Senergy Media Club

T2 Metals (TSXV: TWO; OTCQB: AGLAF) CEO Mark Saxon

The Senergy Media Club
The Senergy Media Club
T2 Metals (TSXV: TWO; OTCQB: AGLAF) CEO Mark Saxon
/

Mark Saxon from T2 Metals (TSXV: TWO; OTCQB: AGLAF) speaks with Senergy about T2’s project portfolio, recent drilling at Lida, exploration plans, share structure and more.T2 Metals Corp is an emerging copper and precious metal company enhancing shareholder value through exploration and discovery. T2 is focused on the Sherridon Project in Manitoba, the Lida Project in Nevada, and the Cora Project in Arizona.

Read the transcription of this episode Arrow

00;00;07;26 – 00;00;10;29
Welcome back to the Mining and Markets
podcast by Senergy Capital.

00;00;11;00 – 00;00;12;27
For those of you
who aren’t familiar with the podcast

00;00;12;27 – 00;00;14;14
or just tuning in for the first time,

00;00;14;14 – 00;00;18;04
this is a weekly episode where we feature
CEOs from the mining and resources space.

00;00;18;05 – 00;00;22;24
Joining me today is the CEO of T2 Metals
Corp, formerly known as Aguila Copper, Mr.

00;00;22;24 – 00;00;25;05
Mark Saxon. Mark,
it’s a pleasure to have you on the show.

00;00;25;06 – 00;00;26;17
I’ve been wanting to do this for a while.

00;00;26;17 – 00;00;28;15
I’m glad
that we finally got a time to do this.

00;00;28;15 – 00;00;29;22
How are you doing today?

00;00;29;22 – 00;00;30;08
Aleem, good afternoon.

00;00;30;08 – 00;00;32;29
Thank you very much for the opportunity
to talk. Really appreciate it.

00;00;33;00 – 00;00;36;17
And yeah, I think we’re gonna have a good
chat about T2 metals and other things.

00;00;36;25 – 00;00;38;10
It looks like your podcast doing
very well.

00;00;38;10 – 00;00;38;24
Thank you.

00;00;38;24 – 00;00;39;24
Let’s jump right into it.

00;00;39;24 – 00;00;43;01
Mark, can you give a brief overview on T2,
maybe a little bit about the history,

00;00;43;01 – 00;00;45;09
the name, the people involved,
and let’s start with that.

00;00;45;09 – 00;00;46;02
Yeah, for sure.

00;00;46;02 – 00;00;49;07
And yeah. T2 is an interesting company.

00;00;49;08 – 00;00;52;06
TSX listed as you know,
and with a ticker code of CWO,

00;00;52;13 – 00;00;56;22
the company is quite old and I think
it was originally formed back in the 1980s

00;00;56;22 – 00;01;01;00
and it was working, particularly in South
America, on precious metal projects.

00;01;01;00 – 00;01;02;24
And I think Peru is its main focus.

00;01;02;24 – 00;01;07;01
But we kind of had a bit of a varied life
through until 2017

00;01;07;01 – 00;01;08;18
when during tough markets,

00;01;08;18 – 00;01;11;05
then the decision was made
by some former management

00;01;11;05 – 00;01;13;15
to roll the company back
and take it back as a show.

00;01;13;15 – 00;01;15;10
And so it was 2020.

00;01;15;10 – 00;01;17;18
So yeah, really during the depths of COVID
that I got involved

00;01;17;18 – 00;01;21;14
and was asked to come on as a CEO during
that time to see if we could find some

00;01;21;14 – 00;01;25;10
projects and find some money and stimulate
the company in new directions.

00;01;25;10 – 00;01;29;19
So the company, I guess originally
was called Aguila American Gold, which was

00;01;29;19 – 00;01;32;29
I guess that focus on South America,
where a Aguila is Eagle in Spanish.

00;01;33;00 – 00;01;34;21
We took on the name T2

00;01;34;21 – 00;01;37;26
because it’s about six months ago
now and and T2 really reflects,

00;01;37;26 – 00;01;38;15
I suppose, the way

00;01;38;15 – 00;01;42;08
we’re heading as a company in the future,
which is part of the transition economy.

