Matthew Gordon,
Ptolemy Capital
We're back with another interview with Salazar Resources, an Ecuadorian/Colombian exploration and project development company that offers investors exposure to Gold, Copper and Silver resources, and Copper-Zinc VMS deposits. This years Exploration is fully financed, courtesy of a JV with Adventus Mining Corp. Salazar Resources started the year with a share price of CAD$0.11 but has risen to CAD$0.21 today. The company has a market cap of CAD$26.56M. A common theme amongst smaller junior mining companies is the lack of a coherent business plan; it usually goes: we're going to acquire a licence, we're going to drill it, we're going to see if it's worth drilling further, then we're going to drill again. Salazar Resources has a refreshing approach. It has clear Business Plan, has structure a financing plan via a farm-out, consultancy fees and leasing of 3 fully owned drill rigs. They currently have c.$5M in the bank. With an additional recurring income and an extremely low G&A. Marr-Johnson says that their exploration programme for this year is consequently fully funded.
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16th January 2020 18 minute read
Interview with Merlin Marr-Johnson, Director of Salazar Resources (TSX-V: SRL). We really like this business model and we like Marr-Johnson. Both are smart. They have farmed out the first copper-gold asset, the El Domo Curipamba VMS discovery, and received a Royalty payment, ongoing management fees and can lease out their 3 drills. Plus they are …