During my presentation at the May Metals Investor Forum in Vancouver, titled “Pitfalls, Red Flags, and a Copper Explorer Set-Up Nicely“, I saved one stock idea for the end of the presentation. That idea was Kodiak Copper (TSX-V:KDK, OTC:KDKCF). Kodiak checked all the boxes that I look for in a junior. I especially liked the combination of improving chart technicals in combination with the beginning of a fully funded 25,000 meter drill program at the company’s flagship MPD Project in British Columbia. It also didn’t hurt that Kodiak management have been consistent buyers of the company’s shares, both through open market buys and private placement financings.
KDK was trading around $.72 at the time of the MIF presentation, and today it’s still treading water in the same trading range around $.75. However, some might say that trading up 4% in the last couple months is actually a pretty good performance in what has been an overall poor market environment for junior miners.
KDK.V (Daily)
Last week Kodiak issued an important news release that included the discovery of a new high-grade copper-gold-silver zone at the southern end of the MPD Project. The news release was extremely thorough and even included core pics from multiple holes, including some really interesting looking semi-massive pyrite-chalcopyrite mineralization from hole AXE-23-003.
Drill core from the new copper-gold-silver zone at MPD with semi-massive pyrite-chalcopyrite mineralization in phyllic/propylitic altered andesite breccia east of historic drilling.
I am a Kodiak shareholder and I figured who better to explain the latest news release than Kodiak Chairman Chris Taylor. Chris is a structural and economic geologist with more than 20 years of industry experience. He is also best known for being the CEO of Great Bear Resources up until February 2022 when Kinross Gold completed a C$1.8 billion acquisition of Great Bear.
Goldfinger:
Chris, it’s great to speak with you today. I believe this is actually the first time we have spoken at length even though I certainly listened to many of your presentations during the Great Bear days.
I feel like Kodiak isn’t well understood by a lot of investors. If people just look at the grades of some of the intercepts, I think that they would miss much of the story. It’s clear that you’re onto a new discovery of some sort, in the southern part of the MPD property. Can you add some more color into the results, and the news that Kodiak put out on Thursday?
Chris Taylor:
Yes. One of the questions that Claudia, our CEO, gets all the time is the comparative grades. And from my perspective, I used to work at the Mount Polley mine, which is in the same belt of rocks, the Quesnel terrain. It’s further up in British Columbia, a few hours north of MPD. But if you look at the grades at other local producing mines, like Mount Polley, Copper Mountain, even Red Chris. I used to work there as well. Before it was a mine, I was doing a lot of drilling at Red Chris with a company called Imperial Metals. The BC porphyry grades are a lot lower than what you’d see in something like the Andes, and that’s, really, a function of the mining costs.
It’s pretty tough if you’re up at 4,000 or 5,000 meters elevation in South America, to mine lower grade material. But in British Columbia, where you’ve got infrastructure access and other advantages, it’s a lot cheaper. Basically, you make money off of lower grades in BC. If people are following worldwide copper stories, they’re not going to be used to seeing copper equivalent grades in the 0.3% range as being mineable grades. Oftentimes, at some of these local deposits you have sub-0.2% copper, people certainly aren’t used to seeing that. That’s something that we see a lot in British Columbia.
Goldfinger:
That’s a good point and I haven’t heard someone explain quite like that. Copper Mountain and Highland Valley are both around .25%-.3% copper grades. At MPD, you’ve got a lot of intercepts that are grading 0.5%, 0.6%, even above 1%, in some areas. So MPD is definitely on par, or better than your neighbors. I’m interested to hear you discuss the results that Kodiak announced last week, including this new discovery, of the higher grade zone. This is an area where there were gold grades up to 5 to 10 grams over a couple meters. Can you dig into that a little bit?
Chris Taylor:
Yeah, the higher grades are one of the interesting features of MPD. And it’s something that attracted me to the project. I don’t know if you talked about that with Claudia, but I was the one that found the project vendor and ended up putting it into Kodiak. Kodiak was called a different name at the time, but it basically ended up in Kodiak because I was toured around the property by some of the previous owners. And it was pretty obvious that there was this potential on the project for much better grades than those previously drilled, specifically because they were drilling the outer envelopes of these porphyries. And what’s interesting is that when you get into porphyry systems, almost inevitably, in most of them, you have zones of grade enrichment. And these tend to be, generally, vertical orientations, rather than horizontal. And they can have later features that cut across the porphyries and, basically, enhance the grade.