00;01;42;08 – 00;01;45;10
As far as the transition
to to better metals and mining,

00;01;45;10 – 00;01;49;05
the transition to better ways
of producing energy and transport.

00;01;49;05 – 00;01;52;10
And yeah, we’re very pleased
to be part of that that sector and cycle.

00;01;52;11 – 00;01;53;21
So battery metals is a focus.

00;01;53;21 – 00;01;56;21
What metals and commodities in particular
you guys are going after?

00;01;56;22 – 00;01;57;17
Yeah, absolutely.

00;01;57;17 – 00;02;00;15
And I guess it’s not new
and I’m sure you’ve spoken to many people

00;02;00;15 – 00;02;02;08
who are focused
on that battery metal space,

00;02;02;08 – 00;02;05;11
but really it is it’s a breath
of fresh air into the mining industry.

00;02;05;11 – 00;02;07;07
We’re going to catch
up. We’ve got to change.

00;02;07;07 – 00;02;10;15
And and part of that is
is moving away from carbon

00;02;10;15 – 00;02;13;21
based fuels into renewable energy
and more sustainable transport.

00;02;13;22 – 00;02;14;28
It’s not a fast transition.

00;02;14;28 – 00;02;18;14
It’s not going to happen overnight
and it’s going to take a quite long time.

00;02;18;14 – 00;02;22;11
But as part of that transition,
there’s some really key strategic metals

00;02;22;11 – 00;02;24;15
that are needed in in very large demand.

00;02;24;15 – 00;02;25;27
So we can run through a long list.

00;02;25;27 – 00;02;30;10
But yeah, copper, nickel, lithium,
graphite, probably silver, rare earth

00;02;30;10 – 00;02;34;28
metals, all of those have really bright
futures because of that, expanding markets

00;02;35;09 – 00;02;36;19
in the energy transition.

00;02;36;19 – 00;02;38;07
And when I guess a particular

00;02;38;07 – 00;02;41;11
focus on copper at the moment
and when you look at all of the copper

00;02;41;11 – 00;02;45;04
that’s been mined in the world to date,
we have to mine just as much copper

00;02;45;04 – 00;02;49;03
in about the next ten years to support
the aims of the energy transition.

00;02;49;03 – 00;02;53;08
So it’s a it’s a massive hurdle
and it needs T2 to be successful.

00;02;53;08 – 00;02;55;21
And many other companies
like T2 to be successful as well.

00;02;55;26 – 00;02;58;26
I want to talk about some of the projects
that you guys have in your portfolio,

00;02;58;26 – 00;02;59;27
specifically Lida.

00;02;59;27 – 00;03;02;26
Can you talk a little bit about the
location and the geology of the project?

00;03;02;29 – 00;03;03;25
Yeah, absolutely.

00;03;03;25 – 00;03;04;02
Yeah.

00;03;04;02 – 00;03;07;01
So I guess at the highest level
we’re exploring for copper,

00;03;07;01 – 00;03;09;27
it puts us in the western part of
the US is a great place to be.

00;03;09;27 – 00;03;12;24
And so we undertook our own project
generation

00;03;12;24 – 00;03;16;19
and identified a number of targets
that we saw as on the shallow cover.

00;03;16;19 – 00;03;20;01
And that’s really a nice place
to be in the US because there hasn’t

00;03;20;01 – 00;03;23;13
been all that much undercover exploration
completed, particularly in Nevada.

00;03;23;14 – 00;03;27;15
So we had a look at some ideas
on porphyry style mineralization,

00;03;27;15 – 00;03;30;07
so yet quite focused on porphyry style
mineralization in Nevada

00;03;30;07 – 00;03;33;06
which is under them and in the area
that’s called the Walker line,

00;03;33;06 – 00;03;35;12
which I guess is hard
up against the California border.

00;03;35;12 – 00;03;38;12
There’s a number of copper mines
and projects there.

00;03;38;12 – 00;03;40;10
And we picked up another one,
which is called Lida,

00;03;40;10 – 00;03;42;19
which has a lot of old copper
workings at surface.

00;03;42;20 – 00;03;47;13
So we went and we did an IP
survey across that area and we identified

00;03;47;13 – 00;03;52;03
a really strong chargeability target
and a really strong resistivity target.

