Croft on Pancontinental’s cobalt, copper and nickel deposits
“At our advanced stage McBride Project in southeastern Ontario, which is nickel-cobalt-copper, we have more than $700 million dollars in contained metal value based on a historic resource of 5.1 million tons…” States Layton Croft, President, CEO and Director of Pancontinental Resources Corporation (TSXV: PUC), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.
Tracy Weslosky: Layton your stock charts look phenomenal over the last year. It is my understanding you have an unusual containment number, containment volume, for your copper, nickel and cobalt. Can you talk to me about this please?
Layton Croft: At our advanced stage McBride Project in southeastern Ontario, which is nickel-cobalt-copper, we have more than $700 million dollars in contained metal value based on a historic resource of 5.1 million tons, which was defined in the sixties and seventies.
Tracy Weslosky: I understand this is really rare. Okay, we have a lot of investors out there that are going, containment volume, what is that? Can you explain this to us a little bit more because those numbers sound impressive, but what does this mean?
Layton Croft: I think what is rare for a junior exploration company of our size is to already have a deposit. In the case of the McBride Project it is actually two deposits. By contained metal value we are talking about the gross metal value. If you look at the amount of resources on a historic basis, pre-43-101 and the grades that were defined by the previous operator Long Lac Minerals, which was a very reputable company, and you do the math based on current market prices, that is where you come up with these numbers. Now the numbers are notional. They do not take into account recoverability and other factors, but they are very indicative of how much value is contained in the ground today. Again, for a junior exploration company it is very unusual.
Tracy Weslosky: Okay, but this is overall a very interesting junior company as well. It is very exceptional. You brought a team together that has done this before. Tell us a little bit about your team and what you plan on doing with Pancontinental.
Layton Croft: Right, Tracy. Over the past 6 months we have picked up two nickel-cobalt-copper projects in Ontario. In both cases we optioned them from two different companies. In both of those cases the people that we did the deals with are now the project managers on the ground. They are both very experienced exploration geologists who know these projects between 20 and 25 years. I think that is a very unique way to generate projects.
Tracy Weslosky: We love copper. We believe that is the top technology metal. We believe it deserves a lot more attention. But, let us talk about cobalt because cobalt, you know, the prices are through the roof, the demand is fantastic, but the stocks are kind of languishing right now. Tell us about your cobalt deposit and why with all the competitors out there we should look at Pancontinental before anybody else…to access the complete interview, click here
Disclaimer: Pancontinental Resources Corporation is an advertorial member of InvestorIntel Corp.