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Taranis Resources’ Kettukuusikko project
has a tremendous upside to have a gold deposit and is located in Finland where there is a long
mining history that is mining friendly with a stable economic infrastructure
Metals
Mining-Gold and Silver
(TRO-TSXV)
Taranis Resources Inc.
14247 West Iliff Ave.
Lakewood, CO 80228-5421 USA
Phone: 303-716-5922
John J. Gardiner (P. Geol)
President and CEO
Lynn Fosse, Senior Editor
CEOCFOinterviews.com
July 28, 2005
BIO:
John J. Gardiner is a geologist with over twenty-five years of experience in the
mining industry, working as both an exploration geologist and as a mining geologist.
He has worked for a variety of major companies including Noranda Mines Ltd., Placer
Dome Inc., Echo Bay Mines Ltd. and Cameco Corporation. Since 1997, Mr. Gardiner has
been the President of John J. Gardiner & Associates LLC, a Denver-based company that
specializes in mineral exploration consulting and business development. He obtained
a Bachelor of Science degree from the University of Toronto in 1980, and a Master of
Science degree from Acadia University in 1986. Mr. Gardiner is a member of the
Association of Professional Engineers, Geologists and Geophysicists of Alberta and the
Wyoming Association of Professional Geologists. He has been the President, Chief
Executive Officer and a Director of the Company since its incorporation.
Company Profile:
Taranis is a Colorado-based resource company actively pursuing multiple gold and silver
projects in Nevada and Finland (Kettukuusikko). Taranis is actively exploring projects in Nevada
that include the following 100% owned properties: Needles, Midway East, Tybo West, and
Caselton East.
CEOCFO: Mr. Gardiner,
what was your vision when you started with Taranis and how has it developed?
Mr. Gardiner: “Taranis underwent an IPO several years
ago. It was essential at the time that there was an upswing in precious metal prices. All
of the directors in the company have had considerable experience in the precious metal
mining sector, both in the exploration and mining aspects of it. There is always a need to
have good exploration projects in junior mining companies that are advancing to a point
where ultimately a resource is developed. We are a long-term focus company. We will
continue to acquire and develop precious metal properties, and alternately trying to get
them to a point where a resource is developed on it or a reserve that a major mining
company would be interested in taking on themselves, and ultimately mining.”
CEOCFO: Is it
specifically gold or is it a broader focus?
Mr. Gardiner: “It is more focused on gold; there is also
some silver in Nevada. Many of the gold deposits in Nevada have a fair amount of Silver
that accompany them. At this point, we do not have any base metal interest.”
CEOCFO: Will you tell us
about your Finland project?
Mr. Gardiner: “Finland is a great example of the type of
project of which we like to get involved. Our project in Finland is called Kettukuusikko
and it was acquired several years ago because it was an exploration project that looked
like it had tremendous upside to have a gold deposit on it. A number of the mining
companies looked at it and bid on it. We were able to acquire the property because of the
directorship in the company had experience with these types of deposits in Canada. It was
acquired when gold prices were not as high as they are now and there just was not a
tremendous amount of interest to acquire these types of properties. Since that time, gold
prices have risen dramatically and the deposit looks like it is going to advance.”
CEOCFO: You had some
news out about that recently!
Mr. Gardiner: “That is correct. It does not get a lot of
exposure in North America, but increasingly some of the biggest gold mining companies in
the world have acquired gold and other deposits in Finland. Finland has a long mining
history and it is mining friendly with a stable economic infrastructure. Fortunately for
Taranis, we were able to get in early.”
CEOCFO: Where are you
with that project today?
Mr. Gardiner: “It was acquired after the Finish
government had drilled forty or fifty drill holes on it, and it had thirty promising
intersections of gold. In the winter of 2004-2005, we drilled 23 holes on the project and
attempted to get a better understanding of geometry and gold mineralization that was on
the project. We have been successful on doing that and we now know that the deposit is
open to the north and that is where we will be focusing our exploration efforts in the
future.”
CEOCFO: Is Nevada your
main area of focus?
Mr. Gardiner: “In Nevada, we have five exploration
projects all at various stages. They were acquired four and five years ago when there was
a large downswing in the exploration cycle in Nevada, so we were fortunate in being able
to look at hundreds of properties and get the pick of the litter.”
CEOCFO: Why did you
choose these projects, and is there a common thread?
Mr. Gardiner: “Absolutely! That is where it pays
dividends to have a strong board-of-directors. Our board-of-directors consists of people
who have had a lengthy experience in the mining business, collectively have over 150 years
working in the mining business. One of the things we look for when we acquire an
exploration project is not a lot of numbers that you can pick up on the surface that are
isolated, and that stand little chance of making an ore deposit. We look for alteration
and other factors that indicate that there could be something that substantial on that
property.”
CEOCFO: Are you
continuing to acquire properties there?
Mr. Gardiner: “We are always looking at properties in Nevada,
in addition to the exploration that we are doing. In the last few weeks, we have looked at
six other properties that were submitted to our company and we went out to look at them on
the ground. In the course of a year, we may look at fifty or sixty of these types of
opportunities and one or two of them will catch our attention. We are trying to pursue
those. The other properties probably do not have the proper elements to justify the
considerable exploration and time.”
CEOCFO: Do you own all
of the projects 100%?
Mr. Gardiner: “That is one of the interesting and
different aspects of Taranis. We have been involved in a number of joint ventures with
other companies and because we are an exploration company, we have built to acquire
properties of merit early on, and have 100% interest in the projects. We found that joint
ventures and other similar types of agreements could cause a lot of headaches for mining
companies. We feel it is very important to have properties, where we are able to control
100% interest in the projects.”
CEOCFO: Do you have the
funding you need to go forward?
Mr. Gardiner: “Exploration is expensive and you have to
be prudent with the money that you have. Since our IPO was completed two-and-a-half years
ago, we have been successful in drilling a number of holes on our property. We are able to
do the exploration on these properties very cost effectively because we have a company
that works exclusively with Taranis. We do not have to hire external consultants and
contractors to do most of the work on the property. We are able to do exploration on the
properties for about one-half the cost of what most other junior mining companies are able
to do. In the future, we have had some properties that we have acquired, and we have sold
to other companies and we have been able to get more money into the Taranis exploration by
selling properties to other companies. We try to keep the best companies for Taranis and
explore those ourselves. In the next year or two, we will have to come back to the markets
and create some more money to do exploration. I think it is justified in the sense that
two of our projects are advanced and warrant a lot more drilling advance to the point that
we have an ore deposit. I think things in the future are looking positive for Taranis.”
CEOCFO: Is there an advantage to investors looking at junior
mining companies?
Mr. Gardiner: “It is interesting that many junior mining
companies have share values that are trading down. It is an interesting time in the mining
business because gold prices have remained high. There is an opportunity for investors to
look at some of the junior mining companies including Taranis and pick up equity in some
of those mining companies. Ultimately, we will be successful and hopefully pay dividends
back to the shareholders.”
CEOCFO: In closing, tell
us why should investors be interested in Taranis?
Mr. Gardiner: “The management of the company consists of
people that have been around for a long time, and others who have been around for 20-25
years. There is a lot of experience and that can experience can be called on to make
judgments as to whether we should continue exploring properties or acquire other
properties. A team of people that know what they are doing in the mining business makes
the decisions. We feel it is important out of the portfolio of properties that we have
now, that one or two are advanced to a point, where a resource is developed on it and
ultimately a major mining company is interested in the kinds of mines that Taranis has
found. I think that with the Kettukuusikko project in Finland and some of the other
projects we have in Nevada, we are well down that road and moving in that direction.”
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