Gold Project With Historic Ounces in Peru, But Can it Be Economic Today? | Xali Gold CEO Interview

**SPEAKER_1** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today on the CEO BBQ, high sulfidation, epithermal, gold exploration and development in Peru, together with Xali Gold.
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 biases and do not consume this content if you don't agree with everything said therein. Moving on, Xali Gold used to be focused on the El Oro district in Mexico, where people would probably call it Xali Gold at the time, but we're focused on Peru right now. They pivoted in 2025 to Central Peru, so that's why I'm going to call it Xali from now on. They now hold the Pico Machay House of High Solfidation Epithermal Gold Deposit, which they got from Pan American Silver. And the reason behind Pan American letting go of this asset is of course a question that I'll be asking later on in the conversation. Their project lies in the Santa Ana area of Juan Cavalicca's Castro Verania province, roughly 60-50 kilometers south of Monera IRLs operating Corrie Huarame Mine. And I'm just as surprised as you are that it didn't mess up any of the pronunciations there, but it tried really hard. What they've bought here is a historical resource of about a quarter of a million ounces in measured and indicated at 0.8 grams per ton gold, plus another half a million ounces in inferred at 0.6 grams per ton gold. And I'm rounding up here on that, again, historic estimate. On the ground, the team right now has been busy sampling the old underground workings that artisanal miners left behind and running surface channels across the central zone with the first batches of acids already confirming continuous oxide gold in the areas that the historical models predicted as well. And that too is something that I hope I'll be able to touch upon later on in the conversation. Now, beyond Peru, the old El Oro package in Mexico, so essentially the thing that the company was formed on, it's currently on hold. And there's a couple of royalty agreements that remain in place with third parties, but they've already written off large concession areas and they're not advancing any meaningful work there, as far as I could tell. But if I remember about that, I'll ask about it in the latter part of the conversation.
Now, for some of the numbers and a bit of the details here, Xali is listed as XJC, almost TSXV in Canada, where the average daily volume of the last three months has been about 83,000 units.
The 52-week high here is 40 cents, and a 52-week low is only 3 cents. With a little under 169.5 million shares outstanding and a $40 million market cap, today this is a 24-cent stock with a 50-hand, 200-day moving average at 25 and 19 cents respectively. So the stock is now trading below those two. There are 7.3 million warrants outstanding and 11.8 million options to get a representing about 10 percent of the 189 million shares on a fully diluted basis.
The most recent financing they closed was in June this year. It was a non-broker private placement where they raised about a million dollars at 25 cents per share. How much of that money do they still have left? What are they spending it on? And when's the next time that they might need to raise capital? Again, 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. And Joanne, I'll give you the word here. But first of all, thank you for sitting down with me today.

**Joanne** (4:06)
Thank you very much for your interest in our company.

**SPEAKER_1** (4:09)
I'm looking forward to the conversation and better understanding what you want to do here. I'm going to go over the history of the asset, your plans for the future as well as of course, high money and risks here in a few minutes.