Interview with Roger Rosmus, Founder and CEO of Goliath
Resources Limited a Veteran Investment Banker, Focused
in the Prolific Golden Triangle and Surrounding Area of
Northwestern British Columbia
By Dr. Allen Alper, PhD Economic Geology and Petrology,
Columbia University, NYC, US
on 6/26/2018
Goliath Resources Limited (TSX-V: GOT, Frankfurt:
B4IE) is a project generator of precious metals
projects, focused in the prolific Golden Triangle and
surrounding area of northwestern British Columbia. It
controls 100% of four highly prospective properties that
include Bingo, Golddigger, Lucky Strike and Copperhead,
covering over 44,000 hectares. All four properties have
brand new discoveries, never drilled before, that all
have returned anomalous gold, silver and/or copper in
soils, grab and channel samples from exposed bedrock at
surface over large areas. We learned from Roger Rosmus,
Founder and CEO of Goliath Resources Limited, a veteran
investment banker, that as project generator, they are
looking for projects that are elephant size, that are
new and that will tick all the boxes for any senior
mining company to do a joint venture, a strategic
investment, or a potential takeout. Their new
discoveries are the product of glacial recession and
permanent snowpack melting due to the recent climate
change resulting in widespread hybrid mineralization at
surface over large areas seen for the first time; truly
a once in a life time event. The main focus, in 2018,
includes drilling of brand new discoveries at their
Lucky Strike and Copperhead projects.
Dr. Allen Alper:
This is Dr. Allen Alper, Editor-in-Chief of Metals News,
interviewing Roger Rosmus, the Founder and CEO of
Goliath Resources. Could you give our readers/investors
an overview of yourself, your company, your focus and
current activities?
Roger Rosmus: I've been in the investment banking
world for over 25 years, primarily raising capital for
private and public companies, many have been in the
resource sector. When I saw this package of assets, I
literally fell off my chair, in awe, because this is a
once in a life time opportunity. I've never seen
anything so spectacular as these four projects in my
entire career that also have similarities to GT Gold
Corp. (TSX-V: GTT) and Garibaldi Resources Corp. (TSX-V:
GGI) projects before they drilled.
After the company was incorporated, we raised 2.2
million dollars and completed a RTO transaction in
October of 2017. We are currently trading on the TSX
venture, under the symbol GOT, and more recently, we
listed on a Frankfurt, the ticker being B4IE. With the
2.2 million raised, we took options on four projects in
the golden triangle and surrounding area from the J2
Syndicate, a private company and precious metals project
generator. Golddigger and Bingo projects are within the
triangle, and we have two projects, just south of there,
around Terrace & Smithers, BC, which are Lucky Strike
and Copperhead.
In addition to taking the four property options, we also
acquired a 10 percent interest in a private syndicate
called DSM, which staked six projects far south of
Terrace. Goliath will receive 10 percent of all the
economics in relation to any deals on these projects,
that could potential provide non-dilutive cash flow for
the company down the road.
Our business model is purely a project generator of
precious metal projects that are new discoveries and
elephant size. We are looking for new large projects in
the right geological setting that will tick all the
boxes for any senior mining company to do a potential
joint venture, strategic investment, or a potential
takeout. If they don’t tick all the boxes, we're not
going to waste our time on it. As we all know, grass
roots exploration is a high-risk business, and we’ll do
anything to help mitigate some of these risks. We're
looking for new discoveries that are highly mineralized,
large and obvious, which we have found at all four
projects. Attracting a senior partner increases the
probability of success and getting a material project
across the line. We do believe that there is the
potential to have one or even two significant
discoveries this year. The first being our massive
Prosperity Bullseye Gold-Copper-Moly porphyry drill
target at Lucky Strike and our large area of volcanic
breccia outcrop that has widespread mineralization of
Copper-Silver exposed at surface at Copperhead.
Bill Chornobay is our project generator, program manager
and corporate development consultant. He is the one that
had the vision to assemble all our projects and who has
had great success using this business model described.