00;03;52;03 – 00;03;53;28
And so the chargeability is the thing

00;03;53;28 – 00;03;57;20
we focused on first
and we saw that as the chargeability.

00;03;57;20 – 00;04;00;24
It relates to the presence
of usually sulfide in the ground.

00;04;00;24 – 00;04;04;16
And and so the the sulfide conducts
the electricity a little bit better,

00;04;04;16 – 00;04;06;21
and that’s essentially
the chargeability target.

00;04;06;22 – 00;04;10;28
So we went and we drilled some holes
into that and we found lots of pyrite,

00;04;10;28 – 00;04;13;07
lots of really good strong
porphyry style alteration.

00;04;13;07 – 00;04;15;21
And in the bottoms of the holes
we came into,

00;04;15;21 – 00;04;19;06
what’s the resistivity target,
which is very strong specification

00;04;19;06 – 00;04;22;26
and that really looks like
a very interesting copper gold target.

00;04;22;26 – 00;04;26;02
I’m working on the Walker line
in not far from Batey.

00;04;26;03 – 00;04;29;25
We’re in the heart of sort of one of the
key gold mining districts of the US.

00;04;29;25 – 00;04;31;27
And so we’re really excited
about the look of those rocks,

00;04;31;27 – 00;04;34;26
the drilling results, the assays
were, yeah, we’re not spectacular and,

00;04;35;04 – 00;04;35;17
but yeah,

00;04;35;17 – 00;04;36;10
there was enough in there

00;04;36;10 – 00;04;38;13
to be be very interesting
and the look of the rocks,

00;04;38;13 – 00;04;40;07
the strength of this alteration
is really exciting.

00;04;40;07 – 00;04;43;19
And a few months after drilling Lida,
you guys announce some new targets

00;04;43;19 – 00;04;46;20
identified at Chora and also completed
some geophysics at Sheridan.

00;04;46;20 – 00;04;49;18
Was there a strategic pause
to to stop drilling at Lida?

00;04;49;18 – 00;04;51;14
And what’s next
with the other two projects?

00;04;51;14 – 00;04;52;02
Yeah, yeah.

00;04;52;02 – 00;04;55;21
With Lida we drilled two holes
each 900 meters apart, each

00;04;55;21 – 00;04;57;09
repeating the same style of alteration.

00;04;57;09 – 00;04;58;14
So we kind of felt

00;04;58;14 – 00;05;01;24
it was time to just take a breath there
and think about how better to target.

00;05;01;24 – 00;05;03;02
It’s a it’s a big project.

00;05;03;02 – 00;05;05;00
It never had drill holes into it before.

00;05;05;00 – 00;05;07;29
And so we’ve got many kilometers
in any direction to go.

00;05;07;29 – 00;05;10;07
And so we need to find a way
to vectored towards a target.

00;05;10;07 – 00;05;12;16
Then we then I guess, have been focusing
a little bit

00;05;12;16 – 00;05;16;26
more on our core project,
which is a copper porphyry in Arizona.

00;05;16;26 – 00;05;21;02
The last time that one was drilled
was 1960s, I think it was.

00;05;21;02 – 00;05;23;27
And so that is again, under shallow cover.

00;05;23;28 – 00;05;27;08
It’s adjacent to a small copper mine
which was produced in the 1950s

00;05;27;08 – 00;05;31;06
and really in the heart of all
the major copper production in the US,

00;05;31;06 – 00;05;33;14
which is sort of central southern Arizona.

00;05;33;15 – 00;05;35;28
So we’ve got operating projects
in all directions.

00;05;35;29 – 00;05;38;27
Yeah, really exciting place to be and
we’ll be back there drilling quite soon.

00;05;38;27 – 00;05;41;23
We’re just discussing the permits
and contractors

00;05;41;23 – 00;05;43;22
moment to make sure
we’re doing everything we need to do.

00;05;43;22 – 00;05;45;14
So Chora will be the next one.
I think that we drill.

00;05;45;14 – 00;05;49;04
And then yeah, as you mentioned, Sheridan,
which is a project up in Manitoba

00;05;49;04 – 00;05;50;16
and Sheridan is a little different

00;05;50;16 – 00;05;54;01
to the other two because it’s
got a massive amount of historic data.

