General Precious Metals
Prospector Metals (TSX-V: PPP)(OTC: ETHOD) CEO Alex Heath on Laying the Foundation for Multiple Discoveries in 2022
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the President and CEO of Prospector Metals – Mr. Alex Heath. Alex, overdue for a catch up. How are you, sir?
Alex Heath: I'm doing pretty well. How are you?
Gerardo Del Real: I am well. I'm looking forward to catching up in person. Hopefully, we're able to touch base in Beaver Creek here in September. We chatted a bit off air and I told you privately, and I'll say it publicly on air, that I think September is going to be a busy and very robust month as it relates to news flow and volume. It's been quiet with the summer doldrums. Prospector’s stock has drifted lower with the bulk of the sector. But again, I think just with everyone out of the office, not too many people are paying attention, which is why I reached out. You have multiple exploration programs and catalysts coming up, and I thought it an opportune time to provide an overview and an update on everything that's going on out there.
Alex Heath: Absolutely. Yeah, I totally agree. I think it's like a coiled spring, all these companies have been out there doing work, ourselves included, and we're hoping for September to come out with some results and have the market, everyone back at their desk paying attention. And I think it will translate into higher share prices.
Gerardo Del Real: Agreed, agreed.
Alex Heath: I'll just jump right into it. So, yeah, like you said, we've got three projects that we've been working on throughout the summer. We've been waiting on the anticipation of news the whole summer. So here we are.
We're going to be putting out a lot of catalysts in the next few weeks here, starting with our Toogood Project in Newfoundland. That's a project that we put together in 2020, 2021, and came up with very high grade grab samples. We finally drilled it this summer and we're expecting results in the coming weeks here. So we're very close. That'll be coming out soon.
In Ontario, yesterday, we just put out news on our Savant Project. This is more of an earlier stage opportunity, but again, district scale opportunities where we're trying to use a different approach. In this case, historically, people have looked for geophysical targets and drilled them. Whereas we're looking for larger structures. And we've found two deformation zones. These are large corridors where we can find mineralization, and we're finding grades up to 90 grams per tonne, plus. So very encouraging.
Finally, we are in Quebec working on our Schefferville Project. Look out for news on that one very shortly.
Gerardo Del Real: That's a lot of catalysts for a company whose market cap is... Where is it right now, Alex?
Alex Heath: I don't even want to look. It's probably around $14 million.
Gerardo Del Real: How's the treasury looking?
Alex Heath: It's good. We're in a good place right now. We've got about two million in cash. Plus, we have about three million in securities. So, very good in terms of working capital. We're not anticipating having to go back to the market, especially with these kind of prices.
Gerardo Del Real: Well, I know that Co-Chair of Prospector, Dr. Rob Carpenter, has taken a lot of pride in picking these projects for Prospector. Of course, the team is excited about everything that's coming up. You mentioned all the catalysts, you mentioned the tiny market cap. We've seen both bull and bear cycles in the resource space, especially with the juniors. I think your description of a coiled spring is a very appropriate one. Alex, great catching up. Anything else that you'd like to add to that?
Alex Heath: No, I think we're almost there, so really appreciate everyone's patience and I think everyone will be rewarded for that exact patience. Looking forward to September.
Gerardo Del Real: Sounds like a lot of news flow even between now and then, with a couple of weeks left in August. Looking forward to catching up again. Thank you again.
Alex Heath: All right. Thanks so much.Click here to see more from Prospector Metals Corp.