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Speaker 1: Did you watch my recent video on how to multiply

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Speaker 1: your profits with silver investing? Or do you just want

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Speaker 1: to know how to multiply your profits and silver investing. Well,

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Speaker 1: if you watch that video or you just want to

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Speaker 1: know how, you know that investing into silver has massive

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Speaker 1: upside potential. Investing into silver resources, silver mind, silver stocks

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Speaker 1: give us even way more explosive upside. Now, it doesn't

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Speaker 1: go without risk. We need to understand that. I broke

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Speaker 1: that down in that video. However, there's some stuff that

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Speaker 1: we can learn by asking other people. And so today

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Speaker 1: I am sitting down with billionaire resource investing legend, Carlo Chiavelli,

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Speaker 1: and I'm going to ask him all the questions that

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Speaker 1: you should if you had a chance to sit down

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Speaker 1: with a billionaire. Now he's made a fortune investing into

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Speaker 1: silver resources, silver stocks and other types as well, and

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Speaker 1: I'm gonna ask him what it is that we should

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Speaker 1: be looking for, how he evaluates it, what type of

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Speaker 1: strategies he uses, and um, I mentioned one that I

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Speaker 1: thought was under value, and we're gonna dig into it

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Speaker 1: and we're going to discuss that. And there's so much

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Speaker 1: information that we can learn from sitting down with a billionaire.

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Speaker 1: I'm asking all the questions that you should if you

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Speaker 1: had the chance to sit down with him. So that's it.

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Speaker 1: Let's jump into the interview. Let me know what you think. Hey, everyone,

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Speaker 1: welcome back to another episode of the Market Disruptors Show. Today,

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Speaker 1: I am sitting down with billionaire resource legend Carlo Chivelli.

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Speaker 1: He is an adviser to a company as a silver

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Speaker 1: mining company called klin X, and I had him on

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Speaker 1: to talk to us about silver mining resource investing to

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Speaker 1: follow up on the video that I just put out

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Speaker 1: that got massive reviews, and so Carlo is good enough

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Speaker 1: to come on and talk to us. So Carlo, welcome,

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Speaker 1: Thank you, all right, welcome, welcome also yeah, so uh so,

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Speaker 1: thanks so much for coming on. Like I said, uh,

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Speaker 1: I really wanted to follow up on that video. I

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Speaker 1: had a lot of questions, and so you know, who

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Speaker 1: better to ask the questions than to someone that has

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Speaker 1: such an experience and track record as yourself. Um, of

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Speaker 1: course I know a little bit about your track record,

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Speaker 1: but why don't you fill fill the listeners in just

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Speaker 1: kind of give us a little background on what you've

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Speaker 1: been doing in in silver mining resource investing. I'll be

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Speaker 1: happy to I started out like forty years ago basically

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Speaker 1: in becoming involved in mining companies, most of them or

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Speaker 1: practically all of them listed on the Canadian stock exchanges

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Speaker 1: at the time. I was one of the first, if

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Speaker 1: not the first, to bring Canadian mining companies over to

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Speaker 1: Europe to make presentations for them in London, Zurich, where

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Speaker 1: I was living at the time, and sometimes also in

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Speaker 1: Paris or Milano. And we raised a lot of money

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Speaker 1: for mining companies at the time, and most of them

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Speaker 1: were gold companies, of course, later on also silver companies,

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Speaker 1: and after that I moved into oil and gas. But

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Speaker 1: I can say that off the many many companies that

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Speaker 1: we finance out of Europe, that's proba really at least

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Speaker 1: a dozen companies that made it into billion dollar companies.

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Speaker 1: Practically all of them maybe with the exception of one

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Speaker 1: or two were taken over. We're sold to bigger companies,

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Speaker 1: and so I became very well known, and I'm still

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Speaker 1: very active in the Canadian stock market on exploration stocks

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Speaker 1: because that's my know how, and it's also my philosophy

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Speaker 1: to invest in little companies that have good properties, more importantly,

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Speaker 1: good management, because good management can even make a big

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Speaker 1: bad property become good, whereas bad management can destroy even

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Speaker 1: a good property. Definitely, So that's where I come from. Great, Yeah, definitely. Uh.

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Speaker 1: You know, I talked, I talked quite a bit about

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Speaker 1: you know, investing in the silver mines or gold mines specifically, UM,

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Speaker 1: and talk about Yeah, management is one of the key

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Speaker 1: things and and and anything in life, right it has

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Speaker 1: to be managed properly. But going back to your kind

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Speaker 1: of history, and you kind of have this history of

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Speaker 1: resource and best seen then you talked about you know,

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Speaker 1: precious metals, you talked about energy and gas. But right

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Speaker 1: now this is following up on the silver mining video

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Speaker 1: that I did, and so you're obviously silver mining right now.

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Speaker 1: So I'm curious, um, being that you've invested in different

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Speaker 1: types of resources and right now you're in silver. Is

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Speaker 1: there something specifically about silver that you like, Like, you know,

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Speaker 1: maybe the inflation is running away and you think silver

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Speaker 1: is a good store of value and that's why it's

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Speaker 1: why it's the best asset to be in right now,

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Speaker 1: or is there something that draws you to silver? Well,

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Speaker 1: you know, I still remember back in the eighties when

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Speaker 1: silver actually ran to fifty dollars that was on the

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Speaker 1: back of the hunt protest having done a squeeze, yeah,

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Speaker 1: which stand deck side it. So I've been following, obviously

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Speaker 1: the precious metals and in particular silver, over all these years.

