Copper Exploration Next to a Massive Mine, But Can They Prove Economic Scale? | GSP CEO Interview

**Antonio** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today, we're going to see your BBQ, gold and copper exploration in British Columbia, Canada together with GSP Resources.
But if you're short on time, subscribe to our free newsletter, and once a week, we'll send you a five-minute summary of all interviews we put out, resourcetalks.com for a free weekly newsletter. Now, although this company has not paid us for the production of this video, you should still understand that we are not financial advisors, and this is not intended as financial advice. It is a broad, general, and in-personal piece of information intended only for those who know and understand the risks of junior mining, of which there are many. Before moving on, read the company's official filings on SitterPlus.ca and do your own due diligence. Pause the screen and read all the disclaimers I've shown you because your capital is at risk. If this isn't clear, go to the last section of this video for a longer explanation of the risks and biases, and do not consume this content if you don't agree with everything said therein. Moving on, GSP's flagship is the Alwin Mine Project. It's a 575-hectare land package sitting 18 kilometers west of Logan Lake in British Columbia's Kamloops mining division and right up against the western edge of Teck's Valley Pit, which is part of the Highland Valley copper mining operation, I guess, because it's not one mine. There's a whole operation going on there. What GSP has here is a past producing high-grade polymetallic deposit. It's a copper, silver, gold, scarn and a replacement system in what is really an unknown porphyry camp, where historic underground mining from the early 1900s through the 1970s pulled out a decent amount and also decent grades from a handful of steep veins and replacements as well. But the real story now is the combination of near mine and this is a historic mine again, but near mine extensions plus the untested porphyry copper potential on the 100 percent owned Mer claims. They're about two kilometers to the northwest.
The most recent NI 43-101 technical report was filed last year, so in January of 2025, and it gives the project an inferred resource of 1.46 million tons at 1.08 percent copper. So that's 35 million pounds of contained metal there, with roughly two-thirds of that sitting in the open pitable material, and then the rest is underground. Interestingly, silver and gold credits were left out, and partly because of the spotty historic assets really, even though recent holes have shown that they could matter. But of course, more about that later on as well. It's more about the history of the asset. As of early June, 2026, the company's now mobilized field crew has kicked off phase one drilling at the combined Alwin-Mer properties.
They're going to be following up on the high-grade gold zone hits in late 2024 That was on those step out holes at Alwin, while also testing the big conductive pour-free target at Mer, as I mentioned earlier.
Which of course, all of that will be the focus of the conversation here today. Now for some of the numbers and a bit of details, GSP is listed as GSPR on the TSX-V in Canada, where the average daily volume over the last three months has been about 52,000 units. The 52-week high is 29 cents and a 52-week low is 7.5 cents. With a little under 58 million shares outstanding and a $5 million market cap today, this is a 9.5-cent stock with a 50- and a 200-day moving average at respectively 12 and 11.5 cents, so the stock is now trading below those two. They're close to 16.4 million warrants and 4 million options to get a representing about 26% of the fully diluted 78.2 million shares. The last financing they closed was actually quite a while ago. It was on April 2 last year at 10 cents with a full warrant for two years, exercisable at 15 cents, bringing in a total of about a half a million dollars. How much money do they have left right now, though? How much money would they need to do all the work this year? And will they have to be back to the market? Those are, of course, questions that we'll be asking later on in the conversation. But for this to actually become a conversation, though, I'm going to have to shut up. And Simon, I'll give you the word here. But first of all, thank you for sitting down with us today.

**Simon Dyakowski** (4:27)
Well, thank you for the invitation and great to chat with you. I really appreciate it.

**Antonio** (4:34)
Pleasure. Mine of, I should say ours, but I don't want to speak for Christian, because I know this is the second one he's doing on a Monday here. So, Christian, what do you say?