Gold Project Near Canadian Malartic, But Does the Geology Extend? | Renforth Resources CEO Interview

**SPEAKER_1** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today on the CEO BBQ, Gold Exploration right next door to Agnico Eagles Canadian Malartic Mine, together with Renforth 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, Renforth Resources' flagship sits immediately adjacent to Niko Eagle's Canadian Malartic mine, and that's on the Cadillac break in the Malartic area of Quebec's Abitibi Greenstone Belt. The goal here is structurally controlled within the deformation zone, a setting that has hosted multiple past producers in this specific district, and it's something that I'll be asking about later on as well. The most recent resource estimate is from April of last year, and it shows roughly a quarter of a million ounces, it's specifically 266,000 ounces of gold in measured and indicated, and that's at 0.86 grams per ton, but there's additional material in inferred both inside and outside the pit shell, something that we might touch upon as well. Right now, what Renforth is doing is some surface stripping and channel sampling at Parbec itself while also working on permitting a larger drill program, again, all of which, I'll be asking some questions on later on. The upcoming news here seems to be, or it's my expectation, that it will be related to the planned dewatering of the historic 1980s underground decline with the permitting process expected to take 12 to 18 months before bulk sampling can begin, as well as fresh data on great continuity and metallurgy. Hopefully, a more specific update on timing behind that in a couple of minutes here in the interview, but also just more specifics on expectations and whatnot. That's not the only asset they have though, and they might actually have different plans for this asset, something that I'll talk to Nicole about here in a second. But Victoria is the main secondary asset, if that even sounds right, but it is the main secondary asset. It's a polymetallic system roughly 20 kilometers long, where the initial inferred resource got 125 million tons over 2.5 kilometers strike. There's limited drilling and surface work continuing there alongside the Parabec program though. Again, this is clearly a secondary asset for the near term at least. But again, I'll try to get in a quick question about that toward the end of the conversation as well. Now for some of the numbers and a bit of the details, Renforth is listed as RFR in Canada, where the average daily volume over the last three months has been about 200,000 units. The 52-week high is 3.5 cents and the 52-week low is 1 cent. With a little under 465 million shares outstanding and an $11.6 million market cap today, this is a 2.5 cent stock with a 50 and a 200 day moving average at respectively 2.3 and 2.1 cents. The stock is now trading above those two.
I guess that's technically, but just looking at the chart here, trading kind of looks peculiar. It's something that I'll ask about later on in the conversation as well. Now the 23 million options outstanding and almost 76 million warrants, which combined represent about 17.5% of the 561.3 million shares on a fully diluted basis.
The last time they raised capital was in March. So just a few months ago, they raised about a million dollars. Canadians, their non-broker private placement did that at 2.5 cents and it had a full warrant on it for a five cent warrant for two years.
How much of that money is still left? How much of that money are they going to spend this year? When are they going to be back to the market as well as how? Those are all questions that I'll be asking later on in the conversation. But for this to actually become a conversation though, I will unfortunately have to shut up already. Nicole, I'll let you do the talking. But first of all, thank you for sitting down with me today.