WEBVTT - Going for gold–Santana Minerals 0:00:07.400 --> 0:00:09.920 Kyota. Welcome to Shared Lunch, brought to you by Sarsy's. 0:00:10.080 --> 0:00:12.920 My name is Dan Brunskill. Today on Shared Lunch, we're 0:00:12.960 --> 0:00:16.440 joined by Damien Spring, CEO of Santana Minerals, to talk 0:00:16.440 --> 0:00:18.720 about their new listing on the Inside X, the new 0:00:18.720 --> 0:00:22.160 gold mine near Queenstown, and the government's fast tracked legislation 0:00:22.560 --> 0:00:25.760 and more. But before we get started, here's some important information. 0:00:25.920 --> 0:00:29.640 Investing involves risk. You might lose the money you start with. 0:00:30.080 --> 0:00:33.880 We recommend talking to a licensed financial advisor. We also 0:00:33.920 --> 0:00:37.800 recommend reading product of Schlosure documents before deciding to invest. 0:00:38.320 --> 0:00:41.239 Everything you're about to see and here is current at 0:00:41.240 --> 0:00:42.280 the time of recording. 0:00:42.720 --> 0:00:44.200 Damien, thank you for coming on the show. 0:00:44.320 --> 0:00:44.959 Glad to be here. 0:00:45.000 --> 0:00:48.000 Busy week for you. Absolutely did you you just newly 0:00:48.040 --> 0:00:49.800 listed on the Inside X So did you get to 0:00:49.880 --> 0:00:50.320 ring the bell? 0:00:50.479 --> 0:00:51.840 Absolutely? Yeah. 0:00:51.880 --> 0:00:55.320 Well, actually, our founding director of Matakanai Gold and his 0:00:55.400 --> 0:00:58.560 ZEEM subsidiary Combunting, got that privilege. Here's the guy who 0:00:58.640 --> 0:01:01.160 drove the discovery, so he rang it first and then 0:01:01.200 --> 0:01:02.480 the whole team got their hands on there. 0:01:03.040 --> 0:01:04.640 I wanted to I wanted to ask you about the 0:01:04.680 --> 0:01:07.560 discoveries because because they have interesting names. I think the 0:01:07.560 --> 0:01:09.760 one we're talking about is called Raise and Shine. Another 0:01:09.760 --> 0:01:13.200 one's called common Time, and there's Shrek and Shrek East, 0:01:13.400 --> 0:01:15.800 which I don't know why it wasn't Shrek too, my 0:01:15.880 --> 0:01:18.679 personal favorite. But where do you cut with his names? 0:01:19.000 --> 0:01:22.480 Well, the first two historic names, they're from the eighteen 0:01:22.800 --> 0:01:26.600 sixties through the nineteen twenties though mind so yeah, Rise 0:01:26.640 --> 0:01:30.640 and Shine just good old prospectors' names from that era. 0:01:31.840 --> 0:01:36.400 And I guess Shrek's is acknowledgment of the big wooly 0:01:36.720 --> 0:01:39.080 sheep that was found twenty years ago this year. 0:01:39.200 --> 0:01:41.680 Got it is that from the same region. 0:01:41.560 --> 0:01:45.360 From Benego Station, were one of half the land that 0:01:45.400 --> 0:01:47.119 were lyon has been to go and the other half 0:01:47.200 --> 0:01:47.600 out here. 0:01:48.240 --> 0:01:49.720 Are you still looking for new discoveries? 0:01:49.800 --> 0:01:54.280 Absolutely, it's a very prospective area and continue to explore. 0:01:54.680 --> 0:01:56.840 Tell us what is this discovery, what have you found? 0:01:56.920 --> 0:01:58.200 Why are you excited about it? 0:01:59.000 --> 0:02:02.480 Look, it's a half million ounces at a grade of 0:02:02.600 --> 0:02:06.279 two point one grands per ton or parts per million. 0:02:06.680 --> 0:02:07.680 It's on the. 0:02:07.640 --> 0:02:10.519 World scale, that is right up there. There's not many 0:02:10.560 --> 0:02:14.720 other undeveloped new discoveries of that order in the world 0:02:14.840 --> 0:02:18.960 right now. And it's we're really excited about it. You know, 0:02:19.040 --> 0:02:22.919 I was working in the area or living in the 0:02:22.960 --> 0:02:26.359 area really, and when the opportunity came on board came up, 0:02:26.480 --> 0:02:29.560 I knew about the project and took the opportunity with 0:02:29.560 --> 0:02:30.160 both ham. 0:02:30.040 --> 0:02:31.680 So how long have you been looking at this? You 