welcome to CEO insights I'm Marilyn dezman with investing news.com I'm speaking with Bruce Lane executive director of GTI energy hi Bruce um well let's start let's start a conversation which just sort of uh uh highlights U you know the you ium Market that's been happening um and your take on what's going on in the market The Soaring price and the soaring prices and what traction you're seeing from investors as a result yeah look there's a lot of people commentating about


what's happening in the radian market and I guess it's kind of obvious that we've gone from $50 or $60 up to 100 or around 100 in a very short space of time and so yeah that's obviously very encouraging for the company and um we're also seeing term price Rising although obviously it's not so transparent um so those are all obviously really important and supportive things for the company I think the sort of projects that we're working on um you know around sort of $65 $70 they make really good money so


you know it's great if it goes higher um it probably doesn't need to go higher from a fundamentals point of view for us so we try not to get too tied up in what happening in the market but obviously you know it is it is important that that's happening and it is very positive are you seeing investor Traction in terms of like investing in in in resource uh in the resource sector and Mining sector uh the answer is yes and that's a qualified yes I think you know we're an ax listed company most of our


investors are in Australia we do have investors in Southeast Asia and North America as well but uh particularly the retail investors have been a little slow to get get back on board with the uranium thing and I think it went really well in that period in January when the spot price went above $100 and it's only come off a few dollars but the investor sentiment seems to have been cautious um since then so I think they're still waiting for something else but certainly on the institutional and the smart money side


the people who really understand what's going on on the market yeah there's a lot there's a lot of interest and um and we're getting traction you know because we've got we've got pounds in the ground and we've got you know we've got that credibility that we're not just an Explorer we're a resource developer so we are seeing uh quite a lot of interest yes let's talk about your projects your projects in Wyoming and Utah what are the sort of overview why make what makes


uh these projects compelling and what progress have you made on those yeah look we've got um uh two main areas in Wyoming and we've got some some projects in in Utah so the Utah projects are conventional projects urum vadium and we've really sequenced Those Behind the insitu recovery uranium projects in Wyoming and of the two project areas in Wyoming our lead project is our Low herma Project that's about 10 Mi away from cod's Smith Ranch Highland and uh we have a database a historical database


we used to create a resource last year so it's 880 holes already within the land package that we were able to use to create a current jaw compliant inferred resource of 5.7 1 million now we think that to replace that to recreate that drilling would cost us well an excess of $10 million probably closer to 15 and we think it would probably take us you know at least three years probably through the cycle to be able to do that so we were able to do that in the space of about 6 months so we think that's really


put us ahead of the game there uh and so we've got uh we we we achieved a lot last year during 2023 we started the year with no no resource and we finished the year with uh a little over7 million of inferred resources because we also put a resource out on our Great Divide Basin Projects so having that as a kind of starting point if you like at the start of 2024 what we're able to do is then uh we did a bit of drilling at the end of last year just to validate that historical data uh and that was very


successful and helped us to understand some of the opportunities and exporation both at depth and along along Trend uh and so this year we're looking to drill in July um and we drill a larger program and look to um upgrade the total amount of resource but also bring some of the resource into indicated category and get us set up for a for a feasibility or pref feasibility or a paa study uh and so that's that's our Focus for this year if we can also drill on our Green Mountain project um we we might do that


we're permitting a program there we did a g physics survey last year we've got about 12 miles of of of uranium mineralized Trend and some historical drilling so there is a real opportunity there but our focus is you know very much on low hermer and to accelerate progress with that and we think what that does is sets us apart from um the other earlier stage companies in in in Wyoming there's there's really no one out there that has a resource at our stage it's quite a few starting their


exploration Journey uh but we think we're well in advance of that and uh so there's we're we then we're the only ones that we call we call a resource developer that sits between the producers and the Explorers um so we're really looking forward to getting some more holes of it and um and upgrading it and and expanding it I'd like you to talk about briefly about insor recovery which we mentioned earlier there's a lot of um you know positive uh feedback about this process could you for for


