Western Copper and Gold targets permits and project finance for Casino

POSTED ON February 03, 2015 BY James Fraser
CATEGORY Interviews, Western Copper and Gold,

Western Copper and Gold (WRN:TSX) is developing the massive Casino deposit in the Yukon. The Casino deposit hosts 8.9 million ounces of gold and 4.5 billion pounds of copper in reserves. An additional 9 million ounces and 5.4 billion pounds of copper are part of an inferred resource.

The project does have a large CAPEX at $2.5 billion which will make it tougher to finance in the current market environment.

The company is well funded for the next two years with ~$16 million in the bank and can continue to survive any prolonged mining downturn without diluting shareholders.

CEO.ca talked to President and COO Paul West-Sells about what investors can look forward to in 2015 at Western Copper and Gold.

The following is a transcript of the above video.

Paul West-Sells, President and COO, Western Copper and Gold, Cambridge House transcript:

Really if you look at the next year we have two key things that we are looking to do. One is to move our project forward through the permitting process hitting some key milestones and the second is to begin to line up the financing.

In terms of how we are going to address both of those challenges. On the permitting front we have an absolute top notch permitting team we have a group that is working very hard to make sure we move that along as quickly as possible.

We are expecting to hit our adequacy in Q1 which is a key milestone and by the end of the year should be hitting some key milestones as well. On the financing front we are spending the first part of this year really waiting for adequacy, making sure we have the right strategy in place. Line up the right partners, the right people for the debt, in order to put together the financing package for Casino. In the second half we just execute that. By the end of the year we expect to have some key announcements on the financing of the mine as well.

What separates us from the pack in this crowded junior space is really a couple of things:

First of all great asset, great location, with advanced feasibility studies done. We really just needing to get the permitting done to have a fully ready to go asset.
Point number two is really simple, we have got cash in the bank. We are going to start 2015 with $16-17 million dollars in the bank. That is more than enough for this year and more than enough for next year. We are in a fairly unique position. That is very key for shareholders.

You can invest in Western today and you can be confident over the next two years we are not going to dilute you. The assets remains the same and we are not going to dilute you. We are in a fairly safe position of moving it forward.

This is not a solicitation to purchase or sell securities. Always do your own due diligence. Additionally, this video and article may contain forward looking statements.

James Fraser

Mr. Fraser joined CEO.ca in October 2014. He is passionate about the mining industry. His passion led to co-authoring the e-book "Mining Stocks Investor Guide: A Guide to Investing in Mining Companies." He has a finance background and has completed his Canadian Securities Course (CSC) and Conduct and Practices Handbook (CPH). When Fraser is not "digging" up the latest mining stock, he can be found enjoying a wide variety of sports or travelling the world. More →

Twitter: @miningstocks

james@miningstocksguide.com

James Fraser

Twitter: @miningstocks

james@miningstocksguide.com

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