00;05;54;13 – 00;05;57;17
So Sheridan was, is in the Flint
long camp of Manitoba.

00;05;58;02 – 00;06;01;08
Yep. A very well known mining
district for for gemstone

00;06;01;08 – 00;06;04;15
deposits has been mined
for more than 100 years.

00;06;04;15 – 00;06;08;21
And Sheridan is one of those projects
that was mined 1940s and fifties,

00;06;08;21 – 00;06;12;26
produced 8 million tonnes
at about 3% copper and 3% zinc.

00;06;12;26 – 00;06;16;01
Yeah, we’re going back now and
following up on some of that past work.

00;06;16;05 – 00;06;17;01
And would you say that

00;06;17;01 – 00;06;20;04
Sheridan reminds you a little bit
about the Foran mining project?

00;06;20;04 – 00;06;21;06
Because when I look at the two,

00;06;21;06 – 00;06;22;27
I see that
there’s quite a few similarities

00;06;22;27 – 00;06;24;06
and I want to get your opinion on that.

00;06;24;06 – 00;06;28;01
Yes. So just across the border, yeah,
there’s a company called Foran

00;06;28;08 – 00;06;33;21
TSX listed as well, doing a great job
in exploration so Foran is also looking

00;06;33;21 – 00;06;37;15
at a same style deposit, the same as what
we’re looking at called McIlvenna Bay

00;06;37;15 – 00;06;40;27
And so they’ve been drilling
some deep holes underneath

00;06;40;27 – 00;06;45;08
a small resource of mine, exactly the same
as what we’re doing over at Sheridan.

00;06;45;08 – 00;06;47;05
And when you think about
what’s near-surface

00;06;47;05 – 00;06;50;14
and what’s been monitored in the past,
we can call the smoke they start.

00;06;50;14 – 00;06;52;03
Deposits are often associated with

00;06;52;03 – 00;06;55;09
one really big old body at depth,
and that’s not easy to find.

00;06;55;10 – 00;06;57;05
Takes lots of work
with geophysics and drilling,

00;06;57;05 – 00;06;59;16
but yet we’re hoping very much
to replicate

00;06;59;16 – 00;07;01;17
what Foran mining
has done in Saskatchewan.

00;07;01;17 – 00;07;03;28
So that’s great
is three exciting projects.

00;07;03;28 – 00;07;05;29
You know, what’s the focus going forward?

00;07;05;29 – 00;07;08;06
Is it Chora or is it going to be Sheridan?

00;07;08;06 – 00;07;11;18
We’re stepping through those projects,
so we raised some flow through funding

00;07;11;24 – 00;07;15;10
late last year and so that money
will absolutely be spent up at Sheridan

00;07;15;15 – 00;07;16;17
needs to be spent in Canada.

00;07;16;17 – 00;07;19;28
We have some good hard dollars and that’s
the money we’re spending down at Chora

00;07;19;28 – 00;07;21;24
So we’ll be doing two things in parallel.

00;07;21;24 – 00;07;24;00
Yeah, we’re a very active project
generation group.

00;07;24;00 – 00;07;25;04
We look at new projects

00;07;25;04 – 00;07;27;00
all the time, submittals
from other companies

00;07;27;00 – 00;07;29;03
and doing our own work
and generation as well.

00;07;29;03 – 00;07;32;25
So that feeds the pipeline of,
of new projects and yeah,

00;07;32;25 – 00;07;34;29
and that’s the really fun
part of what we do, an expression

00;07;35;02 – 00;07;37;27
that was just going to be my next question
regarding, you know new projects.

00;07;37;27 – 00;07;39;27
Is a company
looking at anything in particular?

00;07;39;27 – 00;07;42;11
Are you guys happy with the three projects
that you have in the portfolio?

00;07;42;12 – 00;07;44;00
No. Looking, looking never stops.

00;07;44;00 – 00;07;46;16
And every geologist will tell you
that we’re always out there

00;07;46;16 – 00;07;50;13
looking and looking over the fence
and our our competitors and peers

00;07;50;13 – 00;07;52;13
about what they’re doing.
And we’re always learning.

00;07;52;13 – 00;07;56;00
And every hole you drill and every sample
you take, you learn something new

00;07;56;00 – 00;07;57;12
and it gives you the opportunity to go

00;07;57;12 – 00;08;00;03
and look in new places
and come up with new ideas.