These tend to be near the end of the mineralization and they can concentrate the precious metals and copper. What we’re seeing now at MPD is something I was hoping to see, and indeed, I expected to see, when we got the property initially. And that’s these features that cut across the porphyry envelope, that have the better grades in them. And when you look at the deposits that we’ve been drilling, or the mineralization that we’ve been drilling at MPD, you can see that the ratios of copper to gold (that is percent copper to grams per ton of gold) are about one to one, when we get into the center of some of these zones. That’s a really good feature.
I remember drilling at Red Chris, this is back 15 years ago or so. And I remember we drilled a hole there that was about a kilometer of 1% copper, and one gram per ton of gold, right in the middle of the best-grading part of that system. Most of that is a 0.3% copper system. But again, it has a higher grade core. And you can see that one-to-one grade of copper to gold (1% Cu and 1 g/t Au) is something that’s very attractive to producers. Because obviously, you get a higher value mineral concentrate at the end of the day. We’re seeing this at MPD as well. Again, at the Gate Zone, the discovery we made a few years ago, we see that one-to-one copper to gold ratio. And then, in some of the new stuff that we’re drilling, we’re seeing it again, that similar ratio. And these late features that are enriching the grade in the porphyry targets that we’re finding, that’s what was in the news release that we just put out a couple of days ago.
Goldfinger:
Looking at figure 4 in the latest news release, the core pic of a new copper, gold, silver zone with semi-massive chalcopyrite. Tell us what that means to you, when you see drill core that looks like that, with an intersection of 16 meters grading 0.93% copper, 0.64 grams per ton gold, and 3.2 grams per ton silver.
Chris Taylor:
It’s pretty awesome, Robert. I look at that stuff that we call, rather impolitely, we call it “core porn,” when I get sent pictures of this stuff from the site. It’s very unusual to go onto a property that’s seen the kind of historical drilling that you’ve had at MPD. And everybody dismissed the possibility that this sort of mineralization would even be here. But we thought it was going to be here, based on some of the scientific work that we were doing. But actually, seeing it come out of the ground, it’s very exciting. Because that mineralization, again, is a late high angle, which means, probably, a sub-vertical type feature. It’s got much better grades within it. And it was a big hit. To hit that with 16 meters of width, just in a first test hole, was very impressive. I look at that, and I think, it’s late enrichment within the system.
It’s brecciated to some extent, which used to be one of my main fields of study when I was working in these porphyry deposits, was the brecciation. These late high energy features that can have really good grades. And we saw that twice with the first three holes we put into the West Zone. We saw this kind of material, which fits that bill. In my mind, a late high energy hybrid feature. And we saw these big hydrothermal breccia zones at depth as well, when we got deeper. And those both mean that the project has higher grade capacity. It has higher energy mineralization than, people believe, was ever possible here. The fact that we’ve hit this stuff within the first three holes of this season got us pretty excited.
Hole AXE-23-002: Fragmental polymict breccia including chalcopyrite mineralized clasts in a potassic altered rock flour matrix with disseminated to blebby chalcopyrite and pyrite mineralization.
Goldfinger:
You’ve only announced three holes. They’re all at the West Zone, but I know that you mobilized the second rig to the project a few weeks ago. And I believe the 2nd rig is drilling the Man Zone. You’ve got one in the south end, and one in the north end, is that right?
Chris Taylor:
Yeah, that’s absolutely correct.
Goldfinger:
This West Zone is just a new area that you really haven’t spent a lot of time on previously. But you’re getting some good clues, and some smoke, or as you said the “core porn.” How do you use the information from these first few holes at the West Zone, to help vector in on something that might be bigger and higher grade?
Chris Taylor:
That, actually, was a great question. And first of all, I’d say, “Fire,” not “Smoke,” because it was pretty nice stuff that we hit. But what’s really cool about MPD is, if you look around at porphyry systems of all kinds of different ages… These are spanning hundreds of millions of years. And you see this in young porphyry deposits in South America. And you see it in older ones, like what we’re dealing with here, in BC, which are island arcs that had these volcanoes, and were accreted onto the margin of North America hundreds of millions of years ago. One of the main features that all of these things have in common is, they have these structural intersection points, where you have major structures that cut through the crust of the earth. And those are the conduits that the magmas come up through, and they form these magmatic bodies. And the mineralization forms, as a carapace, above that, more or less.
