(Kitco News) - Find a project that can become a mine and can withstand the entirety commodity cycle, said Rupert Resources CEO James Withall.
Last week Withall sat with Kitco at the Gold Forum Americas event in Colorado Springs.
Rupert Resources (TSX.V: RUP) is advancing a multi-million ounce gold project in northern Finland. The primary focus is the company's Ikkari project, located in the Central Lapland Greenstone Belt. During the 2022-2023 exploration season the company plans to drill 72,800 meters. About 40% of the drilling will be allocated to Ikkari infill and project drilling.
The company is expecting to release a preliminary economic assessment in the next "couple of months," said Withall.
"It's a big broad deposit. It's very cohesive. It should be able to make very good returns throughout the cycle of gold prices. [That's] the Holy Grail of gold deposits," said Withall. "You don't want something that just makes money when the gold price is high. You want to have the confidence in your business and the deposit that you can make money when the gold price falls."
If a mine is built, the company said energy costs would be low. The company touts a 220kv power transformer located 5km from Ikkari, saying that it is an opportunity to develop a mine with CO2 emissions below industry average due to access to renewable power and the processing characteristics of Ikkari material.
