Sector Experts

Thibaut Lepouttre

Caesars Report

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Thibaut Lepouttre is the editor of the Caesars Report, a newsletter and mining portal based in Belgium that covers several junior mining companies with a special focus on precious metals and base metals. Lepouttre has a Bachelor of Law degree and two economics masters degrees that have forged his analytical approach to the mining sector. Considered a number cruncher, Lepouttre focuses on the valuations of companies and is consistently on the lookout for the next undervalued mining company.




Recent Interviews

Hard-Core Investors Found Real Resource Projects in a Vancouver Conference Center (6/8/15) When the market bears are growling, contemplating a trip to a showcase of the companies currently in the grip of that punishment can seem daunting, but resource experts say now is exactly the time hard-core investors need to be out talking to management, hearing their stories and figuring out which companies will be on top when the good times come. The Gold Report spoke to some of the experts at the recent Metals Forum and Cambridge House Vancouver Resource Investment conferences, who shared some of the nuggets they gleaned from the podium and exhibit hall.

'Lean and Mean' Is the Secret to Junior Mining Equity Success: Thibaut Lepouttre (5/21/15) Thibaut Lepouttre, editor of Belgium-based Caesars Report, says the gold price is range bound and if you want to be in gold equities you have to find "lean and mean" precious metals producers that are generating cash flow or have a clear path to cash flow at $1,200 per ounce gold. Lepouttre tells investors to look for projects with economic studies demonstrating high internal rates of return, as those projects are more likely to attract financing and command a market premium. In this interview with The Gold Report, Lepouttre talks at length about some of his favorites inside and outside the gold space.

Real Gold Explorers Take No Prisoners Says Thibaut Lepouttre (1/12/15) Gold-tracker Thibaut Lepouttre treks the world hunting for solid gold mines and companies with the guts to dig for riches. The editor of Caesars Report and Sprout Money tells The Gold Report why the price of gold is moving sideways for the moment. Don't be fooled by cowardly gold bears, says Lepouttre; invest in muddy, muscled, bull-headed explorers with noses tuned to sniffing out the purest form of value.

Recent Quotes

"ICG's Gold Rush competition will attract some new eyes to the story." (6/23/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"CNY is aiming for a BMC manganese project resource estimate by late 2016." (6/23/15) Cancana Resources Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"We truly believe a merger between RD and CB Gold would be a great fit." (6/19/15) Red Eagle Mining Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG announced an exploration target of 1.4ľ4.2 Moz gold." (6/18/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"We are very excited about CGT's new drill program in Nevada." (6/15/15) Columbus Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"CNY increased its stake in the world's highest-grade manganese project." (5/27/15) Cancana Resources Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"CNY has the highest-grade manganese ore in the world." (5/21/15) Cancana Resources Corp. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"CGT will release a PEA on its Paul Isnard project in the next few weeks." (5/21/15) Columbus Gold Corp. - The Gold Report Interview with Thibaut Lepouttre Moreá>

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"ICG's recent drill results indicate that the Triangle zone could be much larger than originally thought." (5/21/15) Integra Gold Corp. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"PLG is a well-financed group that seems to be hitting the right targets." (5/21/15) Pilot Gold Inc. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"RD's all-in sustaining costs at Santa Rosa could be less than $700/oz." (5/21/15) Red Eagle Mining Corp. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"Adding crushers to the processing circuit would add $25ľ30M to RPM's Lincoln Hill NPV." (5/21/15) Rye Patch Gold Corp. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"TXR could have the next high-grade gold deposit in Canada." (5/21/15) TerraX Minerals Inc. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"ICG has discovered the thickest interval to date at the Triangle zone." (5/20/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"You can buy RD for half of the fair value and get upside for free." (5/13/15) Red Eagle Mining Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG hit some extremely exciting mineralization at the Triangle zone." (5/7/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"Paul Isnard could provide a 20% after-tax return to CGT." (4/22/15) Columbus Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"CGT is one of our favorite exploration stories for this year." (3/31/15) Columbus Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"We wouldn't be surprised to see Nordgold buy out CGT's Paul Isnard project." (3/31/15) Columbus Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG's prefeasibility study will show an after-tax NPV5% of ~CA$200M." (3/24/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"The economics of KDX's Fire Creek project are very robust." (3/18/15) Klondex Mines Ltd. - Thibaut Lepouttre, Caesars Report Moreá>

