New Discovery at Historic Mine, But Can They Restart Production? | Selkirk Copper CEO Interview

**SPEAKER_1** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today on CEO BBQ, restarting a copper gold mine in the Yukon, together with Selkirk Copper Mines. 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 actually not Selkirk's first time on the CEO BBQ. Colin joined me for an introduction interview about six or seven months ago. So if it's your first time hearing about the company, I'm going to post a link to that previous interview in the description of this one. Please watch that first as it contained your basic smell test, the basic grilling and all that, which we're not going to repeat here today. This is mostly going to be an update on drill results, timing, money and the expectation for the next couple of months. In a nutshell though, Selkirk's flagship is a past producing Minto Copper, Gold and Silver project in Central Yukon. It's roughly 240 kilometers northwest of Whitehorse. The deposit is made up of high-grade Copper, Gold, Silver lenses that are hosted in Granite Diorite with a style that combines porphyry mineralization and structural controls that have historically produced high-grade zones. There are also some new discoveries of new high-grade zones, which we're going to discuss in this episode as well. Most recent resource estimate is from April of last year. It showed 12.6 million tons indicated and 23.7 million tons of inferred, with Copper making up the large majority of the contained metal value.
This might change soon though, because they've now taken full operational responsibility for the site. They're running a second phase of drilling, so another 50,000 meters, and that's 50, so five zero, while also running trade-off studies and engineering work to support updated mine planning. The phase one program was just over 52,000 meters. That's wrapped up earlier this year and delivered again, a series of new high-grade intercepts across multiple zones, including extensions at depth and also previously unrecognized lenses that are near existing workings, which of course, again, I'll be asking about later on in the conversation. An updated resource estimate and a PEA are kind of the key near-term deliverables and catalysts here, and they're targeted for later this year, which of course, timing will be part of the conversation as well. Selkirk is listed as SCMI on the TSX-V, where the average volume over the last three months is up a lot. Actually, it's about a half a million shares on the venture alone. 52-week high is $2.24, 52-week low is $0.18.
With a market cap of just under $218 million Canadian dollars and just over 131 million shares outstanding today, this is a $1.66 stock. The most recent financing was done on April 30 This year, they raised roughly $35 million.
It was an upsized bot deal consisting of, call it, 24 million common shares at $1.15.
It was also 4.5 million flow-through shares at $1.70, with no warrants attached to the offering at all. How much of that money do they still have left? How much of it will they need for the rest of this year? And is this the last financing before the Minto mine has come commands production? Those are all questions that I'll be asking about later on in the conversation. But for this to actually become a conversation though, I will unfortunately have to shut up already and call and I'll give you the word. But first of all, thank you for sitting down with me today.

**Colin** (4:07)
It's an absolute pleasure. And thank you for the summary history.
You've hit many of the high points, so I appreciate it.

**SPEAKER_1** (4:14)
A pleasure is mine. I am looking forward to learning more about these high points there. It's been too long really since we last sat down, so we definitely do an update. Your stock actually was 44 cents last time we spoke and it's about $1.60 now, as I said, 166 So it's up almost four times since they were about four times, which is great.