Hi everyone! Ken McElroy right here!
And as you guys know,
this might be the biggest real estate deal that I've ever been involved in.
As you guys done, I've done billions of dollars.
But today we're going to talk about what's below the earth, not
what's above the earth.
And I can't wait to chat with Sean Roosen and Marin Katusa
Welcome, guys.
Well, it's really good to have you here, Ken. It's been a heck of a day.
We are 625 feet down below the ground at the Trixie Mine
So I want to talk about the acquisition
because I think a lot of times was it 17,000 acres, right?
You know, so it started with a big real estate play.
And I look at, you know, when I do a development, I go up and you guys go down.
So I think it's fascinating to me.
And we're also standing right in the middle of this new discovery.
Right.
So let's talk about this, this right here shot.
So we're down to 625 feet, which is about three quarters
of the height of the Eiffel Tower and in the underground.
And we're going to go a lot deeper.
We go down to about 1350 feet, which would be about 300 feet higher
than the Eiffel Tower, as you said, behind a 6.9 ounces
here, 106 ounces per ton behind us.
And this discovery is an extraordinary one.
I've been mining since I was 18 years old.
I'm 58 now, so I've been at this a bit and this is the best
one I've seen in terms of grade worldwide.
We're in Utah over 45 minutes from the town of Provo on a paved road.
And this is wealth creation at its primary basis.
If you can't grow it, you have to mine it.
Every Tesla, every iPhone came out of a piece of rock like we see around us
today, and we're winning gold, Telluride and other metals in this mine.
But there's these super high grade pockets in here
that we're just beginning to understand.
So it's it's early days, very excited to be hosting yourself
and Robert Kiyosaki underground here today.
So Marin ever every deal needs a money guy, a finance guy, a wizard.
You know, you're the guy behind the curtain.
This is really a value added my world.
This is a massive value add.
You saw $500 million of his infrastructure
from the teams and and the miners before.
So what did you see?
Because now, obviously, it's a massive value add.
So in short and I teamed up so it start with people,
they got to know what they're doing, right, because I know what I'm doing.
I need the guys that I'm backing to make sure that they know what they're doing.
So they own three mines, but this one really
is like nothing I've ever seen in my life.
We walked, you know what it is about a thousand feet.
Every foot is $5,000 to two to basically tunnel.
That's money that other
people spent over $100 million of drilling that you get of other people's money
to get to where we are here, even to this discovery zone.
Right. And that's what we're trying to do here. De-risk it.
We've both been around the world traveling.
Why do I want to take massive risk?
You're here in America
and then you get all the upside, not just the gold that's here.
I'm not taking the exploration risk.
I tell you, look fascinating to me.
Is it start off with basically a real estate land play?
Yep. And the mine was here and you told me another story where the guy was buying
timber and the mine was there and then it turned into something else.
And I just think that's what's fascinating about this story
is, you know, I'm going to call this eight from gold.
You know, because really they stopped.
And then the new technology you brought in, all the old data,
digitized it, turn it into 4D, plus this gun.
Let's talk about my favorite automatic I know you're a gun guy are showing me
your gun to double
check this here's my gun collection if you go up to any piece of rock.
Yeah so this is about 300 ounces per ton of rock.
And then you take this, this is about 400.
And you look at the colors.
Yeah, you know, it's hard to walk by.
It doesn't even look like gold.
I know the average geologist wouldn't even look at this and see what's going on.
The stuff you're upstairs you're looking at, just
the average grade is $10,000 in those buckets, 2.2 ounces.
That's interesting thing.
Tons because it's not like I would have never seen this.
I could have walked by, kicked this rock.
And I think most real estate deals, most deals are what somebody else sees.
You know, just like
when you go into a fully built out city and then you redevelop, you know that
people go there, that there's busy, and this is like a downtown street.
This has obviously been a hot premium property for a long time.
And we got to come in.
We got to do the work. We have to do the science.
We have to be good miners and good operators from a real estate guy.
I was listening to you guys for the last two days.
First of all, it was fascinating for me and my learning curve is still vertical,
but I'm hearing patents, I'm hearing permits, I'm hearing
licensing, I'm hearing obviously Utah versus, you know, you know,
some of the other areas like in Africa that you were talking about.
You're working to mitigate, mitigate risk, decrease time.
Right.
So you could talk a little bit about that because that's exactly what I try to do
when I'm looking for any real estate deals.
I'm I'm looking at
well, I think, you know, when we look at the cost exposure of something
as big as mining, which is an expensive and a capital intensive business,
you have to have a long term staying power.
You can't just get in and get out quickly.
We have to have a plan to be here for 20, 30, 40 years.
So you have to be you have to know that you can manage your risk, access
to energy, access to people, access to power,
access to the supplies and equipment.
Yeah, I know.
That's what you guys see and that's what's most important to me.
You know, we talked a little bit on the jet flying here.
He said we're on third base now, you know, to hit a home run.
But really, you're still really just the first inning to create.
That's what's most interesting.
Like you're about ready to score what you did with this, this, this.
Here, we're ready to.
Yeah. Oh, my God. The t to with this.
But now this is really just the first inning, right?
Absolutely.
I mean, you know, I, I built Canada's largest gold mine.
I bought it for $88,888.
Nobody thought too much of it didn't look very good.
We sold it for $4 billion in 2014.
So we've been on this game before.
We've seen this movie before.
We know what the smell of success looks like when it comes to mining.
And really this is the very beginning of a new day because even those 140 year
mining here, these guys came within eight feet of this but never found it.
Can we can we talk to the SEC mayor about the a lot of people are confused
about the mining and the carbon credits and the, you know,
and what you guys do on the redevelopment because you're
a lot of people are net zero and you're net positive
because what you were showing me on the plane is you're taking these mines
and then turning them into something pretty special at the end.
Right.
And you're doing it through redevelopment, but also through these carbon credits
and the reclamation.
So, for example, you can go and there's so many ways using new technology,
for example, you can plant more trees and then you can sequester the carbon.
So you're net negative.
So you're going to sequester take out more carbon out of the atmosphere.
Then your project creates.
More importantly, because this mine is so high grade,
we're not a big open
pit bulk tonnage project like Bingham Canyon is because it's very low grade.
Well, relative to this, everything's low grade.
But we are so concentrated wealth that we don't
need to blast and move a lot of rock and crush it.
So our carbon footprint per grade or production,
nobody can compete with us because of the grade
and hopefully will build infrastructure and projects
that contribute to the environmental success in British Columbia.
Our other projects we're doing a salmon hatchery, we're doing a caribou support
program, and our goal is not only to leave it as good as
we found it, but make sure that there's more salmon and more caribou there.
By the time that project is done, more trees planted,
and also to take the wealth that's created here
and channel it into a plan to water city water purification plant.
You've been four and a half million dollars would never be done
unless that's how we put the money in to do it.
It's incredible to me because, you know, again,
a lot of real estate development just they look at the land and they go up,
you guys go down and then up like it's it's a great model.
Well, guys, thank you so much.