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 welcome to CEO insights I'm Marilyn de Gusman with investing news.com I'm speaking with Patrick Elliott president and CEO of for minerals hi Patrick how you doing good to have you thanks for having us really appreciate this yeah so um I guess the first question question for you um you have you know well positioned assets of copper and gold in Peru what took you to Peru well it was the um the untapped resources Peru got a really late start with expiration whereas other countries of South America have been heavily

stomped on by a lot of explorers and uh predecessors and whatnot but uh you know the the mineral belts uh of the Andes extend rate up into Peru and uh 20 05 we moved up into Peru opened up an office there and uh we had success right over of the gate we uh partnered on the zafrel project that Tech is now putting into production it's a pretty phenomenal uh porfy copper Molly story in um the bayy scene belt of Southern Peru so um yeah it's been about 20 years that we've been exploring with

with various companies but the models still remain the same whereby we deploy uh some pretty unique uh um Discovery and exploration techniques in order to you find high solidation and pord goer systems and we advance them and and um and sell them I think one of the most uh like the one interest uh investors in a company when they're looking at it is their team do you want to talk about as some of the uh people that's behind the leadership uh Team uh our club for Min rals yeah absolutely I mean uh we believe we have

uh the best exploration team in Peru it's uh over 215 years of combined uh perivan exploration efforts Manuel mtoo uh previously with with tech and and Kinko before that uh he's our exploration manager and general manager in Peru and he's made uh several discoveries um he understands the improvi and geology exceptionally well and uh and it goes beyond the technical assess we got a strong technical team but but what's really important in Peru is um the environmental the social engagement the um the permitting and and

managing all those uh you know within um you know the same team the geological team so what we've done there which is fairly unique for juniors we brought inh house uh social efforts and environmental efforts so so we have a dedicated social team that work on um various properties to help move them forward and and and drive the the perming and the relationships and and you know that overall commitment to to ESG and and sustainability and um you know developing those relationships with the communities it's very important in

Peru the perming takes a uh you know can take several years and um it's uh it's important to be efficient and and to have uh you know an adequate uh outcome mhm so now you know let's talk about the Fairly fresh news that you just released and that's the acquisition of two new projects in in in uh in Peru could you uh provide some information some of the highlights of that uh acquisition well yeah I mean alter we we announced uh this news um this morning um it's uh a highly sought after project this is a a project

that um was staked in competition with several other major mining companies previous to that it was uh it was drilled many years uh in the late 90s it was drilled by buen Ventura and and you can see the the first hole had phenomenal gold results 131 M of 2.55 G from surface um you know this includes 54 M of 5.4 G from surface so you know fairly phenomenal grades and a high solidation system but uh this one's special it's it was highly sought after it took us about 10 years to uh negotiate deal with with um uh you know

an outcome and um we're happy to to report that we have 100% of this project moving forward we acquired it from our strategic project generator that um has a a a maj your interest in Forte um Equity so those shareholders will realize the value in it and um and we only paid $25,000 and then then people look at it and like well that seems awfully cheap how did you get such a good property for 25 Grand it's it's because that's what our our partner spent on the project and that's what we

contributed back to them they'll realize the value within their share Holdings of forte so uh really good deal to to have that we left uh uh 1% % NSR on the table for uh H shouts and that was uh um you know done with their their subsidiar so this Ultra Rory project is 15 kilomet south of Barracks Pina mine Barracks uh they've mined you know over 8 million ounces out of there it was a substantial deposit discovered by David LOL and Katherine McLoud Seltzer through air keeper resources back in the 9s and if

we recall this is like 25 years ago now but but Barrett paid 1.1 million Canadian dollars for air keeper resources for this project um it's tier one uh Discovery at at the time and it's uh you know been been an production for about 20 years so Bar's had some phenomenal relationships in the community done you know great work uh great operator there so we're looking forward to working with the people so the SEC there there's two property that are associated with its acquisition

could you talk a bit more about the squo the second one yeah certainly it's it's important that uh was 4,700 hectares that we now control uh under this new acquisition but beyond the High sulfidation um that thermal gold project that we just discussed with those incredible intercepts there's also a poery copper uh gold system no certainly it's um an exceptional land package of 4,700 hectares um I've told you about this high sulfidation with Incredible gold uh intercept from the first

hole lots more work to be done there to help Define a uh a a gold resource but um off to a really good start there's also a poery gold copper Molly system that that Anglo explored you'll see in the press release um they drove five holes into this in 2004 uh the best uh hole was 200 M of .5 g gold and 0.1 copper so it's it's a classic pory it's about 3 to 4 kilm away from from this so we'll be working both the poery gold copper and the high solvation gold project here so really uh

truly a a a phenomenal acquisition I I need to commend our partners at Globe Jers for persevering through uh you know this 10-year period to to be able to come out on top and and acquire this for us and um we uh we're excited to have uh you know historically drilled and discovered and now you know have deris the the expiration risk for our shareholders you've made up a good point about acquiring properties at a at a significantly low cost could you talk about some of your strategies and how

you've been Su successful in in doing these uh uh strategy certainly yeah it's uh you know roughly 20 years that that we've been in in the country and and um there's low times and High Times in these cycles and and really you know through the the the low Market times we thrive on on um property acquisition deals negotiating because um it's usually around a time where other companies are relinquishing properties a lot of the majors go through um these periods whereby expiration gets the first cut and so you

might relinquish some or all of their expiration assets and and sometimes they teams and so we uh we remain very flexible uh to be able to to pick properties up for for nothing sometimes we stake them in competition after they're dropped or uh you know properties that we've we've previously worked on um with tech or Anglo or others that uh certainly come available at you know and these take years and years for for these types of uh opportunities to happen but um when you can act quick and and uh be on to it