He also has a highly experienced exploration team around
him. His past track record includes discovering the
Golden Mile in Ontario, which was rolled into Prodigy
and bought out by Argonaut for about 320 million a while
back. He was the one that originally staked the Coffee
Creek assets up in the Yukon, specifically the “Supremo
Zone”, which became the base for that asset for Kaminak.
Goldcorp recently bought Kaminak for about 520 million.
More recently, Bill generated and discovered the Plateau
South project, up in the Yukon, which is in Gold Strike
Resources. He recently inked a 53 million dollar joint
venture with Newmont Mining Corporation.
The depth of Bill’s exploration team is immense, and
they clearly know what they're looking for when they're
out in the field. Goliath is extremely lucky to have
Bill and his team, otherwise this company would not
exist today.
What we are all seeing, for the first time, on all four
projects is widespread mineralization of high grade
Gold, Silver and/Copper over large areas. This is all
due to the recent climate change. Glaciers have pretty
much melted in the area, and more importantly the
permanent snowpack is no longer there; a once in a
lifetime event. These are all brand new discoveries,
never been drilled, or rehashes of old projects. We're
very excited to be drilling two of them in 2018. When we
finished up our 2017 exploration season, there was a lot
of data reported in our news releases. There's quite a
bit of material, so for the readers I’ll focus on what I
believe will materially move the needle for us this year
in relation to our share price substantially increasing
in 2018 that could be similar to what happened to GT
Gold and/or Garibaldi Resources share prices in 2017
after they drilled into their new discoveries. I believe
drilling and validating our targets at Lucky Strike and
Copperhead could quite easily emulate a GT Gold and/or a
Garibaldi type of share price increase and stock chart
they had in 2017 post discovery. The Golddigger and
Bingo projects will have work completed on them to
develop 2019 drill targets. Recently we mobilized our
geophysical team and work is ongoing completing
additional surveys.
.
There is historical
production of over 13,000 ounces of gold from the placer
creeks, of which over six-ounce nuggets have been
reported. We completed a SkyTEM survey in early 2017,
and we found very highly conductive zones, flanking
magnetic highs, so this is essentially a classic text
book porphyry signature extending over an area of 2500 x
1500 x 500 metres and remains open at depth. In addition
to this target, we completed a detailed soil grid, on
top of the geophysical signature, measuring two
kilometers by 400 meters wide. That came back with the
soil geochemistry of an anomalous gold-copper-moly, with
up to 7.27 g/t gold, a classic text book type of
porphyry signature that fits well with our massive
geophysics signature.
The SkyTEM survey data allowed us to complete a 3-D
model of what we believe to be a massive gold-copper-moly
porphyry and the source of all the placer gold. This 3-D
video model can be viewed on our YouTube channel, if
anyone is interested in taking a look, as it's quite
impressive. We have three very distinctive bodies that
we believe to be the source of all that placer gold. You
don't have to be a geologist to see that the watershed
and the headwaters of the placer creeks start there and
the gold is coming from somewhere. We all know that 6
ounce nuggets can’t swim up-stream. There's really no
other logical place, from which it is all coming, other
than our drill target at the Prosperity Bullseye Zone.
We are very excited about drilling that this year. Prior
to drilling this summer, we will be doing additional
geophysics to outline structure, IP, trenching, and
mapping. We have a pretty good idea of where we want to
drill, but this is going to guide us even further, as to
where we want to set up the final drill pads.
Lucky Strike is ticking all the boxes. We have this 2000
by 400 meter soil grid that ran over seven grams gold,
500 ppm copper, 65 ppm moly, 50 ppm tungsten, 4 ppm
antimony, and 10 ppm bismuth that is coincident with our
classic geophysical porphyry signature 3D model that
extends over 2500 x 1500 x 500 metres open at depth.
The initial grab samples from this area assayed up to
24.7 grams gold, 188 grams silver, two percent copper,
six percent zinc and 8 percent lead. This is all in
bedrock and polymetallic quartz veining, exposed at
surface and not from float. We believe these samples are
the by-product of when our porphyry target was initially
formed.
Dr. Allen Alper:
Sounds excellent!
