NEW YORK, May 23, 2017 /PRNewswire/ --
www.FinancialBuzz.com, a respected source in the financial news media space, today announces an exclusive interview with Kenadyr Mining (Holdings) Corp. (TSX-V: KEN) (OTC: KNDYF) President, Bryan Slusarchuk.
Mr. Slusarchuk shares with us a brief overall of the company, why he is excited about where the future of the company is heading, and also why he believes 2017 is an essential year for Kenadyr Mining Corp. The interview provides unique insight into the Company's latest corporate developments, updating on recent achieved milestones, and insight into the global junior gold mining sector.
FinancialBuzz.com News Commentary
Gold extended its gains on Monday after it posted the biggest weekly advance last week since mid-April. Spot Gold rose 0.33 percent to $1,260.03 per ounce at Monday morning, while gold futures for June delivery was up 0.5 percent to $1,259.90 per ounce. The price of the yellow metal continued to rally due to a weaker dollar against the euro and the continued political uncertainties in the United States. The metal rose 2.2 percent last week and gained 9.76 percent year-to-date.
A weaker dollar helped push gold higher. The U.S. dollar fell to a six-month low after the euro rose above 1.1230 against dollar. Gold prices could benefit from a weaker dollar as it makes other currency holders cheaper to buy dollar-denominated commodities. "The stock market is starting to feel the heat, as the President is receiving increased opposition left and right , which puts a drag on the prospects of his many plans," a team of analysts from Secular Investor told MarketWatch. "This worsened outlook has analysts adjusting their future earnings projections, which were lofty," they said. "Lower earnings forecasts translates into lower stock prices, plain and simple. Less money for stocks, provides room for alternative assets to shine."
To know more about the interview and learn about the growing interest in Kenadyr Mining (Holdings) Corp. (TSX-V: KEN) (OTC: KNDYF), go through the following
Q. Bryan Slusarchuk is the President of Kenadyr Mining Corp.; can you give our readers a brief overview of your background and a corporate overview/history of the company?
A. The team that was purpose-built for the Kenadyr opportunity has a very unique blend of expertise and experience in the mining space. The CEO, Dr. Alex Becker is not only one of the most renowned geologists operating within this particular gold belt but also has been operating successfully in Kygyz for more than 20 years. He was originally introduced to us by Kenadyr Director Doug Kirwin, who many of your readers will know as the famous geologist credited with leading the discovery team at Oyu Tolgoi. Tookie Angus, our Chairman is one of the most well-known merger and acquisition experts in Canadian mining. He was a founding Director of such billion dollar entities as Ventana Gold, Bema Gold and First Quantum while Mark Eaton, of course, is the former Head of Global Mining Sales, CIBC. My background is in mining finance and capital markets, with a particular focus on international debt and equity funding for mining companies in emerging economies. Dr. Becker was able to acquire this asset with his technical team, built over a span of 20 years, and we feel very fortunate to have had the opportunity to recently take the company public with him.
Q. Gold prices have increased slightly in May. The current uncertainties in the political atmosphere in the United States continue to drag on, yet economic data continues to remain strong. Both affect the directional movement of gold prices. Gold is considered a safe-haven asset, more valuable in times of instability. Where do you think gold prices are going in the short term, and the long run?
A. There has never been a more compelling argument for a dramatic increase in the price of gold bullion. This has been well illustrated as of late due to the ongoing insanity of monetary and fiscal policy around the world, rising geopolitical tensions everywhere on the planet and the promises of the fiat printers of paper becoming more and more preposterous. Traditionally, when gold bullion is in a bull market, gold equities outperform the price of gold itself. Therefore, I am very bullish. That said, our job as a gold company is not to be bullish nor bearish. It is to build out a resource as quickly and as largely as possible so that our shareholders have massive upside when gold does indeed move. Franco Nevada's Chairman, a fellow known as one of the world's most astute gold investors, Pierre Lassonde talks about gold at $8,000 per ounce. I believe in his thesis but at the same time I like to be involved in situations with exceptionally high grade potential and therefore my investment into and my involvement with Kenadyr. Kenadyr could benefit greatly from $8,000 gold but high grade situations don't need high prices to work out extremely well.