0:02:31.680 --> 0:02:33.919 said it's a sort of historical gold gold area. 0:02:34.200 --> 0:02:37.560 Yeah, well that's how we find things, look where the 0:02:37.600 --> 0:02:40.959 old timers were. But really the discovery hole was made 0:02:40.960 --> 0:02:45.840 in twenty twenty one, where after prospecting in the valley's 0:02:46.560 --> 0:02:50.760 Sentana Mineral bought the project off. Metacnoy Gold funded seven 0:02:50.800 --> 0:02:55.400 million dollars of expiration and James Bond whole Double O 0:02:55.520 --> 0:02:59.000 seven drilled forty meters at two grands per ton. So 0:02:59.160 --> 0:03:01.320 they followed it up with obviously a lot more drilling. 0:03:01.320 --> 0:03:04.920 We've drawed over three hundred holes now across the project 0:03:05.040 --> 0:03:07.240 and it's just turned into a world class deposit. 0:03:07.600 --> 0:03:10.200 So Double A seven the seventh hole you dug, correct, 0:03:10.280 --> 0:03:14.040 hit gold. Yes, that's good. That's good, okay, And the 0:03:14.120 --> 0:03:16.120 technical terms about how how much gold there is in 0:03:16.160 --> 0:03:18.560 the ground may be lost on me and listeners, but 0:03:18.639 --> 0:03:19.120 it's a. 0:03:19.120 --> 0:03:23.520 Good oh, absolutely, And I guess the reason we put 0:03:23.560 --> 0:03:26.480 out our scoping study earliest earlier this year was to 0:03:26.520 --> 0:03:30.640 actually put some more palatable metrics around it, in particularly 0:03:30.680 --> 0:03:33.720 on the financial side of things. So yeah, it's a 0:03:33.760 --> 0:03:38.520 fantastic project. It's going to deliver four point four billion 0:03:38.560 --> 0:03:41.000 dollars over ten years on what we know at that 0:03:41.040 --> 0:03:44.960 point in time was half the resource, and deliver potentially 0:03:45.040 --> 0:03:47.840 six percent of that value in the ground to New 0:03:47.960 --> 0:03:53.720 Zealanders either through taxes, royalties or dividends to our current 0:03:53.920 --> 0:03:57.280 existing forty percent New Zealand based shareholders. But we hope 0:03:57.280 --> 0:03:59.440 to grow with our recent listening yesterday, of. 0:03:59.360 --> 0:04:01.680 Course, congratulate. Talk to me about that because you're an 0:04:01.760 --> 0:04:06.000 Australian registered company ASX listed. You know, people on cheersa's 0:04:06.040 --> 0:04:08.360 and professional traders can buy and sell on the AX. 0:04:08.800 --> 0:04:10.560 What made you want to come over to the inzid 0:04:10.680 --> 0:04:12.760 X and set up a secondary listing here? What's the 0:04:12.800 --> 0:04:13.800 what's the benefit of doing so? 0:04:14.040 --> 0:04:14.560 Oh, look at it. 0:04:14.920 --> 0:04:18.320 It's demonstrating our intent, you know it as a New 0:04:18.400 --> 0:04:22.840 Zealand discovery. It will be developed in mind predominantly by 0:04:22.920 --> 0:04:26.880 New Zealanders for themselves and for their families and the community. 0:04:28.040 --> 0:04:31.159 I guess in terms of why specifically on the inziet X. 0:04:31.200 --> 0:04:35.520 It is a given the ability for those investors, whether 0:04:35.600 --> 0:04:38.880 retail or institutional, to trade in New Zealand currency without 0:04:38.920 --> 0:04:42.599 worrying about that forts issue. And ultimately, when we do 0:04:42.720 --> 0:04:45.360 start declaring dividends that hopefully we can do it in 0:04:45.400 --> 0:04:47.960 New Zealand dollars and get whatever franking credits are available 0:04:48.000 --> 0:04:48.800 at that point in time. 0:04:49.200 --> 0:04:51.719 You said about forty percent of your register on New Zealanders. 0:04:51.720 --> 0:04:54.880 Do you expect that to change and shift and grow potentially? 