Inception Mining is producing gold at its Clavo Rico operation in Honduras and is preparing to begin contract gold mining at its U.P. & Burlington project in the mountains of Idaho. Add in resource expansion and some exploration upside in Nevada and you have a story with lots of interesting angles. Inception CFO and Director Trent D’Ambrosio shares with The Gold Report his company’s plans to boost production and expand mine life at Clavo Rico.
The Gold Report: The Inception Mining Inc. (IMII:OTCQB) home page describes the company as diverse, agile and efficient. Why do you want readers to think about those specific words when they think about the company?
Trent D’Ambrosio: Diversification is critical in today’s metals markets. Inception Mining currently has a producing facility in Honduras, a development-stage project in Idaho, and plans also include expansion of our existing resources and increased exploration efforts in Nevada. Those actions, we believe, will allow us to remain agile. We have the ability to scale some of our projects up or down depending on commodity prices and market conditions. One asset, the U.P. & Burlington project in Idaho, is fully outsourced, which allows us to effectively manage overhead by actively working on the project as we see fit.
TGR: In which ways is Inception efficient?
TD: We started when the majority of junior mining companies were struggling, so we had to focus on being more streamlined and cost conscious. We did that by utilizing a manufacturing model and fine-tuning production and staying focused on our employee count to limit the burn rate. We’ve tried to use modern technology where possible and the most advanced mining and exploration techniques. That has made our operations quite efficient.
TGR: Are your general and administrative costs at the lower end of the scale?
TD: …read more