Significant Size, Grade, Returns

Maurice Jackson: Last question, sir. What did I forget to ask?

Steve Todoruk: Who's going to make the next significant discovery? I don't know. We'll have to wait and see. You never know. You can never predict, but that's what I do every day when I get up. First thing is, is today the day that some no-name junior has announced a good looking discovery?

Maurice Jackson: If you could pinpoint, if you were to say, generally speaking geographically, is there a region that kind of has your attention, at least?

Steve Todoruk: I would absolutely love a giant gold discovery in the Carlin Trend in Nevada by a little junior. Everybody loves Nevada, everybody knows all about the Carlin Trend there, that's where the giant gold deposits are, that Newmont and Barrick own. The problem is that they've had all the real estate tied up for 50 years. There's a couple of juniors poking around, but I'd love to see something come to fruition right in the middle of Nevada. Eastern Canada is a good place. Australia, we've got two very nice looking gold discoveries happening down there. I love Australia.

Just touching on that, for the last three years in my books, I would say that there's been a lot more money spent in Australia exploring, spending money drilling then there has been in Canada, the U.S, and we hadn't really seen any significant discoveries, but all of a sudden here we're starting to see the reward just spending all that money with significant new discovery by Rio Tinto, their Winu copper-gold discovery. BHPs announced a newish Olympic Dam type of discovery, their big Olympic Dam Mine. Then on the juniors, I can't mention the two that referred to a few times here, a couple of nice-looking discoveries, so that that's good to see. I love Australia. In general, I want a low-risk country. Mining companies are trying to reduce their overall risk profile by shedding some of their riskier mines, non-core assets in trying to acquire those mines where their shareholders feel more comfortable.

Maurice Jackson: Mr. Todoruk, for someone listening that wants to further today's discussion, how many they get in contact with you?

Steve Todoruk: You can give me a call in our California office at 1-800-477-7853 or email me at STodoruk@SprottGlobal.com.

Maurice Jackson: Sir, if someone has a natural resource space portfolio that they like to have graded, can they contact you and have that graded, sir?

Steve Todoruk: By all means, it doesn't take me long at all, and happy to chat about them.

Maurice Jackson: Please make sure you put in the Subject Line: Proven and Probable.

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