0:04:55.200 --> 0:05:01.679 Oh, look at there is that expectation. Ultimately, it gives 0:05:01.720 --> 0:05:05.680 us two platforms in which to grow the company here 0:05:06.320 --> 0:05:09.200 in New Zealand. Then of course the A six and 0:05:09.839 --> 0:05:14.720 we'll be looking for a final investment decision sometime next year, 0:05:15.080 --> 0:05:19.320 which will also be looking to capital raise to build 0:05:19.360 --> 0:05:19.720 the mine. 0:05:19.920 --> 0:05:21.640 Of course, how much do you think you will need 0:05:21.680 --> 0:05:22.040 to raise? 0:05:22.480 --> 0:05:25.279 Scope and study indicated about two and fifty million dollars 0:05:25.279 --> 0:05:27.840 in New Zealand and we're looking at a number of 0:05:27.920 --> 0:05:30.920 options as you expect, over a coming months to see 0:05:31.360 --> 0:05:32.599 how we're going to raise that money. 0:05:32.760 --> 0:05:34.480 And when you see options, you mean maybe a mix 0:05:34.520 --> 0:05:35.839 of reason capital. 0:05:35.520 --> 0:05:37.520 Debt, debt and equity predominant. 0:05:37.640 --> 0:05:40.520 Yes, have you taken on any sort of obviously on 0:05:40.520 --> 0:05:42.640 the sheer markets, you investors can come along. Have you 0:05:42.680 --> 0:05:45.200 taken on any big institutional investors for this project or 0:05:45.920 --> 0:05:46.560 it's been. 0:05:46.920 --> 0:05:50.680 Through them attacking of gold. They were well backed originally 0:05:51.040 --> 0:05:56.680 by High Networks in New Zealand never remained loyal to 0:05:56.760 --> 0:06:02.920 the company through the Santana acquiring a Takenery Gold. So 0:06:03.240 --> 0:06:05.640 right now, in terms of the A six, we really 0:06:05.680 --> 0:06:09.200 only have one institutional investor that's Regal They're number one, 0:06:09.800 --> 0:06:12.120 and the rest are helped still held bi predominantly by 0:06:12.160 --> 0:06:15.320 High Networks. So look as we definitely move into that 0:06:15.360 --> 0:06:19.159 construction phase, we expect that institutional buying will be there. 0:06:19.800 --> 0:06:22.000 So it sounds like Santana is quite focused on New 0:06:22.080 --> 0:06:25.640 Zealand and this project in particular. Do you have other 0:06:25.680 --> 0:06:27.960 projects going on? Is this one of many minds? What 0:06:28.040 --> 0:06:29.040 else does do you do? 0:06:29.279 --> 0:06:32.720 No, So, Santana is essentially an expiration company now looking 0:06:32.720 --> 0:06:35.160 to be a development company and ultimately a gold producer. 0:06:35.560 --> 0:06:38.840 So yes, we do have a couple of projects, one 0:06:38.839 --> 0:06:43.240 in Mexico that we're divesting and also a one in 0:06:43.880 --> 0:06:48.800 Cambodia which we're just earning. Have a partner there who's 0:06:48.839 --> 0:06:50.719 earning an interest in that doing all the work, so 0:06:50.760 --> 0:06:53.000 we'll just sit there quietly and let them do the 0:06:53.080 --> 0:06:55.760 work and hopefully grow that project on its own right. 0:06:55.839 --> 0:06:58.000 But so yeah, we're really focused on the bend to 0:06:58.040 --> 0:07:00.760 go over goal project that toownnumber one focus. 0:07:00.880 --> 0:07:05.040 So you've previously been exploration. Is this your first foray 0:07:05.120 --> 0:07:06.440 into actually pulling the gold out of. 0:07:06.440 --> 0:07:09.800 The ground In terms of the company, Santana absolutely, but 0:07:09.880 --> 0:07:11.880 it was spun out of a previous deal about ten 0:07:11.960 --> 0:07:15.560 years ago in Mexico, so the assets that were not 0:07:15.680 --> 0:07:20.400 required for that transaction were put into Santana. And as 0:07:20.560 --> 0:07:22.480 the way of our industry, you know, we have these 0:07:22.560 --> 0:07:24.840 junior explorers who are out there looking at the ground 0:07:24.920 --> 0:07:26.520 first on the ground to see if they can make 0:07:26.520 --> 0:07:29.520 a discovery, and ultimately, if they do make a discovery, 0:07:29.960 --> 0:07:34.840 transition to a developer or get picked up by existing producer. 