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Speaker 1: And if you look at the ratio between silver and

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Speaker 1: gold today, silver is definitely left behind on the value,

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Speaker 1: so it should have the best run once everything comes

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Speaker 1: back into the media. And so silver right now is

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Speaker 1: also not on many people's radar screen. Everybody is concentrating

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Speaker 1: on gold, and I think rightfully so, I mean gold

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Speaker 1: and silver will be the store of wealth. Both of

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Speaker 1: them are real hard, hard assets that are not owned

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Speaker 1: by anybody else or not owed to anybody else. If

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Speaker 1: you own bones or stocks, it's somebody else's money. And

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Speaker 1: here we have a store of wealth, which I believe,

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Speaker 1: particularly today, under today's circumstances and what's going to happen

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Speaker 1: in the next couple of years, everybody should store a

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Speaker 1: piece of their wealth in precious metals that particularly silver

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Speaker 1: and gold. And and listeners to this show know all

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Speaker 1: too well those topics you talk about, because that's that's

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Speaker 1: what I typically talk about. So we know the reasons

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Speaker 1: why we should be owning gold and hard assets and silver.

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Speaker 1: But the one thing that silver people really like and

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Speaker 1: I've talked about before. It is back to what you mentioned,

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Speaker 1: that silver to gold ratio. Um. I think historically it's

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Speaker 1: been about fifteen. Right now, it got as high as

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Speaker 1: I think one seventeen, and right now it's about ninety

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Speaker 1: eight or something like that. Um. You see that silver

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Speaker 1: to gold ratio closing back down close to like historical levels. Yes,

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Speaker 1: that's what it should do. As I said, over time

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Speaker 1: they always moved back to the median line, and so

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Speaker 1: I believe silver should have another thirty actually run could

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Speaker 1: have it, and as we all know, at that point

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Speaker 1: the silver stalks, just like the gold stocks on their side,

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Speaker 1: the silver stocks will obviously move much much faster and

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Speaker 1: much higher. Yeah. And if you find the right ones

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Speaker 1: that have also a let's call it a resource already identified,

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Speaker 1: which we have and at the same time explorations going on,

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Speaker 1: so you have the excitement of the speculators also, that's

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Speaker 1: the best stock to be in. Yeah. Definitely. Now for

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Speaker 1: everyone seeing, UM, we're gonna kind of walk through this.

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Speaker 1: I want to hit a couple of points. We're gonna

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Speaker 1: talk about why, um read why why investing into minds

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Speaker 1: might be the best opportunity, and then we're gonna break

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Speaker 1: it down and teach you exactly what you should be

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Speaker 1: looking for, and then even make some recommendations at the end.

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Speaker 1: So make sure you stick around. Um. But back to

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Speaker 1: back to what you're saying. Yes, right, So the gold

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Speaker 1: silver ratio, it's way out of whack, and and things

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Speaker 1: do tend to go back to their median or their mean. UM.

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Speaker 1: I I have talked about where I don't really think that, um,

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Speaker 1: the historical fifteen to one probably makes sense anymore. UM,

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Speaker 1: I think we might have a higher um ratio, and

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Speaker 1: I think it might snap back and things tend to overcorrect.

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Speaker 1: Maybe we'll get to like thirty and then end up

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Speaker 1: maybe back around fifty, kind of what we saw like

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Speaker 1: in two thousand eleven, which was the other piece. But

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Speaker 1: even at that, I mean that that's a three percent move,

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Speaker 1: even at that conservative level, So some people think it's

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Speaker 1: gonna overcorrect past fifteen, which is obviously more either way.

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Speaker 1: I mean that's a three move, a five percent move,

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Speaker 1: So it's it's big either way. But in the video

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Speaker 1: that I just did, I talked about how you know,

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Speaker 1: buying the physical whether that's physical gold or physical silver,

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Speaker 1: is good because, as you said, it's hard sound money,

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Speaker 1: and we need hard sound money more than anything today

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Speaker 1: because the way that the central banks are just printing

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Speaker 1: money into bolivion. But I talked about how UM, you know,

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Speaker 1: holding the physical is good and if it snaps back

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Speaker 1: to that ratio, we could make a three time three

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Speaker 1: extra turn. But really, when you get into um the minds,

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Speaker 1: the silver mines, the silver stocks, you can have way

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Speaker 1: more what I call asymmetric, way more upside than downside. Um.

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Speaker 1: There's more risk, but there's a lot more upside potential. UM.

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Speaker 1: Talk to me, since you're a resource investing legend forty

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Speaker 1: years you've been doing this, uh, talk to me kind

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Speaker 1: of about the silver mines and and why that can

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Speaker 1: give us a way bigger return than just holding physical itself.

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Speaker 1: It's obviously true for all the prescious mentals, gold in

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Speaker 1: particular also, but the same applies to silver. Once you

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Speaker 1: have a resource in the ground, the market values that,

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Speaker 1: of course at the going silver price and your cash flow.

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Speaker 1: So if the silver price goes up, the resource in

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Speaker 1: the ground becomes more valuable, but more importantly, your cash

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Speaker 1: flow goes up and allows you then to also drill

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Speaker 1: more and hopefully find more silver or gold. It applies

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Speaker 1: to both, of course, and at that point thirty move

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Speaker 1: in the underlying based metal will obviously translate, as you said,

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Speaker 1: into a three or four or five times x on

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Speaker 1: the stock price, as we have seen also this year.

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Speaker 1: You know, all the exploration stocks got hammered in the

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Speaker 1: first couple of months, rightfully so, because nobody is able

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Speaker 1: to put a value on a resource, stop if it

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Speaker 1: hasn't really found a reserve, if it's still a resource.

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Speaker 1: But once the resource turns into a reserve and analysts

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Speaker 1: are able to figure out exactly what that reserve is worth,

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Speaker 1: and then you start to put it into production and

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Speaker 1: the cash flow accelerates as the price of the underlying

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Speaker 1: metal prices, it translates of course into a much higher

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Speaker 1: stock price. We've all seen that. And piece has happened

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Speaker 1: in the last three months now where I'm involved in

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Speaker 1: a couple of will I put money into a couple

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Speaker 1: of exploration stocks that thankfully found resources that are turning

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Speaker 1: into reserves, and I must say, on average these stocks

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Speaker 1: are up three to four times now already just in

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Speaker 1: two to three months. And I believe that this is

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Speaker 1: going to continue because as they expand the resources, which,

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Speaker 1: as I said, will return, will turn into reserves, be

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Speaker 1: the underwente lying value of the stocks are going to

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Speaker 1: attract more and more investors, and more and more mutual funds,

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Speaker 1: family offices, eventually even the E t F s. Now

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Speaker 1: what I want to I want to ask you about

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Speaker 1: something you just said. I'll comment real quickly though. So

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Speaker 1: you said that, so we've seen silver just in the

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Speaker 1: last couple of months. It's gone up by a couple

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Speaker 1: of bucks. It's you know, a couple of dollars, it's

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Speaker 1: gone up. But some of these silver stocks have gone

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Speaker 1: three or four x, so you can see the explosiveness.

