General Message/Comments - Summary
Raj Chowdhry, the CEO and Executive Chairman stated "Firstly it's my pleasure as always to provide this message to you, our Company's shareholders and investors. Your instrumental support is appreciated by the Company and me personally. This General Message/Comments - Summary section is provided for you in two sections; firstly the "Quick & Concise Summary" to quickly keep you abreast of the Company's progress and then secondly the "Detailed Discussion on each Sector/Division". to provide you more details."
Quick & Concise Summary
"The Company remains focused in the Mining sector. The Company's 100% owned Gnome project ("Gnome Project" - Zinc & Cobalt), in the heart of an area that is home to both the Cirque and the Cardiac Creek Deposits, is located in a world-class mining district in Canada, one of the safest and mining friendly jurisdictions in the worl d. The Company is awaiting the grant of the previously applied for exploration permits at the Thazi project ("Thazi Project" - Lithium) in Myanmar.
Further, the Company has fully completed the spin out (Spin-Out) of three (3) companies, as previously annouunced (News Release Sep 2, 2020), having received the final order from the Supreme Court of British Columbia, Canada on July 27, 2020 to transfer its interest in:
(1) the Cannabis Sector to Mantra Pharma Inc. (News Release - Sep 2, 2020 for Spin-Out Closure & News Release - June 19, 2019 for further information); and
(2) the Real-Estate Sector to Mantra 2 Real Estate Inc. (News Release - Sep 2, 2020 for Spin-Out Closure & News Release April 16, 2020 for further information); and
(3) the Jean Iron Ore Project to Mantra Exploration Inc. (News Release - Sep 2, 2020 for Spin-Out Closure).
The Company's intent, as previoysly outlined, to successfully execute in each of the outlined sectors through creation of Spin-Co's pursuant to a plan of arrangement has been fully acccomplished. The Company remains focused on the advancement of its Gnome (Zinc/Cobalt) project as it awaits the granting of exploration permits for its applied for Thazi (Lithium) project in Myanmar; delayed due to the Covid shut-downs." stated Raj Chowdhry.
Raj Chowdhry stated "As you are aware, the Company's whole team is focused on delivering shareholder value to all shareholders of the Company. I not only serve the Company, the Company's team, each of the shareholders of the Company, and each community and country where the Company conducts business; I get to do it as a significant shareholder. I thank you and continue to seek your support; as the Company, and its new generation(s) of companies (Spin-Co's), all having forward thinking, create and deliver results and value."
"The current market conditions, especially with the recent volatility (Feb/March, 2020) remind me of the economic turbulent times in the early 1990's; following the 1987 stock-market crash. In the early 1990's, following the market-crash, the conditions were ripe to commence/acquire various successful business through publicly listed companies and to justifiably magnify their values at the same economic time, while building true value for shareholders, society and its citizens. I believe that a similar opportunity has arrived, especially in the Mining sector/arena, with the sector having already gone through a long corrective cycle (almost 10 years), especially in the non-precious metals, and with the current impact caused by the Coronavirus."
"As mentioned in my opening remarks, this brings the Quick & Concise Summary, being the first section to a close. For further details on each project the Company is currently engaged in and/or reviewing please read the second section marked Detailed Discussion for each Project, provided below. Once again, I and the Company thank you for your continued support, and I look forward to providing you the next message from the CEO." stated Raj Chowdhry.
Detailed Discussion For Each Project
Mining - Sector/Division
Raj Chowdhry, Chief Executive Officer & Chairman of the Board stated, "in the mining sector", the Company, as previously announced (News Release - October 25, 2019) has completed the initial drilling (August 2019 - 140 m - true depth of only 80 m) at the Gnome (Zn/Co) property adjacent to the ZincX's Cardiac Creek deposit (a property having a robust PEA, where ZincX did additional drilling (2,000 m - 2019 program) to further develop their deposit. It's an exciting time for the Company as it's been only testing for significantly shallow resource to date compared to the Cardiac Creek deposit (ZincX) or the Cirque deposit [Teck's & Korea Zinc's joint ventured ("T-KZ-JV" - 50% each)]. Based on the drill results of the 2019 exploration program the Company will likely, in due course in conjunction with market sentiment, test for the expected deeper resource; as existing on adjacent projects."
"Further, the Company’s entry into Myanmar with the pursuit for the Thazi project (News Release - Feb 11, 2019), a country having both China and India as neighbors (combined population of almost three billion people) who likely represent the largest buyers of Gold, Copper and Zinc, and users of batteries in the world, is a significant move. Myanmar being endowed with impressive geology will allow the Company, now having commenced operation in the country successfully, to also pursue other assets, including gold, silver and copper assets. With all major mining companies having ceased operations in Myanmar back in 1997, due to prevailing sanctions at that time and with Myanmar after two decades now re-opening its doors with no sanctions, we look forward to capitalizing on the timely first mover advantage while adding and contributing to the growth of the country and its people. The Company expects to receive the granting of the Thazi Lithium Claims within the next quarter." stated Raj Chowdhry.
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