New Porphyry Copper Target in BC, But Why Was it Abandoned? | North Valley Resources CEO Interview

**Antonio** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today on the CEO BBQ, early stage copper and gold exploration in British Columbia together with North Valley Resources. 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 not paid us for the production of this video, you should still understand that we are not financial advisers, 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, North Valley's flagship project is called Comstock, which funnily enough is nowhere near the Nevada Comstock, and it's actually, as I said earlier, in southern BC. It's a consolidated package of historical mineral showings, roughly 10 kilometers south of Merritt, right next to the, and I'm not trying to pronounce this correctly, but I probably will feel, but it's right next to the Coquihalla Highway in the Nicola Mining District. Previous operators here worked the ground on and off from the 20s through the late 80s, finding some high-grade surface samples and some shallow drill intercepts under a VMS model that ultimately didn't deliver scale, but it's something that will definitely be touching upon in the interview, partly because, as far as I understand it, VMS is no longer the main exploration thesis right now, and North Valley is hoping for a porphyry, or maybe an epithermal deposit, or maybe an epithermal overprinting of porphyry. Again, that's all stuff that we'll talk about, because they've used airborne geophysics and some spectral analysis on some rock samples to define an eight kilometer long corridor that's currently of interest. Though we're specifically on this thing that they want to drill, we'll be part of the questioning later on as well.
Now, for some of the numbers and a bit of the details, North Valley is listed as NVR on TSX-V in Canada, where the average daily volume of the last three months has been only about 3,000 units.
The 52 week high is 24 cents and a 52 week low is 3 cents. Before the current financing, which by the way hasn't closed yet, as far as I understand, and I'll say a word about a word or two maybe about that later on. But before the new shares have been added to the registry, the company now has a little under 18 million shares outstanding in a 3.6 million dollar market cap, making this a 20 cent stock with a 50 and a 200 day moving average at respectively 19.6 and 13.2 cents. So the stock is now trading right above those two.
There are 1.1 million options outstanding and 8.9 million warrants, which combined represent about 36% of the 28 million shares on a fully diluted basis. Again, that is before this current financing, and they're currently raising a maximum of $1.7 million in a combination of charity flow through at 22 cents, as well as some non-flow through units at 15 cents, and then an additional tranche of critical mineral flow through at 17 cents. Now, when is this financing closing? What will the money be spent on? What questions could this money answer? And when will they need to raise more money? Those are all going to be part of the conversation later on as well. But for this to actually become a conversation though, I will unfortunately have to shut up already in camera. I'll give you the word here. But first of all, thank you for sitting down with me today.

**Cameron Dorsey** (3:47)
Thanks, Antonio. Good to meet you.

**Antonio** (3:50)
Yeah, you as well. I am looking forward to the conversation. I got to say, you look exactly like your brother Malcolm, which is something we've never heard before. Malcolm is the CEO of Tor Meadows. It's another company that I've interviewed for people listening. I'm going to try my best not to make twin jokes here, although I might slip one or two here and there.

**Cameron Dorsey** (4:06)
Oh, they're welcome. Yeah.

**Antonio** (4:09)
Let's maybe set the stage here first before we do the actual smell test. What's the plan for NVR?