Roger Rosmus: We're also very excited about our
Copperhead target. It has logging road access as well,
it is three kilometers to the main power line, three
kilometers to the main highway. It's about thirty-five
some-odd clicks to Smithers, British Columbia. The area
there is the Copper King trend, which is 2000 by 350
metres. We flew a SkyTEM survey in 2017 here as well,
and came up with some pretty interesting stuff. What
we're seeing at surface is massive and semi-massive
sulfide volcanic breccias widespread over an area of 450
metres. What we have there is up to 7.97 % Copper over
45 gpt Silver at surface.
We did quite a few chip samples. They came back with
excellent grades of copper and silver. They all started
in mineralization and ended in mineralization, and open
in all directions. This area is drill-ready as well for
2018. We have photos of this potassic alteration at
surface, and photos of this eight percent copper on our
web page and in our presentation. It's quite spectacular
as you can clearly see the breccia from one of the
samples that has been cut and polished. This project
ticks all the boxes as well and know this one certainly
has the interest of many senior mining companies in
addition to our Lucky Strike project.
Our Chairman, Richard
Groome a BA, has been around for quite some time. He
sold his firm to Desjardins many years ago. He's done
over 400 financings, representing about four billion in
value over 30 years in business. He's the contact where
I found the CPC shell from for Goliath’s RTO. He brings
great energy to the board, well connected in Canada and
many parts of the world.
I've known my CFO, Graham Warren a CPA, CMA, for well
over ten years now, as I initially met him from a
company that I financed many years ago. He's a
well-seasoned board member and CFO. Sam Ho, an MBA is
our COO, and a partner of mine in the capital markets
business. I hired him as a summer student when he was 17
and have worked with him well over 10 years. We also
have Louis Peloquin a BBA, LLB who's an independent
director, who was in-house counsel for Quebec Cartier,
now ArcelorMittal. I've known him over a decade. We also
have Michael Dehn a B.Sc. who's an independent director,
whom I've known over ten years and extremely
knowledgeable in the resource space. He has been in the
business for over 25 years and has a lot of experience.
We have a great board for being able to react quickly
and the depth to enter into discussions and complete any
potential material business arrangements with senior
companies.
I mentioned Bill Chornobay earlier, who has a track
record of over 30 years delivering results and new
discoveries that have raised over a billion in value. We
have the best exploration team on the ground. In
addition to the team, is Stefan Kruse a PhD, B. Sc.,
with over 35 years’ experience. His expertise is in
structurally controlled porphyry and PGE deposits. We
also have Leon Daniels a Ph.D., B.Sc., who is an
extremely valued advisor to the company.
Dr. Allen Alper:
Leon is a great guy.
Roger Rosmus: He's amazing. He actually has
operated gold mines and put them together. He's a no BS
kind of guy and calls it as he sees it.
Dr. Allen Alper: He's enjoyable to talk with and
knowledgeable.
Editorial Insert of charts
&
Charts (above) of GTT ($0.20 to $2.76) and GGI ($0.12 to
$5.27)
|
Roger Rosmus: Very knowledgeable, for sure. A lot
of the folks ask me why they should be investing in
Goliath. I see a couple of quotes out there from
investors like Rick Rule. They're looking to invest in
the early stage exploration companies, particularly
prospect generators, which is what Goliath is. Also I
know Eric Sprott continues to support certain companies
in the triangle. He has personally invested over 35
million dollars to date. I know for a fact we're in the
right spot and the timing could not be any more perfect.
This has been demonstrated by investors paying
substantially for new discoveries, with the successes of
GT Gold Corp (TSX-V: GTT) in 2017. It was $0.22 before
they drilled and hit a high of $2.76 once they validated
their porphyry. That was almost a 13 bagger if you sold
at the peak. Then the other one is obviously Garibaldi
Resources, (TSX-V: GGI). That went from $0.12 cents
before drilling their breccia outcrop, with widespread
mineralization, and went up to $5.27 once they validated
their source. That was about a 44 bagger if you sold at
the top. GGI has a market cap today of roughly 79
million dollars and GGI‘s is 330 million dollars. Our
market cap currently is 21 million dollars.