0:07:35.520 --> 0:07:40.400 So I guess really as a company we're new, but 0:07:40.520 --> 0:07:43.800 as a team, as a people, we're very experienced. Peter 0:07:43.880 --> 0:07:49.040 Cook our non executive chairman, he's a very successful builder 0:07:49.080 --> 0:07:53.720 of minds and mining companies and one of note was 0:07:53.760 --> 0:07:57.119 west Gold. There's now well in excess of a billion 0:07:57.160 --> 0:08:00.800 dollars market cap, and a number of others in my 0:08:00.920 --> 0:08:04.560 team that I've selected over the last six months to 0:08:04.800 --> 0:08:06.840 be on the ground down there. I've all got their 0:08:06.960 --> 0:08:11.160 extensive careers in mining, both in Australia and New Zealand, 0:08:11.280 --> 0:08:14.880 and particularly with their own experiences in New Zealand, they've 0:08:14.880 --> 0:08:16.200 already got that in New Zealand context. 0:08:16.960 --> 0:08:19.000 Co goo back to something you said earlier. You said 0:08:19.160 --> 0:08:21.040 the way to find gold is look where the old 0:08:21.040 --> 0:08:23.520 time has looked. What has changed between now and then, 0:08:23.560 --> 0:08:26.160 I'm guessing it's technological advance that means you can get 0:08:26.160 --> 0:08:28.960 the goal that they maybe knew was there but didn't 0:08:28.960 --> 0:08:29.360 pull up. 0:08:29.720 --> 0:08:31.920 Well, there's a couple of things. Is the grade. You know, 0:08:31.960 --> 0:08:35.520 they are mining thirty grams per ton as a moniment 0:08:35.559 --> 0:08:38.480 that outstir it, as we call it. So we're mining 0:08:38.640 --> 0:08:41.240 potentially two and a half, probably a little bit higher initially, 0:08:41.400 --> 0:08:42.480 maybe up to five grands. 0:08:42.559 --> 0:08:44.959 It's how much gold is in each bit of dirt. 0:08:45.240 --> 0:08:49.200 Yeah, very much of the rock that actually contains the goal. 0:08:49.320 --> 0:08:50.880 There's a lot of rock that we have to move 0:08:51.000 --> 0:08:53.240 to expose that rock, and then we process it. 0:08:54.160 --> 0:08:54.640 So there's a. 0:08:54.679 --> 0:08:58.760 Grade, and then there's knowledge and science that's developed over 0:08:58.760 --> 0:09:01.240 the one hundred and fifty years and then probably longer actually, 0:09:01.240 --> 0:09:04.120 But the point now that we really understart to understand 0:09:04.440 --> 0:09:06.960 the little bit of clues that the ground gives us. 0:09:07.559 --> 0:09:10.360 And of course we've got the experience of McCrae's mccray's 0:09:10.400 --> 0:09:13.520 gold mine near Dunedin, owned by Oceana Gold. They've been 0:09:13.559 --> 0:09:16.920 operating for now thirty four years and produce over five 0:09:16.960 --> 0:09:21.880 million ounces. Very similar geometry and geology, slight differences in 0:09:21.920 --> 0:09:24.920 grade and metallurgy to our advantage. But there's a lot 0:09:24.920 --> 0:09:27.360 of learnings and that one of them was that had 0:09:27.360 --> 0:09:30.480 these northerly trends on their deposits which helped drive that 0:09:30.600 --> 0:09:32.000 discovery whole double seven. 0:09:32.080 --> 0:09:34.079 So that gives you some confidence about what you found 0:09:34.080 --> 0:09:34.360 in tap. 0:09:34.480 --> 0:09:36.560 Absolutely. Yeah, that's our bread and butter. 0:09:37.200 --> 0:09:41.720 Your pitch to investors say this project could produce between 0:09:42.800 --> 0:09:45.120 your one point one million of ounces of gold and 0:09:45.120 --> 0:09:47.960 that could mean one point one billion to two billion 0:09:48.000 --> 0:09:51.120 dollars of net profits over ten years. But a lot 0:09:51.160 --> 0:09:54.760 of that depends on the gold price. Talk to me 0:09:54.760 --> 0:09:56.920 about the outlook for the gold price. How do you 0:09:56.920 --> 0:09:58.560 think about that, because it's quite high at the. 0:09:58.559 --> 0:10:01.080 Moment right it is quite high ourscoping study was actually 0:10:01.080 --> 0:10:03.680 done on a conservative long term goal price of sixteen 0:10:03.760 --> 0:10:09.040 fifty US or twenty seven hundred. Key, we even on 0:10:09.080 --> 0:10:12.040 that metric produce that, as you say, one