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Speaker 1: But you said something. You you made a differentia differentiated

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Speaker 1: between a resource and a reserve. So is a resource

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Speaker 1: stock is one that's like an explorer, they're out looking,

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Speaker 1: and then a reserve is one that actually found deposits

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Speaker 1: and actually has a recorded amount of deposits. That's correct.

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Speaker 1: I mean they all start I was out as I mean,

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Speaker 1: they're all resource stocks because they own resources metals. But

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Speaker 1: even initially, of course, they really a couple of holes.

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Speaker 1: They find some resource and they can start extrapolating, and

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Speaker 1: that's basically pure speculation. But then once you've really enough

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Speaker 1: holes and enough holes with at this certain distance one

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Speaker 1: from each other, which is prescribed by the laws also

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Speaker 1: by the fourty three one on once and so on,

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Speaker 1: then you can actually say that now you have a reserve.

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Speaker 1: That's something that the analysts can lend value. Because the

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Speaker 1: resource you can say, okay, you know, we started finding something,

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Speaker 1: but we don't know how big it is, so you

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Speaker 1: have to keep on drilling. So the best stocks are,

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Speaker 1: of course those that have already an established reserve, but

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Speaker 1: keep on finding more so the resource grows and the

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Speaker 1: reserve can then be put into a bankable feasibility study.

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Speaker 1: You start getting money to actually build the mind and

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Speaker 1: out of that reserved, then it becomes a mind while

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Speaker 1: still continuing to grow the resource by drilling out and

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Speaker 1: finding more. But the in order to for it to

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Speaker 1: become a reserve you have to do infield drilling and

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Speaker 1: actually then you can say, okay, now we know how

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Speaker 1: much we have roughly, but the resources speculation. But that's

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Speaker 1: what you want. You want to have stocks that can

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Speaker 1: tell you that, you know, ten kilometers down, they're down

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Speaker 1: the line we found more. So therefore, maybe in between

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Speaker 1: the whole ten kilometers is full of fish metal and

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Speaker 1: that's what we all want to here. Okay, now, UM,

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Speaker 1: I'm gonna, I'm gonna I'm gonna let everybody in a

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Speaker 1: little bit of a secret here. Uh. Part of the

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Speaker 1: reason why I have the show where I invite people like, uh,

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Speaker 1: this resource legend Carlo on is so I can ask

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Speaker 1: him the questions I want to know, because I'm trying

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Speaker 1: to do my due diligence as well. And so I'm

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Speaker 1: trying to ask the questions that I want to know,

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Speaker 1: and hopefully it's the questions you would ask if you could.

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Speaker 1: And so if I have the chance to learn from

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Speaker 1: someone like you, I certainly want to. So I want

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Speaker 1: to I want to ask you now. Okay, great, So

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Speaker 1: you've kind of explained that to us, and now I

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Speaker 1: want to talk about us if we want to make

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Speaker 1: money investing into the resource stocks like you have. Um,

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Speaker 1: I'm hoping you'll give us a little bit of your

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Speaker 1: your your wealth of knowledge here. But I I in

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Speaker 1: the video I talked about investors were looking for undervalued assets, right,

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Speaker 1: We're looking for something that gives us a little bit

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Speaker 1: of an edge we can get in here. But we

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Speaker 1: think it could be worth a lot more. And obviously,

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Speaker 1: I well, in that video, I gave two different examples,

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Speaker 1: one of a company that we invested in before and

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Speaker 1: it's ran up and we've made good money there. And

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Speaker 1: then I gave an example of of klin x um

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Speaker 1: how I thought maybe it's undervalued right now? And I

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Speaker 1: gave a couple of reasons. One because maybe the trade

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Speaker 1: wars the Terra Force have caused it to come down

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Speaker 1: COVID as well um the exchange right now, what we're

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Speaker 1: seeing the dollar getting strong, and and I kind of

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Speaker 1: gave a couple of reasons that I was thinking, maybe

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Speaker 1: caln X is undervalue right now? Uh tell me and

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Speaker 1: you am I looking at the right things? Is it

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Speaker 1: undervalued in my off base? I mean, what am I

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Speaker 1: looking at here? How should we look at this as

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Speaker 1: an investor? Well, I definitely think it's an undervalued exploration play.

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Speaker 1: And let me go back to the beginnings. You know

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Speaker 1: this was spun out. We were big invent stores in

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Speaker 1: a company called Kelly name of mine, where we did

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Speaker 1: exactly what we're doing now with Kelly Nex. We had

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Speaker 1: a couple of exploration plays. We invested, we drilled more,

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Speaker 1: we found the mine and we sold Kelly Nan at

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Speaker 1: the time had a very good profit, and we took

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Speaker 1: out all the exploration properties and put to me to

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Speaker 1: Kelly next and we found a very good CEO, Max Porterfield,

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Speaker 1: who is very very dedicated, I must say, like very

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Speaker 1: much what he does. And he has found a couple

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Speaker 1: of properties where on each one in order to find

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Speaker 1: what which one really deserves to be fully explored. We

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Speaker 1: have at least three properties that we drilled a couple

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Speaker 1: of holes and found initially more zinc, and the company

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Speaker 1: was actually concentrating on zinc and also copper. And meanwhile,

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Speaker 1: in the last couple of months or in the last

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Speaker 1: twelve months, let's say, the company concentrated more on or

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Speaker 1: maybe by by chance, also stumbled upon some silver and

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Speaker 1: gold properties. And for example, you can read it in

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Speaker 1: the news releases. There's a Nash Creek property where we

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Speaker 1: drilled two holes and one was in the south the

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Speaker 1: southern part, and one in the northern part, and they're

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Speaker 1: like eighteen kilometers apart on a trend, on a fault

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Speaker 1: which funny enough, had never been explored before. And we

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Speaker 1: found very good silver grades not far from the surface.

