Gold Price Hits New Highs (Uncut) 03-29-2025

Gold Price Hits New Highs – What’s Next ?

We are continuing with our coverage at the 10th annual Silver and Gold Reception here at the Ripley’s Aquarium in Toronto, where the PDAC is being held. It’s the largest mining event in the world. The night is sponsored by various companies, including Yukon Metals.

I’m with the CEO now. I love saying that, Rory Quinn. Rory, welcome to the show.

Thank you so much for having me. I say I love saying that because I’ve been at this for so long. And I met you when you were starting in the industry.

And to just see your career take off and now at the helm of Yukon Metals. And there is so much buzz surrounding your company. So congratulations, first and foremost.

Thank you so much. On your success. Thank you so much.

I mean, a big part of it is the people we’ve been able to attract to the company. Kaylee Gatton’s now Sue Craig joining the board. And so, yeah, we’ve just built a tremendous team.

Well, let’s talk a little bit about Yukon Metals. Like I said, there’s a lot of buzz surrounding your company, and we’re going to get to it. But you have three drill-ready programs in place, ready to go, right? So talk to us about the projects.

Right, absolutely. So first and foremost, Star River. So sequentially, I’ll kind of take you through the three programs.

So Star River, we’ll get going there in May. That is, we have bonanza-grade gold and silver there. We’ve done a lot of geophysical work on top of the prospecting work we’ve done.

So our highest concentration of silver grades are in one area. The highest grade gold we have is over 100 grams per tonne gold in the same area as this highest concentration of silver grades. Our biggest magnetic survey result is on top of that area.

And then our highest gravity that we did a gravity survey, over 800 metres, is right on top of where we have the biggest results from silver and gold from prospecting. So we really have a bullseye target at Star River. Wow.

I see there’s a lot of buzz. There’s been comparisons made with Snowline, because it’s a company owned by the same family, right? Can you tell us a little bit about the history there? Thank you for that. Yeah.

So a bit of a different story, but you’re right. So UConn Metals is a project of like 30 years of prospecting by the Berdahl family. And so they floated their primary gold assets at Snowline, which has obviously gone on to be tremendously successful.

And then the copper, gold, silver, lead, zinc, and critical metals assets, we floated as UConn Metals. Wow. And you got the call.

So Keith Neumeier, CEO of First Majestic, everyone knows Keith, wanted you to run this company. Tell us the backstory here. So Keith brought me in to close the deal, get the financing done, and get the deal closed and the listing done.

And so we brought in a tremendous group of shareholders. So Keith being front and center, owns just a hair under 10% of the company. Mark Wolverton is involved, and recently we’ve had someone like the caliber of Peter Brown buying out of the market.

Commodity Capital, Crescat, a who’s who of the senior brokers at Haywood. So really good group of folks to get involved in this kind of early stage project. Talk to me about the sentiment.

What’s the feedback you’re hearing from investors? I think excitement, excitement as far as drilling this season in just around the corner now, right? I mean, we’ve just put out news as far as Star River. We’re going to drill 4,000 meters into this outcropping area. We think we’re going to be drilling straight into silver veins, overlaying a gold-bearing mantle.

So we think we’ve got a shot of drilling into silver and gold on the same drill hole. And then at AZ, we have 3.5% copper outcropping six kilometers away from the Alaska Highway. So relative to Yukon, this is really important with both Star River and AZ, is that Star River is on an all-access road plowed by the government.

Today, we could drive there for five hours from Whitehorse Airport, and AZ is six kilometers away from the Alaska Highway. So you’re going to have proximity. What do you make of, look, like I said, you’ve been in the industry a long time, what do you make of this? As we’re speaking, who knows by the time the interview airs, gold could be up $3,000 an ounce.

So gold right now hovering around $3,000. Silver’s still stuck at around $30 here. What do you make of the price action you’re seeing? Well, I think the way I see it is some of the senior names are participating in this price, the pricing that we’re seeing.

If someone like Silver Wheaton or Wheaton Precious Metals, we know what their cost basis is, and if we see a gold price, we essentially know where their margin’s going to be. And so it takes a little bit of time for that to filter down to the mid-tiers and the juniors. But I think certainly there’s encouragement that if you’re able to demonstrate a new deposit, a new area that has every opportunity to be economic, you’re going to participate in this kind of environment.

Finally, next year at this time, what goals would you have liked to have seen the company accomplish? Like main things. Right. I mean, quite honestly, looking into the future, I think in June or July, we’re halting the market to talk about draw results.

First and foremost. I mean, we’ve got $7.5 million in the bank. We don’t need to raise money.

We’re in a superb situation. I sincerely believe in a few months from now, we will be halting the market to talk about draw results. We’re drilling into veins at surface.

It’s not blind. We’re not drilling through overburden. We’re drilling straight into veins, right to surface, right on roads that connect to Whitehorse.

Well, I wish you great success. You’re smiling, so I feel you know good things are coming. That’s true.

Okay. Right. Continued success for all of us.

Thank you so much, Daniella. And we will have more coverage coming your way, so be sure to stay tuned to the Daniella Comboni show here on ITM Trading. Thanks for watching.