We see that here, at MPD. There’s two big intersections. One of them is up on the north part of MPD, where we have the Gate Zone, and the Man Zone that you just referenced. And the other big intersection point is on the south part of the project, what we used to call Axe, that Antofagasta was previously looking at. When we see these two big intersections, the way that you find stuff within these intersections is figuring out where they come together, where these structures meet each other. Because those are your points of maximum permeability where the magma gets to come up, and actually produce some mineralization. The other thing is, if you know which way the openings were developing in the earth, because of the regional stresses at the time, which you can figure out by looking at the dikes and other features in the ground, you can figure out the trends of mineralization.
When we hit these mineralized breccias, like we just put out in this news release, what we’ll end up doing is taking a page of the book of guys like Newcrest working at the Cadia-Ridgeway deposits in Australia. I remember these Newcrest guys touring through Mount Polley when I was working there, and talking about these high grade porphyry systems that were intruding up structural features. They were buried, they were blind from surface, a bit like the Gate Zone. Most of the good mineralization at the Gate Zone doesn’t go right up to the surface. There is lower grade at surface, but the higher grade comes down below. That’s a lot like the Cadia-Ridgeway scenario. The good thing about Cadia-Ridgeway is, you follow these major structures, that’s where the magmas are in place, and that’s where you sometimes get these larger porphyry bodies. And sometimes, they’re pencil porphyries that come up, and have quite concentrated grades around them. That’s what we’re doing at MPD right now, we’re taking that methodology for exploration. We’re starting to have enough data structurally.
We have enough data through the drilling, with the geophysics that we’ve been doing. And we’re following these things along trend, and using that new model. It’s not a new model. We didn’t invent it. We just see that it works in other major porphyry centers around the world. And it’s working here. The reason that it wasn’t done here is simply because some of the work is really historic, and they only ever drilled the shallow holes. And some of it is simply because people had a mindset that there was no possibility for these higher grades. Now, almost everywhere we go on the project, we’re finding the higher grade copper-gold-silver mineralization. And that’s a major change for how we look at the project. It really impacts our exploration criteria.
Think big.
Think like some of these really nice grading deposits elsewhere in the world. Think about what controlled mineralization there, and follow it up on MPD, with the expectation that it’s going to be there. And that’s why we keep finding it.
Goldfinger:
That makes a lot of sense. And there is a lot of fire here, at this project. It really does indicate, to me, at least, that you’re onto something, potentially, a lot bigger. Tell us a little bit about the Man target. This is a very good analog to the Gate Zone, where Kodiak had the discovery in 2020. You have a chargeability anomaly, a chargeability high at depth. And it’s only been drilled, historically, down to about 250 meters. What do you interpret is going on at depth, at Man?
Chris Taylor:
That’s interesting. Man is one of those targets that if you drive around on the surface, and you see these weirdly high gold grades in places. But you’re cutting up through, again, quite a green rock assemblage. If you’re looking at the alteration, it’s green alteration. It’s got chlorite in it. It’s got epidote. It makes it a green rock, and that’s what you see. You see higher grades cutting up amongst the green stuff. But the geophysics is showing us that we have targets that look a lot like what we see at Gate. You see a resistivity high in the middle.
And you see a chargeability high from the disseminated sulfides around that. That’s what we’re drilling now, at the Man Zone, because Man has a footprint of several hundred meters in dimension. And it’s got decent copper grades, it’s got really good gold grades in some of the historical trenching that’s done. We really want to follow up on that target, because again, like the Gate Zone, you’re looking at the upper levels of something. And the geophysics is telling you that it looks like a similar type of target, headed down to depth. That’s what the rig is doing there. It’s been drilling at Man now, for some time.
Goldfinger:
You’ve put a few holes in the Man Target by now.
Chris Taylor:
Yeah, that’s the way it is at the moment.
Goldfinger:
Let’s talk about the big picture. I think the market perception of Kodiak is that it’s not big enough right now, that what you’ve drilled out so far is not big enough to, actually, be a mine, or maybe it’s not high grade enough. And again, we have those comparable projects in the form of operating mines to the north and south of MPD. But for some reason, the market doesn’t seem to be fully getting this story. What do you think you need to show the market for investors to have that aha moment, for MPD to be the real deal?
Chris Taylor:
I think what we need to see here to counter the perception that it’s either not big enough or not high grade enough, there’s two ways to fix that. One of them is to drill more, and hit more zones and more targets, and show that there’s more mineralization. The other one is to hit more high grade mineralization and show that, indeed, it is there. That’s what we’re doing this year. When we made the Gate Zone discovery, we did what we had to do, which was, basically, like slicing a loaf of bread. It’s very boring, in a sense, from my perspective, as an exploration geologist, because you want to continue finding new stuff, instead of methodically defining what you already have. But what we did was slice it systematically, and just drill it along, straight for about a kilometer. And then, you figure out the overall dimensions of your body of mineralization.