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Speaker 1: So it's actually it could be open pitable, which means

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Speaker 1: we can just take it, uh and and basically scraped

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Speaker 1: it from at the top. We don't have to go

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Speaker 1: down and build big tunnels. So it makes it very

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Speaker 1: cheap to mine. And it was quite an experience to

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Speaker 1: find those two holes, and we would probably need to

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Speaker 1: drill another ten holes. We have the money to do it,

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Speaker 1: but then we would actually come across with a nice resource.

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Speaker 1: And then just looking at my notes here it's a

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Speaker 1: geochemically very altered, very old rock. We she is exactly

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Speaker 1: what you're looking for when you're looking for metals. We're

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Speaker 1: going to do another sampling program now over the whole fault,

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Speaker 1: which will show us and tell us where to drill

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Speaker 1: the next holes. And uh, that's going to be done

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Speaker 1: in one handed meat spacing, so we will have a

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Speaker 1: very very good picture of the whole fault. And then

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Speaker 1: we have sort of So if I'm getting this right,

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Speaker 1: then right, I'm trying to learn from you and try

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Speaker 1: to understand how you look at this. You're looking for Obviously,

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Speaker 1: being a resource investor, you're looking for something that has

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Speaker 1: a very good chance of hitting something big. They haven't

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Speaker 1: yet because by the time they do hit something big.

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Speaker 1: Then they're they're they're too expensive, so you so you're

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Speaker 1: trying to get in a little bit earlier. But they

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Speaker 1: have a really good chance. And the some of the properties, um,

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Speaker 1: that we would be looking for to find that undervalued

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Speaker 1: property to find if they have a good chance, would

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Speaker 1: be um, some of the properties you've just given me

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Speaker 1: with calin x right, like, uh, they're like an old

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Speaker 1: existing mind. Um, they're in a really good area on

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Speaker 1: old rock as you call it. They've drilled a couple

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Speaker 1: of holes and have found some really good results from

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Speaker 1: those couple holes, and so all of that, and and

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Speaker 1: they have the money to even continue to drill um.

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Speaker 1: So all of those things make you think that there's

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Speaker 1: a really good chance they're going to be able to

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Speaker 1: succeed joining more holes, find more resources, which is going

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Speaker 1: to give you that growth that you want. Am I

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Speaker 1: write something that up correct and you know, let's go Pakistan.

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Speaker 1: I mean initially, uh, telling X was concentrating on zinc

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Speaker 1: and was concentrating on the flin Flont area, which is

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Speaker 1: where Hudson Bay as their mill and we did find

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Speaker 1: some very good results there too on the zinc. And

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Speaker 1: the idea was of course, and still is that we're

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Speaker 1: going to continue drilling there too. And the latest holes

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Speaker 1: were which were drilled in in January, actually returned some

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Speaker 1: very good results. We know there is a very high

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Speaker 1: like seventeen percent zinc, there's some gold, there's some speller

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Speaker 1: rite which means there is zinc, and we also found

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Speaker 1: some traces of copper. So it's actually be coming more

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Speaker 1: and more exciting. And knowing that hout Bay, sorry hout

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Speaker 1: Bay is has to shut down their mill in two

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Speaker 1: thousand and twenty two they've run out of or well,

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Speaker 1: you know, if we find enough or to keep that

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Speaker 1: mill going. And by the way, hot Bay is facing

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Speaker 1: a huge amount of the reclamation charges from environmental damages.

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Speaker 1: So what would be best would be if we find

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Speaker 1: enough or hot Bay can actually either become a joint

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Speaker 1: venture partner or maybe they would even take over the company.

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Speaker 1: But that was the old calin X. Now, meanwhile, having drilled,

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Speaker 1: as I said, on the Nash Creek, we all of

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Speaker 1: a sudden to find silver, and in one of the

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Speaker 1: other properties we found actually gold, some copper somethink. So

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Speaker 1: all of a sudden, we're moving now to become a

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Speaker 1: precious metal company. Which, of course, under today's circumstances, much

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Speaker 1: more exciting than be in zinc and copper company, which

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Speaker 1: is exactly why the stock price was depressed or is depressed.

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Speaker 1: And that's why I believe in a rerating of the company,

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Speaker 1: because as we continue to drill, and as we continue

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Speaker 1: to find silver now and gold, people are going to

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Speaker 1: look at a counting edge as being a totally different company.

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Speaker 1: So that's a good point, UM. I thinking that's a

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Speaker 1: good point. I think typically with silver specifically UM, silver

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Speaker 1: comes out as a byproduct, right Typically you're trying to

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Speaker 1: get copper or zinc, but then you're getting silver as well.

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Speaker 1: But then some minds can then actually switch over where

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Speaker 1: silver becomes the primary. And I think that's kind of

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Speaker 1: what you're saying, if I'm right. And and given the

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Speaker 1: fact that precious metals is hot right now, zinc and

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Speaker 1: copper because the economy is going down, zinc and copper

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Speaker 1: won't be in his big demand potentially UM. But with

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Speaker 1: the economy going down, silver will go open demand UM.

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Speaker 1: So it's a perfect switch, I guess, is that what

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Speaker 1: I'm hearing? Yes? And you know, I still I do

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Speaker 1: believe that they call him is not going to do

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Speaker 1: too well here for the next months, maybe until next year.

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Speaker 1: But interestingly enough, copper is actually showing a good resilience,

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Speaker 1: and the copper stops that we own that are pure

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Speaker 1: copper stops have actually for example, if I mentioned the

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Speaker 1: first quantum, you know, illus trading at first fourteen dollars

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Speaker 1: in December, went down to six is back now above thirteen.

