an important thing to do. You don't want to waste time on projects or to provide the information to vector in. So that's really what that cash position allows an early-stage generative company like us to be able to do the flexibility to advance it.

Gerardo Del Real: Excellent. I want to remind everyone, $17 million in the bank, $13 million market cap, six drills, and a portfolio of not just properties but royalties as well that provide excellent, excellent exposure to future revenue. It sounds like an exciting 2024. I'm looking forward to it. Morgan, thank you again for taking the time and providing the update.

Morgan Poliquin: Thank you very much, Gerardo. I appreciate it.

Gerardo Del Real: Take care now.

Morgan Poliquin: You too.

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