It’s still open at depth. It’s actually still open to the north as well. But what we see here, across MPD, is all these other porphyry targets. Some of them are showing up in geophysics. Some of them have shown up on the soil data. Some of them have been, historically, drilled, like… The West Zone had a bunch of shallow holes in it. Man has a bunch of shallow holes. What we need to show people is that there is critical mass. And critical mass comes from multiple zones, multiple discoveries. You look at our neighbor, Copper Mountain, that’s what they have. There’s multiple zones across the project. When I worked at Mount Polley, there were multiple pits across the project being developed simultaneously. Some of them were quite low grade, and some of them were higher grade. You’re basically blending grades together to get a consistently grading product that goes through the mill.
That tends to be how it goes in these alkalic porphyry systems. It certainly is what happens with many of our neighboring deposits in British Columbia. I think that’s what we’re going to do here, is show that its early days, in terms of defining the number of porphyry centers. And once people see that we have good results coming out of multiple porphyry centers, I think the market’s going to get that this is a multicenter porphyry district, in that sense. It covers both of these major structural intersections, which is what people look for, what the major companies look for when they’re going for comparable copper deposits. And that’s what we have here, is multiple zones, multiple areas that could, conceivably, be developed in parallel. And that would match what I’ve worked in previously, in this area, and what others are doing well with, right now, in southern BC.
Goldfinger:
This new discovery, this new higher grade zone that had the 1.44% copper equivalent over 16 meters, it’s a new zone. Is that wide open, along strike? At depth? You said it’s structural, so what are we seeing there?
Chris Taylor:
Yeah, I would expect it to have, based on what I’ve seen, probably, a north-south orientation. We hit it with one hole, so obviously, I’m guessing, you can’t determine a three-dimensional orientation with one hole. But that would be consistent with what we’ve seen elsewhere. And it would be open along strike and at depth. And my guess is that it’s open up to the surface as well, because where it projects to, what we think, has never been tested. That’s what we have to do, is follow up and see, effectively, where it goes with the series of holes. That’s all for upcoming drilling. And then, the importance of this is… As a geologist, to be honest, I’m more excited by the breccias that we found in depth, because that is something that, I can guarantee you, major companies would be looking for, the capacity for high energy mineralized breccia systems.
And that one’s cool, because it has chunks, like clasts within the breccia, that come from something, very likely, lower down. And we can see, they’re also mineralized. It’s like you’re stacking intrusion after intrusion, mineralization zone after mineralization zone together, and it shows multi-phase mineralization, high temperature, high energy emplacement, and those things tend to occur along structural trends. Where you have one on a project like this, with all these porphyry centers, I would expect to find more. And it’s the discovery of one of those, back in 2004, at Imperial Metals, we found a high grade zone like that, that was at surface, and ended up restarting the Mount Polley mine.
The mine began going again in 2005. Because suddenly, we had high grade material to add to the stockpiles that run through the mill, and it completely changed the economics of that mine. And knowing that that kind of high temperature mineralized breccias is present, that’s a really good sign, for the capacity of the system, to have other really good grading mineralization. It actually makes sense. That’s what we’ve drilled so far. Why do we have such good grades at Gate Zone? Why do we have good grades in this other new zone that we’ve found? It makes sense now that we know we have multiple generations of intrusion, including these mineralized breccias. It shows you that the system… I’m going to use a non-scientific term. It’s juicier, and it’s higher temperature than anybody ever thought. And there’s more phases of mineralization. Those are all really good signs, basically, that gets geologists excited.
Goldfinger:
That makes perfect sense to me, having seen dozens of porphyry targets that might be similar to MPD in one way, shape, or form. But you guys have a lot of ‘fire’, and various kinds of fire, which as you said represents multiple phases of mineralizing events. That usually means a bigger system, and it could be higher grade as well. And you’ve definitely had some sniffs of higher grade, 1% copper equivalent or better. If you can build out the scale, it could become a hell of a deposit. In some ways, I think you could say it’s still early days here, at MPD. The Gate Zone discovery was 2020. I know it had been drilled historically, but it doesn’t seem, to me, like the previous operators really understood it the way you guys do.
