Element79 Gold aims quick gold production and cash flow at its Lucero property in Peru

TL;DR

Element 79 Gold CEO talks about their gold projects in Nevada and Peru, highlighting the economic viability of mining in Peru and the potential of their assets.

Transcript

thank you in this episode of Inn CEO talks we're on site at the Vancouver resource investment conference and I'm joined by Tony maragakis the CEO of element 79 gold and we're talking about gold gold in Peru Canada a little bit and we're also going to touch on Nevada Tony welcome thanks for having me you've got some pretty interesting projects under... Read More

Key Insights

• 🤗 Element 79 Gold is focused on reimagining its Maverick Springs asset in Nevada as an open pit mine, increasing its economic viability.
• 👻 Peru offers attractive opportunities for mining, with a favorable mining regime that allows for quick small-scale production and access to substantial resources.
• 🙃 Lucero, Element 79 Gold's asset in Peru, has the potential for both production and exploration upside, making it a unique and compelling opportunity.
• 🔠 The company's strategy involves putting assets into production to generate cash flow and avoid dilutive capital raises.
• 🥺 Element 79 Gold believes that focusing on producing mines in Peru will lead to higher valuations and provide a compelling case for investors.
• 📼 In the near future, the company plans to trim down its asset portfolio and explore JV partnerships or sales of non-core assets.
• 😤 Changes to the management team are expected to enhance Element 79 Gold's credibility as an operator.

Questions & Answers

Q: What are Element 79 Gold's assets in Nevada?

Element 79 Gold's largest asset in Nevada is Maverick Springs, which has a 3.71 million ounce gold equivalent resource. They plan to reimagine it as an open pit mine to increase its economic viability.

Q: Why has Element 79 Gold turned its attention to Peru?

Peru is an attractive jurisdiction for mining due to its large resources and favorable mining regime, which allows for quick small-scale production. Element 79 Gold sees the opportunity to quickly generate cash flow and expand their resource in Peru.

Q: What is the potential of the Lucero asset in Peru?

Lucero, previously known as Sheila, is a rich asset with a gold equivalent grade of 19 grams per ton. It was a producing mine with 150 tons per day and can be put back into production easily. There is also exploration upside and the possibility of finding a porphyry deposit.

Q: What are Element 79 Gold's long-term plans for Peru?

Element 79 Gold aims to put Lucero into small-scale production and expand the resource. They also plan to expand their footprint in Peru and potentially look for partners if they discover a large porphyry deposit. They see Peru as a stepping stone to generate cash flow and control their own destiny.

Summary & Key Takeaways

• Element 79 Gold has acquired a portfolio of properties in Nevada, including Maverick Springs, an asset with a 3.71 million ounce gold equivalent resource, which they plan to reimagine as an open pit mine.

• The CEO also discusses their focus on Peru, a jurisdiction with large resources and a favorable mining regime that allows for quick small-scale production.

• In Peru, Element 79 Gold acquired the Lucero asset, a previously producing mine with a rich gold equivalent grade of 19 grams per ton, and they aim to put it back into production and expand the resource.