[Music] welcome ladies and gentlemen to commodity TV we are still in Zurich Denver gold forum is over but we are now at the aisco group dinner and we want to talk now for the first time to Matthew Savar who is the president of oiso mining welcome mat thanks for taking time thank you very much yeah fantastic uh that we can talk because it's quite a while uh when I interviewed oos Cisco mining I think two three years ago but I must say a lot of good things happened with your company and I just saw also that you guys connected the Hydro power line 85 kilometers with a 90 69,000 kilowatt uh 69,000 volt line which is fantastic isn't it it is fantastic we achieved that last January and what it does it reduce of course the greenhouse gas but it was done through a First Nation Corporation so it's one of the first time in Canada that it's been done the power line is own operate and uh has been financed uh to a First Nation Corporation wow and of course it uh it aligns uh interest with respect to social acceptability for the the windfall project MH yeah I could imagine that because uh it I would say sorts out a lot of problems uh sometimes you could have First Nations but you are partners and so everybody is benefiting so you have a win-win situation absolutely and on top of it uh it's clean energy because it's Hydro power and people might not realize but right now in Quebec uh because of the cheap uh cost of power uh there's a shortage because of the the high demand on energy so uh to get first the energy block secured and then the power line it's uh it's quite a milestone for the project mhm fantastic so we can use that now for the camp already and I think you are also bringing down the ramp into the underground right we do have an exploration ramp uh on on which we perform a three bulk sample we on also on the process of performing a for bulk sample and of course the the power is also used for the underground uh development so uh on top of it the the purpose for those bulk sample is basically to uh compare the resource estimation model uh to reality uh which we did three times successfully uh we basically Al achieve positive reconciliation of the Tre bul sample 126% 189% and 165% which is uh tremendous which should show uh up once in production we expect to have higher grade than what we see in the uh the number from the visibility study okay super um you have under project level gold Fields as a 5050 partner and I think this secured you that deal secured you also really tremendous amount of money so for me it looks like that you are on the fast uh highway to production yeah that's correct last may we concluded a 5050 uh agreement with gold Fields uh for which they they pay us $634 million in two payment so we already received 334 million we'll receive the uh second trench of the 300 million on permit on permit delivery uh probably expecting first quarter of 2025 that's F and what it does you you're exactly right we are fully financed for or port or 50% uh portion of the build uh so basically that's a huge milestone as well because it there significantly the uh the company on that on that front yeah of course you will not not have any future dilution now that's the idea important for the shareholders I would say that's the idea yeah okay then um your path to production can you describe this a little bit more in detail um when do you think production could start what is still missing or not missing or maybe things are going better than expected yeah so right now we are in the middle of the permitting process we expect to receive permits uh by probably first quarter of 25 that will allow us to start this Construction in the second quarter of 2025 and that should lead us to a first GOP second half of 2026 so it's really fast happening in terms of production profile we expect to uh produce for the the full windfall project 200 300,000 ounces a year uh but there's some upside there because as I mentioned regarding the positive reconciliation so right now uh it's these numbers stands for 3,400 tons a day operation um the grade they have at grade right now is 8.1 gram for the reserve component but if you believe that we'll be successful in increasing the grade because of what we've seen in the bul samples uh probably one gram in excess for example will produce uh four 40,000 ounces in excess per year of course we'll have 50% out of it so we should end up being a producer between 150 and 200,000 ounces a year for your share for our share and uh of course we we expect to have a rate based on that once in production yeah absolutely can you say something to the anticipated aisc just roughly I know forward-looking statement but where where do you see your production costs uh the the ASC was in the fees was $760 us which was on the low end that's really and uh if the the the project produce what we expected to produce it should uh get the the the cost of production down and and and today's gold price and margin would be quite significant I just wanted to say that that's like almost yeah 1,600 dollar March then PX yeah that's that's quite amazing it is really amazing what are we going to do with the money I mean that's that's a good question but the the the deal that as we structure it gave us a lot of optionality we could grow organically the the windfall mining group on which the uh the windfall asset is right now or we could buy back shares as as simple as as that or we could do nothing as well or we could grow a Cisco component but we'll have a lot of optionality and that's what's important to to realize yeah super um Also let's talk about some other upside um what else could we expect from your company I think you have that 70% earn in with pona is that something for the future which might also yeah so that that's something we we were looking at for the uh the exploration ground perspective we signed the earning agreement uh last December and basically what it does is we could acquire up to 70% of the ground 600 uh 600 claims roughly south of uh windfall but it's an it's it's actually in the extension of the deposit along the M the major fall hosting the deposit and when we did the due diligence we realized that the uh the same geology the same type of mization were highlighted there so right now we got the five rigs turning in in that area and it could be uh you know quite successful but we don't know yet we just started in in early January so but so far we're we're happy with the the type of rock and the geology but as you know it takes sometimes a few months to to have a clearer view on on what it is yeah and uh of course that we we should earn in uh over the next three years it's 30 30 million that we need to spend in Exploration expenditure for the next three years and you have the money we do have the money yeah yeah super fantastic especially when you really can start 2026 production I mean then you have a constant cash flow yeah so it might be a second mind I mean uh we we don't we don't believe speculate a bit we don't believe all things been equal uh for what we know in these uh these mines are located in volcanic belts uh 3 million years old roughly and they they never come alone so we don't believe wifall is a singularity in fact that would be quite suspicious if it was and uh of course we believe that over time that it's going to become a mining district and winfall is probably the just the first one uh to come to light fantastic that's a super final statement thank you very much for your time and uh yeah my feeling is you did everything right you have the money to execute and in two years you're on production absolutely I like the game plan all right thank you very much Matthew thank you very much yeah ladies and gentlemen that was mat Saar the president of oiso Mining and you heard it things are in perfect shape um sometimes you hear okay oh they have given up 50% of the project but I think it was the absolutely wise decision in this type of Market uh what what they have in uh what they have been in and now they are fully financed they have exess Capital they can do much much more around it and as uh as he said first windfall there may be second third or fourth windfall we will see in the future but this is exactly the upside we want to see and honestly in approximately two years there will be in production making money making cash flow and you heard it $760 per ounce maybe less that is a real fantastic Ai Se so you should check out the company thanks for watching us and bye-bye from zerich
