High-Grade Copper Discovery in the Yukon, But Can it Be Permitted? | Gladiator Metals Interview

**Antonio** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today on the CEO BBQ Advanced Stage Copper Exploration in the Yukon together with Gladiator 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, Gladiator Metals' flagship is the White Horse Project. It's a scarn deposit that hosts copper, but it also has got molybdenum, silver, and gold in it. It's a bit of a polymetallic situation, which we'll also touch upon later on. The project sits along a 35-kilometer belt that situated immediately on the western edge of the city of Winehorse, which is also the capital of the Yukon territory, which does beg some questions. Of course, I'll be asking those later on. Gladiator is not the first company to try to look at this belt though. There was production coming out of here until 1982, where the previous operator mined some high-grade zones, as well as the little chief zone. But the ground then sat largely untouched by modern exploration for decades. Of course, the why behind that story will be part of my mandate in this interview as well. What are they doing on it right now is drilling. There's going to be a lot of drilling going on. There's a multi-rig diamond drill program going on under a class 3 permit that allows denser spacing as well as greater flexibility as to where they go and what they do. With most of that meterage aimed at resource definition drilling at the Cowley Park Prospect as well as some step-out work that's going to happen and some drilling on the most recent discovery which is a blind discovery at the Cub East discovery, both of which will be central to the discussion later on today. Those two things are also what could drive the next potential catalyst here as far as I could tell. So an updated resource on what's known plus maybe some step-outs and some new assays from the regional targets as well. And I'll be asking about it later on as well.
Again, there are regional targets as I'm giving away here.
There are more targets on this land package, a large land package so there's more to be drilled. And we'll probably won't talk too much about them, but we might touch upon them. Now for some of the numbers and more details, Gladiator is listed as GLAD, so that's G-L-A-D on the TSX-B in Canada, where the average daily volume of the last three months has been about 180,000 units. The 52-week high is $3.86 and a 52-week low is only 71 cents. So you do note the volatility, where there's a little under 106 million shares outstanding and the market cap is $346 million, making this today a $3.26 stock with a 50 and a 200-day moving average at $247 and $148, respectively. So the stock is now trading well above those two. And the chart is actually one of the few that's still going up. And it's also close to its 52-week high, at least from the ones that I've looked at recently, which is hopefully something that we'll also figure out the why on later on. There are 10.4 million options outstanding, no warrants though. So if you just look at the options, they represent about 9% of the 116 million fully diluted shares. The last time Gladiator raised money was in June of this year, so not too long ago. They raised about $35 million Canadian at 387 There was no warrants to that financing again, and that brought the Treasury to roughly $50 million right now. That's $50-50.
How much of that $50 is getting spent this year, though? And what exactly is it going to be spent on? That's going to be a big part of the conversation later on as well. But for this to actually become a conversation, though, I will unfortunately have to shut up already. And Marcus, I'll give you the word here. But first of all, thank you for sitting down with me today.