 Hi, how's everybody doing? This is Rich and we have a Rich TV Live with our very special guest. It is Amir Adnani here with us today How you doing today Amir? I'm well and nice to be with you for the first time Thank you for joining us now We've been doing some research on your company and we love to identify undervalued underappreciated Underexposed companies here at Rich TV Live. We've been doing it for three years and we love gold stocks So first and foremost, why don't you tell us a little bit about your company and what makes this a Premier mining company You know, it's interesting because This is a way to maybe talk about our company the other day I saw a report or someone pointed out to me that Goldman Sachs is not calling for $2,000 an ounce gold as their new target. They've raised their target and I remember when Goldman Sachs had a target of $1,000 an ounce gold I think it was about 2015 okay, and and that's that's around the time we were as a company Very busy and excited about gold and looking about gold assets and so to use that kind of as a way to answer your question gold mining Inc really has has taken on a very Contrarian approach to building a portfolio of gold projects Way before gold broke into the current bull market environment that it sent. Okay, we started in 2010 We went public in 2011 and then when the gold market really kind of started to roll over and enter the bear market from 2012 onwards We became a very aggressive Acquirer of resource stage gold projects that were pre-production But had been drilled where you can get your hands around independently verified compliant resources And so put some numbers around it for you since 2012 Gold mining has acquired over 80 million dollars in acquisitions and projects The projects that we paid 80 million dollars for had close to $300 million spent on them in exploration and development by the prior owners Wow, and in the whole market for gold in 2011 The combined market cap of all these companies that we acquired and consolidated was over 800 million dollars a combined market cap So today and and so again our strategy was when gold is out of favor That's going to be the best time to acquire the stressed assets We didn't use any debt to acquire the assets We we were able to go public be listed get the backing of some very Like-minded investors investors that also had a contrarian bent to how they looked at the gold market backed us and you know, we're talking about individuals like Rick ruled that chairman of Sprott USA Speculators like duck Casey couple of big institutional investors out of London in New York Big base of individual investors that again saw the market the way we did and as a public company We were able to go out there grow grow grow. So what does that mean today? We have projects 14 projects across five countries in the Americas US Canada Brazil Colombia and Peru and our total gold resources in all categories We have about 12 million ounces of gold resources and measured and indicated and around 13 million ounces of gold in the inferred category that is one of the largest Resource space of any pre-production company in the world and So the story for us is all about size diversification and leverage to a higher gold price And we didn't start yesterday. This is one of your classic cases of a ten-year overnight success kind of thing Well, I'm not saying we're an overnight success But you know my you get what I'm saying because now I find as we are in the early innings of a bull market for gold It's difficult to find gold projects if you do they're expensive they trade they're gonna start trading at higher and higher multiples and I really feel like we designed built this company patiently Over a period where gold was so out of favor that you could have paid these low prices that we paid for it very similar to Buying your Christmas decorations in January so today When you look at the company, you not only get the total size and diversification, but you also get this extra Components that we've announced recently, which is the creation of gold royalty court This is an entity that we currently own 100 percent. It's a very something. I'm very excited about we just announced this a few days ago and We've we've basically said we have this large portfolio of assets We own a hundred percent and to give our investors yet another direct exposure to these assets By creating a royalty company We own a hundred percent and taking new royalties from these assets and putting them over here We get exposure to two distinct forms of value creation royalty and streaming which is a whole new Growing sector for precious metal investors and the actual Development exploration development side, which is over here. All of this today is under the umbrella of gold mining ink Wow, is that a second company? Like you have another symbol for that company as well that you're creating or is it a subsidiary? Currently, yeah, so yeah that currently that company gold royalty corp has just been formed and It's currently wholly owned by gold mining so no ticker symbol what we have said is that as we move forward here We're gonna look at potential spin-offs. We're gonna look at potential IPO We're gonna look at potential we're gonna look at ways that gold royalty corp could be We could basically just enhance this value and whatever structure or Transaction we can do to into to basically advance that part of the business forward We're gonna do that. Look, we just announced this. This is this is new development the market has responded very favorably to the news and Part of it is because not too many exploration development companies has as many Projects as we do to then create a royalty company because to create a royalty company You need many individual royalties to do that and so because we basically check the box when it comes to critical mass we were able to create this and Look, we're covered by three analysts at Haywood, H.C. Wainwright and Roth capital all three have written very favorably about this on the back of this We're seeing a good market response. I mean that you know that thing is better than the market response itself And I'm excited about this because if you think about it Right now in the precious metal sector, right? Their royalty and streaming companies trade at significantly higher multiples than the developers and producers and And so that arbitrage in the market is also very interesting And if you can create a structure for your investors to have both exposures that dual-track approach It to me. It's basically optimizing the value that is inherent in the asset base I agree 100% now the world has gone really crazy because of the coven 19 How has that affected your business if at all there are some drilling companies that stop drilling There's some mining companies that have stopped, you know, pulling assets out of the ground. Has that had any effect on your company? that