billion dollars 0:10:12.559 --> 0:10:16.840 net profit after tax. But going forward, yes, we're definitely 0:10:16.880 --> 0:10:21.319 at record pricing right now for gold. It obviously has 0:10:21.320 --> 0:10:23.960 a gold mine. It's pleasing to see and definitely drives 0:10:24.000 --> 0:10:28.680 a lot of interest. Where it ends up is beyond 0:10:28.679 --> 0:10:32.760 our control. Definitely say that because it's an international commodity 0:10:32.800 --> 0:10:36.040 that's well traded. What we have to do is we 0:10:36.160 --> 0:10:38.800 get our project up, get our capital, get our project up, 0:10:39.040 --> 0:10:42.400 manage our bottom line, our costs, and ensure that there 0:10:42.480 --> 0:10:45.120 is a margin there. And look at almost two and 0:10:45.120 --> 0:10:48.479 a half thousand dollars key, we announce there's plenty of margin. 0:10:48.880 --> 0:10:53.400 And yeah, got goal process tend to Yeah, what is 0:10:53.440 --> 0:10:55.839 the lowest it can go before you have to pull 0:10:55.840 --> 0:10:57.160 the plug on the project? Do you have do you 0:10:57.200 --> 0:10:58.560 have a goal price in your head that if it 0:10:58.559 --> 0:10:59.960 gets to that you're in trouble. 0:11:00.240 --> 0:11:04.480 Oh, look it's well below two thousand, seven hundred. See 0:11:04.480 --> 0:11:07.280 that was a conservative pricing and we still made a profit. 0:11:07.559 --> 0:11:08.040 What is it now? 0:11:08.080 --> 0:11:09.960 Through thirty nine I think it was. 0:11:09.960 --> 0:11:13.200 Over four thousand week back over over that price. So 0:11:13.400 --> 0:11:18.760 it's I guess it's it's a commodity that is complex, 0:11:18.800 --> 0:11:21.440 it's well traded. It goes up when it goes up, 0:11:21.480 --> 0:11:23.600 and it goes down when it goes down. And you 0:11:23.600 --> 0:11:25.640 can pick the drivers for that, I guess right now 0:11:25.640 --> 0:11:30.160 at central bank buying, but also a little bit uncertainty 0:11:30.160 --> 0:11:35.600 and international geopolitical scene as well as financials. But we'll 0:11:35.600 --> 0:11:38.480 take whatever the price is at the time we start producing, 0:11:38.520 --> 0:11:39.520 and that's what it will be. 0:11:39.840 --> 0:11:42.520 So you've scoped the project at a price of two thousand, 0:11:42.600 --> 0:11:46.439 seven hundred US, so it's profitable at seven thousand, two thousand, seven. 0:11:46.280 --> 0:11:47.800 Hundred absolutely one billion dollars. 0:11:47.960 --> 0:11:50.480 Okay, that's the one billion, and then the two billion 0:11:50.480 --> 0:11:51.960 dollars is at the current price at. 0:11:51.880 --> 0:11:54.719 Three nine hundred actuals. Is spot back in April when 0:11:54.720 --> 0:11:56.160 we release that report. 0:11:56.480 --> 0:11:58.720 Very interesting in terms of what drives the price. You 0:11:58.800 --> 0:12:03.120 just referenced central bank buying there, What about just things 0:12:03.120 --> 0:12:05.360 like in tech components and jewelry and what would call 0:12:05.360 --> 0:12:08.000 it practical uses? Is z drove the price much? Is 0:12:08.000 --> 0:12:09.199 it all about the store of value? 0:12:09.360 --> 0:12:09.480 Oh? 0:12:09.559 --> 0:12:12.320 Look, no doubt, I'm not much of a student on 0:12:12.600 --> 0:12:17.000 that goal, pricing on the mining engineer by trade, but 0:12:17.720 --> 0:12:21.200 absolutely I think the technological applications are a big part 0:12:21.240 --> 0:12:24.000 of it. I think, you know, there's a little bit 0:12:24.040 --> 0:12:26.959 of gold and everybody's smartphone a very small amount, I think, 0:12:27.040 --> 0:12:30.120 less than ten bucks, but it is something. I don't 0:12:30.160 --> 0:12:31.800 know how many smartphones are in the world, but I 0:12:31.840 --> 0:12:32.840 think there was a lot. 0:12:34.679 --> 0:12:37.120 A respect tore the not the gold experting. We ask 0:12:37.200 --> 0:12:40.320 one more question because as a retail investor show, and 0:12:40.360 --> 0:12:44.200 that is gold suddenly has a competitor in being store 0:12:44.200 --> 0:12:47.240 of value bitcoin, which people love and call it digital gold. 0:12:47.800 --> 0:12:49.839 How do you think about that? Are you worried that that, 0:12:50.000 --> 0:12:51.960 you know, bitcoin is going to displace gold? 0:12:53.120 --> 0:12:57.720 Not really really, I don't know much about cryptocurrencies. I 0:12:57.760 --> 0:13:02.000 think people like the idea of a physical store of wealth, 0:13:04.000 --> 0:13:07.680 and of course it does create its own physical industry. 