Kodiak Copper (TSXV:KDK) - Fully Funded Drilling Targets Resource Growth & Closing Peer Gap

Claudia Tornquist (0:00)

Hello, my name is Claudia Tornquist. I'm the president and CEO of Kodiak Copper. I'm here with Chris Taylor, Kodiak's founder and chairman.

Kodiak is focused on the MPD Copper Gold Porphyry Project in Southern British Columbia, where we've come up with a maiden resource and have now a big drill program underway this year to grow our resource and where we will have lots of results coming.

SPEAKER_2 (0:29)

Fantastic. Good to see you guys again. I think we were here a year ago in this very spot. Beaver Creek, we're at Beaver Creek. You're here to meet investors and catch up with other industry folks.

How's it going for you? What are you expecting from it, Claudia?

Claudia Tornquist (0:44)

It's a very good conference, lots of meetings and a full diary. Certainly, this year is an exciting year for Kodiak with lots of news.

Very positive.

SPEAKER_2 (0:56)

You've made it all the way here?

Christopher Taylor (0:57)

Oh, yeah. Another busy conference.

SPEAKER_2 (1:00)

Another busy conference. Good. Well, I wanted to catch up with you guys because there's a lot changing. There's some great results we've seen recently. But I want to start with Kay Copper, venture with Teck.

Christopher Taylor (1:14)

Yes.

SPEAKER_2 (1:15)

Can you explain the setup there, what you have of it, what percentage you own of that and what next? What are you going to do with that money you've raised?

Christopher Taylor (1:24)

That's quite interesting. So as we may have discussed in the past, and we've had a number of discussions over the years, but you know that we had this asset, this porphyry copper asset in Arizona, in Kodiak, and it was called the Mojave Project, and it's been sitting there dormant. I was last looking at the project, or I should say I first looked at this thing about 15 years ago. So it's been in the Kodiak portfolio for many, many years.

We're assessing where the market is going in terms of global tailwinds that we're all benefiting from right now, and certainly a move in the United States in particular to strategic minerals and critical metals and these sort of things. And so Claudia and I had a strategy discussion about this. We went and had a little discussion with Teck, and we talked to them about, well, if you have assets in your portfolio during your restructuring and other activities that you're going through, what do you like the best in terms of what you have? And it turned out, when we had that discussion, there was a project called Copper Hill, which was also in Arizona, where our other property was. And it just seemed to us like a very logical thing to do, to put these two porphyry copper assets, because they're jurisdictionally compatible.

They're in terms of metallic assets, they're compatible. And it fits the sort of political climate that we think is really ripe to be, you know, to benefit shareholders. And so we put Mojave together with Copper Hill, and now we're forming this new company, Kay Copper, which is going to be run by somebody that I admire a great deal, who was one of the best analysts on the Great Bearer portfolio. His name is Adam Schatzker. He's taking over as CEO. And this is something that Kodiak will actually have a significant share ownership percentage in.

SPEAKER_2 (3:06)

What is that, 26.4?

Christopher Taylor (3:07)

Yeah.

SPEAKER_2 (3:08)

So it's pretty chunky. But you've raised just over 5 million bucks initially.

What, how's the relationship work in terms of decision making about how you allocate that spand? And what are you focused on first?

Christopher Taylor (3:20)

Well, when we got into the agreement with Teck, they had a number of high priority targets that we'd really like to look at at Copper Hill. And so these were things that really excited their geological team, the explorationists, and obviously Mojave is our project. I've had my eye on some drill targets there for many years. We were never set up to the position where we were ready to actually work on it because we had major discoveries on our hands on MPD.

And so what we have is a prioritized list of targets. We do want to get to drilling. There's some other work that we want to do in advance as well. And so very rapidly, with the money that's on hand, we'd like to go through the data. It's a huge amount of data that we got from Teck. We did some really advanced work. We'll sort through that, and then we'll start doing field work right away.

SPEAKER_2 (4:02)

See, it closes in October at some point, the deal.