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Speaker 1: So obviously people are looking across the valley into two

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Speaker 1: thousand and twenty one. So I'm still quite positive on

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Speaker 1: the zinc and copper, and particularly on our flint flowing property.

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Speaker 1: But that's the old canonics. As I said, we will

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Speaker 1: pursue that, of course, because it's without baby being close by.

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Speaker 1: That's exciting. But the excitement now is really to find

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Speaker 1: these precious metals, because that's what the future will be

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Speaker 1: bringing to us. People will need to have some of

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Speaker 1: their assets stored in precious metals, and that's a storage sorry,

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Speaker 1: that's for the storage of your wealth, right. But meanwhile,

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Speaker 1: in order to accumulate wealth, you need to be in

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Speaker 1: the stocks, right, which are going to give you much

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Speaker 1: more leverage then only the pure mental I mean, that's

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Speaker 1: such a great point, that's such a great point that

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Speaker 1: you just made right there. I want to just kind

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Speaker 1: of go back on that because on my channel, when

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Speaker 1: I talk about gold or I talk about silver, I

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Speaker 1: get all the people to come out and say, no,

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Speaker 1: you have to have physical. If you don't, if you

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Speaker 1: don't have it in your safe, then it's not yours.

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Speaker 1: And I do agree on that. And in that end

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Speaker 1: of world scenario, yes, you want to have physical, as

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Speaker 1: you said, but we invest into gold and silver stocks

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Speaker 1: for the growth, so you get growth, and then you

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Speaker 1: can take some of those profits and then get the

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Speaker 1: physical and stick it in your safe. UM. So you

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Speaker 1: buy them for different reasons. One is yeah, for end

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Speaker 1: of world scenario, I have the physical, and one is

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Speaker 1: for growing, growing what I have. So that's a great point.

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Speaker 1: One one other point I want to add kind of

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Speaker 1: to what you're saying. UM. And so you know, obviously

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Speaker 1: with the central banks inflating the currencies to no end

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Speaker 1: um and they're losing value. UM. Yes, it is going

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Speaker 1: to drive precious metals gold and silver, but I believe

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Speaker 1: that it's also going to drive all commodities, which is

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Speaker 1: the copper and the zinc as well, because people are

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Speaker 1: going when when money is worth nothing, the only thing

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Speaker 1: is gonna be worth something is real hard things, like

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Speaker 1: real things like commodities. Right. So, um, even if the

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Speaker 1: economy goes down, I think copper and zinc could still

427
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Speaker 1: do good just because they're they're real assets as opposed

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Speaker 1: to fake money. Right. So one other point that I

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Speaker 1: would like to ask you, because in the video I

430
00:23:31,400 --> 00:23:33,879
Speaker 1: had talked about why I thought it was undervalued, and

431
00:23:34,000 --> 00:23:36,320
Speaker 1: I'm not. I'm not near as good at that looking

432
00:23:36,359 --> 00:23:38,200
Speaker 1: at these things as I thought I was. Maybe, Uh,

433
00:23:38,400 --> 00:23:40,840
Speaker 1: I just I don't know all the different areas and like, Okay,

434
00:23:40,840 --> 00:23:42,560
Speaker 1: this area should do better than that area, and so

435
00:23:42,600 --> 00:23:44,879
Speaker 1: maybe I need to learn my mining area is a

436
00:23:44,880 --> 00:23:47,080
Speaker 1: little bit better. But um, what I was looking at

437
00:23:47,280 --> 00:23:50,399
Speaker 1: was this this, uh the p e A, which is

438
00:23:50,440 --> 00:23:53,640
Speaker 1: basically your preliminary report which shows you know how much

439
00:23:53,640 --> 00:23:56,160
Speaker 1: silver could be in the ground. And um, it gave

440
00:23:56,160 --> 00:23:57,879
Speaker 1: like a value of like a hundred and twenty million

441
00:23:57,880 --> 00:24:00,080
Speaker 1: dollars or whatever. And I understand that that is a

442
00:24:00,200 --> 00:24:02,960
Speaker 1: very preliminary as as the name is, and so it's

443
00:24:02,960 --> 00:24:06,240
Speaker 1: not like the official report. Um, but I mean it's

444
00:24:06,480 --> 00:24:09,399
Speaker 1: way bigger than the market cap of the company. So

445
00:24:09,480 --> 00:24:11,679
Speaker 1: for me, I thought, we'll shoot you know, if you

446
00:24:11,720 --> 00:24:14,439
Speaker 1: have the if the pad and twenty million, but the

447
00:24:14,440 --> 00:24:18,320
Speaker 1: market cap is only ten, that's a pretty good opportunity. Um,

448
00:24:18,520 --> 00:24:20,600
Speaker 1: what is the p A Am I looking at that right?

449
00:24:20,680 --> 00:24:22,920
Speaker 1: Or should we be looking for different metrics? Oh? I

450
00:24:22,960 --> 00:24:25,239
Speaker 1: think you're looking at the right metrics. But I do

451
00:24:25,359 --> 00:24:27,600
Speaker 1: also believe you know, this is very preliminary. I mean

452
00:24:27,600 --> 00:24:29,879
Speaker 1: it's based on just a couple of holes, and I

453
00:24:29,920 --> 00:24:31,760
Speaker 1: think I said that we're going to need to drill

454
00:24:31,840 --> 00:24:35,680
Speaker 1: at least ten holes here over the next couple of months. Uh.

