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0:57 you over email. But we will try to get to as many as we can today. The other thing I'll say, just in terms of housekeeping, today's event is being recorded and will be available for replay probably in the early afternoon Eastern time. It'll pop right in your inbox and will also be available on Six's YouTube channel. But enough out of me. I do want to get into the protein of today's event. So, David, I'll throw it to you for a quick intro on the exploration campaign. Perfect. Thanks so much. Really, really exciting to be here. Very exciting time in the capital markets, especially as it relates to gold and junior exploration stories. So I'm David D'Onofrio. I'm the CEO of White Gold. We have with us Dylan Langell. He's a recent addition to our team and we were very, very fortunate to pick him up coming fresh off the Great Bear Discovery. He can get a little more into that, but that's one of the most recent high profile discoveries in Canada. So great to have a guy with his experience and success profile join the team here.
1:51 I'm also a principal at the Power 1 Capital Group, and this company was formed by us in connection with Sean Ryan. He is a notorious prospector who basically grew up in the mining camps in Timmins and sort of really wanted to take that know-how and go find more gold camps. And he is the guy who's singly handily responsible for discovering millions and millions of ounces in the white Gold District. He brought this opportunity to us several years ago and we really, really liked it for a few reasons. Over the past 20 years since Power1 has been around, we've been a very active investor in the resource sector and our focus and what really excites us is this earlier stage exploration. And we've been very successful over the years to be involved with several very high profile success stories across many different commodities, going way back, starting with really in resources where they discovered Fruta del Norte. That's now the asset in Lundin Gold, which is one of the most prolific Gold producers, single asset type companies out there.
2:57 We've also been involved, fortunately, with Continental Gold with Ari Sussman. That was acquired a few years ago by a major mining company for $1.4Bn. We're now Ari's partner in collective mining. They've made another incredible discovery in Columbia. There's not a resource on that yet, but people are thinking this is going to be 10 or potentially even 20Moz type discovery. Probably one of the most high profile discoveries is out there with Lithium. We're early into that sector, co-founding Lithium Americas, which has gone on to do tremendous things, working with the same team on neolithium, which is again acquired. And the reason I mentioned that is over the years, we've been able to sort of dissect what criteria has led to the best opportunities for success, right? This is a risky business, but risk is what you need to take if you want to have big rewards.
3:50 And through that process, we built somewhat of a checklist to ensure that opportunities can check the boxes to make it worth sort of really kind of putting our folks in because what we like to do, and I think what we built reputation for in the market is to be a very patient, but strategic capital partner to these companies where we like to be able to bring ideally all the right pieces of the puzzle around the table early to help the companies have as much success as possible if they're successful in their business operations. So when we had this opportunity come to us from Sean, it really checked all the boxes. And just for maybe some people that don't have all the background, White Gold Corp, our asset portfolio is in the Yukon in Canada. We are the largest landholder in what's known as the Klondike District. This is the part of the Yukon that was epicenter of the infamous gold rush. We started over 100 years ago and is going on today. I was just in sight a couple of weeks ago and almost every creek is still being mined for Placer. There's been over 20 million ounces of gold scratched out of those Placer creeks right from surface and literally almost no modern day exploration until just recently when Sean went there, applied some very unique methodologies which were incredibly successful.
5:12 So the first box that it checked is, Is it an area where the price can be like outsized? And we believe it is. That type of a history, if you look statistically, those type of gold fields, the type of hard rock deposits that were associated with them are enormous. So That was the first thing that got us so excited. B, jurisdiction, that's always been important to us in this day and age. As you can imagine, it's even more important. It's in Canada, it's in a territory where they are extremely supportive of mining. We've seen that over the years, And we've also seen it not on the regulatory side, but also on the capital side. This territory, along with the federal government, has recently announced that they will be investing hundreds of millions of dollars specifically to support mining exploration. That type of support is almost unheard of globally.
6:01 We've been everywhere, we've seen everywhere and we're really fortunate to be in that type of a position. That actually was announced after we co-founded the company, but that is amazing. The geology, I think the Yukon is now widely understood to be one of the greatest frontiers in Canada from a geological potential perspective that has not seen significant amounts of work. Obviously, there's other camps in Quebec, in Ontario, Newfoundland, where there's been a lot of Gold discoveries and other mineral discoveries, but for whatever reason, and part of the reason I think is what we can get into a little later, this area has not seen the work until recently. And when Sean went there along with others and they've done the work, we've now started to see an extremely high rate of discovery.