0:13:08.679 --> 0:13:10.800 You know, we're going to have two hundred and fifty 0:13:10.960 --> 0:13:14.920 direct jobs at our operation down in Central Otaga. That 0:13:15.000 --> 0:13:18.360 will spawn at least three other jobs through free full 0:13:18.360 --> 0:13:20.800 time jobs, so be close to a thousand new jobs 0:13:20.800 --> 0:13:24.720 in the Central Otago region. So that's I guess widespread 0:13:25.080 --> 0:13:33.319 real economic driving activity versus yes, sorry crypto again, don't 0:13:33.360 --> 0:13:34.000 know anything about it. 0:13:34.040 --> 0:13:35.600 Don't want to pick a fight today. I guess one's 0:13:35.720 --> 0:13:39.000 one's one's one has a longer history. I suppose it's exactly. 0:13:39.040 --> 0:13:41.480 I love Millennia long. Hey. 0:13:41.520 --> 0:13:44.160 You mentioned earlier that the people working on this Maine 0:13:44.200 --> 0:13:47.199 will be New Zealanders. I've also heard that our workforce 0:13:47.600 --> 0:13:49.440 is limited there and people who have been involved in 0:13:49.480 --> 0:13:52.800 mining have gone overseas. Present me that many projects talk 0:13:52.840 --> 0:13:54.679 to me about the workforce as available, and where do 0:13:54.720 --> 0:13:55.760 you think it will come from. 0:13:56.040 --> 0:13:57.840 Look, there's three Q areas. 0:13:57.880 --> 0:14:00.440 I think our workforce will come from there. They'll be 0:14:00.520 --> 0:14:02.400 like me, They've been there a long time. They've chosen 0:14:02.400 --> 0:14:05.679 to live in central Otago maintain their links to the industry. 0:14:05.720 --> 0:14:08.240 I was lucky enough to work predominantly remote. How a 0:14:08.280 --> 0:14:11.320 cell phone had international airport. It's I can jump on 0:14:11.360 --> 0:14:14.880 the plane or drive drive to any of my client's mines. 0:14:17.040 --> 0:14:20.760 There'll be others who are fly and fly out for 0:14:20.960 --> 0:14:23.600 actually going to operate at mines rather than work remote 0:14:24.000 --> 0:14:27.640 out of that area. There'll be Kiwis and others who 0:14:27.640 --> 0:14:30.840 are working fly and fly out in Western Australia enjoying 0:14:30.880 --> 0:14:33.240 the money. But two weeks or one week away from 0:14:33.240 --> 0:14:36.840 their family for three weeks puts a toll on things. 0:14:36.880 --> 0:14:39.800 So they may be looking to change their lifestyle, staying 0:14:39.840 --> 0:14:42.320 the game that they love being a part of, and 0:14:42.760 --> 0:14:45.920 look to relocate. And of course there'll be people want 0:14:45.960 --> 0:14:49.080 to get a bit of this new industry called gold 0:14:49.080 --> 0:14:52.200 mining in Central Otago who again are already there and 0:14:52.360 --> 0:14:54.960 just want to change jobs and join us. 0:14:55.120 --> 0:14:57.120 So you could imagine some of the Kiwis who are 0:14:57.120 --> 0:14:59.000 mining in Australia coming back to work on a new 0:14:59.040 --> 0:14:59.600 Zealand project. 0:15:00.000 --> 0:15:00.320 Aolutely. 0:15:01.040 --> 0:15:04.040 I know people are who are aware of this project 0:15:04.080 --> 0:15:06.320 and aware of their mates already in the industry over there. 