Q. The Borubai gold project is located in the Kyrgyz Republic in Central Asia. Kenadyr Mining holds 100% interest in the 164km2 Borubai Exploration License. Recently you announced that it has started drilling on the South Zone. What are some of the geological characteristics of the zone?
A. This is a zone that is immediately adjacent to and has connecting mineralization with a super-major's operating mine. This, of course, is Zijin's TBL Mine where they recently invested $300 million to bring the operation into production. Kenadyr's South Zone has a historical Soviet estimate of 900,000 ounces at 8.3 g/t gold. And, it's wide open for expansion in every direction. As it is open every direction, we know there is potential for it to be larger. At the same time, we also know there is potential for it to be even higher grade given the fact that historical drilling in the area often under reported grade due to poor core recoveries that were preferentially poor in soft areas of the zones associated with high grades of gold and due to the historic use of ICP analysis versus fire assay.
If we were drilling this type of target anywhere in the world, it would be exciting. Given the fact we are drilling it next door to the operating mine of a super-major makes it all the more exciting yet.
Q. What are the working conditions in the Kyrgyz Republic? Is there also any political issues or governmental regulations in the near future we have to worry about?
A. We feel incredibly fortunate to not only have a geological setting such as we do, a setting within a belt that has produced some of the world's highest grade and largest gold deposits, but also to have this situation in a country like the Kyrgyz Republic. Dr. Becker, Kenadyr's CEO, has a 20 year track record of success in the country. Zijin Mining is operating next door and there are multiple world class companies that operate in this country. It has a great tax regime, open and transparent mining law and a lack of unnecessary bureaucracy and red tape. We believe it's a great place to be on multiple fronts.
Q. What advantages (if it at all) do you have in terms of location of the property (Borubai mine surrounds Zijin's TBL mine, why it is important?)
A. Geologically, this is obviously as exciting as it gets. This is the type of project that geologists and mining engineers dream about getting a shot at once in their careers. And most, sadly, never do. The fact that it is accessed via a paved highway, has hydro-electric power right to the doorstep and is in a mining friendly country is all the better. As to all of the reasons why it is also a huge bonus to be next door and adjacent to an operating mine that a super-major owns, I'll let your readers make their own deductions there. It is a huge positive.
Q. What are the expectations from exploration you conducted in the Borubai mine? Are there any current or upcoming catalysts in store?
A. Kenadyr has just started to trade publicly, has zero debt, zero large payments owing, a great share structure, and has $7 million in cash. We have an exceptionally strong balance sheet, world class management with a track record of success in the country and have just started to drill. With the drills now turning, every day marks a day closer to drill results and first results will be a major potential catalyst.
Q. What should your current shareholder base and the financial public expect further down in the pipeline in terms of future milestones?
A. Kenadyr, due to the track record of the team, the world class geological setting combined with the strong balance sheet and proximity to a super-major has attracted incredible institutional support from some of North America's most successful mining investors. They all want to own this for the same reasons we acquired the project. The drill is now turning and the coming days and weeks will be exceptionally exciting and interesting as results start to flow. We have the right guys in the field executing this drill program and look forward to keeping you up to date.
About Kenadyr Mining (Holdings) Corp.
Kenadyr Mining (Holdings) Corp. is involved in the exploration of the historic Borubai gold project located in the Kyrgyz Republic in Central Asia. Kenadyr Mining holds a 100% interest in the 164km2 Borubai Exploration License, which encircles Zijin's Taldybulak Levoberejnyi Mine (TBL Mine), a recently built and producing mine containing 3.2 million ounces in reserves and resources at a grade of 7.2 g/t.
The Borubai Project has had 81,800 meters of historic drilling and is only 100 km, along a major highway, from Bishkek, the capital of the Kyrgyz Republic. The area has well developed infrastructure with 2 lines of high-voltage power grid and access roads to all prospects. The license is in a foothill area at low altitudes above sea level providing easy year-around operations.
The Company has an exceptional Management Team and Board of Directors in place with significant in country experience and international mining experience ranging from discovery and exploration to production. For more information about the company please visit: http://kenadyr.com/.
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