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September 10, 2023
November 7, 2023

Last Updated – September 10, 2023

Doubleview Gold
A Perfect Storm is Brewing
Conversation with the CEO
08 Sept 2023

In an attempt to increase The Shareholder Report’s exclusive content, I called Farshad Shirvani (Doubleview Gold’s CEO/President) and was fortunate enough to have a quick conversation with him. Items in parentheses are comments that I added to expand on what he said. At the start of the conversation, Farshad Shirvani was made aware of the purpose of the phone call and he provided permission for it to be published on T$R.

Although the conversation didn’t last very long as he had to take an important phone call and I didn’t get to ask much in terms of questions, I was still able to get enough great content for an article. Hopefully on another opportunity, I’ll be able to ask the questions I had prepared.

In summary, here are the things he said after my opening question about how things were going (refer to Doubleview Gold’s disclaimer as the following statements from the CEO contain some forward-looking information):

He has spent most of his time at the Hat project. He has been overseeing drilling since it started but is currently in Vancouver for 2 weeks to do some administrative work at the office.
Due to recent findings the company has a new mind set and consequently, its mandate has changed (I’m not sure exactly what he means by recent findings but I speculate that it probably relates to pending metallurgical testing on the scandium and its extraction process).
They’re working on proving that it potentially has the largest critical mineral discovery in Canada. If successful, he anticipates the governments of US and Canada will look at the company (both governments have been focusing on establishing a domestic critical metals supply chain for the Green Energy Transition).
The deposit could potentially be one of the most valuable deposits in Canada (read that again and think about what kind of valuation it would receive if this occurs).
By the end of the year, he hopes to say the company successfully completed its largest drill program in its history (more drilling = more MRE tonnage = more unlocked value = higher market cap)
If the company is successful with its annual drill campaign, he anticipates and said “fingers crossed” the Maiden Resource Estimate (MRE) might account for 20% of the project’s 3D-IP volume (volume and tonnage are 2 different things so don’t get these confused).
He is now estimating the project’s CAPEX will be significantly lower than he originally thought (many years ago, if you recall he said large porphyry projects typically require a CAPEX well above C$2 Billion. A significantly lower CAPEX would have a HUGE positive effect on the economics of the project).
He’s extremely happy with what the company has on its hands and it’s much more than he ever imagined (those that watched all his videos from years ago know what he was envisioning and what his goal/dream was. He also mentioned it at one of the recent AGMs. The fact that he says it’s much more than he ever expected is extremely significant).

The only additional question I got to ask before our conversation was abruptly terminated due to another call is the following: why only 20% with all the drilling done at Lisle since the MRE’s mineral category will be inferred and allows for higher spacing between holes? His reply was 20% is enough for now and the rest will come once the rest of the project has been drilled.

My question about only 20% of the 3D-IP is not due to lack of patience (remember I have been a shareholder for a long time as I was a shareholder before the initial discovery hole!). My question was due to my desire to have the highest tonnage MRE so my investment thesis is validated quicker. For many years, I have been publicly sharing my research revealing Doubleview Gold’s potential and have also been saying that I believe it could be life changing for shareholders that played it correctly if my original investment thesis is correct. I simply look forward to people realizing that I was correct after all these years instead of sounding like a broken record. Although I’m no longer the only person talking about Doublview Gold on Twitter, the market still doesn’t understand the potential and the likelihood of a significant buyout price even after I have spoon fed it with what it needs through my reports/articles.

After the call ended, my brain started to perform some mental math about the potential MRE tonnage. The following day, I still had a headache due to my all the mental math and mental processing of all the due diligence I’ve done on Doubleview Gold over many many years!

