Kodiak Copper Corp. (KDK) Earnings Call Transcript & Summary
October 3, 2022
Earnings Call Speaker Segments
Ellis Martin
shareholderI'm Ellis Martin. Join me now for a conversation with Claudia Tornquist, President and CEO of Kodiak Copper Corporation, trading as KDK on the TSX Venture Exchange, KDKCF in the U.S. and 5DD1 in Frankfurt. Claudia, welcome back to the program. Great to visit with you today.
Claudia Tornquist
executiveIt's great to be here. Thanks for having me, Ellis.
Ellis Martin
shareholderI'm looking at your very recent news release, and you have some very nice grade, over 117 meters with copper equivalent over 735 meters at the Gate Zone. Give us some detail on that, if you don't mind.
Claudia Tornquist
executiveYes, that the headline intercept from our last news release, the best hole that we released. We're very pleased with the result. It's a very long intercept of 734 meters, 0.34% copper equivalent. That's the grade that's higher than what is mined next door, keep that in mind. And importantly, this intercept had a large, long 117-meter section in the middle with over 1% copper, 1.03%. So really nice long, high-grade intercept as well. So very pleased with the latest drill result at the Gate Zone. And we just keep filling in and making it bigger and adding to the mineralization that we have already.
Ellis Martin
shareholderThe sector has seen a lot of pain right now, and I'm a shareholder. I'm a happy shareholder because I know what's going to be happening at some point with copper in this world. The economics will favor copper in a big way. We've had such suppression that when it returns, it should be very, very substantial. One of the great things about your company is that you're fully funded going forward, and you're not going to suffer the pain that a lot of juniors are suffering right now in the space.
Claudia Tornquist
executiveYes. That's a very important point that you just highlighted. We have a fully funded drill program going on, big drill program, 25,000 meters for this year and have similar-sized program planned next year and are well funded for it. So don't need to go back for the market to finance, which is incredibly important in the current market. We have the cash to weather the storm and generate lots of drill results over the next couple of months and come out with an advantage as and when the market turns.
Ellis Martin
shareholderI think the share structure is very, very similar to when we started covering your company almost a year ago, and there has been some selling, of course. As there has been selling across the sector, I would think with such a very nice sweet share structure that you have, that this would be a great place for people like me to accumulate more shares.
Claudia Tornquist
executiveWell, if you look at our insider filings, then you certainly see that insiders think that this is a good time to buy. Our share price has suffered like most everybody else there and certainly not where we want it to be. But yes, that's the market that's not under our control. And as I said, we are in a good situation in that we are financed and have enough cash to keep drilling and working through the downturn and come out ahead once it turns.
Ellis Martin
shareholderEnd users are not using any less copper. They're using more. And with the electrification of the world right now and this push towards electric cars, whether we're ready with a resource or not, you would think that at some point, all attention is going to focus on the juniors and the mid-tiers and the majors in this space.
Claudia Tornquist
executiveThe long-term story for copper remains completely intact. There's obviously now some short-term uncertainties with all the geopolitical things going on, and commodity prices are seeing a lot of volatility, but the electrification is just a supertanker that's in motion that won't stop. And there is no doubt in my mind that a lot of copper will be needed in the medium and longer term, and a lot more copper mines will have to be found and built. That's what our business is with Kodiak.
Ellis Martin
shareholderOkay. We're rolling into the end of the year. We're not there yet. I don't want to rush it, or maybe I do. What's the plan for 2023 with Kodiak Copper? What have you got in the horizon?
Claudia Tornquist
executiveWe have a similar-sized drill program planned to this year, so another 25,000 meters. So big drill program, and very importantly, on a number of different targets. We have so far mostly drilled on the Gate Zone, our first discovery, and near the Gate Zone and, just in the last couple of weeks, have moved on to another target, which is called Dillard, which is a very large target that I'm personally very excited about. And we have multiple other porphyry targets. What we have with MPD is a multicentric porphyry system, like many others in British Columbia and elsewhere. And so we have these previously drilled areas where we have shallow mineralization, and we are now looking, just as we did at gates, same approach for the higher-grade porphyry center, the higher-grade zone that is associated with the lower-grade mineralization that we have already. And so there's a lot of potential for more discoveries. Obviously, it's exploration. There are no promises, but I think we have a very good chance of coming up with one or several new discoveries for our shareholders over the next couple of months.
Ellis Martin
shareholderClaudia, it's always great to catch up with you. Thanks a lot for bringing this good news to our audience and shareholders like myself. I look forward to more news in the upcoming months. Thanks so much for joining me today on the program.
Claudia Tornquist
executiveThank you.
Ellis Martin
shareholderI've been speaking with Claudia Tornquist, President and CEO of Kodiak Copper Corporation, trading as KDK on the TSX Venture Exchange, KDKCF in the U.S. and 5DD1 in Frankfurt. Find the complete story on the company's website, kodiakcoppercorp.com. I'm Ellis Martin.
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