Gold Project Next to AngloGold in Nevada, But Is There a Real System? | Bullfrog Gold CEO Interview

SPEAKER_1 (0:00)

This video is sponsored by Terrahutton, who makes the invisible, investible. Today on CEO BBQ, Gold and Silver Exploration in Nevada, together with Bullfrog Gold Corporation. 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 impersonal 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 do not consume this content if you don't agree with everything said therein. Moving on, a flagship for Bullfrog is the namesake Bullfrog Gold Project, located in the Walker Lane trend in Nevada. More specifically, the project is near the town of Beattie, which is roughly 120 miles northwest of Vegas, and about five kilometers south of AngloGold Ashanti's North Bullfrog Project.

Their project covers 488 unpaned and BLM claims over about 10,000 acres and is targeting low-sulfidation epithermal gold and silver systems that are typical for the Walker Lane trend itself. The main drill program is expected to start in Q4 of this year, and it's expected to be approximately 3,000 meters of diamond drilling from seven permitted pads, four at Shingleback, and three at Longtail. Of course, that will be a big part of the conversation later today.

The other near-term corporate catalyst, if you will, is the completion of the financing, which actually just closed this morning. They increased it from 5 million to 8 million. I think it closed at about seven and a half. They did that at 20 cents per unit. Now, for some of the numbers and more details, Bullfrog is listed as probably one of the better tickers symbols I've seen in a while, but it's frog, F-R-O-G, and then maybe we'll talk about who they had to talk to in order to get that ticker symbol on the TSX-V where the average daily volume over the last three months has been about 135,000 units. 52 week high is 29 cents, so 52 week low is five cents. With the financing at $7.5 million, if we assume it, they've got about 120 million shares outstanding, and today's 19 cents share price, that would make it about a $20 million market cap. Again, the numbers have to come through, and my math, you can never trust, so I'm just doing rough numbers here.

Again, with the financing now closed, they will have about 20 million warrants outstanding and about 8 million options, which means that dilutive securities collectively would then represent about 20% of the fully diluted, call it 145 million shares, again, on a fully diluted basis. With $7.5 million just closed now, where is that money gonna go? What is it gonna buy them? How long is it gonna last them? Those are, of course, all questions that I'll be asking later on in the conversation, but for this to actually become a conversation though, I will have to shut up already, and gentlemen, I'll give you the word here, but first of all, thank you for sitting down with me today.

Ian Slater (3:19)

Thank you for having us.

SPEAKER_1 (3:21)

Pleasure is mine. I'll be looking forward to the conversation. What's the relationship, by the way, to the same last names, so I got to ask.

Ian Slater (3:28)

This is our first project together with my son, Michael.

SPEAKER_1 (3:31)

Okay. Good.

After the first project, we'll know who of you is actually happy or whether both are maybe happy, whether both are maybe disappointed, but it's going to be an interesting one for sure.

Ian Slater (3:44)

So far, so good.

SPEAKER_1 (3:46)

Yeah.

Ian Slater (3:46)

So far, it's been an absolute blessing.

SPEAKER_1 (3:49)

I do. Well, you would say that, wouldn't you? You're dad. I would.

Ian Slater (3:54)

Well, the one thing though is Mike has the same laugh as me. So every time he goes to a conference, everyone stops him and says, do you know Ian? Yeah. I lived with the guy for like 20 years. It was crazy.

SPEAKER_1 (4:09)

That's pretty funny. Actually, we can talk about you guys' background and what not here in a second. I do want to set the stage though, with probably one of the most important questions that a potential investor could ask. How would you guys make me money if I bought Bullfrog today? What has to be true over the next 12 months in order for me to make money on the stock?