More High-Grade Copper in Newfoundland, But Is There Enough of It? | Canterra Minerals CEO Interview

**Antonio** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today in the CEO BBQ base metal exploration in Newfoundland, together with Canterra Minerals.
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 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, this is not Canterra's first time on the CEO BBQ. I've interviewed Chris multiple times over the last year or so.
Actually, it's recently, it's four months ago when I went to visit him at their offices in Vancouver. If it's your first time hearing about the company, I want to post a link to a playlist that's going to contain all the previous interviews and also all the future interviews that are coming in the future. Please watch those first as we're not going to be covering the basics here in this interview anymore. This is rather going to be more of an update on what Canterra has been up to since that last interview, which includes drilling and whatnot. They're not sure though, their flagship is the Buckins Project, which is a VMS camp sitting on the north side of Beothuk Lake in central Newfoundland. It's about 35 kilometers from Tech Resources past producing duck pond mine. Canterra's recently had some drill results from it again, as I said, which we'll discuss today, and they're now moving straight into phase two drilling across the Lundbergh extensions and untested geophysical targets. That's going to be throughout the balance of 2026 An updated resource estimate is expected by Q1 of 2027 at the latest, which of course will be a big part of the conversation here today. Now for some of the numbers and a bit of the details, Canterra is listed as CTM on the TSX-V, where the three-month average daily volume is about 360,000 shares. The stock's 52-week high is 24 cents and its 52-week low is 7 cents. With a market cap of $55 million and 393.5 million shares outstanding, this is now a 14-cent stock with a 50 and a 200-day moving average at respectively 19 and 18 cents, which means the stock is now trading below those two.
What else is going on? How much money do they have left right now? How much are they spending on that phase two drill program? Will they be back to the market again later this year?
Probably a bunch of other questions are in order here later on in the conversation, which probably means it's time for me to finally shut up and Chris will give you the word here. But first of all, thank you for sitting down with us today.

**Christopher Pennimpede** (3:05)
Yeah, thanks for having me back again. It's great to be chatting with you again today, Antonio. Lots of change since you were last in Vancouver.

**Antonio** (3:14)
Yeah, I could tell that. It was funny when I said it's finally time for me to shut up. And Christian kind of smiled, so I guess I'll let him open the conversation.

**Christian** (3:24)
You did too much talking, Antonio, we're not here for that. Thanks for joining us, Chris. It's been a while since your last interview. It was January 2026
What have you been doing for investors since January?

**Christopher Pennimpede** (3:37)
Yeah, it's a good question, Christian. I didn't realize it had been that long, but really, January, we were preparing for the winter drill program. Then, end of January and all of February, March, and April, we were actively executing our winter drill programs at both the Buckins Project and the Wilding Gold Project, adjoining the Valentine Mine there in Central Newfoundland.
I thought it'd be good to come on today and talk through the results. At least of the Buckins drill program, we're still waiting on the Wilding Gold drill program results.
And show how the winter drill results at Buckins will ultimately lead to resource growth at that former Tier 1 mine in the future for Canterra. And so that's really what I wanted to come on and speak to today, is really the winter drill program results. And then, as Antonio mentioned, you know, embarking on phase 2 drilling imminently in central Newfoundland.