when they get dropped if there is opportunity to pick them up but our predominantly our model is is discovering through remote sensate we've made U five or six uh remote sensing discoveries from space using satellite image data uh data and Peru works really well it's it's a phenomenal place to deploy this technique because there's not a whole lot of vegetation cover in the end s so the argic and filic alteration that you see through the assers um lights up like a Christmas tree and it it comes down to how you

massage and filter the data and and Richard Osman our our G geophysic and director of forte um he developed um the uh a program for Ango and and um that's is essentially why we we started in 2008 in Peru with with this uh with this model and so there's been a lot of really interesting projects that have generated of this the challenge is logistics uh remoteness and and just finding the time and the team to go in and follow up on hundreds and hundreds of anomalies that we've depicted um and

highlighted so we prioritize them and you know maybe in a year we might get to 10 or 12 new ones but it t takes a while to follow up on them but uh it's a phenomenal way to to acquire properties for for nothing and forsaking and um you know uh it's also why we we spent 15 years do doing this model and now you know at the right time to spin out these properties out the go CHS take Forte public we we're ready to drill them and um as you can see today we made a pretty phenomenal acquisition on this gold

thing that you know it has taking about 10 years to to uncover so it's a combination of all these things um you know a testament to our team and it's not just technical we brought in Ricardo labo was the ex Vice minister of Mines he's one of my advisers he works with our our group of companies he's been integral with our permitting our uh social strategy not only like uh the Pol political uh advisory but also um you know an ESG advisory as well uh Tom Hendrickson who's very well known and in

the country he's made five discoveries there he's an adviser rich Richard Osman I mentioned um you know it's just it's the team goes on but but more importantly I brought on a lead energy adviser on estg um a gentleman that I I went to undergraduate school with that's uh spent a lot of time working for Canadian Solar and one of their main focuses was bringing electrifying and bringing solar power to small communities that that needed it and didn't have it so we're working on some

programs right now with the Canadian government to attract capital in order to um Supply backup or primary power through solar to small communities in Peru and uh it's quite an exciting project that that I've never been involved in and not many Juniors would get involved in but we have um you know the skill set and and some of the um you know human resource human resource in order to do that with with Mike Carter's contacts so your team have done a tremendous job in you know acquiring

assets copper and gold um are there are other um assets that you're focusing on can you tell me about uh some of that as well right so we have two never been drilled projects that we talked about that we've received the DIA drill permits for one's a pfy CER Molly aspiran in the paleen Bel of Southern Peru this is like elephant country where some of the world's biggest copper mines are and fortunately you know Peru is the number two producer of copper in the world and so many more deposits remain

to be found and developed so it's a very good place to be and the other one is that high sulfidation uh gold in in puno called bukini so those will get drilled this year and one of our other historically uh drilled uh discovered for freeze is up in Northern Peru copper belt and we have an option to earn 60% interest on this with uh Ulta copper it's a a tremendous pfy copper gold system that was drilled by buen Ventura and Newan back in the 90s and you know when I mentioned those companies you

think gold right then and in fact they were looking for gold in the 9s and the grades were too low and and it turned out to be a a PO Frey copper gold system that that we were looking at which was higher grade copper and and a byproduct uh gold credit as well so um this project has about 13 shallow holes in it uh you know like I said it was drilled in the '90s very very uh very long ago the government held it within their their archive and then it was it was sent out for auction but we we're lucky

to get a an option on this uh this property and we're working with the communities and and engaging with uh the um the DIA uh studies at this point to try and further that property around but um it uh it truly looks like uh you know it has the tonnage the grade in the size to be uh you know a a player in development in the P pit copper store in periz so uh quite a phenomenal project but just to wrap up there's two Dr historically drill projects that have helped drisk the the discovery um stage

and then two never been drilled uh a pyy and a high sulfidation that we plan on drilling this year so you know the story with Forte is just really getting going here it's waiting for drill permits and and then having the opportunity to get out there and prove to to the market and the investors and our shareholders that uh we would cons add significant value to them so we're here at pdac and you've done a great job in sort of uh providing some overview of your company and your assets if you're talking to an investor

today what makes uh Forte minerals a compelling investment opportunity at this time well that's a great question and um the reason really um why we got into this business was to we figured we had an edge a a unique technique in order to apply there plus with the team and the and the long tenure in the country we were recognized there's a lot that remains to be explored and discovered But ultimately there's a a big void in the pipeline copper projects that need to go into production and and

you've heard this time and time again that some of the world's bigger copper mins are coming off production or coming to the end of they useful my life mining lower grade ores and we're not seeing enough new development production stories come on stream so there's an inflection point that that's that's really hinging this this Supply demand curve that's going to be real we might see it sometime late next year or 2025 um but we don't know where where the copper is going to come from and

so it's simple our our strategy and model is to fuel pipeline projects for the mid tiers and Majors that they can take on into through feasibility into development and production and um and fill that void so it's it's exciting because um you the major copper producers and major copper they're hungry they recognize that they haven't been doing enough exploration when times were tough they got rid of their exploration projects and now they're scrambling to look for even earlier

stage uh exploration plays so that they they have that production profile in the future but we we'll see a lack of uh uh of copper uh production um you know for for 5 to 10 years before we catch up with it and so what is it that that puts outward pressure on copper price and and you know we're very bullish on gold too it's um you know kind of goes hand in hand in Peru and you know we're we're in a very compelling position to be able to uh um take advantage of of of of this this next Market uh well thanks Patrick

for taking the time and joining me today thank you 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