0:15:06.360 --> 0:15:08.440 To the text them say when you're coming back. 0:15:09.400 --> 0:15:13.360 Your mind is not yet consented, correct, And you're hoping 0:15:13.400 --> 0:15:15.920 to be part of this new government fast tracked legislation 0:15:16.280 --> 0:15:18.840 that could speed up that whole process. It's currently making 0:15:18.880 --> 0:15:21.360 its way through parliament. Do you expect to be one 0:15:21.360 --> 0:15:23.480 of the projects that is listed in the Schedule A 0:15:23.640 --> 0:15:26.120 Schedule B that is automatically included in the legislation. 0:15:26.680 --> 0:15:30.200 Look, we have applied for a Schedule two A. We 0:15:30.240 --> 0:15:33.240 haven't made a much deal about it because, as you say, 0:15:33.240 --> 0:15:36.440 the bill is still going through Parliament. It's actually at 0:15:36.480 --> 0:15:40.320 the Environment Select Committee stage and they're due to report 0:15:40.360 --> 0:15:42.800 back in a few months time. On the back of that, 0:15:42.920 --> 0:15:45.720 the second reading, the bill will have it second reading 0:15:45.720 --> 0:15:49.400 in Parliament and we'll hopefully see what happens with that 0:15:49.440 --> 0:15:51.080 Scheduled two A or Schedule two B. 0:15:51.480 --> 0:15:55.520 Right, the bill's relatively controversial, one of the most controversial 0:15:55.520 --> 0:15:57.120 things the government's doing at the moment. Do you have 0:15:57.160 --> 0:15:59.040 a backup plan for if it doesn't make it or 0:15:59.080 --> 0:16:00.480 if it gets ubstantially changed. 0:16:00.800 --> 0:16:03.080 Well, Fast Track Approval Bill is actually my Plan B, 0:16:03.480 --> 0:16:07.440 my Plan AA, given my background working for another ASX 0:16:07.480 --> 0:16:10.480 company that is one hundred percent New Zealand Bathist Resources, 0:16:11.160 --> 0:16:14.560 was to follow the Resource Management Act and submit our 0:16:14.760 --> 0:16:16.840 applications at the end of this year. So we've been 0:16:16.880 --> 0:16:19.320 working since I've joined the company that started last year 0:16:19.560 --> 0:16:24.080 to gather the information, particularly around the environmental baseline overlay 0:16:24.120 --> 0:16:26.960 that with our mining plans, come up with a mitigation 0:16:27.760 --> 0:16:32.080 or offseting conversations allowed for under the RMA, and put 0:16:32.120 --> 0:16:34.240 the application at the end of this year. So look, 0:16:34.360 --> 0:16:37.200 this Plan B that I've called it, the Fast Track 0:16:37.240 --> 0:16:41.400 Approvals Bill as popped up, would certainly take full advantage 0:16:41.440 --> 0:16:44.000 of it. As you know, it's an over arching piece 0:16:44.000 --> 0:16:48.760 of legislation, palls and six acts, including the ROMA. The 0:16:48.760 --> 0:16:51.760 requirements under those individual six acts I think of which 0:16:51.760 --> 0:16:55.760 four we need permissions from those requirements still stand, so 0:16:55.760 --> 0:16:58.120 we still have to follow the processes under the ROMA 0:16:58.960 --> 0:17:03.080 to mitigate our effects and continue consultation, which is a 0:17:03.080 --> 0:17:05.600 big part of what we do, talking to our community, 0:17:05.680 --> 0:17:10.080 talking to our neighbors, talking to Manifenoa, and we expect 0:17:10.119 --> 0:17:12.040 that when we do put our application at the end 0:17:12.080 --> 0:17:14.720 of this year or early next year, that we've done 0:17:14.720 --> 0:17:16.160 it with the best of our ability at that point 0:17:16.160 --> 0:17:16.600 in time. 0:17:16.800 --> 0:17:19.400 So am I understanding there that the application you're submitting 0:17:19.440 --> 0:17:22.320 and the requirements you will face are the same under 0:17:22.320 --> 0:17:23.920 each process, just ones faster. 0:17:24.359 --> 0:17:27.520 Yeah, I guess Fast Track Approvals Bill is really a 0:17:27.520 --> 0:17:30.560 one stop shop. You know, it's those six acts. We 0:17:30.640 --> 0:17:32.959 put one application to cover all the permissions under those 0:17:33.000 --> 0:17:35.200 six acts, four of the six acts that we need 0:17:35.240 --> 0:17:39.439 those permissions. As we understand it, with the current version, 0:17:39.640 --> 0:17:42.359 the expert Panel have six months to make a recommendation 0:17:42.400 --> 0:17:45.040 to the Minister and then the Minister has that decision 0:17:45.080 --> 0:17:46.959 to grant or otherwise those conditions. 