6:48 In our district alone, there's been over 5Moz of hard rock discovery by Sean and his team. We also have the coffee deposit, which is one of Canada's largest critical mineral deposits, billions and billions of pounds of Copper and millions and millions of ounces of Gold. So that type of prospectivity is very important. And the sort of the other part of this company, which really, really got us excited. And I think this is also what got our partner, Agnico Eagle excited, is that we were able to acquire an enormous landmass. We basically own 40% of the district, but this is a district that Sean has applied his unique methodologies to for over 10 years, and he's cherry picked the best opportunities and we've worked the ground and now we've kept where we see the most prospectivity.
7:36 So in our view, this company has the perspective to basically own an entire district. And in our mind, it's like going back in time and being able to buy a property package this big, which is 300,000 hectares, that's 3000 square kilometers in somewhere like, let's say Val d'Or, the Abitibi, in Timmins, in the Nevada gold fields, like one of these premier, premier gold camps. And if this plays out like we hope it can, and we're starting to see that it's happening, I can't even fathom to put a value on what that can be worth over time. So it really sort of checked all the boxes. And obviously, Sean and his team and the people are extremely important. We're fortunate to have good people along with us. And I really think it's all starting to come together now. We've been doing the work for several years. We've started to drill. So far to date, our success in Sean's methodology has led to the discovery of million ounces of gold in our portfolio.
8:32 Our flagship deposit today is over 2.3 million ounces at 1.71
27:31 to these core deposits, like the ARK, which has been very under-drilled, like the Ryan Surprise, along that trend. And then the third level of prospectivity, which is all within this just white gold project, is additional new targets like the Gold Saddle West where we've added ounces, like the Ryan Surprise, like the QV, where we have about 6 to 10 brand new targets. The soil has been done. The geophysical work has been done. These look very similar to where we have discovered ore bodies to start to test those. And so this year we've kind of come back to sort of the mothership. We said, guys, there's low hanging fruit here. Let's put these points on the board as we look to break. Because now we're at a point where this has the critical mass. We can start moving it down the development pipeline, doing the economic studies.
28:18 We have done some of the preliminary work for that and getting ready. And just logically looking at other PAs that are out there, some of the criteria here stack up very, very well. Number 1 is the grade. The grade is always going to be very important. Number 2 is the metallurgy on the gold saddle. It's just phenomenal. Depth, this comes right to surface. It's all in an open pit and its location. So I am extremely optimistic of what this is going to look like when we do the work. And in our studies, we started doing this last year using a $2,000 Gold price. I think that's important. You always want to be kind of planning for a case scenario. Gold's at $3,000, Let's see where it goes. And that's just going to be gravy for us. So there's sort of 3 levels of very, very significant expansion. We're extremely fortunate that, you know, we think that the highest probability type work is going to be very rewarding on its own. So, and that's, again, just on this one project. And, you know, we're extremely excited to do the more work on that. And I think Dylan will walk through a little bit later, what would he do to eventually get all that work done, and where does it think it gets us?
29:28 Yeah, I think You hit the nail on the head, David. I think the thing to remember is Gold Saddle is kind of the most near-term opportunity to add to our resource base. And that's something that we really wanted to tackle this year. We wanted to take Gold Saddle off the shelf, dust it off and show that it's bigger than it's currently modelled in terms of ounces. And there's some really low-hanging fruit and opportunities to prove that. So I think that's where the start is. And then we continue to look abroad on the White Gold property. And from the map that was displayed, you see there's Golden Soil anomalies everywhere across the property. Once we tackle Gold Saddle, prove our theories, we're kind of gearing up for a bigger program next year. And I think you'll start to see some exciting opportunities develop from that.
