New Gold Projects in Sweden + Porphyries in Peru, But Can They Work Both? | Hannan Metals Interview

**SPEAKER_1** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today, we're going to CEO BBQ, Early Stage Copper and Gold Exploration in Peru, as well as Sweden, together with Hannan 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, theresourcetalks.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, Hannan Metals got a few projects, but their flagship project is still in Peru, and it's actually a flagship target that's called Profisto. It's a copper-gold prospect inside a larger project called Valiente.
Valiente project is located in the high jungle of Central Peru's Eastern Cordillera back arc. This is an alkane or an alkylene epithermal porphyry-gold copper system, which they first identified through its own greenfields staking and prospecting. All the way back in 2021, the flagship target has not been drilled yet, although they have drilled on this project.
I'll say a couple of words about that in a second. Right now, the team is running detailed soil sampling, geological mapping, entrenching at Profisto, that flagship target, while finalizing the environmental impact and assessment submission required before drilling can actually start. So they're currently waiting for the permits, and they're hoping those permits are going to come through so that drilling can happen in 2027, so next year. That's not it, though. Again, they have other projects. And actually, they just took out an option on three gold projects all the way out in Sweden and have already drilled them or drilled one of them. And actually, the nearest-term catalyst is not going to come from their flagship asset. It is going to come out of Sweden, and it's going to be assay results from the 7-hole 1,000-meter Maiden Diamond drill program, which just finished at T. I'm going to try my best not to butcher this, but Stavitrack?
Stavitrask? Stavitrask. I'll just call it Stavitrask. Pretty close. Probably butchering it anyways, but it's a Stavitrask gold project in Sweden, and those are expected within the next several weeks and potentially followed by another 1,000 meters if the numbers justify it, which is a big if, of course, but that's also going to be a big part of the discussion later today. Elsewhere in the portfolio, Hannan also did first pass drilling at the Bellen target, or how much, how should I say this, Zac?

**Zac Turschwell** (2:58)
I would say Bellen.

**SPEAKER_1** (2:59)
Bellen? Okay. Well, it's good that those are the only letters. If you add a couple of letters to it, then it gets a bit of a problem.
So yeah, the Bellen trend inside Valiante was drilled earlier this year and they're still integrating those results, though the focus has, it's clearly shifted to Provisto and of course, that's going to be a topic worth discussing on its own as well. Now for some of the numbers and a bit of the details here, Hannan is listed as HAN, so that's H-A-N on the TSX-V in Canada, where the average daily volume over the last three months has been about 75,000 units, 52-week high is $1.06, 52-week low is $0.46, with a little under 145 million shares outstanding in a $95.6 billion market cap today. This is a $0.66 stock with a 50 and a 208 moving average at 59.71 respectively, so the stock is now trading in between the two. There's some options outstanding, about 6 million of them, but no warrants though, so the dilutive securities really only represent about 4% of the 151 million fully diluted shares. The last time Hannan raised money was in December of last year via a non-brokered life offering that brought in just over $9, and that was done at $0.75.
How much of that $9 million, did I say $9, they brought in $9 million. So how much of that $9 million is left? What work does it buy them? Will they be back to the market before the drill program in Peru starts? Are all questions that I'll 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 I'll give you the word here, Zac, but first of all, thank you for sitting down with me today.