focus of our company has been to acquire assets with low holding costs Minimal work needed and to hold that asset inventory that asset and create literally a mineral bank Wow, and that's again the the leverage in controlling the as many resources as we do and projects that we have So one thing and look, we didn't predict that something like coven 19 was going to happen. So as a result, we haven't had The complexities that's associated with operations with having active drilling programs that that wasn't part of our business. And so as a result, we've had a lot less To manage and deal with around all the complexities and restrictions and limitations of coven 19 but make no doubt about it. And I think this is the point of your question is that There have been a lot of disruptions to the mining industry and to the extraction side of gold and the refining side of gold as a result of COVID That's just caused the supply chains to be impacted and it's caused, frankly, the price to be even, you know, further kind of underpinned by those issues. So I think when you look at it, Paul Singer of Elliott Management Said it best recently in his in his investment letter where he said that, look, gold is taking center stage right now because of three reasons. A fanatical debasement of fiat currencies low interest rate environment or the whole idea of suppression of real rates. So deeper into the negative rate territory. And then, thirdly, the idea of all the challenges associated with the extraction side of gold. It's a physical Business and that you got to look for gold, you got to mine it, you got to refine it, you got to move it all around the world. Well, Not only do you have COVID as a problem, but you have the fact that since 2012 we were in a bear market for gold. So companies were under investing in exploration and development. Everyone was cutting their exploration and development budgets. So as a result, we're not coming into this bull market for gold with a big healthy pipeline of projects for major producers. In fact, Bank of America had a research report that showed reserves for the major producers are down by 42% Wow. You know, that's like going to Walmart and the shelves are 42% empty. I mean, if you're in the business of mining or selling something, you got to make sure the pipeline is full. The pipeline is quite low right now. We're at a decade low for gold resources in the ground. And that's ultimately where the gold has to be extracted from to become the end product that a miner sells. Now, it's very important with our community that we understand the company's share structure. We love a tight share structure. Can you explain to us a little bit about your share structure, maybe how much is held by insiders and how much is in the flow? Yeah, it's very important to me as well to talk about that actually because as the founder of gold mining and the chairman of the company, I have significant skin in the game. So I'm the largest individual shareholder of the company. The end of other groups that are involved with the company have been involved from the very beginning. So talk about long term capital. We're talking about 10 years of having been involved and long term. We have a strategic partner in Brazil, which is one of the oldest investment firms in all of Latin America, Brazil Invest. Mario Garnero, who sits on our board is the representative for Brazil Invest. So you have that strategic partner, but again, has been there for close to a decade since the founding of the company along with myself. We mentioned Rick Rule of Sprott, who have been there also since day one. Maren Catoosa and Doug Casey with their KCR, KCO fund have been there from the very beginning. There's an intermediate gold producer by the name of I am Gold, who's been a shareholder of our company since 2016. There's a fund out in New York, Extract Capital, who's been a shareholder also since really the beginning of the company. So you can out of 140 million shares outstanding. At least five or six of the long term holders of the company, including myself, certainly represent over 20% stake and ownership in the company. That's very meaningful skin in the game. Again, we count these funds. I mean, and I'm going off the top of my head. I believe the numbers and in fact higher than that. But more importantly, in addition to the capital structure that has that exists today, I have to point out to you how diligent we've been with avoiding dilution and making our cash last a long time. Here we are. It's approaching or we're the middle of 2020. The last time our company issued equity to raise capital was in 2016. Wow. Okay, four years since we last issued equity. That equity, look, it is and we have, and as of our last reported financial filing, we had 8.6 million a cash on hand and no debt and no debt. Wow. So I know you like to ask about the capital structure, but I think it's one thing to say, what is the capital structure today? But it's another thing to say, how often does the capital structure change? How often are you issuing stocks? So for us, we've been extremely tight and diligent about only issuing equity if we were buying an asset in return. So if there's dilution, your asset base is going up. If we've kept our spending extremely low, again, for junior resources, when do you ever hear of companies that haven't raised money in four years and are still sitting on over 8 million a cash? So I think we put our money where our mouth is and our track record speaks for itself. And the last raise that we did was that around the current, I mean, in Canadian dollars, we did that raise at $2.50 Canadian. And in fact, today's share price is below that. And so, and that's partially due to the fact that, as you know, 2016, we had a hot gold market. Yes. This year, the market for gold is recovering, but it's the physical ETFs. It's the large cap names that have moved first. And the smaller guys are playing catch up. The smaller guys are still trading and that's like us. We're still trading below the levels of 2016's gold rally. But gold's rally in 2016, the gold price only got up to $1,350 an ounce. Today we're approaching 1800. And the equity valuations are 20, 30% below where they were in 2016. So it's a really great setup, but it's the classical thing where the funds are going into the large cap names first, then they exchange traded funds, physical bullion. Once all of those things have had their big rally and they have, you're now starting to see money and capital trickle down the totem pole. Right? And that's exciting place to be because the big moves always are in the large and the smaller cap names that once that gets going, that's where a lot of the leverage is. And that's why people like the junior resource sector for investing. You guys, your stock has been doing quite well. Now for a shareholder that's watching, that's learning, that's thinking about buying the