30:17 I'm sorry, one other thing I should add, and if I'm getting ahead of future questions, you can ask those or not ask those later. In terms of the catalyst, we're going to have a significant amount of catalyst in the very near term. Part of that is going to be a resource update for work that has been done before everything we've been talking about so far in this call. There's been an area identified in and around and adjacent to the Golden Saddle called the area for future exploration. It's about 10 to 12Mt grading, somewhere between 1 and 2g. And with this re-evaluation with the modeling and the wire framing, we believe that is going to be able to add additional ounces. So that's historic, done. That is going to come in for a catalyst. We're going to have all the work from this year as a catalyst. We're going to have this spin out that we've been talking about, I think, as a catalyst. And then we're going to have the economic PA to follow that. So a lot of information is going to come out. And I really think it's going to be very impressive to the market. And fortunately, in a very good time when these types of projects are coming into focus amongst the investment community. That's a good year for that kind of news. That's great.
31:26 I do want to talk about critical minerals. I got a question for each of you there. Dylan, I know you touched on it already, but phase 1 focuses heavily on copper, moly, tungsten targets. Given the current market dynamics for critical minerals or for critical metals, which of the 3 properties, Bridget Gilder or Mount Heart, to you represents the most immediate development opportunity and why? You're on mute, sorry Dylan. I make that mistake once a day. Sorry, that's a good question. It's a tough one to answer and I don't think I can narrow it down to 1. With the portfolio properties that we've got, there's numerous critical metals targets. And that's why we've narrowed it down. We've done our best to narrow it down to 3 for this year.
32:13 And that was put out in the press release. And I'll just share my screen. I'll cover them quickly. So the first property, all these properties present as copper, moly, Tungsten, Tellurium, Silver anomalies in soil. So what we decided to do is run IP surveys on them. So we're gonna run broad gradient IP surveys, and then we're gonna follow those up with selective dial dipole surveys to give us that 3D look at things. So the first target that we're tackling is the Mount Hart target on the Nolan property. And if you look at the figures on the right, it represents a large scale bullseye zoned multi-element geochemical anomaly, including elements of gold, silver, copper, tungsten.
33:11 And the way that it presents with that bullseye kind of pattern, it tells us that there's the potential for a porphyry system to exist in depth. So the distributions lie within a strongly silicified and locally clay-altered conglomerate, and the rocks observed on surface are a series of biotite-altered hornblende diorite plugs with potassic alterations. So mapping strongly suggests that there's a porphyria depth and the alteration at surface suggests the same thing. So we're doing a 34 line kilometer gradient survey on that as we speak. The other exciting opportunity in the critical metals stream is the bridge of target on the Peddler property.
33:59 So that's a 3 by 3 and a half kilometer anomaly. It's quite large and that sits just 20 kilometers northeast of Western Copper and Gold's casino deposit, which is a significant deposit in the region. And the tungsten anomalies are quite high. So we see tungsten anomalies upwards of 101 PPM with a lot of the samples frequently above 30. And those are overprinted by both copper and moly soil anomalies. And the soil, the copper anomalies are commonly greater than 100 ppm and the moly anomalies are commonly above 300 ppm. We're running a 40-line kilometer gradient survey over this target and That's actually complete.
34:47 We're about 50% complete in our geophysics program as of today. The third target is known as Gilder on our Looney property. This is a high Copper and Mollie soil anomaly target. And it sits on strike from Lucky Joe target. So it's structurally controlled. It points to an already known Copper anomaly. We're running a 22-line kilometer gradient survey over that, and then we'll follow it up with a selective dipole dipole survey. I think what you'll start to see is that we're putting these 3 key targets in a pipeline for drilling. And as David mentioned, we're going to try and spin out these critical metals targets into its own company so that we can focus on these 2 different avenues more specifically.
