Canter Resources CEO Joness Lang Discusses News Today, Outlook For The Company And Lithium

hello everyone this is Peter grwi I always remind you this is not to be considered investment advice always speak to a licensed Financial advis it before making any investment decisions and to read all our discloses well we just literally had some news hit the wire and I got a hold of the CEO so we'll find out what that's about but also what's happening at Canon resources and I'm glad Jonas langing the CEO could find time at a very busy show I hear out in Colorado Jonas thank you for coming on thank you for having me Peter well it's uh you've been gracious to be a Blog sponsor I I've been buying and I added I almost doubled my position in the stock so I have a keen interest but before we get into the company itself tell us about this news that we just ran here on The Wire yeah so our Focus remains our Flagship Columbus projects near tonopa but this was an opportunity it's it's a Valley Railroad Valley uh underexplored comparatively to a lot of the other basins in Nevada uh but geologically has a lot of similarities to Clayton Valley which has been the the biggest producer of lithium since 1966 um it's 3.5 times the size of Clayton Valley and just has not had as much exploration uh there is one private company called three proton lithium that's very active and has a very commanding land position in that Valley um they're private so not a lot of information out there uh but they claim to have a a super brine complex and have defined something very significant there both with lithium and Boron uh so again it's a it's a very intriguing Valley one that's been on our radar for some time uh and an opportunity came up where we could pick up a key tow hold that's contiguous with three proton lithium's ground uh for 300,000 shares and a half percent royalty that can be fully purchased so uh it's a very lowcost strategic acquisition for the company all right so let's get right to the heart of the matter you're a straight shooter and I think we need to be at this point a couple years ago if you said lythium and then you were car if you were a food company you would get a dollar increase in your share price if it just had the word lithium in it now you say lythium people go no no and it's it's gone full circle we all know that it's tough as it is that the opportunities come when when no one wants them so to speak and when everybody wants them that's not the time to be exercising there's been a low but you've seem to think that there's a bottoming process because if something that's happening share that with our our audience if you don't mind yeah I mean it's it's been a tough period don't need to tell you that the lithium sector with uh significant Supply coming online um you know we've seen some mine shutdowns in Western Australia uh the news yesterday that came out it's unconfirmed yet but there's been analysts speaking about cattle which is the largest uh Chinese battery uh manufacture uh of them shutting down an operation in xinshi China which would take a serious amount of lithium supply out of the market and I think that just does speak to the bottoming I believe we we should be at a bottom here in lithium so again in terms of our strategy uh it's high quality projects when the market is struggling finding opportunities to improve and strengthen the portfolio take advantage of those times when people don't want lithium assets uh pick up some quality projects build that portfolio um as you know low prices are the authors of high prices and it's a cyclical business and lithium very much has just been going through that cyclical wobble and I think yesterday's news speaks to a potential bottom being in here so the the backup in it is because all of a sudden EV which looked like everybody had to have it three years ago now everybody's thinking nobody's going to have it and it's going to end up somewhere in between I mean that's going to be the bottom line to that and all tell me and I'm asking you this as much for myself than anybody else a little bit different about your company is you have another product that you're finding there it's not just lithium right yeah I know B Boron is very interesting you know feels a bit like lithium seven eight years ago um it's has a over 300 applications the people that do know of boron know typically of borax right washing their clothes but Boron is used in clean energy applications in semiconductors and Technology it has a ton of different applications uh that are very relevant there's about as much boron in an EV as there is lith right people don't appreciate that so uh being a multicommodity project at Columbus and again in railroad Valley also where there's lithium and Boron uh certainly a benefit for us as we move forward the the comparable project well it's not a brine play Peter is ioner riight Ridge that's about 20 miles away from us we share the same volcanic rocks 33% of their projected revenues at that project come from Boron and that's using a very conservative Boron price so I would imagine it would be higher than a third of the revenue so again it's not just a lithium uh project or or Lithium company we believe Boron will uh will move towards the front of the newspaper and and the not so distant future as well all right Jonas we just completed a phase two tell us basically what happened and on a scale of one to 10 if you were thinking when your first day you showed up here where you would be after phase two how would you rate your success yeah I mean we we've we've drilled 20 total holes between the the two phases uh using Geo probe it's a direct push drilling method it's low cost um so you're able to generate a lot of valuable subsurface data uh this second phase we completed five holes um key takeaways were let's let's show the lateral continuity of these brine formations let's drill to the north where we had some interesting geophysics it's a bit more of a wildcat exploration Hole uh to the northern part of our property but really we're taking all of this data putting it into our 3D model to correlate with all of the geophysics that we have uh to really guide our our future efforts as we push deeper into the system um I think we had a I had an interview with Michael Janti also one of our our shareholders a while back where we described this as a layer cake and really these first phases are just punching through the icing and into that upper layer but we're learning a lot we're seeing significant Boron uh very shallow consistently uh we're seeing increasing lithium grades as we get deeper uh so these results should be out later this month in September and we'll get some uh solid assays back in in October put it all into our model uh and then have a a proposed follow-up phase three program uh to follow that work okay and uh you're at a big show there if you don't mind me asking uh considered one of the best I really you know I understand the lithium story and all but what's the general mood and and how do you view it anything different than say six or 12 months ago just for juniors in general juniors in general yeah I mean I think it's it's been tough not only lithium you know there's a lot of other Commodities that have seen their spot prices uh you know at all-time highs or or very strong and yet the underlying Juniors have have struggled to catch up uh I think the sentiment is is improving uh this year at the conference versus last year I think there was a lot of companies coming to Beaver Creek last year asking those with money what do we need to do to get you to write a check and and this year you see people having plans and uh and not being quite as desperate for cash so I think there is an improved sentiment uh and a lot of opportunity out there right now well that's what I believe I really believe these two shows that go back to back why they go back to back and they're in the same state uh I guess it works for everybody involved but I really think I've noticed uh a sincere and where I'm noticing it is not only am I seeing volume increasing in general but I'm seeing it in in strong waves not just one one person or one group and the volume always precedes price you need volume to move price if you don't have volume it doesn't price is really not going to go anywhere all right so a new addition uh get in a few weeks an analogy of what you discovered in phase two and hopefully before year end here what your plans are going to be for phase three going into 2025 is that correct that's that's correct yeah and again it's it's not a a big part of our strategy to be aggressive on on Acquisitions but when opportunities present themselves we'll we'll take a look um and we're working on some strategic uh discussions as well at Columbus so I hope to have something on that front in 2025 as well yeah and so people on this stand strategic possibly bringing in somebody as a partner is that what you're exactly all right then Jonas thank you for the update thank you Peter