Questions for Auryn Resource or Osisko Metals – Please Send Them In!

March 6, 2019
    Mar 06, 2019 06:15 PM

    Hi Cory,

    For Auryn/Ivan

    It sounds like Auryn may be splitting its company/projects into two stocks. I heard from Ivan that Homestake and Committee Bay may become one company. With Peru projects into another. Can you get Ivan to expand on this?

    Financially it makes sense, but Ivan really hyped up his Peru portfolio. I’m very invested in it now and fear most people, including myself, may just instantly sell their Canadian project split off and double down on Peru.
    Second question. Auryn and their geologist have done an excellent job describing what they found so far in Sombrero. So I feel like I understand everything regarding the information they published. But recently Ivan released some trenching from a smaller claim they had, Milpoc, just south of their Sombrero Main claims. I’m curious on how Ivan is thinking about exploring their 120,000 HA going forward? Is the team going to go out looking for more bare exposed cliffs like Good Lucky, are they thinking about technology like drones? 120,000 HA is almost too much for one team to explore, so maybe they are just going to start with summer drill results and proceed from there?

    Thanks Cory

      Mar 07, 2019 07:03 AM

      Hi Cory,

      For Osisko Metals – I’d be curious to dig in a bit deeper on 2 areas.

      1) It would be good to get a review of the fundamentals for the Zinc/Lead market, as the price has only pulled back a bit, but most of the stocks (Trevali, Tinka, Vendetta, ZincX, Fireweed, Foran, Callinex etc…) have been hammered over the last year. Why is there such a disconnect in the metals pricing and the extreme pessimism in the Jr Producers, Developers, and Explorers?

      Is Glencore going to flood the market sometime soon, or is there some other huge source of supply coming online, because if anything supply is tightening and above ground stockpiles and Comex reserves seem to be quite low historically.

      2) I mentioned over a year ago, after Osisko Metals took over Pine Point (previously Darnley Bay) that after some investors got interested in that story, the overwhelming skeleton in the closet was discussing with the marketplace their plan for mitigating the water flooding in the mines.

      Yes, they mentioned there was a budget for this in their economic studies, and they mentioned many of their pits don’t have water issues, but there were some very public spats over at and stockhouse, from previous Zinc mining engineer & negative blog sits, that really put Darnely Bay under fire about the historic challenges with water, some of the reasons the mines were initially closed, and the hurtles any company would have to overcome and pay for if they wanted to really go after some of the best resources at Pine Point for Zinc.

      I’ve never heard Osisko Metals address this elephant in the room for all these interviews you’ve done with them on the KER and I’ve written about this several other times before.

      Until Osisko Metals really addresses the investing marketplace openly and candidly about their water issues, their reality, their plan forward, and how it will work….. then most retail investors just won’t pay attention to their exploration discoveries or news releases in my opinion (as an avid fan and investor of the Zinc Jr market and one that follows the limited buzz in this sector).

      If they address the 800 lb gorilla in the room so that investors know there is a real path forward, which I believe there is, then it would help their perception greatly.

        Mar 07, 2019 07:20 AM

        This was a great exploration hit from Osisko Metals, in their recent news release, and it should be garnering much more attention. Until they set the situation straight regarding the plan on the water mitigation, then many Zinc investors will stay away.

        It is sad to see great exploration work being mostly discarded due to a perception problem. While they may not like discussing the water, they should at least address it clearly, calmy, and publicly and talk through the concerns and reassure folks that they have a solid plan to address it and profit from the mines if put back into production.

        Osisko Metals Intersects 18.66% Zinc + Lead Over 20.73 Metres at Pine Point

        by @nasdaq on March 4, 2019

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    Mar 07, 2019 07:50 AM