35:52 And just one thing I'll add, and it's very important, in mining, statistically, your best chances of finding a deposit is near an existing deposit. And so where we are, especially that Bridget target, that's right down by the casino. Also, Newmont's coffee project is right there. And the coffee project is north of $2M. The casino, like I mentioned, I think it's the largest copper gold port in Canada, still undeveloped. This is elephant country. And we have these targets that are not very dissimilar. They've just never seen the work for one reason or the other. So the opportunities there, you know, if they were, they're big. And that's why and that's why we also want to split this, because these things need to focus. They need the time, they need the work, and that's going to help us do that. Awesome. And David, I'll stick to you actually while we're on critical minerals. You mentioned in the PR, arranging accretive corporate opportunities for critical mineral projects. Just looking if you could elaborate on what types of partnerships or deals you're considering. Well, The main thing is what we've touched on is to now take those critical mineral properties, isolate them and move them into a new vehicle. Exactly how that's going to be structured in the process that currently, as we speak, that's something we're looking to execute on in the near term. But this theory or this strategy will be like shareholders in the company today or when the deal is announced, how it's announced, will become shareholders in this critical minerals company. So you now kind of double your investment, double your exposure to and be benefiting from increased work and focus on both screens here, which I think are both incredibly
37:22 exciting for us. Awesome. There's one question from the chat that just because it's right on topic, I'm going to throw in right now. Ken asks, how far is Coffee from Saddle? I can answer that. I think it's about 30 odd kilometers. What's interesting is, I mentioned earlier infrastructure, the main project is called the resource gateway program. That's 3 main roadways that are being built in the Yukon to support this mining exploration. One of those, actually 2 of those touch our projects. One comes from the South to go to the Coffee. It comes right on our Betty property, which is a very exciting project that's contiguous to the Newmont's Coffee project. We've had extremely high-grade discovery there in the last few years. We were hitting 20g-type material.
38:07 We were hitting some of the other 50 plus meters of 3.5g, all from surface. These are company makers on their own. And frankly, there's other standalone companies out there with properties that have less success than that and probably trading at very significant market cap. So this is like a treasure chest of opportunity. And as we continue to advance, and I think we've got to bring them to the forefront. And this is, you know, it's an hour call, whatever it's going to be, but this sort of shows you like how much stuff we have packed into Waeco that we're probably not going to be able to touch in half it. And that's fine. I just want to keep the message here today is we've got 3 big things we're focusing on. We have this incredible deposit that we think can get a lot bigger and move down the production path. We have incredible blue sky opportunities on the Gold side and we have these really interesting critical mineral projects, which we're going to spin out. But you asked the question about the coffee. So if you look at the green line there, it goes from the north to Dawson right down to the coffee project.
39:07 That's about 100 kilometers. You see our gold saddle, the star right on top of it. It's in the vicinity of 30 odd kilometers. Now there is existing today a roadway that's used by the plaster miners. There is like tons of plaster activity. Like I mentioned, I actually got photos 2 days ago from a plaster miner 400 meters from our camp showing little nuggets of gold they're getting out of the creek just by plaster mining the old way. It's crazy how much gold is everywhere. Anyways, that road is going to be upgraded. So you can today drive from our project to coffee. That's all going to be upgraded as part of this resource gateway project. And what's so incredibly fortunate for us, That basically comes right through our entire land package and gives us road access to anything. And that is the beginning steps of the evolution of a mining camp.
39:56 Because now once you have road access everywhere, you don't not need to discover 2 or 3 or 4 or 5, whatever millions of ounces, basically anything you find within 50 or 60 kilometer radius that can be trucked to one of the different facilities. And that's what you see in Timmins and Val D'Or and everywhere else. And we, we basically own all that real estate because, you know, I think the coffee, that project is fully permitted now. That's going to go, that'll be a heap leach. We'll have our mill. Depending on what type of orders you have, 2 of the options that you need and it's all going to work. So it really, really increases the economic prospectivity for everything that we have. It's very, very important to us. And I think people are now just becoming aware of how significant that is for our district. Awesome. David, one thing I'm going to bounce off something you said earlier in today's chat is you've started to work a preparatory work for a PEA. I'm curious if you could give us just more colour on that for folks in the room.
40:51 Listen, we've been working like this project for, you know, looking down the line. When you move a project forward, there's a lot of steps, a lot of different milestones and a lot of different work. So a lot of times, you know, you see the drilling, you see that sort of what's the obvious, but you want to make sure you're advancing that part. For a deposit to be a mine, you want to make sure it's economic at the end of the day. In that, there's engineering studies that have a lot of different analysis of different things. The situation of the deposit, the metallurgy of the deposit, where the facilities will go, what the infrastructure is, what the power is. And so we've started to do all that investigation. That takes years to do. And we've done most of that. And then actually internally, we do have our own study today. And now we're looking to take that to the next step to make it 43-101 compliant and be able to announce it to the market. And we're actually fortunate that the coffee project nearby had recently gone through that process.