0:17:47.119 --> 0:17:48.879 So what's the timeline under Plan A. 0:17:50.080 --> 0:17:52.800 Oh, look at part of our submission to the Environment 0:17:52.840 --> 0:17:57.280 Select Committee was that the the Plan A through the 0:17:57.640 --> 0:18:02.040 normal RMA process, that's what we call a two step process. 0:18:02.400 --> 0:18:05.600 We put your application, it all your consultation, put your 0:18:05.600 --> 0:18:11.000 application in publicly notified. Sometime months after that, you get 0:18:11.000 --> 0:18:14.200 a public hearing, lots of public anyone in the public 0:18:14.200 --> 0:18:18.920 can make a submission on it. The commissioners reveal the 0:18:19.000 --> 0:18:22.480 evidence and then confirm or otherwise the conditions of the 0:18:22.520 --> 0:18:26.800 consent or decline it for whatever reason. Then because of 0:18:26.880 --> 0:18:29.159 the way it works for the last eighty years of 0:18:29.200 --> 0:18:32.920 the Act thirty three years of the Act is there's 0:18:32.960 --> 0:18:35.520 options to go to the Environment Court to appeal aspects 0:18:35.560 --> 0:18:36.639 where we all start again. 0:18:36.720 --> 0:18:38.080 So that does. 0:18:38.000 --> 0:18:41.159 Push the timeline out and I guess it is a 0:18:41.200 --> 0:18:43.320 rest for us. You know, we can't we don't want 0:18:43.320 --> 0:18:46.879 to be sitting around fighting things out in court where 0:18:47.359 --> 0:18:51.240 my goal always do a very good job on the 0:18:51.280 --> 0:18:55.000 science first, and then the consultation, understanding people's issues and 0:18:55.720 --> 0:18:57.960 at least giving them the opportunity to review our science 0:18:58.000 --> 0:19:00.600 and our mitigation before we that application. 0:19:01.200 --> 0:19:03.439 The Resources Minister Shane Jones has said that one of 0:19:03.440 --> 0:19:06.200 the big poems mining industry faces in New Zealand is 0:19:06.280 --> 0:19:09.119 social license, this idea that maybe the New Zealand public 0:19:09.400 --> 0:19:13.040 doesn't trust you necessarily. How do you go about winning 0:19:13.040 --> 0:19:15.159 the trust of New Zealanders to say we can be 0:19:15.200 --> 0:19:17.560 trusted with this piece of the environment, we'll look after it, 0:19:17.600 --> 0:19:20.800 will look after our neighbors can convince us. 0:19:22.240 --> 0:19:26.840 The idea of social license probably decades old. I've been 0:19:26.840 --> 0:19:28.800 aware of it for a long time. I've heard it 0:19:28.840 --> 0:19:31.800 being described in the Patagonia, where I've also worked for 0:19:31.880 --> 0:19:35.080 a T six listed company that we had to make 0:19:35.080 --> 0:19:36.879 it very clear, it's not a piece of paper that 0:19:36.920 --> 0:19:41.359 we get, here's our social license. It is a case 0:19:41.440 --> 0:19:44.119 of talking to people, introducing yourself if you ever met 0:19:44.160 --> 0:19:47.520 them before, let them know the background. And certainly in 0:19:47.520 --> 0:19:50.280 my case, I'm a local. I've lived in theretown twenty years. 0:19:50.320 --> 0:19:54.360 So the projects are now depending on with bad traffic 0:19:54.440 --> 0:19:57.919 up to the project. So we're here for the long term. 0:19:57.920 --> 0:20:00.800 We're not an overseas company here to take the profit. 0:20:01.240 --> 0:20:04.520 Mind take the profits and disappear again. So it's about 0:20:05.280 --> 0:20:08.840 ensuring we're firing following the leader of the law at Urma. 0:20:08.920 --> 0:20:11.320 As it stands today, and then whatever it is under 0:20:11.320 --> 0:20:14.239 the Fast Track Approval S Bill, that we're doing our 0:20:14.280 --> 0:20:18.000 work to the highest possible standard in terms of mining 0:20:18.280 --> 0:20:20.920