KORE Mining Ltd. (KORE) Earnings Call Transcript & Summary

I am Scott Trebilcock, CEO of KORE Mining, a North American gold developer and explorer. I'm going to take a few minutes in this video to tell you why I think you should be an investor in KORE. First, we have an advanced portfolio of North American gold projects, safe and stable jurisdictions. We've got a robust flagship that's got a PEA out with incredible economics. We're moving that project immediately into permitting to become a mine. We've got also multiple near-term value catalysts set up by a financing with Eric Sprott in 2020. We've got a second project PEA coming out a bunch of exploration. I'll tell you a little bit about that in a second. We're well funded with a tight capital structure with significant insider ownership. We're deeply discounted to our peers, and we think KORE is a name you should have a look at. KORE's assets are spread across California and British Columbia. We have a total of 2.5 million ounces measured and indicated and 2.4 million ounces of inferred resources in our portfolio, and we're aggressively advancing the projects behind those ounces and moving forward with each of them on exploration and development. First, the flagship, Imperial. I think a picture says a thousand words. This looks like a great place to build a mine. It's out of the viewscape of any highway, any permanent structures in the deserts of California. Very low impact mine, the way we've set it up, and we think it's a great project to move in and through the permitting process efficiently. Project, which would generate about 146,000 ounces of gold per year. For about 1.2 million ounces life of mine. This will make it a very attractive mid-tier gold project as those mid-tier starts looking around for growth in the coming months of this cycle. Project also has low capital intensity. It can be put into production by a small company like KORE or developed with a greater NPV by a large company. You can come and ask us more about that because we have some real exciting upsides on that project. All-in sustaining cost, $851, it is gold that should come out of the ground. It's about derisking it and moving it through permitting to go into production. Summary of the PEA shows those great economics, the low CapEx, the upside. We've got a really strong NPV in this project compared to the market cap at KORE. But we've got another 1 coming. So our valuation is currently about 0.32x PNAV. We're going to be adding another PEA at our second asset, Long Valley. It's a couple of years behind in the development cycle from Imperial, but it's another great project probably by the time you watch this video, the news release will already be out. So stay tuned. KORE is a catalyst-rich future ahead of us in 2020. After we raised $7 million from Eric Sprott in May of this past year, we've pushed forward with an aggressive exploration program across our portfolio. That includes current drill program going in a project in the Cariboo Gold camp in British Columbia. It includes that PEA I just talked about that we're putting out, followed up by exploration at Long Valley. We're moving forward with an exploration drill program to expand and make that Imperial flagship project even better. All in all, there's a ton going on across the company, and we've got the people in place and the capital to deliver on those catalysts. So back to why I think you should be an investor in KORE. An advanced portfolio of North American gold projects with excellent upside across the board. We've got a robust flagship project with a second project PEA in the works, I think that's going to show KORE has an incredible pipeline of U.S. gold growth projects. We've got an active exploration program generating news flow. We're well funded with a tight capital structure. We've got over $10 million in cash, a 26% shareholder in Eric Sprott; and myself and the rest of management and the board own 38% of KORE. We are side-by-side with you, the investor. And finally, from a fundamental valuation point, KORE remains deeply discounted to our North American peers. I think it's a company you should have a look. Go and find KORE Mining, koremining.com or see us at the Denver Gold Forum. Thank you very much.