41:47 And we were able to work with a lot of the same consultants that did that. So they had very accurate, up-to-date information that we were able to use, which is kind of what got us really so excited, even at much lower gold prices of how robust of a project this can be. Awesome. Dylan, I'm going to throw it to you and I'm going to ask if you don't mind just to kind of zoom out and sum up a little bit. And surely my question is, in your mind, what kind of potential do you think with all your experience that the White Gold Project has in its entirety? And what do you think is going to be required to get it there? That's a good question. I think the only way that we're, I think there's a lot of opportunity to grow the resource base on the Wakegold property. And I think the focus of that is gonna be the gold saddle and the arc.
42:34 These are high grade systems. The arc on its own is only drilled to 100 to 150 meter vertical depth. And it represents right now about 250,000 ounces. So It's an easy target to add a whole bunch of RAB drilling and add ounces to your resource. But first, we're going to do some metallurgical test work on that to prove that the recoveries are better. That will be phase 1 of the program. If I could quickly flash, because one thing you do when you come in is, David asked me, what is the potential and what would you hit this deposit with in terms of drilling? I'll just share my screen again. Just confirm you can see LeapFrog there? Yep, that's good.
43:46 So ultimately we want to, we're getting back to Gold Saddle. We want to prove some of our theories for improved economics and mineralization, looking for parallel zones. We're going to drill into the footwall breccia. We're going to add ounces through the hanging wall mineralization and remodeling. And then ultimately, we want to gear up towards a program kind of depicted here in LeapFrog. So we want to put a series of holes into arc and we want to put a whole bunch of drilling into gold saddle and we want to add ounces. And this is kind of what, if the program was bigger, this is kind of what we would do. And that's kind of what we're geared up towards for next year and the year after. I just to jump in for one thing, is like this is sort of a semantic definition thing. When Dylan says improve, that's more, you know, like make even better.
44:35 This is already great from what we're seeing, but it's just it's adding like gravy and icing to the cake here. Just to put it in sort of a capital markets mindset for people to understand it. I appreciate that perspective. David, I got one last one for you before I jump into questions over email. I know with 300,000 hectares across 21 properties, how just try to get in your head strategically, how are you prioritizing capital allocation between expanding known resources versus exploring the greenfield targets. What's driving those decisions? So strategically, like I told them before, we've taken the approach that we want to kind of split the pie. We're going to have our meat and potatoes. We know there's like low hanging fruit value that we can add there, or we also want to swing for the fences on a new thing. When does the work get done?
45:23 Sean has developed this incredible protocol that's led to all these discoveries in the district. Like I really do think we've cracked the code and Now we're starting to apply that protocol to all these different properties. And it's systematic, it takes time, it's based on data. We have now, I think, the largest geochemical database in the world. And maybe there's even an opportunity to put that into AI, God only knows what's gonna get spit out after that. But I think we have between Dylan and Sean's brain, pretty good computers that have been so successful to date. And then once the work is done and as it checks the box, okay, the soil geochemistry is there. Okay. This type of geophysics are there. The next type of geophysics are there. Now it's drill ready. Right. So they go through that system. And what's really nice now is we've been in the background working up all these different properties. If they don't meet muster, we get rid of them. But look, we've been able to keep now, I think we have 27 highly prospective properties. We've talked about 3 today.
46:16 And once they're ready, that's when they get drilled. And what's very exciting for me is that we're now at the point where the majority of these are drill ready. So these are targets that can act. And that's the most exciting time of any exploration coming when these projects are, and a lot of guys will drill too early, but these ones have all checked the box. Now we have several others, we'll continue to work up and we'll have a pipeline for years and years and years to come. Because like I said, this is the very early stages of what we believe a tier 1 mining camp in Canada, But that is how we lead to allocation of resources. Awesome. So I'm going to move into some of the questions that came in in advance over email. First one's a quick one for whichever of you is interested in answering. How are fire conditions around property this year? Things are fine right now. We've got a lot of rain in the last few weeks, those isolated thunderstorms that like to roll through in the mid afternoon.
