Can you update us on recent developments from Burgex?

The biggest highlight is no lost time incidents. We focus heavily on safety, and despite being in rough terrain over the past 18 months, our teams have executed safely. In 2023, we were busy with lithium claims and sampling. We also did extensive mapping for uranium exploration. In 2024, our field crews have been out 85-90% of the time from January through June, primarily working on copper and gold, with growing interest in uranium. Gold and copper prices have been strong, signaling continued demand for copper. However, funding for junior exploration companies is lagging, with majors being more active. We are advocating for the domestic supply chain of critical minerals through articles, webinars, and education. I have been involved in developing the American Exploration Mining Association's new campaign, "I Am Mining," which launched on July 8th. It is a fantastic initiative that I encourage everyone in the industry to support.

Can you discuss the BLM's public land rule and the current permitting atmosphere in the Western US?

The BLM has become increasingly difficult to work with. The land rule is particularly challenging, and we are actively pushing back, supporting litigation against it. This rule makes it difficult for companies to invest in US projects.

Fees have also increased, which impacts exploration companies with tight budgets. The basic maintenance fee has gone up from US$165 to US$200 per claim, which is significant when multiplied by thousands of claims. We are already seeing companies not renewing claims due to the fee increase. While the BLM is mandated to review fees every five years, the magnitude of this year's increase is significant. It is disheartening because we need this investment for the US to achieve its goals, particularly for the green energy transition.

How do you assist international clients with US permitting?

The mining law of 1872 is old and complicated. We help clients understand what they can and cannot do, whether it is load claims versus placer claims, public land, federal land, state land, private land, or forest service land. We have been doing this for a long time and work closely with BLM state offices to get questions answered. Being based in Salt Lake City allows us to deploy quickly to the entire west. Most of our projects are in Nevada, Arizona, and Idaho, with significant claim maintenance in California. We help clients succeed by understanding the complexities of US mining law and leveraging our experience.

Can you discuss the AI solutions you are developing for exploration and their benefits for target generation?

AI has exploded in the last 12 months, transforming from a side discussion to a necessity. At Burgex, we are integrating GIS with AI to create visual targets. We are in the early stages, but we see this as the future. We are also close to partnering with a major university for project work. As technology evolves, we adapt our approach. Our goal is to help clients expedite processes; ideally, we want to reduce project timelines from 10-15 years down to just a few.

What factors led to Utah's jump in the 2024 Fraser institute Mining Attractiveness index?

Utah provides access to amazing resources. The state has strong legislative support, with leaders like Representative John Curtis who are supportive of the industry. We also have a strong mining association with Brian Summers and his team working hard for us locally and in DC. Overall, we have a great economy and workforce that understand the importance of mining and mineral exploration.

What are Burgex's goals and objectives for the next two years?

Our primary purpose is to solve the challenges of mining, as new issues arise daily in this industry. We aim to reduce reliance on foreign sources, addressing concerns like child labor and human rights. If we truly stand for our values as a country, we should prioritize domestic mining. Currently, we have 24 team members and expect to grow significantly. As a small mining consulting company, we recognize that margins can be tight, but we are committed to being flexible and responsive to our clients' needs. We are focused on doing our best in the face of any challenges that come our way.