Multiple Porphyries in Kazakhstan, But Can They Prove Continuity? | Arras Minerals Interview

**Antonio** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today on the CEO BBQ Advanced Stage Gold and Copper Exploration in Kazakhstan, together with Arras 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 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, this is not Arras' first time on the CEO BBQ, so if it's your first time hearing about the company, I'm going to post a link to a playlist that's going to contain all the previous interviews that I've done, as well as my site visit. If you want to see what it's actually on the ground in Kazakhstan, I went there, did a long documentary on it, and it's in that map as well that you can go and watch. In a nutshell, though, Arras Minerals' flagship asset is the Elemis Project in northeastern Kazakhstan, in the Pavlodar region more specifically, and it's sitting on a mineralized trend that runs parallel to the operating Bozhikol Copper and Gold mine that's roughly 30 kilometers away, which I'm not going to stop showing off, by the way, because I went to see that one as well, though, just from afar, but I did see it.
The deposit style is a classic, pour-free, it's a copper-gold pour-free here with associated high-grade hydrothermal breaches, and drilling so far has outlined at least three centers along about a 10-kilometer strike length at Bereski North, Bereski Central, and Bereski East. Right now, there are four diamond drills turning on the ground, pushing on an expanded 40,000-meter program that they want to finish by the end of this year, and that's after they already completed more than 18,000 meters in 2026
There's also a 6,000-meter top of bedrock program that just finished in May, but only a handful of the 2026 holes and assays have been announced, with the most eye-catching one to date being a 936-meter apparent width interval from surface, averaging about 0.71% copper equivalent. That includes narrower high-grade breccia zones, which of course I'll be asking a lot about later on in the conversation. Now, for some of the numbers and a bit of the details, Arras is listed as ARK, so that's A-R-K on the TSX-V where the average three-month volume is about 350,000 units. Stock's 52-week high is $2.07 and its 52-week low is $0.53.
With a market cap of just under $215 million Canadian dollars and just under 145 million shares outstanding, today this is a $1.59 stock with a 50- and a 200-day moving average at respectively $1.41 and $0.92, which means that this is actually one of the few stocks in junior mining this summer that is now trading above both of those trend indicators. The last time they raised money was recently, it was last month, they brought in about $25 million Canadian dollars through the issuance of about 18 million common shares at $1.36. No warrants with that financing. As a matter of fact, there are no warrants outstanding now at all from prior financing either, and there are only about 3.7 million options outstanding that's combined with the RSUs and DSUs.
All in all, right now, they've got about $31 million. Where's that money going to be going besides the 40,000 meter program? Because that program is not going to eat up all of it. One of those assays from that program coming in, those are all questions that will 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 Darren and Tim, I'll give you the word here. But first of all, thank you both for sitting down with me today.

**Darren Klinck** (4:08)
Great to be here, Antonio.

**Antonio** (4:12)
It's funny though, because it's 8 o'clock in the morning for you, Darren. It's 8 o'clock in the evening for you, Tim, and I'm somewhere in between. We'll see who's got the highest levels of energy here. Last time we sat down for an interview was, again, it was the three of us. It was in Vancouver earlier this year, at the beginning of the year, and then the time before that was again on the site. I think Darren, you and I spoke about the jurisdiction not too long ago, but this is our first long-form Zoom interview, really, at a distance. Let's maybe start off with the elephant in the room here, which is, is your stock price performance, as I mentioned in the interview, since both of those interviews, your stock price is up, but most notably since Vancouver, the stock is up to, well, actually, depending on from low to high, it's up like four times. It's about two times since I was talking to you in Vancouver though. Market cap is up even more since this financing now.