455
00:24:35,720 --> 00:24:39,320
Speaker 1: And again, this is a totally new area, totally new

456
00:24:39,400 --> 00:24:42,760
Speaker 1: fault that has never been explored before, and we we

457
00:24:42,920 --> 00:24:45,520
Speaker 1: just happened to sink two holes into it and they

458
00:24:45,560 --> 00:24:48,520
Speaker 1: came up with a lot of silver. So nobody knows

459
00:24:48,560 --> 00:24:50,159
Speaker 1: how much it's going to be there. I mean, this

460
00:24:50,280 --> 00:24:53,400
Speaker 1: is really, as you said, very preliminary. I think it's

461
00:24:53,400 --> 00:24:56,560
Speaker 1: going to be much more. That's the way, Uh, these

462
00:24:57,160 --> 00:25:01,679
Speaker 1: these resource resources come up. I believe back in the

463
00:25:01,760 --> 00:25:05,640
Speaker 1: canionand days, sorry, back in the Canian days, we were

464
00:25:06,160 --> 00:25:09,680
Speaker 1: and we still are. With Mike Muzubowski who is on

465
00:25:09,840 --> 00:25:12,960
Speaker 1: a legend of his own as geologist, and he found

466
00:25:13,520 --> 00:25:16,320
Speaker 1: in the same area in the flame frount area many

467
00:25:16,359 --> 00:25:19,399
Speaker 1: many years ago, back in nine eighties, he found a

468
00:25:19,400 --> 00:25:22,360
Speaker 1: couple of minds and he would always tell us that

469
00:25:22,440 --> 00:25:25,920
Speaker 1: when you find one of these minds, uh, there's usually

470
00:25:25,960 --> 00:25:29,320
Speaker 1: around four or five other are bodies lying around there.

471
00:25:29,440 --> 00:25:32,479
Speaker 1: So I would hope that maybe here also we can

472
00:25:32,520 --> 00:25:36,399
Speaker 1: look at finding one big resource on this fall and

473
00:25:36,440 --> 00:25:39,199
Speaker 1: then go further down because as I said, this is

474
00:25:39,280 --> 00:25:42,840
Speaker 1: quite close to the surface, which will make mining very

475
00:25:42,880 --> 00:25:45,880
Speaker 1: easy and very cheap. But there should be other ore

476
00:25:45,960 --> 00:25:49,520
Speaker 1: bodies around there. And so that's one. But you know,

477
00:25:49,960 --> 00:25:55,440
Speaker 1: as you probably know, we have another property the Point Leavington,

478
00:25:55,600 --> 00:25:58,040
Speaker 1: which where we found a lot of gold at the

479
00:25:58,080 --> 00:26:01,359
Speaker 1: same time and sinc and comp and that seems to

480
00:26:01,440 --> 00:26:04,119
Speaker 1: be and this is highly speculty of course at this point,

481
00:26:04,200 --> 00:26:07,320
Speaker 1: but it could be a one billion dollar value in

482
00:26:07,359 --> 00:26:10,440
Speaker 1: the ground. Now again this is just would be a resource.

483
00:26:10,560 --> 00:26:12,920
Speaker 1: We will need a lot more drilling, we will need

484
00:26:12,960 --> 00:26:15,800
Speaker 1: to go to the banking bank, abile feasibility and all that.

485
00:26:16,000 --> 00:26:18,399
Speaker 1: So in the end the net net result will be

486
00:26:18,440 --> 00:26:21,200
Speaker 1: maybe a couple of hundred million dollars of net profits.

487
00:26:21,760 --> 00:26:24,000
Speaker 1: But again, if you add all of that together, this

488
00:26:24,080 --> 00:26:27,520
Speaker 1: is a very very undervalued company. It basically has not

489
00:26:27,720 --> 00:26:31,680
Speaker 1: recovered because everybody thought it was a sink company. Whereas

490
00:26:31,680 --> 00:26:34,600
Speaker 1: now as I said before, you have to re rate

491
00:26:34,680 --> 00:26:38,040
Speaker 1: it and look upon it as a precious metal company. Yeah,

492
00:26:38,280 --> 00:26:41,720
Speaker 1: and so the this is one stock that could actually

493
00:26:41,760 --> 00:26:47,040
Speaker 1: really give multiple x returns. Yeah. Now, um, that's a

494
00:26:47,080 --> 00:26:49,080
Speaker 1: that's a great point that I want to transition into

495
00:26:49,119 --> 00:26:51,159
Speaker 1: because in the video, again I keep referencing if you

496
00:26:51,200 --> 00:26:52,639
Speaker 1: haven't if you haven't watched the video, you should go

497
00:26:52,680 --> 00:26:54,240
Speaker 1: back and watch it because I really kind of give

498
00:26:54,240 --> 00:26:56,359
Speaker 1: the big picture here on on what how you should

499
00:26:56,359 --> 00:26:59,359
Speaker 1: be looking at this. But I talked about Paul Tutor Jones,

500
00:26:59,400 --> 00:27:01,280
Speaker 1: one of the best, you know, big best investors in

501
00:27:01,280 --> 00:27:03,640
Speaker 1: the world, billionaire, and he kind of has a strategy

502
00:27:03,680 --> 00:27:06,040
Speaker 1: of five to one. He won't invest a dollar unless

503
00:27:06,080 --> 00:27:08,520
Speaker 1: he thinks he can get five dollars back. And these

504
00:27:08,520 --> 00:27:11,840
Speaker 1: are asymmetric returns. And the reason why is because if

505
00:27:11,880 --> 00:27:15,000
Speaker 1: he loses, you know, on to two dollars, I mean

506
00:27:15,040 --> 00:27:16,560
Speaker 1: he on the next deal, he can still make three,

507
00:27:16,640 --> 00:27:20,040
Speaker 1: or he could potentially lose four deals and still be

508
00:27:20,080 --> 00:27:23,040
Speaker 1: profitable four out he could lose four out of five.

509
00:27:23,160 --> 00:27:24,600
Speaker 1: So that's kind of what we're looking at, and that's

510
00:27:24,600 --> 00:27:26,880
Speaker 1: why I like silver, That's why I like silver mines

511
00:27:26,960 --> 00:27:29,639
Speaker 1: or gold mines as well. So obviously this is you know,

512
00:27:29,760 --> 00:27:32,399
Speaker 1: going into resource investing is risky, but you have this

513
00:27:32,480 --> 00:27:34,920
Speaker 1: big upside and so you could be wrong on four

514
00:27:34,960 --> 00:27:37,359
Speaker 1: and still make money on the fifth. Do you do

515
00:27:37,440 --> 00:27:40,520
Speaker 1: you follow a similar philosophy, I mean being a resource investor.

