Sendero Resources Advances Vicuña Belt Copper-Gold Targets Toward Drilling
Summary
Sendero says cash on hand plus 12 million in-the-money warrants — exercisable at a profit today — fully fund its next drill program without dilution.
A rebuilt database of 77 historical holes and 6,400-plus assays — from operators like Eldorado Gold and Anglo American — shows broad mineralized zones.
The CEO argues shared faults, rocks, and pathfinder elements (geochemical clues to porphyry mineralization) link Sendero to its neighboring Vicuña belt discoveries.
La Rioja cut Sendero's option terms — a $5 million cash payment dropped to $65,000, spend requirements to $5 million — for 100 percent ownership.
Veteran mine builders Peter Moroney, Pat DiCapo, and Eduardo Elstain keep pro-rata positions, buy shares in the market, and advise management.
Key points on Allied Gold Corp
- The guest says foundational investor Peter Moroney founded Allied and that it built a mine in Ethiopia in roughly three to four years, an example of the mine-builders behind Sendero.
Key points on Eldorado Gold
- The guest says Eldorado Gold held the entire block of ground — Sendero's plus the neighbors' — back in the 1990s.
- He counts Eldorado among the major operators whose historical work at the property makes Sendero's rebuilt drill database credible.
- He argues Eldorado's decades of technical reports and press releases amount to a blueprint, and that its roads give Sendero infrastructure it would otherwise have to pay for.
Key points on NGEx Minerals Ltd
- The guest positions NGEx's discovery next door as the reason Sendero is more than a 'closeology' play, saying both sit on the same northeast-trending fault with the same rocks, plumbing, and pathfinder elements.
- He notes NGEx was a $40 million company in 2009 and has since spun out $16 billion worth of assets, and that the neighboring discoveries hold 81 million ounces of gold before counting copper.
- He points out NGEx ran a program in La Rioja last year (as of the interview), a sign the province now attracts larger companies, not just juniors.
Devin Pickell's takeaways
- Top takeaway As interviewer, he challenges that proximity to the Filo del Sol, Josemaria, and NGEx discoveries does not by itself make a discovery, pressing on Sendero's vectoring, geophysics, and mapping.
- He presses on execution risk after the planned 3,600-meter program slipped and on how Sendero funds the next phase without heavy dilution with the share price near C$1.15.
Jeremy Gillis's takeaways
- Top takeaway His central call: Sendero is fully funded for its next drill program with no dilution planned, and drilling starts early — as soon as the snow melts — after a small program validated the model.
- He argues Sendero is far more than a 'closeology' play, sharing the same fault trend, rocks, plumbing, and pathfinder suite as the neighboring Vicuña belt discoveries: 'we just don't have their market caps yet.'
- With the stock near C$1.15 — below January's institutional placement price, per the interview — he frames it as a large opportunity for retail investors given the 26.5 million-share structure.
- He argues La Rioja has flipped from anti-mining to supportive, citing the restructured MSAE option and San Juan's two-decade rise from among Argentina's poorest provinces to among its wealthiest.
- He portrays Sendero's foundational investors as patient mine-builders who keep their pro-rata stakes and buy shares in the market, describing the sector as 'a business of attrition.'