looking at the markets
welcome to looking at the markets with David Moadel today my special guest is
Mr. Tim Warman now let me tell you about Mr. Tim Warman
he has 25 plus years in the metals and mining industry additionally he is a
director at Continental gold and VP of corporate development at aurelion
resources and perhaps most importantly for today he is the CEO at Fiore gold
and just to let you know four investors out there who might be interested in
Fiore gold it is tradable in Canada on the CVE
exchange it is under the tip ticker symbol F and on the OTC markets here in
the United States it is f io g F so mr. Tim warm and welcome to looking at the
markets well thank you great to be here yeah it's really a pleasure to have you
and I can't wait to tap in to your knowledge about metals mining and the
economy in general well I'll tell you this is a really exciting year for me
2018 you know China just said yes to credit expansion we're talking about
middle class buying spree real estate mega cities possibly an infrastructure
boom now what does this mean for precious metals such as copper zinc
silver and so on yeah I mean I think there's a number of interesting
developments in China and some of the BRICS
you know just globally I think I think that are really pushing up its a man for
gold providing greater access for people to invest in gold and and also you know
people I think are looking at things like overall geopolitical uncertainty
and and gold you know as always is seen as a good hedge against uncertainty a
good hedge against risk and I think we're starting to see that with some of
the gold price moves over the past several weeks I mean you know gold had
struggled for a while to break through that $39.00 barrier it they would hold
it for a day or two fall back but you know we've really
started to hold that and consolidate some of those gains and I think I think
going forward as the demand for gold increases you're going to see that gold
price continued to climb through 2018 and and the nice thing about gold is
that it's very difficult to turn on the the taps from a supply side I mean it
takes a long time to get a gold mine into production so when that price goes
up with demand going up you just can't simply turn on the supply and that
continues to put upward pressure on the gold price I think we'll see that going
forward yeah I can't imagine a better time to get involved in investing in
precious metals and that would certainly include a gold you know when we look at
the United States economic situation with low unemployment record high
confidence levels Millennials hitting peak earnings and spending years in
pending tax cuts infrastructure renovations would you agree with me that
inflation could hit us at least in the United States big time and that could
certainly help out any gold or other precious metal investment yeah I think
you know there's a lot of people around today that don't even remember what
inflation is like we've been in such a low inflation environment for so many
years but I think we're coming to the end of that period and I think you know
as always gold is one of those things whose value fundamentally can't be
inflated away you know it doesn't really matter what the price of gold is over
the the years and the centuries it's you know the the story is it's always been
able to buy you a good business suit and and that's true today and that that was
true you know 50 years ago so it's really it's really set itself up as a
store of value that is very very useful to hold in inflationary times yeah I
totally agree and there are a number of ways to get into the gold trade and
there also are a number of ways to get into the blockchain trade which you know
I get questions every day emails all the time about blockchain technology how do
I get involved as well as precious metals questions and I want to talk
about Fiori gold in particular because I know that the Fiore group is behind hive
blockchain tech which is the most successful stock
launch in Canada's history in the past four months and so now you can diversify
into gold and blockchain at the same time now I know that you and your
company went into the most prolific region Nevada yeah so why Nevada yeah
look Nevada is is the place to be in the US for gold mining any note Avada as a
state produces something like 80 percent of the u.s. gold production it's very
very well-endowed geologically to the of the top five mines in the world are
located in Nevada and and not just from a geological point of view from a
political from a social from an infrastructure point of view you know
you've got a you've got a population and a government that knows mining that
understands its contribution and its importance to the economy
you've got great infrastructure I mean you can drive off a paved highway for
about five minutes to get to the front gate of our pan mines are producing
asset now you've got a trained workforce all the equipment suppliers I mean you
know everything you need is there now is this the best time to make acquisitions
and why would that be yeah so I mean you know we see Nevada and some of the
surrounding states is really ripe for consolidation in some of the smaller
deposits you know fiore gold right now it's a fairly new company we picked up
some assets out of bankruptcy and turned one of the producing mines around and
we're producing something between 35 and 40 thousand ounces of gold in 2018 but
you know we don't want to stop there that's really just our starting position
and there are a number of other small relatively small sort of forty to
seventy thousand ounce or year producing gold assets single asset companies that
really don't make sense on their own as investment vehicles they're not very
interesting but we think that there's a there's a real play to be made there in
bolting some of those assets together with good capital markets backing like
we have a fiore gold in that that background of the feet larger Fiori
group and once you can get your production beyond that kind of magic
number of about a hundred thousand ounces per year
which is about a three or four times production growth for us you
be seeing a rereading in your share price in your market cap of about 8 to
12 times so there's a real step change there as you cross that hundred thousand
ones bearing and we see that the the way to get there is both through increasing
production at our existing asset getting some of our other earlier stage
development assets into production and consolidating by bolting on and
acquiring some of these other assets in Nevada and the surrounding states to
push us up over that hundred thousand now it's our goal is to be a hundred
fifty thousand as producer in in you know in the next five years yeah and if
that's your goal can you compare your market cap the market cap of fee re gold