Chris Taylor:
No, the Gate Zone was a case in point. They only ever drilled the propylitic halo around it, so you get the lower grade propylitic-dominated mineralization. And they hit that. They thought that’s all there was, so they stopped the drill rings, whereas we went deeper. We started seeing high temperature and higher grade stuff. And I think the discovery hole at Gate Zone was… That was over a percent copper equivalent over significant widths, I think, like 300 meters. I’m trying to remember off the top of my head. You’d have to look it up to get the numbers. But that was a real game changer. We’re seeing all the features that we want to see. We just need to keep finding more because, again, we want to get that critical mass.
Now, at MPD, you have 18 different zones that we’ve defined as targets at the moment. And so we drilled the Gate Zone. We spent a lot of time at the Gate. We had one short hole in the Man, back when we got the project. And now, we’re following up with the same Gate style, deeper drilling. And I think that’s going to be informative for that area. This is the thing. We’ve now done that at West Zone successfully. We did it at Gate Zone successfully. We even found some higher-grade mineralization at the Dillard Zone, although that’s mostly a lower grade target, from what I can see on it so far. And now, we’re following up with Man. You’ve got a handful of targets which are working out nicely for us, but you’ve got over a dozen targets across the project, which are potentially separate porphyry centers, separate intrusions. And this is a process that we need to repeat here.
Goldfinger:
Chris, final question about Kodiak, and then, maybe, we can do one or two more about what you’re up to in life. Mohave. This is an Arizona project you guys have in your back pocket. You advertise it as, “We have two projects that we can explore year round.” Tell us about this one. And what are the plans there?
Chris Taylor:
I was down at Mohave, looking at it, for a different company back in 2010, roughly. So, 13-14 years ago, somewhere in that timeframe. And it’s another obvious porphyry target. It’s in the same area as the Bagdad mine, which is a big copper mine down in that portion of Arizona. I liked the look of the rocks. I knew that it was a legitimate porphyry system. And again, it had mostly shallow drilling in it, and portions of the bigger target. So it fit the criteria for me, that we knew there was past drilling to show that there was something there.
It’s accessible. It’s one of these projects that you can get to, right near the highway. And you can work there all year round. We would be doing work there, we do like it. We do have plans how to drill it. But we are very excited by what we’re seeing at MPD. I think, from a shareholder capital allocation perspective at the moment, it makes more sense for us to focus in British Columbia. Because, again, if you’re dealing with… Let’s say we have a dozen different targets at MPD, one of those targets would be the equivalent of something like Mohave.
If you’ve got 18 of them, we have all these targets available at MPD, all of which have similar potential to Mohave by itself. Why would we not drill some of these targets in BC when we have the rigs there? It’s eligible for flow-through expenditures, which adds to capital efficiency in Canada. That’s why we focus there first. But I do like Mohave. It does have big exploration potential for another porphyry system. It’s just that, on the list of priorities, we would go through internal priorities at MPD before prioritizing work at Mohave.
Goldfinger:
Yeah, that makes perfect sense. I love the way you said it. You have over a dozen targets that are the same size as the one in Arizona, at MPD, so why get too distracted? You can always hold onto Mohave. I’m sure the carrying costs aren’t too high.
If somebody comes along and really wants it badly, they can make an offer, I guess.
Chris Taylor:
Yeah, I’d be sad not to put some holes into it myself, but I can’t let my own feelings be the driver here.
Goldfinger:
Let’s switch gears. Is Kodiak your main focus right now?
Chris Taylor:
Yeah. I am the chairman of the company. I am the founder of the company in its modern iteration. I’ve been involved with it now, for over 10 years. I think it was 2010 when I got involved with the predecessor company. Initially, I was the VP exploration. Then I, ultimately, became the president and CEO. And then, when I got really busy with Great Bear, when that was going through all of its discovery ramp-up, and then eventual sale, we brought in Claudia as the CEO, because she was, previously, an advisor, and then a board member, and then, ultimately, the CEO of Kodiak. Now that we’ve sold Great Bear and the royalty company associated with Great Bear, I’m putting more time back into Kodiak. I took some time off, several months, mostly last year, but with the exploration that we’re doing at Kodiak this year, I wanted to be more heavily involved.
I really like the project. You really have the opportunity to make a number of discoveries there, which I hope is what you’re going to see coming out of 2023. That’s what, I think, is really important for the company. We’ve had a lot of discussions at the board level, the management level, with our geologist team, like Jeff Ward, for instance, our VP Exploration. We really want to show people that there’s much more to MPD than meets the eye, and that’s the focus for 2023. Discoveries get me excited. They get all of us excited. And I think, ultimately, they get the market excited too. Let’s make that the focus here, for the next little while.
