Latin Metals (TSX-V: LMS)(OTC: LMSQF) Director of Corporate Communications Elyssia Patterson on C$900K Sale of El Quemado Lithium Project & Benefits of Prospect Generator Model
Gerardo del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me once again is the director of corporate communications for Latin Metals — Ms. Elyssia Patterson. How are you today, Elyssia? It's great to have you back on.
Elyssia Patterson: Thank you for having me, and it's always a pleasure to come on, and it is a fabulous day.
Gerardo Del Real: It is a fabulous day. Listen, the last time that you and I spoke, we talked about the business model for Latin Metals, which is to secure quality projects and advance them to the stage where you can either joint venture them or outright monetize them. Obviously, when you do that, you want it to be accretive for shareholders.
It's funny because you had some news earlier this morning where you sold the El Quemado lithium project in Argentina for nearly C$1 million in total consideration. And I'll be perfectly honest, you have such a high-quality portfolio in Latin Metals that I didn't realize you had a lithium project tucked in there.
But as a shareholder, I'm happy to add another million dollars in cash and stock to the treasury. Can you speak to that a bit?
Elyssia Patterson: Yeah, the transaction that we are going to do, we have a 2% NSR on future production from the project, and we have C$400,000 coming in as non-dilutive cash and C$500,000 in securities in the company, South American Lithium, which is currently private but they're going public in Q2 of this year.
Gerardo Del Real: Excellent. Now listen, this comes on the heels of… and not to interrupt but I just want to provide context for everybody before people get confused and think, ‘Oh, they must have a lithium business; that's the cornerstone.’ That's the furthest thing from the truth. I don't want it to be misconstrued.
You have multiple, multiple high-grade copper-gold, gold-copper projects scattered throughout Argentina and Peru, three of which, I'm hoping, will see drilling this year. You have some major partners invested in the company and in the projects that are going to be funding that exploration.
I just wanted to make sure that I provided some proper context for everybody out there.
Elyssia Patterson: Yes, so with us as a prospect generator as our model, we really focus on precious and base metals. That's what our thing is. We're not just focused on copper and gold.
If we find a property with lithium or something else, we will do surface exploration and get it to that point where we can either, like our model says, have a partner come in or we will sell it to someone like we did with El Quemado.
Honestly, this transaction has proven our model as consistent with what we've been saying to the public is that we want to partner or find companies that will take over the project.
Gerardo Del Real: The major catalysts moving forward, of course, are the multiple drill programs that you have in the queue. I will be at PDAC here next week. I understand Latin Metals and yourself, of course, will be there.
Where can people find you if they're looking for excellent copper-gold, gold-copper exposure in a company that's very well-structured, that's got major partners funding exploration, and, by the way, still has a lot of projects in multiple jurisdictions that are eligible for joint venture and advancement?
Elyssia Patterson: Yeah, exactly. We have two properties right now that are looking for a joint venture. And then, we have about six of our own LMS [Latin Metals] exploration projects. And that’s just going to go in the funnel, and then we’ll go and try to find a partner for those as well.
We will be at PDAC and our booth is 2329. So please stop by and say hi to me, and I'd love to tell you more about Latin Metals as a whole and our model. It's very different than the usual mining model.
Gerardo Del Real: I absolutely agree. It mitigates risk; it absolutely appreciates shareholder capital and investment. And I for one am looking forward to seeing you again and stopping by and speaking with you, Keith, and the team. Thank you as always, Elyssia.
Elyssia Patterson: Thank you very much for having me on, and have a wonderful rest of your day.
Gerardo Del Real: Same your way. We'll chat soon.
Elyssia Patterson: Thanks.
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