Yet another Canadian-on-Canadian mining love fest interview.

This time Captain Paul seems to be pulling back on the expectations for the Phase 3 drill program.

Phase 3 started in October 2023 and was touted as a 20,000 meter drill program. Fast forward to February 2024 and they only have 3 holes drilled and listed the results of 2 (per their January press release).

We can only assume the muted progress is due to the fact that Faraday hasn’t received permission from BLM to drill. Which, by the way, is never mentioned in any of the Faraday interviews. We wonder if investors were/are even aware that the planned locations for Phase 3 were almost exclusivley on public land.

Below is a snippet from the video where Paul appears to be less enthusiastic on calling it a true 20,000 meter program. It’s “um… a… a… potentially… up to…”.

Below is the full 5:13 video. It contains the usual “great infrastructure”, “resource expansion”… blah, blah. Some new tidbits at 3:50 in the video Paul states 2024 will have a lot of “behind the scenes work”. Also at 3:20 he lists some of the additional foreign mining companies in AZ taking advantage of the free unlimited water.



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