Goldfinger:
For sure. Overall, it’s a pretty treacherous market environment for the junior mining sector. New discoveries are the lifeblood of this industry. And they can work in any cyclical environment, bear market, bull market. New discoveries are where it’s at. Congratulations, obviously, on a tremendous win, a couple of years ago. It’s been almost two years now, since you sold the company you were formerly, CEO of (Great Bear Resources), to Kinross for $1.8 billion. What are you up to now? Are you working on the next company that you’re going to start? Are you looking for gold projects, copper projects? Is there anything you can tell us about what you’re up to?
Chris Taylor:
I’ll put it this way. I’ve looked at a lot of stuff. But recently, with the work that’s going on at Kodiak, I’ve refocused on some of the efforts that are going on there, because I do like what I’m seeing. I have looked at a number of old projects. I haven’t seen anything that I think is worthy of moving on, so I’m quite happy to be drilling copper porphyries. Copper porphyries were where I started working when I graduated with my master’s degree. This is over 20 years ago now. And I love seeing what’s coming out of the ground now, here at Kodiak.
I’ve been an investor in many things. When you make a significant win, a lot of hands come out. I’ve certainly written a bunch of checks, which is interesting. And I wish everybody great success. In terms of project origination, I am looking at other stuff. But I’m working with Kodiak as my number one effort at the moment. And other than that, I don’t think tire kicking is going to be a very exciting thing to talk about until something materializes. I don’t know how many tires you have to kick until one of them hurts your foot because it’s made out of solid gold. It’s going to be more than a few, that’s for sure.
Chris Taylor during his days as CEO of Great Bear Resources
Goldfinger:
Yeah. It is going to be hard to top what you managed to accomplish over the last five years, but that’s the thrill of the game, always up for that next challenge, finding that next new idea to get the juices flowing. But as you said, MPD is a really exciting project. And there’s a lot of potential here for a new discovery, or multiple new discoveries. That’s going to keep you, probably pretty busy for a while.
There’s a lot of younger CEOs who are coming up in the junior mining sector right now, a lot of CEOs in their 30s or early 40s. What advice would you give to a younger CEO right now?
Chris Taylor:
The CEO process in the junior markets is a study in pain most of the time. That’s what I would describe it as. I think that you need to have the mentality that your overnight success is going to take you at least ten years. We sold Great Bear when I was 44, but I had been involved with the company from roughly 2010 up until the conclusion in 2021/2022, when it finally sold. That’s not an overnight success. The market is going to tell you that you are wrong. You’re going to have peers in the industry telling you that you’re wrong, that it’s impossible. We had that with Great Bear a lot, people saying that we were in the wrong rocks.
Goldfinger:
Yes, I remember.
Chris Taylor:
But people that had owned the project previously told the entire industry that we would never have any kind of significant success. If you found a project that you think is really the right one, and the data supports it then you have to trust your analysis. But don’t fall in love with a property either, if the property is not working out. You’re there as CEO, effectively to make your company successful, and to make your shareholders money. Don’t lose sight of that, don’t fall in love with a project. A project is not a marriage. If it’s not giving you what you want, move on to something else. Your shareholders deserve that.
But if you are seeing what you want to see, and it is working out, but the headwinds are strong, you’ve got to buckle down, you’ve got to make personal sacrifices. I was hundreds of thousands of dollars in debt in order to keep Great Bear going during the lean times.
You’ve got to stick with your knitting. And don’t let all the slings and arrows that everyone throws at you dissuade you from your course, buckle down. But don’t make that decision based on a feeling. Make it based on data. That’s the advice that I would give people.
Goldfinger:
That’s fantastic, Chris. I think there’s a lot of wisdom and value there in what you said. Honestly, it’s the same thing for shareholders, and investors in the sector. Just because you own a stock, that doesn’t mean it’s a marriage. If the results are not there, or maybe the management is not doing what you think they should be doing, you can always exit. And maybe that’s the best thing to do, move on to the next thing. Thanks a lot for this conversation and I’m looking forward to more discoveries from Kodiak.
Chris Taylor:
My pleasure Robert. We’ll do our best to make you happy. We just need mother nature to keep cooperating, and then it’s all good.
Disclosure: Author owns shares of Kodiak Copper at the time of publishing and may choose to buy or sell at any time without notice.
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