00;08;00;03 – 00;08;02;22
And that’s an essential part
of the exploration businesses

00;08;02;22 – 00;08;05;22
to sort of that refresh,
keep on refreshing and keep on learning

00;08;05;22 – 00;08;09;22
and yeah, and to find the great deposit
that that moves towards being a mine.

00;08;09;24 – 00;08;10;26
And just to switch focus

00;08;10;26 – 00;08;13;00
a little bit, let’s talk a little bit
about the share structure

00;08;13;00 – 00;08;14;26
for the for the investors
that are listening right now.

00;08;14;26 – 00;08;17;15
Yeah, for sure.
We’re we’re very tightly held company.

00;08;17;15 – 00;08;19;00
We’ve got about 30 million shares

00;08;19;00 – 00;08;22;04
outstanding,
very few options and warrants outstanding.

00;08;22;04 – 00;08;23;27
So yeah, very tightly held.

00;08;23;27 – 00;08;28;02
We’ve got good money in the bank between
both hard dollars and flow through,

00;08;28;05 – 00;08;31;29
always looking for new opportunities
for partnerships and raising money.

00;08;31;29 – 00;08;33;24
But at the moment we’re in good position.

00;08;33;24 – 00;08;34;21
That’s great to hear.

00;08;34;21 – 00;08;36;20
And lastly, Mark,
I want to get your opinion on,

00;08;36;20 – 00;08;38;03
you know, your view on the markets
right now.

00;08;38;03 – 00;08;39;14
It’s, of course, an interesting time.

00;08;39;14 – 00;08;39;29
Where do you see

00;08;39;29 – 00;08;42;21
the future of some of these commodities
and metals that you mentioned?

00;08;43;03 – 00;08;44;17
And where do you see the future?

00;08;44;17 – 00;08;46;21
The last 3 to 6 months has been

00;08;46;21 – 00;08;47;20
will be challenging in mining

00;08;47;20 – 00;08;49;13
and stay at the markets
have been a little bit flat

00;08;49;13 – 00;08;52;05
and we’re coming off the back
of a number of good years

00;08;52;05 – 00;08;54;23
where where particularly lithium
I suppose rare earths.

00;08;54;23 – 00;08;57;05
Some of those specialty metals
have had some great runs.

00;08;57;05 – 00;09;00;14
We’re in a bit of a soft period
the moment and yet concerns about

00;09;00;14 – 00;09;03;18
what’s happening in China, concerns
about the strength of the US market

00;09;03;18 – 00;09;05;26
war in Europe,
all those things are sort of

00;09;05;26 – 00;09;08;02
in people’s minds
when they think about investing.

00;09;08;02 – 00;09;10;09
But the medium to long term
looks extremely bright

00;09;10;09 – 00;09;12;06
and I say no concern about that.

00;09;12;06 – 00;09;13;05
The energy transition,

00;09;13;05 – 00;09;17;23
the move to electric transport,
the move to renewable energy is with us.

00;09;17;23 – 00;09;18;24
It’s not going anywhere.

00;09;18;24 – 00;09;22;13
It’s going to be the rest of my lifetime
and certainly the rest of your lifetime.

00;09;22;13 – 00;09;24;17
It’ll be the major
investing theme that we live with

00;09;24;17 – 00;09;25;29
and it puts the world
in a much better place.

00;09;25;29 – 00;09;27;10
So it’s great to be part of it.

00;09;27;10 – 00;09;28;05
I completely agree.

00;09;28;05 – 00;09;29;22
Thank you so much for your time
today, Mark.

00;09;29;22 – 00;09;30;29
I had a pleasure chatting with you.

00;09;30;29 – 00;09;33;06
And for everyone listening right now,
if you enjoyed the content,

00;09;33;07 – 00;09;34;16
make sure to like and subscribe.

00;09;34;16 – 00;09;35;25
We’re going to be doing these podcasts

00;09;35;25 – 00;09;38;01
every week,
so I hope to see you on the next one.

00;09;38;01 – 00;09;39;21
Thanks for your time, Mark. Thanks Aleem, chat soon!


Leave a Reply