So I looked on Sedar to see what GT Gold and Garibaldi
had in 2017, prior to both companies drilling their
targets. GT Gold Corp had a large, high grade soil
anomaly at surface with a market cap of about 26 million
dollars. Before Garibaldi drilled, they had a breccia
outcrop with widespread mineralization with a market cap
of roughly 14 million dollars.
Goliath will be drilling two targets this year, one is
similar in nature to GT Gold’s porphyry and the other is
similar in nature to Garibaldi’s breccia outcrop at
surface. We have the best of both words for potential
success on the drill bit this year on two outstanding
targets. We have a high-grade soil grid anomaly at Lucky
Strike, about the same size or bigger, based on what I
read in GTT’s 43-101 report. As well, we have a breccia
outcrop with widespread mineralization at Copperhead. I
have looked at the combined values of GT Gold and
Garibaldi before they drilled, and it was about 40
million dollars. Goliath is currently trading around a
21-million-dollar market cap at 25 cents. Considering
the two targets we have, I strongly believe we're
extremely undervalued based on what we know about our
targets the combined values of GTT and GGI and the
drilling campaign for 2018. We recently traded over 8.8M
shares over two days up $0.325 and third highest volume
on the TSX-V. The trading volumes have been picking up
and the share price has excellent momentum.
When we raised that 2.2 million dollars in 2017, we just
had grab samples. We didn't have drill targets, the
SkyTEM survey or a large amount of soils and/or channel
cut results. Coming out of the 2017 program, we came out
with great chip samples, channel cuts, soil samples,
geophysics and the two compelling drill targets for 2018
already mentioned. I'm surprised that we're still
trading here based on the two peers mentioned. We just
closed an oversubscribed financing of over 3 million
dollars at 11 cents for the non-flow-through, and the
flow-through at 15 cents.
A lot of the investors, were primarily mining engineers,
geologists and seasoned resource funders. We also had a
number of institutional resource funds participate from
Germany and Canada. They all have the same conclusion;
we have a one of a kind and very unique basket of assets
that you don’t see every day. We are drilling new
discoveries, and they all are very familiar with
Garibaldi and GT Gold. They are believers along with me
that we're going to have similar successes coming out of
our 2018 drill program.
Just to continue on Goliath’s low valuation compared to
its peers, we haven't even talked about the other two
projects in the Golden Triangle that are as good as
Lucky Strike and Copperhead. Our Golddigger and our
Bingo projects are pretty amazing as well. There is so
much information that I could talk about it for hours,
but the highlights for this year are the drill targets.
Drilling is going to get the volumes on the stock going
higher and create shareholder value by validating and
confirming the sources of our two highly mineralized
zones.
Dr. Allen Alper:
Sounds great. Sounds like very strong reasons why our
high-net-worth readers/investors should consider
investing in your company?
Roger Rosmus: I ask all the time, if you would
like to buy another Garibaldi and or GT Gold today
before they drilled. Everyone says yes, so I if you did
buy those two, or perhaps missed that investment you've
got another opportunity with Goliath, based on our
current share price.
Dr. Allen Alper: That sounds very good. Is there
anything else you would like to add?
Roger Rosmus: Our team is amazing. I wouldn't be
in this position without them. I owe pretty much
everything to Bill and the team around him, and
obviously my well-seasoned board. We have solid
management, and the bottom line is the rocks speak for
themselves. You can't make this stuff up like some of
this clepto-currency or the marijuana madness that’s
going on out in the markets. We have real stuff, brand
new-high grade mineralization at surface that Mother
Nature has exposed for us. I imagine there's going to be
a huge staking rush, or perhaps it already has started,
once we've completed our programs because a lot of this
area didn't get much attention in the past. The
attention has mostly been within the Golden Triangle.
We've gone where everyone thinks the world is flat, and
we're going to prove that it is round. On our web page,
readers can view detailed information on all of our
projects, we have all the models, photos, videos, et
cetera, if readers want to get additional information.
They can also reach me at +1.416.488.2887 x222 should
they have any additional questions.
Dr. Allen Alper: That sounds very good. In my
opinion, these are definitely projects to consider.
https://goliathresourcesltd.com
Roger Rosmus
Chief Executive Officer
roger@goliathresources.com
+1-416-488-2887 x222
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