stock or investing in the stock, what do they have to look forward to for the future? You guys have a tight share structure. I just learned you have no debt and you got money in the bank. So right there, I really like what I hear so far. What does an investor have to look forward to? Do you guys have any acquisitions you're looking at? You guys have any big news you guys are working on? Anything exciting to look forward to in the future because your stock's already done well. Can we continue to see it go higher? Well, first of all, I think if you look at the company and what we've said we're going to do, right, we've been for 10 years executing on a strategy of acquiring resource stage gold projects and growing our mineral bank of gold resources in the ground. We're going to continue to look for acquisitions. We just did two acquisitions in the last six months. We're good at this and that's why a lot of funds have backed us. That's why we have a good roster of investors to look at our team. Look at the, you know, there's way more to this kind of business interviewing me, but you look at our board, you look at our technical team, you look at the team that's out there finding assets, making acquisitions. We've shown over a decade that we have a track record at getting deals done. Number one, number two, we will have news and progress on advancing the project portfolio that we have through various development steps. That adds value to each project as we advance them, be it permitting, be it completing new economic studies, ways of optimizing project for future development and production. Number three, and this is the most recent thing we've announced, the creation of Gold Royalty Corp. This is a very exciting development. No other junior company I know of that had as many projects as we did and then capture this additional value in the form of a new royalty company. This is, you know, today when you invest in gold mining, you're getting direct exposure to a ground floor opportunity of a new Royalty business that again, in the long term, will be, will look to again perhaps divest IPO or transact in some way to enhance that value. So that gives you a whole other track and set of developments and catalysts that could be exciting and it could increase the value of the company. Finally, as I mentioned, despite where we are today, we're still well below our valuation levels of 2016 with more total resources in our portfolio. The three analysts that cover our company have, you know, expectations and target prices that are multiples higher than where our current share prices. And for the long term holders that have been involved in this, I think would agree with you if you look at our enterprise value and you divide that by our total resources in the ground. We're trading at around $11 an ounce in the ground. That is a very low valuation for a company that is amassed as many resources as we have. Again, as I mentioned, 12 million ounces of gold resources and measured and indicated category and 13 million ounces in the inferred category that total resource portfolio. $11 an ounce resource valuation. In the last decade, when mergers and acquisitions happen, they happen typically at a valuation range of $60 to $100 an ounce. So I think there's a compelling value proposition to begin with where we are, how many resource ounces we have and what we're trading at today. And if you actually look at our history, we spent $83 million acquiring the total resources that we have. So we paid our company's cost to acquire the resource space was about $3.50 an ounce. And so at $11 an ounce, we've built a good business, we started paying, we paid $80 million, we captured these ounces. Our average cost was $3.50 an ounce. We're now trading at $11 an ounce. What we really believe long term value is going to be closer to where measured and indicated and inferred resources traded in the market in M&A and in other development. The place for that is, in my opinion, and based on market comps, I forget opinion, there's market data, market comps. Roll Bank of Canada did a study where they showed what is the average multiple paid for measured indicated and inferred gold resources, same category we have, and it's about $70 an ounce based on the last decade of M&A transaction multiples. So looking at it, I think this is a really unique setup because not only is the current resource portfolio that we own 100% trading at a very attractive multiple compared to historical benchmark. Again, the additional value and leverage in Gold Royalty Corp. That 212 punch, that's the setup that we offer today that in my opinion does not exist out there amongst junior companies, pre-production companies, sub-200 million market cap universe. I think we offer a lot of value for a company that is small and in our size. If there was one thing that you want people to remember about gold mining ink, what would it be? Ah, that's a very good question. You know, I think, I think it's, I value the, I value long-term relationships. I'm a long-term guy, you look at how I've approached building this business, again, going at it very patiently over the long term. Not wanting to be in gold because it's the flavor of the month. In fact, I wanted to be in gold when it wasn't the flavor of the month. So I value long-term relationships. And for that, I value the shareholder base we have that has backed us for a long time. And so I want to be able to perhaps remember our website to go there and get more information, learn a lot more about the company, and by really understanding it in depth, if it becomes a long-term area of interest, you can touch with us. You know, go to goldmining.com. Just look at what we've done. Look at our, look at our PowerPoint presentation, call our investor relations department. You can share more information with you. I think value, when you build a business as an entrepreneur and I'm an entrepreneur, you have to have a long-term vision. You have to really think about growing the business over the long term. And it's awesome when you have like-minded people as backers and investors, you can do that with. So, you know, we're a publicly listed company, as we talked about on the Toronto Stock Exchange. Our ticker symbol is very easy to remember. That's gold, G-O-L-D, and the name of the company is Gold Mining and the website is goldmining.com. And for U.S. investors, we're on the OTCQX market with ticker symbol G-L-D-L-F. That's all I've got for you. That's great. Well, thank you so much for joining us today. We wish you the best of luck in your future endeavors. We're going to be watching your story very closely and we're going to be spreading the word to all of our members all over the world about this video and about your story. Continue all your success and we'll talk to you soon. Thank you very much. I appreciate it and let's be in touch. Have yourself a great day. Thank you, YouTube.