Pending Maiden Resource Estimate

According to the Pre-PDAC company presentation (March 2023), the MRE is expected at the end of 2023. This is a VERY significant catalyst as it is the culmination of all the company’s hard work. The MRE is what potential buyers use to calculate the value of the deposit as defined by the drill holes used to calculate it. Many desirable deposits in the right jurisdiction get bought out after their MRE. The last acquisition of a junior in the Golden Triangle region was GT Gold by Newmont shortly after the MRE was released. It’s flagship project was a gold-copper-silver project.
Unlike the MREs of other juniors, Doubleview Gold’s MRE will contain other possibly game changing information such as the scandium cost analysis. On it’s own, the scandium cost analysis has the potential to be a significant catalyst. In the Pre-PDAC video, Farshad said the cost analysis will show the world that it has the cheapest way to produce scandium in the world. The MRE will also include the project’s estimated CAPEX.
Based on metallurgical tests to date (recoverable metals), the MRE will include mineral reserves of the following metals: copper, gold, silver, scandium, cobalt and some PMGs.

Important Quotes

As a reminder, here are a few important quotes that I published a while ago on the scandium tracker page:

“Recovering scandium from tailings in addition to copper, cobalt and gold recovery in concentrates is significant as it potentially provides another commercially saleable product with limited additional costs”- 24 Oct 22 NR (link)

“We have the opportunity to have low cost scandium in North America……very cost effective” & “we will have a report showing what the cost figure is to do do this metallurgy, to show to the world that this is the cheapest way of producing scandium” – Pre-PDAC Pres 03 March (video link)

“It will be proven by the end of this year, all of a sudden to everyone, that this is the most unique deposit in the world…..I’m not saying in Canada or the United States….the most unique one in the world & you will see that how we’re going to expose it to the world to see it” – 27 March 2023 YouTube Video (link)

Conclusion

Although the company has been more silent than shareholders would like, it has been extremely busy conducting what will most likely be its biggest drill campaign in its history, developing a game changing scandium extraction process that could revolutionize the scandium industry, preparing things for the MRE such as QC/QA of prior drill holes, overseeing the many pending metallurgical tests, etc., etc. Due to the significance of all the pending catalysts, the silence we’ve experienced this year reminds me of the silence before the fireworks at a New Years Eve celebration or the “calm before a storm.”

With the Green Energy Transition and the desperate hunt for sources of critical metals which will experience record demand and supply deficits, the best junior to own is one that likely has what might end up being one of Canada’s largest critical metals deposit.

I’m extremely excited about what lies ahead due to all the pending catalysts and the likely scenario. If Doubleview Gold’s pending catalysts deliver like I anticipate, I believe the market will finally understand what I have been saying for many years, my investment thesis will be validated and it will be life changing for some shareholders that had the right conviction about it.

Timing is everything and I believe a perfect storm is brewing.

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Doubleview Gold

My spouse & I are both shareholders so I’m biased. T$R independently initiated coverage of Doubleview Gold on 14 June, 2020.

Compensation/Sponsorship – Nothing to declare

Promotional Items Received – July 2020 – My spouse (not associated with T$R) and I each received 1 baseball hat from Doubleview Gold. The company publicly announced any shareholder could receive a company hat for free and it was available to any shareholder upon request.

ESGold

My spouse & I are both shareholders so I’m biased. T$R independently initiated coverage of ESGold on 01 February, 2022.

Compensation/Sponsorship:
August, 2024 – After the release of the report on ESGold on 02 July, 2024, the company (ESGold) offered to compensate T$R for the article & consequently, T$R featured it as a sponsor from 01 – 31 August, 2024. On 23 August, 2024, T$R received the compensation of 250,000 shares of ESGold from Computershare (DRS). The shares are subject to a 4 month holding period. T$R intends to hold the shares for investment purposes. Due to T$R’s extensive coverage of ESGold, there’s a possibility that ESGold pays T$R for the creation of certain content in the future.

October, 2024 – On 29 October, 2024, T$R’s founder (D4), received C$19,000 & 190,000 warrants (exercisable at C$0.15 & expire in 1 year) as finder’s fees on the financing that closed on 30 September, 2024.

Financings – July 2022 – I participated in a financing but the warrants expired without being exercised.

Promotional Items Received – July 2022- I received a free hat from ESGold. ESGold was giving away free hats and T-shirts to people that wanted them (I didn’t receive a T-shirt as they had already given them all out).

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