516
00:27:40,520 --> 00:27:42,199
Speaker 1: Do you think this has a five x you know,

517
00:27:42,320 --> 00:27:45,439
Speaker 1: five x wepside or or even more? Actually I do.

518
00:27:45,960 --> 00:27:49,439
Speaker 1: My philosopy has always been and when I in the beginning,

519
00:27:49,440 --> 00:27:51,639
Speaker 1: when I used to be still a money manager for

520
00:27:51,720 --> 00:27:56,320
Speaker 1: third parties and we were concentrating exclusively on the resource stalks,

521
00:27:56,400 --> 00:27:58,480
Speaker 1: I would always tell my clients that you have to

522
00:27:58,560 --> 00:28:02,080
Speaker 1: invest in ten differents dogs and those three are going

523
00:28:02,160 --> 00:28:06,720
Speaker 1: to go down, three are gonna do okay, and four

524
00:28:06,800 --> 00:28:09,440
Speaker 1: are going to go through the roof. Unfortunately, I don't

525
00:28:09,480 --> 00:28:12,280
Speaker 1: know which ones are which, so we have to buy

526
00:28:12,320 --> 00:28:15,280
Speaker 1: them all and as they continue to build or they

527
00:28:15,320 --> 00:28:17,680
Speaker 1: continue to grow, you can actually then make your own

528
00:28:17,680 --> 00:28:20,720
Speaker 1: decision on which ones you have to sell. And normally

529
00:28:22,480 --> 00:28:26,199
Speaker 1: resource companies of this at this stage don't go bankrupt,

530
00:28:26,240 --> 00:28:29,520
Speaker 1: I mean they become made another shell. You will still

531
00:28:29,560 --> 00:28:32,560
Speaker 1: have some valley left. But then the four that goes

532
00:28:32,560 --> 00:28:35,720
Speaker 1: through the roof will make up much more than for

533
00:28:35,760 --> 00:28:39,280
Speaker 1: all the losses. And so this is exactly why we're

534
00:28:39,280 --> 00:28:44,280
Speaker 1: in kelin X. This has the potential to become at

535
00:28:44,360 --> 00:28:47,120
Speaker 1: least the five X even from this level now. And

536
00:28:47,160 --> 00:28:52,240
Speaker 1: I think we have done this very successfully over forty years. Obviously,

537
00:28:52,320 --> 00:28:55,120
Speaker 1: as you just said, you know, you always find also

538
00:28:55,200 --> 00:28:59,240
Speaker 1: one that doesn't make it and doesn't find the final

539
00:28:59,280 --> 00:29:02,600
Speaker 1: resource which can turn into reserve. But here I am

540
00:29:02,680 --> 00:29:04,840
Speaker 1: very confident that we're on the right track. And again

541
00:29:04,960 --> 00:29:08,480
Speaker 1: we you know, really you have to believe also in management,

542
00:29:08,600 --> 00:29:11,840
Speaker 1: and we do have the right management. Wow. I love

543
00:29:11,920 --> 00:29:13,600
Speaker 1: what you just said right there, and I think that's

544
00:29:13,760 --> 00:29:16,840
Speaker 1: a great transition for us UM. And you know, I

545
00:29:16,840 --> 00:29:19,600
Speaker 1: I warned, uh, I warned my viewers all the time

546
00:29:19,920 --> 00:29:22,600
Speaker 1: to watch out for what we know as confirmation bias,

547
00:29:22,640 --> 00:29:25,360
Speaker 1: which is always looking for information that backs up what

548
00:29:25,400 --> 00:29:28,840
Speaker 1: we think are bias. Right, and UM, what you said

549
00:29:28,920 --> 00:29:30,960
Speaker 1: kind of backs up my bias, but it also confirms

550
00:29:30,960 --> 00:29:33,640
Speaker 1: what I say all the time, which is UM having

551
00:29:33,680 --> 00:29:36,640
Speaker 1: that strategy and and it's really about you know, diversifying

552
00:29:36,680 --> 00:29:39,480
Speaker 1: a little bit and UM, you know, having that asymmetric return.

553
00:29:39,520 --> 00:29:40,680
Speaker 1: So you backed it up, and I just want to

554
00:29:40,720 --> 00:29:43,160
Speaker 1: kind of reinforce that to everybody when you are going

555
00:29:43,240 --> 00:29:46,680
Speaker 1: into risk your assets, whether whether that be a cryptocurrency

556
00:29:46,840 --> 00:29:49,080
Speaker 1: or a silver mine or whatever it is, it's okay

557
00:29:49,080 --> 00:29:51,239
Speaker 1: to swing for the fences, but you need to have

558
00:29:51,280 --> 00:29:54,080
Speaker 1: a strategy around it. So as Carlo, as you just said, right,

559
00:29:54,120 --> 00:29:56,680
Speaker 1: you would advise your clients to go into tend because

560
00:29:57,000 --> 00:29:58,920
Speaker 1: a couple will do bad and a couple will do good,

561
00:29:59,120 --> 00:30:02,600
Speaker 1: and so, UM, just understand that there's risk involved. Understand

562
00:30:02,680 --> 00:30:03,920
Speaker 1: that you should go into it with a little bit

563
00:30:03,920 --> 00:30:05,680
Speaker 1: of a strategy. So you might want to play a

564
00:30:05,680 --> 00:30:07,600
Speaker 1: couple of positions and not just try to pick one

565
00:30:07,720 --> 00:30:09,640
Speaker 1: because you know the chance of getting that one right

566
00:30:09,840 --> 00:30:13,000
Speaker 1: may may not work out. But UM, anyway, great advice, Harder,

567
00:30:13,040 --> 00:30:15,120
Speaker 1: I appreciate you sharing that with us. Um, is there