47:10 In early July, there were some more fires in the Dawson and surrounding area. So we did have some smoke through camp, but there's nothing threatening right now. I think the fire risk is minimal right now. Great. Thank you. There's one question that I know we've already sort of tackled, but I'll just do it as kind of reiteration, make sure we get to it. Somebody wrote in to say, your recent press release highlights impressive multi-element targets, a data-driven approach using historic data, revealing blue sky potential. I'm curious, how do you plan to unlock value from these discoveries alongside expanding gold resource? Like I said, no, we already tackled it. David, if you want to just jump in. I think part of it is that there is a lot of stuff. People will ask me, hey, how about the Betty? That was like lights out new discovery. How come you're not working on that today? You know what, listen, there's a strategy. And over time, as I think we get bigger budgets, we'll continue to work on those. But we're gonna focus right now where we think we have the immediate opportunity to add the most value.
48:00 I think what we've outlined today is going to do that. It's really exciting. But those are all very, very important projects and they will all get the work they deserve. Awesome. Dylan, I know you had extra thoughts, so I'll throw it to you real quick. I was just suggesting, we've identified this year the 3 key critical metals targets that we're going to get to the drill-ready phase. And I think once that critical metals spin-out company gets formed, I think you start to strategize and put everything into a pipeline. And I think that'll kind of help us advance all these portfolios forward in the 2 different avenues, whether it be gold or whether it be critical metals. Perfect. Now, there's a couple of questions given over email and 1 in the chat, So I'll combine them all kind of together. That's really, do you expect to offer any private placements anytime soon or do you have upcoming capital raises?
48:52 This program is fully funded. So we raised some capital last year and we're fully funded here. Perfect. Now There's a couple of questions in the chat from Alan. I'll try to summarize them all into one, which is really what is timeline to production? I know we've touched on it, but just for some clarity for the flagship project, what's the overall timeline to get to a pour? I think a lot of that will come out of our PEA. We're going to be embarking on over the course of the next several months. If you look at different places around, what we're very fortunate to have is to have a project in our backyard that just went through the permitting process. It's a known process. All the parties are engaged. You know, if you look to how long it took to permit the coffee, I think a few years, that's probably a similar type of timeline we can pursue, assuming that we do the work, which I think now in this market, we definitely in this type of environment, we will definitely be doing that because I think this is going to be an extremely exciting opportunity and a great mine at some point in time.
49:57 Tarek from the chat asked, I know you've already touched on this, but just again for clarity, asked any spin out plans? Yeah, I think Dylan touched on that. It's I think it's a huge value creation opportunity for shareholders. That's just not known or well understood. Awesome. And if you have a ballpark, Tarek also wanted to know how much cash has gone into the ground. I got to. That's a good question. Maybe we'll get back to you guys on that. But it's like it's well north of $100M. That's something I touched on earlier. This is the exciting thing. And this is now the market. We're in a gold cycle. The gold price started going up about a year ago. And as this happened and all the gold cycle, the money capital is first going to go to the producers, the equals of the world. And equals had a tremendous, you know, it's gone from $60 to $175. And I think it continues to go higher.
50:43 They're just such an amazing mining company. Then the capital looked to say, okay, well, what's next? Okay, the mid-tiers, okay, what's next? The developers, you know, what's next? These exceptional discovery stories like collective. And here we are today. So now, so the capital really hasn't come to this, you know, I'll call it next subset, which is companies with good assets in good places. Until I feel just recently, we started to see a little bit of interest. Like my phone rang more in the last like 2 months than it has in the last 2 years because people are saying, all right, well, we've had these returns and maybe, you know, let's try to figure out where that next piece of leverage is. And when you look to it, and it makes sense, because now, like I said, to go and recreate this, you're going to take for sure more than 10 years and for sure more than 150 million bucks, probably 200 or more in today's dollar. So it's well north of $100. It's a lot of time, but most importantly, we've had the technical success, which is a very low probability to do. And that's a kudos to the team. And what we're really so excited about, we've seen the signatures as led to that success. We see what we have on the balance of our portfolio, and we expect to be able to do that over and over again here in the coming years.
