On the Couch with Colin Moorhead: Xanadu Mines (XAM) - Copper Explorer in Mongolia

On the Couch

Welcome to another episode of 'On the Couch'. This occasional podcast series of chats with brokers, CEOs, and fund managers aims to give you an insight into the investing world.
In this episode, Henry Jennings is joined by Colin Moorhead, Executive Chairman and MD at Xanadu Mines (ASX: XAM).
Colin is an experienced industry executive with a demonstrated track record of over three decades building value in mining companies.
A geologist by training, Colin is a Fellow, Chartered Professional and Immediate Past President of AUSIMM, a graduate of AICD and Harvard Business School Advanced Management Program (AMP).
Some of the topics covered:

• Let’s talk copper. Big rally, can it keep going? Where are the big growth projects? (Starts at 1:47)
• What is the attraction of Mongolia? How do the locals feel about the project? (Starts at 4:22)
• Brief overview of Xanadu and why it should be on investors' radar. (Starts at 7:09)
• How does a company with a market cap of around $120m get maximum leverage without being diluted out by its partners? (Starts at 10:26)
• The Bacchus adviser role. Funding options. (Starts at 13:14)
• Working relationship with Zijin Mining, what are they like? (Starts at 13:48)
• When is the PFS due, and what key changes are expected relative to the scoping study? (Starts at 15:40)
• Let's talk about grades. Is 0.3% going to cut it? Is it going to be an open pit to begin with (like RIO)? (Starts at 18:16)
• When do you plan to recommence deep drilling? Will fresh funds need to be raised for that? (Starts at 19:33)
• Other 2 projects (Red Mountain + Sant Tolgoi), what are the ownership and current activities on each? (Starts at 22:54)
• What are the expected milestones for 2024? (Starts at 23:48)
• With Zijin at 19% of the company, is there a risk it could bid for the whole company before a serious value uplift? (Starts at 24:50)
• Will there be more industry consolidation with BHP kicking things off? (Starts at 25:30)
• As an ASX investor, it’s hard to find copper plays since Oz Minerals was bought by BHP, only really SFR. It’s particularly hard to find quality companies run by good quality management with good quality projects. (Starts at 26:48)
• Mongolian insights into people, infrastructure, political system and climate. (Starts at 29:40)

Disclaimer: This is general advice only and you should consult your financial adviser regarding any of the thoughts, ideas or insights in this podcast.
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