568
00:30:15,120 --> 00:30:18,120
Speaker 1: anything left that you want to mention? No, I think

569
00:30:18,440 --> 00:30:20,160
Speaker 1: you mentioned it. I think in the beginning. You know,

570
00:30:20,200 --> 00:30:25,479
Speaker 1: we are certainly in very strange times. The national banks

571
00:30:25,480 --> 00:30:30,800
Speaker 1: are reflating the printing and pushing billions or actually thrillions

572
00:30:30,800 --> 00:30:35,480
Speaker 1: of dollars or euros or whatever into the market. Most

573
00:30:35,520 --> 00:30:37,920
Speaker 1: of it has found its way into the stock market

574
00:30:38,040 --> 00:30:43,640
Speaker 1: right now, which is incredible or an incredible hates and

575
00:30:43,680 --> 00:30:45,680
Speaker 1: I think we're in the bubble. But at the same time,

576
00:30:45,720 --> 00:30:49,680
Speaker 1: it also means that the countries have put on so

577
00:30:49,760 --> 00:30:52,920
Speaker 1: much debt that in my opinion, none of the country

578
00:30:52,920 --> 00:30:55,920
Speaker 1: is basically none around the world, maybe with the exception

579
00:30:56,000 --> 00:31:00,560
Speaker 1: of Switzerland, which I hope being Swiss, that no, no,

580
00:31:00,560 --> 00:31:03,680
Speaker 1: no contest will be able to repay these debts. Right

581
00:31:03,880 --> 00:31:07,760
Speaker 1: not even our children, not even our grandchildren or my grandchildren,

582
00:31:07,760 --> 00:31:10,440
Speaker 1: will be able to repay these debts. So eventually something

583
00:31:10,520 --> 00:31:12,200
Speaker 1: has to give, and I think at that point you

584
00:31:12,240 --> 00:31:15,480
Speaker 1: want to hang on to hard answers, as you mentioned before.

585
00:31:15,640 --> 00:31:18,280
Speaker 1: But in the meantime, there's still time to make money

586
00:31:18,360 --> 00:31:20,960
Speaker 1: on the bubble and buying all these resource stocks. And

587
00:31:21,080 --> 00:31:25,160
Speaker 1: right now we're in a funny market where strange enough,

588
00:31:25,240 --> 00:31:27,640
Speaker 1: in just in the last couple of months, a lot

589
00:31:27,680 --> 00:31:30,960
Speaker 1: of Canadian companies that I follow have actually found or

590
00:31:31,040 --> 00:31:36,040
Speaker 1: made very good drill results and have triple quadruple. And

591
00:31:36,080 --> 00:31:38,760
Speaker 1: I think that's what's going to happen to Kelly next

592
00:31:38,760 --> 00:31:41,560
Speaker 1: two And I certainly put my money where my mouth says.

593
00:31:41,720 --> 00:31:43,680
Speaker 1: And I had a couple other questions I wanted to

594
00:31:43,680 --> 00:31:45,680
Speaker 1: get to, but I know we're running out of time,

595
00:31:45,720 --> 00:31:47,640
Speaker 1: and I'm gonna respect your time. I really appreciate you

596
00:31:47,720 --> 00:31:49,479
Speaker 1: giving us the amount of time that you already have.

597
00:31:49,760 --> 00:31:52,160
Speaker 1: Anytime I can sit down with someone with your drag record,

598
00:31:52,240 --> 00:31:54,600
Speaker 1: I just uh, I'm just so grateful and I I

599
00:31:54,680 --> 00:31:58,360
Speaker 1: and I really appreciate that. Um, So I'll table. I'll

600
00:31:58,360 --> 00:32:01,480
Speaker 1: table the rest of my questions for another time. But UM,

601
00:32:01,520 --> 00:32:03,360
Speaker 1: I'm gonna put some links in the show notes down

602
00:32:03,360 --> 00:32:05,560
Speaker 1: below in the description so you can find out more

603
00:32:05,560 --> 00:32:08,560
Speaker 1: about Colin X. Um Carlo, is there anywhere that you

604
00:32:08,600 --> 00:32:11,560
Speaker 1: want people to go to follow you or to find

605
00:32:11,640 --> 00:32:13,920
Speaker 1: out more about the company? Uh? No, I mean callin

606
00:32:14,120 --> 00:32:17,040
Speaker 1: X traits on the Canadian Stock Exchange saying but we'll

607
00:32:17,040 --> 00:32:20,560
Speaker 1: see an X and Max sports the field. The CEO

608
00:32:20,640 --> 00:32:24,040
Speaker 1: will be more than happy to field questions and so emails.

609
00:32:24,240 --> 00:32:26,200
Speaker 1: And I actually urge you to do it because you

610
00:32:26,200 --> 00:32:29,480
Speaker 1: should always do your own research as well. That's a

611
00:32:29,480 --> 00:32:31,720
Speaker 1: great point. And I always encourage everyone to do their

612
00:32:31,720 --> 00:32:34,360
Speaker 1: owndue diligence and and I have the ability to get

613
00:32:34,360 --> 00:32:37,160
Speaker 1: someone like Carlo on to talk talk, but everybody can

614
00:32:37,200 --> 00:32:39,760
Speaker 1: reach out to the company directly and ask questions as well.

615
00:32:39,800 --> 00:32:42,000
Speaker 1: And so you should always do that. So yeah, if

616
00:32:42,000 --> 00:32:43,720
Speaker 1: you have more questions, reach out to them directly. I

617
00:32:43,720 --> 00:32:45,880
Speaker 1: always encourage people to do that. UM, and I guess

618
00:32:45,920 --> 00:32:48,200
Speaker 1: we'll sign off with that again. Carlo, thank you so much.

619
00:32:48,200 --> 00:32:51,320
Speaker 1: I really appreciate your time and uh a pleasure. We'll

620
00:32:51,360 --> 00:32:53,480
Speaker 1: talk later, thank you, Okay,