[music] This is the Investing News Network. I'm Georgia Williams and joining me today is Nicholas Campbell, CEO of Mayfair Gold Corp., which trades on the TSXV at ticker symbol MFG and on the OTCQX at MFGCF. Nice to see you, Nicholas. >> Thank you very much. I'm just going to I'm just going to let you guys know that we're actually listing on the New York Stock Exchange American tomorrow with the ticker mine. So the OTC will no longer be in effect tomorrow. >> Okay. And so it'll just be mine.


>> I love it. >> It's a wicked ticker. >> It is a wicked ticker. Um could you start with a little overview of Mayfair Gold Corp and what you guys do? >> Absolutely. So So Mayfair uh we're advancing the fangib gold project uh in the Timbons region of Ontario. Uh it's a 4.3 million ounce indicated gold resource. I took over the company a year ago and uh my focus has been on trying to get the project uh into a stage where we can advance it into production during


the cold current gold cycle. So uh we put out a prefeasibility study a couple weeks ago. Uh we've outlined a a project that can be advanced through the provincial permitting process for us to get fully permanent in the next couple years uh to potentially get this into production by 2030. though uh it's a it's a robust project. There's a high-grade zone that we can focus on at the beginning of the mine life uh that allows us to capture some of the higher grade higher margin material early on


and it also allows us to get that producer rating uh within the next four years. Uh it's a similar kind of path to what I've done with the last two companies I was at. Before I was here, I was at Artemis Gold. Uh before I was at Artemis Gold, I was at Silver Crest Metals. Those are two companies that were successful at advancing development stage assets into production and they were pretty successful in the market too and so uh we're trying to apply the same approach to Mayfair Gold and the Fanggib


Gold project. >> Exciting. Um you recently released your PFS for the Fengib Gold project. Um can you tell us what's the most compelling um part of that? So for me, uh, there's a couple of things. We, so we could have done a much bigger PFS. It would have captured a much larger part of the resource. Uh, we focused on a 1 million ounce high-grade resource. It's high margin. It's higher grade. It's a high grade open pit to start. Uh, but what's really compelling about it for me is


really short peritting timeline. Uh, it's also not a huge capital cost number that you have to absorb. So it's 450 million in Canadian in total capital to get into production. And the payback on that is is very quick. So it's less than two years uh if you're looking at $4,500 gold regardless of $5,000 plus dollar gold. So it's a project that's very executable. Uh it's a project that's financable. Uh we have a team that can actually build this and and and operate it ourselves. Uh so we think we're we're


very unique uh in the gold space. Most companies try to focus on getting on putting out something that's big, right? We could have put out something that was big. It would have had a much bigger MPV. It would have had a much bigger much longer peritting timeline. It would have had a much bigger capital cost number. So, we want to get this into production. And we've put out a study that supports uh the the thesis that we can get this into production and focus on the high-grade portion of the


deposit. >> And in the PFS, you talk about the permitting process and how you're expediting it. How is that um coming about? So I I mean we're fortunate in that this is probably the best environment I've ever seen in Canada to permit a gold project, but we're particularly fortunate to be in Ontario. So Ontario has identified a one project, one process platform. Uh this is where because when you're going when you're permitting something through the provincial government, you're not


applying for a permit with the Ontario provincial government. you're applying for a permit with the Ministry of Environment, the Ministry of Minds, the Ministry of Natural Resources, the Ministry of Forest Forestry. So, there's all these ministries you have to engage with and you have to uh they'll ask you questions and they often ask you exactly the same questions which you then have to answer. And often when you're doing this, you're doing it in a sequence. And so that's why permitting can take can


take longer. So, they've identified this process it that's designed to have the permitting timeline for provincial for provincial projects. Uh currently it's about a three-year permitting process without the 1P1P. So by getting into it, you should be able to get fully permitted within 18 months. So we've talked uh to the Ontario government and the individuals in charge of the 1P 1P process and they've given us some guidance in terms of what we need to do in order to get into that process and we


think we'll be able to get in there uh within the next six months. >> That's really exciting. >> Yeah. >> And uh what's next? >> So what's next? And I mentioned it at the beginning of this call, but um or this uh this this this talk this talk um we're uplisting to the NYC. So and and we we were very fortunate. So we actually tried to get gold because Bareric dropped the ticker gold. And I don't think we were the only company that put up their hand to get that


ticker. And then we saw that mine was available, which is quite frankly, I'm very surprised that it's still available as a ticker for a company like us. So, we're going to be trading on the NYC American tomorrow morning. It'll be the first day trading uh with the ticker mine. Uh so, that's exciting for us because uh quite frankly, there's just a much broader investor audience in the US than there is in Canada. And when you're listed on the OTC, it it creates some hurdles uh and some restrictions in


terms of who can own your stock. So, that'll open up a whole new investor base and US capital markets opportunity uh for Mayfair Gold to to benefit from the advancement of Fengib. And so after that, uh, we're just as excited about, um, some drill results that we've been doing. So we we did some drilling on the property and we did the same kind of work at Artemis Gold. Uh, we we basically did advanced grade control drilling. And when Artemis bought the Blackwater project, there was some


skepticism that there was a high-grade zone they could focus on at the beginning of the mine life. We have a high-grade zone that we're focusing on and that high-grade lives within a 74 gram per ton or body. So, we wanted to show the market that the high-grade zone is there. We've done 56 drill holes into the high-rade zone and and it's designed to give us more data uh on on what the grade tenure is going to be like at the beginning of the mine life. So, that's also going to be very important for


project lending, getting a project loan facility in place. So, you should see those some of those results come out in February and we'll we'll have all those results out uh by the end of the first quarter. >> And I'd be remiss not to ask you about, you know, a $5,000 gold price. What does that do to your project optics? >> So, uh, so the reason the the rational behind how we've approached this has always been the first six years of the mine has the best grade, uh, on on on


the PFS that we put out. So, the first six years, you're averaging around 1.47 grand per ton and that and at spot, it generates more than 250 million in free cash flow year. So, we're about a $400 million market cap company. I think it's probably going to cost us around $250 million in additional equity to be fully funded to get this into production. And when you look at a project that in at spot market today would generate probably close to $1.6 billion over the first six years of the mine life, there


is an incredible revaluation opportunity just by us putting this asset into production and getting that revaluation as a producer. So, every gold, quite frankly, every gold project in the world should work at $5,000 gold. We just have a project that we can get into production during the current gold cycle. And that's how you get the best reate, the best value for shareholders is by bringing those free cash flows forward. >> Absolutely. Well, congratulations on the NYC American listing. Thank you.


>> And thank you for sharing the story of May for Gold with us today, Nicholas. >> Thank you. >> I'm Georgia Williams and this is the Investing News Network.