Titanium-Vanadium Discovery in Labrador, But Will The Metallurgy Work? | Saga Metals CEO Interview

**Antonio** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today on SEO BBQ, Titanium, Vanadium and Iron exploration in Labrador, together with SAGA 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, 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 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, SAGA Metals is essentially really a two-project discovery story now, but the asset that's carrying most of the valuation argument is the Radar Critical Minerals Projects located roughly 10 kilometers south of Cartwright in southeastern Labrador. Radar covers the Dykes River Intrusive Complex and it's a layered mafic intrusion hosting anodiferous, titanum, magnetite and ilmenide, which took me 17 minutes to practice, to say correctly. But this is basically bug tonnage, titanium, vanadium and iron system. As I mentioned at the beginning, they recently did some drilling on it. They completed a drill program of 22,000 meters at Trapper. They had 85 holes there and every one of the holes reported to have intersected oxide mineralization. Multiple of the assay intervals were even, tends to even more than 100 meters thick. There are still some assays outstanding, but those are expected here rather shortly after which the whole the assay database, the density work, the QA to QC, the geological model, all that is going to go to the resource estimation stage with the MRE expected in Q4 of this year and then a PEA in Q1 of next year, which of course I'll be asking some questions about later on.
Now, in parallel with all that drilling and then the resource estimate and all that, SAGA and TAMAS Resources, that's another public fee listed company, they intend to move the radar material into stage two bench optimization of the RCL processing route following the first stage tests, which they were positive, but they were rather variable on the titanium recovery, depending on the feed and all that. So I'm hoping for an update on that later on in the conversation as well.
That's not it, though, as I said, two project story here. There's a secondary asset in the SAGA portfolio, it's called Wolverine, it's about 50 kilometers west of Hope Dale, and it's 12 kilometers inland from the Labrador coast. They're now running the project's first diamond drill campaign up to 5,000 meters there, and the first two holes have already intersected the rare earth elements bearing volcanic sequence. The work really is aimed at confirming the geometry as well as extending the discovery, which is it goes back to 2025 They made a discovery there. It was an RC discovery, but they're also trying to collect proper mineralogical and metallurgical data ahead of a future maiden resource there as well. So hopefully a brief update on that later on in the conversation as well.
Now, there are other projects in the portfolio. There's other stuff going on, though none of them are really active and none of you really want to listen to me for another 10 minutes. So maybe I'll just ask for a brief update on them toward the end of this conversation.
For some of the numbers and a bit of the details here, SAGA Metals is listed as World SAGA. So it's SAGA on the TSX-V in Canada, where the average daily volume over the last three months has been about 160,000 units. The 52-week high is 98 cents and 52-week low is 25 cents. With 108 million shares outstanding and a $50 million market cap today, this is a 46-cent stock. There are about 3.2 million options outstanding as well as 31 million warrants, which collectively represent about 24% of the 142 million shares on a fully diluted basis. The last time they raised capital was very recently, actually in September, closing a $3.3 million financing at 55 cents. They did have a bigger financing back in May. And so how much money do they have left right now? What exactly are they gonna be spending it on? How much before we see a PEA? All those money questions, that's something that I'll be asking later on in the conversation as well. But for this to actually become a conversation though, I will have to shut up already. And Mike, I'll give you the word here, but first of all, thank you for sitting down with me today.