Copper Sulphides in 8 Drill Holes, But Is There a Real Discovery? | Leviathan Metals CEO Interview

Antonio (0:00)

This video is sponsored by Terrahutton, who makes the invisible, investible. Today on the CEO BBQ, Sediment hosted copper exploration in Botswana, together with Leviathan Metals. 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, the flagship project for Leviathan is called the Central Project, and it's located in, again, it's in Botswana, specifically in the Kalahari Copper Belt. It's directly adjoining the southern edge of MMG's Kumakawa operations. I had to practice in the mirror before saying Kumakawa a couple of times, and I think I have it down now, but Leviathan is looking for the same style of sediment-hosed copper mineralization that occurs along the Dakar and Guaco Pan formation contact, so that's something that we'll talk about as well.

This is an early stage project, though, so it's a conceptual target. It's a covered target that's centered on previously untested formation, so it's on the Hyena Hills Dome, and of course, I'll be asking some questions about that later on as well.

Right now, the company has completed roughly 3600 meters in 14 widely spaced diamond holes, where they've seen visual copper sulfites in eight of them, and they're currently waiting for the assays, so the assays are not in, those are just visual assays, if you will, but drilling continues, so they're drilling a 10,000 meter program, which of course, I'll also ask some questions about later on. The company also has some assets outside of Africa, by the way, specifically in Eastern Europe and I'm thinking Serbia and Bosnia, where they've already had assays showing high-grade zinc, lead and silver from trench results, which are now being studied to then come up with drill targets and hopefully a first phase drill program there sometime soon, which I'm hoping to get an update as well.

Those are the two most active projects, but there's other stuff as well. If we go back to Africa and then we go back to Botswana as well, there's one with a uranium thesis on it even, and there's even some ground in Australia, but as far as I understand it, they're not receiving any meaningful attention or capital right now, but maybe if we've got the time for a quick update on them in the latter part of the conversation. Now for some of the numbers in a bit of the details here, Leviathan is listed as LVX on the TSX Venture Exchange in Canada, where the average daily volume over the last three months has been about 57,000 units. The 52-week high is $1.05 and the 52-week low is $0.35.

With 116 million shares outstanding and a $46.5 million market cap today, this is a $0.40 stock. There are 8.2 million options and 20.5 million warrants outstanding, which collectively represent about 20% of the 145 million shares on a fully diluted basis. The last time they raised capital was in May of this year. They raised 10 million bucks at 64 cents. How much money of that is still left? How much money are they going to have left at the end of this 10,000 meter drill program? What else are they going to be spending money on? When will they have to go back to the market to top up? Those are all questions that we'll be asking later on in the conversation. But for this to actually become a conversation though, I will have to shut up already. Luke, I'll give you the word here. But first of all, thank you for sitting down with me today.

Luke (3:50)

Thank you. I'm really looking forward to it.

Antonio (3:53)

I'll be looking forward to the conversation as well and learning more about Botswana and of course, your thesis for the project from a time, money and risk perspective. But let's maybe set the stage here before we dive into all that. Even before we do the smell test, I basically want to understand how you plan on making people money on this thing because I mentioned you got multiple projects on the books right now, Eastern Europe, Australia, some stuff, some uranium stuffing Botswana and of course, your flagship asset as well that we'll talk about. But what has to happen here across the portfolio in order for me to make money on the stock if I bought today?