Verdera Energy (TSXV:V) - Historical Data Edge in New Mexico Uranium

Janet Lee-Sheriff (0:00)

My name is Janet Lee-Sheriff. I am the Chief Executive Officer of Verdera Energy Corp. We are a publicly traded company focused on in situ recovery Uranium assets in the state of New Mexico. We trade on the TSX-B under the symbol B, and we're also on the OTC-VUE-CF.

Crux Investor (0:18)

John, how are you?

Janet Lee-Sheriff (0:19)

Hey, Matt.

Crux Investor (0:20)

I was seeing you say Tonopah.

Janet Lee-Sheriff (0:22)

I know.

Crux Investor (0:22)

Don't you remember Tonopah?

Janet Lee-Sheriff (0:23)

It was 105, I can't forget.

Crux Investor (0:25)

Yeah, yeah, very different. Very different indeed.

Janet Lee-Sheriff (0:28)

I could see you.

Crux Investor (0:29)

Could see you. So you've been telling your story up here at Beaver Creek?

Janet Lee-Sheriff (0:33)

A little bit, yeah. It's been wonderful. Great responses from people.

A lot of people very shocked at our market cap versus our pounds in the ground.

Crux Investor (0:44)

I'm sure we're going to do something about that. We're going to talk about how. And maybe remind people, what does the package look like right now?

Janet Lee-Sheriff (0:50)

Yeah, we have 400 square miles of mineral rights across the state of New Mexico for projects with about 90 million pounds of mostly historic resources. We do have a modern day technical report on Crownpoint. And we have about 90% of all the historic data ever produced in the state of New Mexico for uranium.

And a healthy treasury with about 23 million Canadian in the bank. Right.

Crux Investor (1:17)

Okay. And I guess the next question is, what do you do with all that data? How are you interpreting things?

Janet Lee-Sheriff (1:22)

It's big.

We, when we acquired the assets from enCore Energy, it came with the URI database, which was Uranium Resources, historically very active in the state. We also purchased the Kermike database. And we've combined them into a very large warehouse type office in Durango, Colorado. And we have a staff now working through scanning everything and pulling all the information together. We recently just announced the sale of Treeline property, which has about a million pounds of historic resources. EnCore asset, sold it for cash and stock. And we see a lot more of that type of opportunity coming. But the real reason that we bought the asset, bought the data, was for our own projects. And to further that, we're working on a 43-101 at West Largo. We found all the original drill logs. So we've spent the past two months scanning those to get those into the 43-101 technical report.

We have about 250,000 drill hole logs and binders of tracking every drill hole ever drilled in New Mexico.

Crux Investor (2:34)

So let me make sure people understand what the opportunity is. Are we talking hard rock, ISR?

Janet Lee-Sheriff (2:39)

ISR only.

Crux Investor (2:40)

ISR only, 100%? Okay, so you guys know what you're doing that, because obviously Encore are a 15% shareholder as well?

Janet Lee-Sheriff (2:47)

They are. So the transaction, there was 50 million shares. Encore is distributing 35 million shares and keeping a 15% to hold in the company. So they're the technical experts on production. They spun it out because they wanted to have the ability to focus the company on permitting and social licensing. So with that, we've been working on the social licensee even before I became the CEO of Verdera.

I was in the community working there with another company and then forming the Trade Association on ISR.

Crux Investor (3:17)

Okay, and I'm going to come back to that one. So obviously, Encore is just for folks who don't know, one of the very few producers of ISR Uranium in the US. They can technically, they can solve for most problems, I suspect.

Janet Lee-Sheriff (3:31)

Yes. Just want to be clear on that one. I'm pretty good with them.

Crux Investor (3:34)

You're pretty good with them.

Let's talk about what you think this can be. Obviously, 90 million pounds sounds like a lot, but you got to do something with that. How does it break down?

Janet Lee-Sheriff (3:48)

I think the best place to start is talking about what the benefit is of the state of New Mexico. It's a completely under-overlooked region that historically was the seventh largest producing region in the world.

US was completely independent as late as 1986 for the production of uranium, for its nuclear assets in the country and energy. And it just fell out of everybody's attention when all the conventional mines closed. There was legacy issues. There was people in the community that didn't want to see uranium going forward. That's changing now. And they also have realized that they have 500 million pounds in the state that they know of.