Dear Plato Shareholder,
First and foremost, I hope that this letter finds you, your family, and your loved ones healthy. These past weeks and months have been unlike anything that most of us have ever experienced, I think it is safe to say. Speaking personally, having two of our three kids at home with my wife and I present challenges in terms of passing the hours of the waking day. We all must practice physical distancing, frequent hand washing, and minimal trips outside of the home to purchase food and drug store requirements. I am so grateful to the many people who are working under very difficult circumstances in the healthcare industry, our first responders, the delivery workers who are bringing the mail and packages every day, City workers who haul our trash and make sure that our towns and cities still function, and many others who are too numerous to mention.
Our industry is very important too- mineral discoveries are a great source of national wealth, collectively valued in the many billions of dollars. That is not unimportant when one thinks for a moment about how we will be able to pay for the many billions of dollars of necessary emergency payments and stimulus that our governments will have to pay for during this COVID-19 emergency. New mineral discoveries will be one of the sources of a lot of the wealth needed to pay for these programs. You as shareholders of Plato, and other mining exploration and producing companies, are helping to finance these unprecedented programs to help keep the economy functioning. Mineral wealth is newly created wealth for the community- it is not re-distributed wealth from one group to another- it is brand new wealth when newly discovered.
Although these times have been hard, there is much to be grateful for and much to be optimistic about. There are many brilliant scientists and doctors working around the world to find a cure or a vaccine for COVID-19. Some group somewhere will be successful. There are already stories about several treatments that are showing promise. It will take time, but we will ultimately be successful. When there is a definitive cure or prevention for COVID-19 there will be a huge celebration worldwide.
I am feeling very good about Plato Gold Corp. We are better placed today than any time in our history. We have well-located properties that are in both strategic, and precious metals. Our flagship property, the Good Hope Niobium Project has the best location in the world, in my opinion, being located just off the Trans Canada Highway, 20 minutes or so outside of Marathon, Ontario. Besides the Highway, we have the CP Railway line, deep water ports on Lake Superior, the Hydro One transmission lines, terrific First Nations communities, and a skilled mining workforce from the famous Town of Marathon. Our partner in developing this niobium project, Dr. Rudy Wahl, is the 2020 PDAC recipient of the Bill Dennis Award for Prospector of the Year. If anyone wants to see a copy of the video from the Awards Presentation at the PDAC Gala on March 3rd at The Fairmont Royal York in Toronto, just email me and I will be happy to send you a link so that you may watch it. Rudy is a legend and just a first-class individual. We could not be working with a better partner. We are also working with Dr. Roger Mitchell of Thunder Bay, who is one of the world’s foremost experts in carbonatite rocks- the host rock for niobium. Roger has over 1,000 technical papers cited- you can look it up- and we are so happy to be working with Roger as well. Our Team of experts is first-class.
In January, we just picked up the Pic River PGM Project, also from Rudy Wahl, which has potential platinum, palladium, and rhodium metals as the property is contiguous on the West to the Generation Mining project, also just outside Marathon, Ontario. The Generation Mining Corp. recently announced their updated PEA for the project which has very robust numbers, and a NPV of $870 million according to the PEA. The gabbros, which are the host rock for the platinum/palladium/rhodium metals flow westward from Generation’s property onto Plato’s property according to regional maps. This project has very good potential for value creation for Plato.
Our Lolita property in Argentina has very good potential for both gold and silver as well as other minerals based on deposits on neighboring properties. This project was brought to us by Dr. Paul Lhotka, a first-class exploration geologist with an enviable track record for finding impressive mineral deposits. (If you don’t take my word for it, just Google Dr. Paul Lhotka). This large property has the potential to be very exciting- the drill targets just have to be drilled to see what is under surface in the deseado massif.
Our 4 gold properties in Northern Ontario, east of Timmins have very good potential. They are located near the Hislop Mine, Ross Mine, Black Fox Mine, Holt McDermott Mine, Holloway Mine, and others. We are in on-going discussion with the gold mining giants in the region to option these properties and drill the many targets on these properties.
Our board consists of experienced business professionals and respected mining experts including Mr. James Cohen, a business and community leader, Mr. Peter Hubacheck, a geologist with over 40 years experience, Mr. John H. Paterson, a mining executive with a record of success, and nominated for our June annual meeting, Mr. J.J. Elkin another successful exploration & mining executive.
Finally, we have a great base of loyal, long-term shareholders who have supported us as we have collected this world-class group of strategic and precious metals properties. I could not be more excited about the future!! If you would like to ask me questions, please e-mail me at: email@example.com
I will be only too happy to talk with any shareholder out there who is looking to pass the time during this tough time for all of us. Thank you again, wash your hands, social distance, and keep you and your loved ones well- we will get through this!!
Anthony J. Cohen
President & CEO