Categories: Precious Metals
Topics: General Precious Metals / Gold Stocks

Almadex Minerals (TSX-V: DEX)(OTC: AAMMF) CEO Morgan Poliquin on Drilling for Gold in the U.S.

 

Gerardo Del Real: This is Gerardo Del Rial with Resource Stock Digest. Joining me today is the president and CEO of one of the most undervalued exploration plays in the resource space. I'm talking with Mr. Morgan Poliquin from Almadex Minerals (TSX-V: DEX)(OTC: AAMMF). Morgan, the share price is going to go much, much higher. I am very confident of that. I love being able to bring a story or an interview to the audience before that happens, but before we get into the why the share price is headed much higher, how are you, sir?

Morgan Poliquin: Oh. Thanks for asking. Thanks for having me on. I'm doing well. How about you?

Gerardo Del Real: I am excellent. I am excellent. Thank you so much for asking. Listen, let's get right into it. You just acquired three new gold exploration projects. You have been on an absolute tear over the past couple of years, getting together a portfolio of companies, mostly in the western United States, for what clearly is now a historic, historic, precious metals bull market with the gold price right near the $3,200 level, and seemingly with lots of room to run. You just acquired three more gold exploration projects. You have, I believe, over $13 million in cash the last time that I checked. You own 6 or 7 drill rigs the last time that I checked, and yet you trade for less than cash.

Your market cap is $12.25 million. So I say all that to say, folks, if you're looking for quality exploration with a team that has a history of discoveries, you want projects in safe jurisdictions, you want companies that know how to drill and that do it cheaply, and you like having free projects, free drills, and free access to one of the smartest management teams in the space in regards to exploration, you can't do much better than Almadex Minerals. Can you give us an update on things and in these three new projects, and just where the company stands in regards to all of the projects that you have in the portfolio now? It's been impressive.

Morgan Poliquin: Well, thank you very much for that kind introduction and summary. We have been focused on building a portfolio the last couple of years, and we have decided that the Western United States is an area we know historically we already have defined an off-the-beaten-path, if you like, trend and multiple trends with potential that we felt had been under evaluated for two different deposit types of gold in epithelial systems, but principally gold and copper in porphyry systems. We think that the work that we've done around the world, I did a Ph.D. looking at regional magmatic hydrothermal systems and how trends of those types of systems can be distributed across a continental landmass in ways that you don't expect.

So, what I'm trying to say is we bring a lot of science into it, and we're first principles, meaning we're looking for brand new projects that don't currently exist in the inventory, and we think we can do that by using all this geologic knowledge and getting out there on the ground. The proof is in the pudding. We've been able to put together this large portfolio and growing. We're still out there looking for, along these trends we've identified new ones, and we're starting to be able to talk about them and talk about the fruits of that exploration program that has been ongoing for a couple of years now. The reason why we're focused on the Western United States is two-fold. Number one, it's I think increasingly obvious that the world is changing rapidly, and we kind of saw that a little bit. We kind of felt our experience in Latin America, and we kind of felt the world might shrink a little bit.

And so, we are North Americans, and we feel that metals are going to have to come from where you're from in the future, wherever you're from, and so that's why we're focused there. We also feel like the geology is, lots of things have been overlooked. There's lots of things that haven't been done. There's lots of opportunity that remains. And so, the portfolio comes of those two ideas, and what we staked we're starting to do detailed work on, and we put out this release you mentioned. One of the projects we're getting, really exciting gold values off surface very early in the exploration program. Obviously, there's a lot more work that we're going to initiate. There's other things, lots of work going on in the other properties in the portfolio. We've got porphyries that have copper values at surface, which we mentioned in past news releases. We've got quite a portfolio, and the idea now is to systematically move across advance and test it.

Gerardo Del Real: It's going to be an exciting couple of years for the Almadex team and for shareholders. You mentioned drilling them to test them. That is what you do best. When can we anticipate getting some drills turning?

Morgan Poliquin: Yeah. What we've mentioned is we drilled one last year, did some preliminary drilling on one, and it's vectored us into where we need to drill next on that project, but we have several projects with drill permits in hand and defined drill targets. What we're saying, what we said here is we're going to drill one this year, and I hope we can accelerate that program. We've just recently brought all our drills up to the United States from where they were in Mexico, and so combining that with our projects has been very successful in the past, and that's the plan forward. So we're promising that we're going to drill one this year, and we will see where we go beyond that.

Gerardo Del Real: Well, I'm looking forward to the drilling campaign. I'm also looking forward to further results from a lot of this earlier stage exploration work. Morgan, anything else to add to that? You got the cash, you got the drills, you got the projects, you got the know-how. We have the metals prices that we've been waiting years for that we thought would materialize, and I think those are headed much, much higher. I fully agree with your sentiment that the metals of the future are going to have to come from wherever you're from, right? I think that is the trend, and I think that's only going to intensify. Anything else to add to that?

Morgan Poliquin: I think we've covered it really well. We're excited. When you set out to create a whole, it's not a thing that's easy to do, to come up with a portfolio of exploration projects when you're presented with doing that. It's kind of been a joy to do, but it's been very quiet, because going out, staking claims, and evaluating things, that's something, that hard work is behind us. And so, now it's into really, as we both said here, trying to advance these projects and make a discovery. That's what we're able to focus on after all this hard work.

Gerardo Del Real: Should be a fun 2025. Looking forward to it. Thank you as always for your time, Morgan.

Morgan Poliquin: Very good. Thank you, Gerardo.

Gerardo Del Real: Chat soon.

 

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