51:50 Just to add some context, it's not so much dollar figures in the ground, but I have some stats on the current resource with those 4 deposits with Gold Saddle, ARK, Ryan's Prize and VG. We've got about 80,000m in the ground across 300 holes to give you some context. So that's not a ton of drilling. It's a decent amount, but it's only down to a vertical depth of 500-fold saddle. So I think that tells you a lot. I think one of the things that Dylan sort of opened my eyes on, when I was at Great Bear, my job was to take that thing from discovery up to as many hours as I could. And he started at 2 rigs, you can tell. And we've never had that. There's never been that type of investment. I think that's some good context. And maybe you can share more like with the opportunity. It is. Yeah, that was, you know, coming into joining White Gold, that was kind of my key priority was to convince Dave and the team that we should get back to Gold Saddle and we should grow this thing because there really is more opportunity and I hope I've been able to convey that today on the call.
52:56 We're going to have drill results coming out soon. We're going to do the updated resource modeling. You're going to start to see more mineralization from the unsampled ore string together better than you didn't previously see. So I think growing this thing is a key strategy for Wakewold at this point. Awesome. I love when people are on site and you get helicopter noises. It's very authentic. I think it's cool. Yeah, I got one from Phelps. No, no, it's good. Honestly, it's fun. Phelps is from the chat as, just looking for your perspective on recent share price appreciation for White Gold. I think we've gone, you know, started to tell the story, right? It's, we spent a lot of time with some new personnel, you know, get everyone up to speed, get our program plan. So we've sort of been really heads down on that. And it's just really over the last few weeks, we've been out there to tell the story. And fortunately, it's resonating. It is really a very unique opportunity. And I think it checks a lot of boxes for investors, too. There's a real resource, lots of growth, incredible blue sky opportunity, And most importantly, a market that's receptive to this type of opportunity.
54:04 Awesome. Ian from the chat says he notes he's a shareholder and the juniors have had a tough time the last couple of years. But with resource prices, free cash flows, majors are starting to sniff around. So he's really curious, Dave, for your perspective on how are you seeing the M&A action heating up and how would you describe the interest for Magnico specifically? You know, that's a that's a really good question, right? Like from a capital markets perspective, from an investor's perspective, like you're driving value in certain ways. What is the market like to see? And I think for the last couple of years, no one's disagreed that these juniors were undervalued, but there was really no FOMO, right? Like, why would I, you know, I can buy something bigger and, you know, they're sort of bumping along this multi, multi-year bottom. If for people made that, the basket of juniors has basically been at near or at all time lows for the last several years, even with gold going up to basically all time high. So there's this huge delta, which hopefully will come to a close.
54:54 And as the interest comes, I think it accelerates upon itself. One of the factors that does drive that historically is M&A. And that has started. We're starting to see it. We're starting to see better and better Gold prices paid. There was an M&A event 2 weeks ago where I think the price is about US$160 an ounce. So, you kind of take that as somewhere in an earlier stage of the MA cycle and hopefully grow from there, that would give an incredibly robust valuation to White Gold with only what we know today. What's that going to look like when we put out our resource, we do the work and we can double or even potentially triple our deposit size? I think that's going to drive it. We're starting to see it. And from being kind of in Bay Street in the flow, I know there's a lot of activity in the sector where these companies now, they're at all-time highs, a lot of the producers. So they're looking to take that leverage and increase it. And they need to though.
55:50 They really don't have the supply to fund their production profiles in the future. So I think there's going to be this kind of awakening at some point in time here. And once it starts, it sort of snowballs because then you get a little FOMO amongst the producers and the majors like, okay, well, that asset's gone, this asset's gone, we need to get some more assets here. I appreciate that extra context for sure. I know we're running towards the end of the hour, so I'll just end with one comment from the chat from Ken, who says, let's make this project the next great bear. I think that's fun, exciting, considering Dylan's on the call. But- Yeah, there you go. But Dylan, David, thank you so much for running through all these questions. Thanks to everybody who joined the room. I know there's a couple of questions we didn't get to, but what I am gonna do is send all those questions to the White Gold team to make sure that they can get back to you over email. So don't worry if we didn't get to the couple of questions we couldn't today. But thanks so much for joining us and you can watch the replay if you'd like coming out this afternoon. David, Dylan, thanks so much. Hope you have a great afternoon. Okay, thanks so much guys. And yeah, maybe we gotta do another one where we can dive deeper into some of these opportunities with the geos on and going. And listen, I hope everyone understands why we're so excited about this and follows us. I think we're in for a great journey here in the next coming years.
56:56 Awesome. Well, thank you so much. Have a good afternoon, folks. Bye.
