Arizona Gold & Silver secures C$18M to advance Philadelphia project

0:00Very welcome back inside our proactive newsroom and joining me now is Mike Starkey is the CEO of Arizona Gold and Silver and Mike it's great to see again. How are you? You and just fine Steve. Thank you. Good morning. Good morning to you and exciting news out from the company that you've had a large investment from an institutional investor really backing what you've been doing obviously at your project Philadelphia and other things as well. So tell me a little bit about this this investor and what they said you of why they want to back the company. I'm really pleased to look this is the biggest deal they've ever done. That in itself shows a lot of credibility. More importantly this is an instant institutional style investor. These are people that look long-term which is where I was most excited about them. Three to five years is well within their weight period. So that's somebody that wants to grow with us. They see the opportunity that not only Philadelphia has but Silverton as well and our management team. Look they've got the big picture here Steve I couldn't

1:01be happier. Eighteen million dollars coming in over the next two years. Very exciting. Yes. Sorby Bornholm is the name. So when you were talking to Mike what sort of things were they really excited about as far as they feel that Philadelphia was concerned? Good. It's been going on for five months. This wasn't easy. This is something that took time and negotiation on both sides but what I'm excited about with them is they get involved. They're part of the equation. They are in day-to-day movements and working with us. They're also got an advertising background to them as well. So their team is moving in conjunction with us and that is a team aspect that I've always enjoyed. Always. Yeah. Talk to me a little bit about eighteen million dollars. I mean that's obviously a significant investment. What does it mean as far as work that can be done how much runway you get? I mean this sounds like it's a pretty big win for the company.

2:03It's huge. Look this will give us a two-year runway. It'll give us the opportunity as we've been discussing to put multiple rigs on Philadelphia. Obviously Silverton gets included in that. We will have two properties moving forward simultaneously and again the results are going to speak for themselves but the potential that we now have and the availability to these multiple rigs is going to bring multiple news releases four to five holes a month Steve on just Philadelphia. 24 hour drilling. This is what our shareholders have been waiting for and we're delivering it now. And so that means that so that includes this year so it sounds like you're going to really ramping up drilling over the next little while. Our our program right now looking forward is anywhere from 30 to 40 hole. Excuse me 40 holes this calendar year so from this point forward to next year we'd like to put 40 holes into the system we've managed to drill 162 so far so this is a major move

3:06forward. And lastly Mike what does this say about about the work that that is done behind the scenes? I know you've added Lex with the team now and and and you've really sort of plotted long to get to this point it must be very gratifying for you and the team. It is look I've said this before Lex is a you know get it done guy and now with this capital coming in you can you can just imagine geologist love spending money and this now fits his wheelhouse because he's got a stroke program in front of him and going I can execute this and we've got extra and we can keep going. The outside to the east of our property is at a very exciting target. Now we're going to motivate that area as well we're going to actually get a guy out there to do more work so we can further define where we want to drill out there. Again this capital is going to allow the company to really move forward. Yeah maybe $2 million can do that. Mike thanks so much great to see you again and congratulations on this. Thank you very much Steve. Appreciate it very much.

4:08All right Mike Stark the CEO of Arizona Gold and Silver.