investors that are not too familiar with it could you just provide sort of sort an overview of what that is and what makes makes it a compelling uh proposition I I guess there's a there's a couple of um uh obvious reasons for it to be um compelling one is on the cost side uh because the process doesn't involve digging the Earth up um you're drilling holes in the ground and then using a leech solution within the Subterranean or body to Li to liberate the uranium and then into into into into


groundw and then it's lifted to the surface process the uranium's taken out the water's treated cleaned and put back into the ground so we're not shifting uh dirt the the leech solution does all the hard work a slow kinetic leech underground so the the two parts of that that are really compelling out one is it's cheap because it doesn't you're not shifting all those tons you're not using diesel to shift those tons um and you're not disturbing the ground to any great


extent at all it's a very light touch mining it's this almost kind of the perfect kind of mining so from an ESG or a or a or a sustainability point of view it's an excellent story um but it's also an excellent story from a cost so low capex um and then also the operational cost is low because you only need a small number of people to run what is much more like a water treatment plant than a mining plant so there's um a lot of compelling reasons to to to be uh to be looking at


that as a style of Mining and especially if you're using an alkaline leech um because the alkaline Le doesn't liberate tends not to liberate um heavy metals and other things into the into the water so it's a it's a really clean process it's really oxygen and and and and carbon dioxide or or baking soda effectively so um yes so we love it um the geology has to be right um and the hydro geotechnical setting has to be right um You need grade and thickness you need you know good thickness um and


good permeability and there's a few other technical things but um if the project is amable it's an excellent way to mind we certainly believe it is in way so we're here at pdac uh you know you're speaking to investors and you've done a good job in sort of um providing an overview of your company and your projects and the prospects you're talking to an investor how would you summarize you know GTI energy and why your company is a compelling investment opportunity at this time yeah look I


think um as I said before our our project sits between the explorers and the producers um and what is really interesting about Wyoming is you know the uranium industry in the US has has really been on its knees for a long time and it's just coming back to life Ur energy which is producing now is uh about 15 mil away from our Thor project in The Great Divide Basin um and they are considering moving on with the Shirley Basin uh Inu satellite project which is around 8 8.8 million pound uh and as I said before I


think also that we're about 10 miles away from cam CO's Smith Ranch H and that's the largest permitted Inu recovery facility in the US and then we're just down the road like 40 mi from Energy Fuels and from ueec now ueec have said they're going to get back into into into production in August of this year and then we're about 100 miles from where Peninsular energy is and they've they they're targeting production at the end of the year um probably around December and they were also about maybe


100 110 mil from encore's Dewey beroch and we're we're not far from their gas Hills um project as well so we have these major players around us who are all either getting back into back in production and ramping up while they're getting back into production and so what we're looking at is a scenario where those producers are looking for long-term um Supply to their Mills to service long-term uranium contracts for you for us utilities so we fit into that really nicely we don't believe there's


anybody else who's Advanced on the exporation side as we are we also think I think we're our um our value is is attractive at the moment we have uh seven over 7 million pounds of uh of uranium and at the moment our market cap in US dollars is probably around $10 million um so you know we're we're getting valued at not much more than a dollar a pound for a product that now is arguably worth closer to $100 than it is to $50 so the insitu value of the pounds that we have in the ground at the moment


um at 7 million is you know we it's kind of $700 Million worth of product and you know it's it's kind of hard to reconcile why why um why why we're so cheap so we think there's an opportunity for investors to get involved now because we we believe that um we'll get a reating over the course of the next you know months and and years and that's what we believe now it's not investment advice we're not telling anyone but you know we think we're in a good spot and uh and we


I think it's a good story right well thanks Bruce for taking the time and speaking with me today great thanks Marland it's enjoyable to talk thanks and thanks everyone for watching join us again next time for another engaging conversation on CEO Insight if you like this video make sure you subscribe to our Channel and turn on notifications so you don't miss future updates and interviews see you next [Music] time