with companies other companies that are also producing similarly one hundred and
fifty thousand ounces or so per year yeah exactly so in our current market
caps it's just under a hundred million Canadian dollars and if you look at
companies that are producing in that kind of hundred to one hundred sixty
thousand mountain space companies like Guyana gold like rocks gold like McHugh
and mining one of the favorites of a lot of investors again another nevada
producer you know those companies are typically trading anywhere from sort of
four hundred million see upwards of a billion dollars market cap so again
that's that step change i talked about you increase your gold production about
three or four times but you get a eight to ten times increase in your market cap
and i think it's really a function of there's a visit there's a sort of
efficiency of scale as you start to get into that larger production obviously
you're spreading your corporate overheads over a larger production base
and you're getting a lot more flexibility particularly if you're
producing for more than one line sure now what are your 2018 milestones for
free or e gold yeah so i mean as i said we're a relatively new company fury gold
just came into existence in August September of 2017 but we've now got our
producing asset up and running and producing well and making money this is
the year when we're going to do a couple things we're gonna increase production
in our pan mine which is a producing mine we think we can get that asset up
to somewhere in the fifty thousand ounce range it's never gonna be a huge mine
but it's a good mine and we're always gonna look back and say that was our
first mine that's what we started building the company with the other
thing we're gonna do is with push our gold rock project which is just
next door towards production and gold rock has a really interesting advantage
over a lot of other mining projects in the US and elsewhere in that the
permitting process the federal permitting process for a full mined
build at Gold Rock which typically takes five to seven or even more years to get
through that it was started by one of our predecessor companies and has
continued on and we actually expect to get the full mine permit in early q1 of
2018 and so we'll be in the kind of enviable
position of having our permits in place ahead of actually finishing the
engineering and the technical studies needed to go into production so I mean
we don't even have a preliminary economic assessment or on that project
yet so we'll be doing a lot of work there in terms of drilling and
engineering and metallurgical studies the idea that you know that's gonna be
our next producing mine that's terms of organic growth and then finally we're
gonna be executing on our consolidation strategy there's a a number of other
companies out there similar profile to us we've been talking to them over the
last few months and I think that momentum is building to where we can
pull the trigger on at least one deal to start to grow that production through
some smart acquisition so that's been really the kind of threefold goals we
have for 2018 yeah sounds like there's plenty of room for growth in this
company now what I want to know is how were you able to buy a two hundred
million dollar property in operating goldmine in Nevada for five million
dollars which would be a ninety seven point five percent discount how did you
pull that off yeah I think this really speaks to the strength of our technical
team you know we've got a very good technical team headed by a guy named Ken
Bronk who's our chief operating officer a lot of these guys are ex Newmont's a
very very experienced miners know Nevada really well and they looked at our
producing asset the pan mine because it was part of a bankruptcy package it had
put the company that built the mine back in 2015 had gone into bankruptcy about
four months after starting to pour gold at that mine so they built the mine
spent something like two hundred million dollars exploring doing the engineering
studies building this new mine but ran into some problems early on as the mine
was getting up and running and it put them into bankruptcy and you know
ken looked at this from a bankruptcy situation and said you know what it it's
not the asset that's the problem it was the company structure on the team that
was trying to get it into production and the underlying asset is actually quite
sound and he's proven that you know they they put a bid together bought it at a
bankruptcy for five million dollars which is an incredible discount as you
mentioned and have really turned that mine around had taken what a lot of
people said was a dog and turned it into a beautifully performing little mine and
it's it's producing cash it's but it's it's a profitable little mine and and
really an excellent turnaround story and we're gonna take that kind of crack
operating team that we put together and we want to apply that to other
properties and turn those and get those running efficiently as well yeah it
sounds to me like Fiore gold as an investment would be both an excellent
value play as well as a growth type of investment because there's so much room
for growth here I'm really excited about this opportunity and I'm glad I got to
speak with you today mr. Tim warm and once again the CEO of Fiore gold for
investors and traders as well on the CVE in Canada the ticker symbol is F on the
OTC markets in the United States the ticker symbol is fi o GF now if people
wanted more information I believe people can go to Fiore goal.com would that be
correct that's correct furious fi o r e gold calm we have an
Instagram feed a twitter feed but it's all all starts at the website gotcha
fantastic I love Twitter what is your Twitter handle that people can go to I
think I'm an old dog trying to learn new tricks so I believe our Twitter feed is
fiore underscore gold all right and I will put that on the screen as well
along with Fiori gold dot-com that's the first place to go if people want to see
the latest news and developments for Fiori gold alright and if people want to
contact somebody at Fiore goal they can also go to the website for that yes
absolutely all right well I hope that people will check out Fiore gold calm I
hope they will consider Fiore gold as an investment not only in the precious
metals space but in the blockchain space because once again they are behind the
hive blockchain Tec a huge launch in Canada very
exciting and you know I I really appreciate all your time today I hope to
be able to catch up with you soon just to see how things are developing both
with you and Fiore gold so mr. Tim Morman thank you so much for spending
some time with me today on looking at the markets thanks for having me
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