
Stephen Gray
Dyer and astronomer
7
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Sep 3, 2026
Fox Tungsten Builds Financial Strength While Advancing a High-Grade Western Tungsten Project
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Tracy HughesHOST
OK, so are you getting a lot of reach out from, I'm assuming, government officials?

Stephen GrayGUEST
We do have what is, to my knowledge, the highest tungsten resource in the world.

Stephen GrayGUEST
And to put that into context, what that means, 1% tungsten is the equivalent of about 22 grams per ton gold or 25% copper.

Stephen GrayGUEST
So it's an incredibly high-grade resource, and we're drilling now to expand it.

Stephen GrayGUEST
To get back to your question, yes, we have had interest from both the US and Canadian governments.

Tracy HughesHOST
And if you can hit some of those high points for us, we would really appreciate it, Stephen.
"Blasphemy by the back door": Ex cop convicted for Facebook post
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4:16Connie ShawHOST
And so the fact that it was your neighbour who'd made this complaint to the police, was there a previous sort of disagreement going on in the neighbourhood?

Stephen GrayGUEST
The little place where we live, there's just seven houses and we have some communal land and we don't have online sewerage, we don't have online gas.
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17:10Toby YoungADVERTISER
just
Fox Tungsten's 20,000 Metre Drill Program Is Underway, PEA Due in '27
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2:08MichaelHOST
Uh, talk about the drill program.

Stephen GrayGUEST
Uh, we're targeting to drill twenty thousand meters this summer, um, which to put that into context, that will roughly double the amount of drilling that's ever happened on this property historically.

Stephen GrayGUEST
It's the biggest drill program we've ever done, um, and we're extremely optimistic.
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3:41MichaelHOST
Uh, can you talk a little bit about that more, what you can infer from that?
Beyond the Veil: What Real Near-Death Experiences Reveal About the Afterlife
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25:51TruthSeekahHOST
And I'm not even done with the film yet, so.

Stephen GrayGUEST
I think, yeah, you're going to, there's a lot to kind of take away with Howard's story.

Stephen GrayGUEST
Um, yeah, no, it's, um, I found it very, uh, incredible to be honest with you hearing so many different people, you know, firsthand interviewing a lot of these people in the film, I think we, we included about 14 people's near to the experiences and it's, it's, you know, in, in a single film, it's hard to, you know, you want to allow space for the right story to hit and get deep enough with certain people that you can't explore all the stories with the same depth.

Stephen GrayGUEST
But still, the intention was always this chorus of voices talking about things that are overlapping.
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42:22speaker_3ADVERTISER
know you must have been a bad person right so
Fox Tungsten (TSXV:FOXT) - High-Grade BC Project Targets 3Mt Resource in 20,000m Drill Push
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1:30Matthew GordonHOST
What do you need to prove up? Is it gonna be, um, size, scale, continuity? What are, what are you aiming for?

Stephen GrayGUEST
So I mean, that's the catch, right? We, we talk a lot about grade, and the grade here is incredibly high.

Stephen GrayGUEST
Uh, and just to put that into context, 'cause nobody knows what 1% tungsten means, but at spot prices, 1% tungsten is the equivalent of about 20 grams per ton gold or 25% copper.

Stephen GrayGUEST
Um, so this is an incredibly high-grade deposit, and it's outcropping at surface.
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24:28Matthew GordonHOST
So again, looking to some of the companies that come on here, they talk, talk a good game and they, they, they, they wanna own the world, you know? So do you say, look, the, the, the concentrate market is good, it is strong, or is there some hope of a larger opportunity around downstream processing or inserting yourself into allied supply chains, e- e- et cetera? What, what are, what are you built for?
Fox Tungsten Advances One of the World's Highest-Grade Tungsten Projects as Fundamentals Strengthen
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2:13TracyHOST
So where should we start? The new team and how you brought them together or the drilling program?

Stephen GrayGUEST
Uh, and so there's, you know, some growing pains associated with that, but I think operations have stabilized.

Stephen GrayGUEST
Now the team has stabilized, um, from top to bottom, we have a very experienced team in place.
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3:48TracyHOST
Can you talk to us a little bit about how the Tungsten price is actually faring right now?
This Metal Quietly Up 10x Since 2025 and We're Still in Early Innings: Stephen Gray
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7:30Jesse DayHOST
Can you provide some highlights in terms of milestones achieved so far, plans for the future, and strategy for both projects?

Stephen GrayGUEST
Uh, so there's about twenty thousand meters of drilling have been done on this project historically to, to build that resource.
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8:58Jesse DayHOST
How much cash is on the balance sheet? How much runway does that give you, and how do you plan to raise more capital as needed moving forward? You mentioned you recently raised some capital under the Critical Mineral Exploration Tax Credit in Canada, which is great, um, but how much runway does this all give you, and what are the plans for, for raising more cash?