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Stephen Gray

Stephen Gray

Dyer and astronomer

Sep 3, 2026

1:19
OK, so are you getting a lot of reach out from, I'm assuming, government officials?
1:25
Yeah, that's right.
1:26
We do have what is, to my knowledge, the highest tungsten resource in the world.
1:31
We're a little over 1% tungsten.
1:33
And to put that into context, what that means, 1% tungsten is the equivalent of about 22 grams per ton gold or 25% copper.
1:42
So it's an incredibly high-grade resource, and we're drilling now to expand it.
1:47
To get back to your question, yes, we have had interest from both the US and Canadian governments.
4:16
And if you can hit some of those high points for us, we would really appreciate it, Stephen.
4:16
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?
4:26
Yes.
4:27
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.
4:38
So we have a limited company just to look after the communal areas.
4:42
And I volunteer to do all the paperwork and everything.
4:46
And we have to pay for our sewerage services.
4:48
And I gave the man the bill when he first moved in.

12 MINS LATER

Toby YoungADVERTISER
17:10
just
MichaelHOST
2:08
Uh, talk about the drill program.
2:11
The drill program is going very well.
2:13
Um, so as you said, we have two drills turning as we speak.
2:16
We've been operating for about a month.
2:18
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.
2:29
Um, so this is a very large drill program.
2:31
It's the biggest drill program we've ever done, um, and we're extremely optimistic.
MichaelHOST
3:41
Uh, can you talk a little bit about that more, what you can infer from that?
TruthSeekahHOST
25:51
And I'm not even done with the film yet, so.
25:53
Oh, I can't wait for you to get through the rest, especially Howard's story.
25:56
I think, yeah, you're going to, there's a lot to kind of take away with Howard's story.
26:00
You know, three quarters of the way through the movie is a big moment.
26:03
I'm excited for you to get through that.
26:05
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.
26:32
But still, the intention was always this chorus of voices talking about things that are overlapping.

16 MINS LATER

speaker_3ADVERTISER
42:22
know you must have been a bad person right so
1:30
What do you need to prove up? Is it gonna be, um, size, scale, continuity? What are, what are you aiming for?
1:36
That's right.
1:36
So I mean, that's the catch, right? We, we talk a lot about grade, and the grade here is incredibly high.
1:42
Um, so our average deposit grade is about 1% tungsten.
1:46
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.
1:57
Um, so this is an incredibly high-grade deposit, and it's outcropping at surface.
2:02
Uh, but what we're missing, you're right, is, is scale.

22 MINS LATER

24:28
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?
TracyHOST
2:13
So where should we start? The new team and how you brought them together or the drilling program?
2:19
Uh, I'm very proud of the team we've put together.
2:21
There has been a lot of changeover.
2:24
Uh, and so there's, you know, some growing pains associated with that, but I think operations have stabilized.
2:29
Now the team has stabilized, um, from top to bottom, we have a very experienced team in place.
2:35
Um, and we're starting to see the fruits of that now.
2:38
Uh, so we have two drills turning now at our Fox tungsten project.
TracyHOST
3:48
Can you talk to us a little bit about how the Tungsten price is actually faring right now?
7:30
Can you provide some highlights in terms of milestones achieved so far, plans for the future, and strategy for both projects?
7:37
So Fox is our main project.
7:38
It's our cornerstone asset.
7:40
Uh, we have an existing resource there.
7:43
Uh, so there's about twenty thousand meters of drilling have been done on this project historically to, to build that resource.
7:50
Uh, this summer we'll be continuing to explore, so we just did a raise.
7:54
Um, we'll be doing a twenty-thousand meter drill program at Fox this summer.
8:58
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?

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