"We donĺt think RD will have difficulty securing funding for its mine." (3/13/15) Red Eagle Mining Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"CGT is one of the prime takeover targets this year." (3/11/15) Columbus Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"Low capex, low opex and huge blue sky potential make RD enticing." (3/9/15) Red Eagle Mining Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"Drilling confirmed mineralization continuity at CGT's Paul Isnard." (2/27/15) Columbus Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"The NPV of ICG's Lamaque should increase rather substantially." (2/11/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"MIN's metallurgical test work is ongoing." (2/9/15) Excelsior Mining Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"CGT has made tremendous progress in expanding the resource estimate at Paul Isnard." (2/6/15) Columbus Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"We expect ICG's 2015 drill program to substantially increase mine life." (1/28/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"The economics of ICG's Lamaque project will be robust." (1/14/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"Once gold is attractive again, AMM's Tuligtic will be in the spotlight." (1/12/15) Almaden Minerals Ltd. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"One does not often encounter in the world today a phosphate deposit as valuable as FCV's Bayovar." (1/12/15) Focus Ventures Ltd. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"ICG bought the Sigma-Lamaque project for cents on the dollar." (1/12/15) Integra Gold Corp. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"PLG could do very well in 2015 as it's very well financed and has a seasoned technical and management team." (1/12/15) Pilot Gold Inc. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"PG's Cove mine has a lot of high-grade potential at depth." (1/12/15) Premier Gold Mines Ltd. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"RD is one of the most promising South American gold stories." (1/12/15) Red Eagle Mining Corp. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"TXR has a dreamy gold project near Yellowknife." (1/12/15) TerraX Minerals Inc. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"TGM's Karma is one of the most impressive near-term production projects in Africa." (1/12/15) True Gold Mining Inc. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"There seem to be some extraordinarily high-grade intercepts at ICG's Fortune zone." (1/8/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"BAR's latest batch of drill results confirms the depth of the Horizon 3 sulphide zone." (1/6/15) Balmoral Resources Ltd. - Thibaut Lepouttre, Caesars Report Moreá>

"TMM's acquisition deal for Caballo seems very fair." (12/22/14) Timmins Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"TMM will purchase the Caballo Gold project in Mexico's Veracruz state." (12/22/14) Timmins Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"TGM's Karma project is one of the best gold projects in West Africa." (12/15/14) True Gold Mining Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"KDX's Q3/14 shows improvement." (12/12/14) Klondex Mines Ltd. - Thibaut Lepouttre, Caesars Report Moreá>

"RD remains on track to develop its low-cost San Ramon mine." (12/8/14) Red Eagle Mining Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"It looks like ICG's Lamaque property might have some hidden treasures." (12/4/14) Integra Gold Corp. - Thibaut Lepouttre, ZZ-OLD Caesars Report Moreá>

"ICG's new plan should shave off quite a few millions from the capex." (11/13/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"The strike length of BAR's Grasset mineralization could easily be doubled." (11/7/14) Balmoral Resources Ltd. - Thibaut Lepouttre, Caesars Report Moreá>

"TGM, which operates in Burkina Faso, has been punished too hard." (11/1/14) True Gold Mining Inc. - Caesars Report Moreá>

"FCV secured a strong partnerŚDaewoo International, a subsidiary of POSCO." (10/30/14) Focus Ventures Ltd. - Caesars Report Moreá>

"ICG's operating costs will tumble as owner-operated milling is much cheaper than toll mining." (10/28/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"RD's Santa Rosa is a perfect fit for investors looking for low-capex and high-margin projects." (10/13/14) Red Eagle Mining Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"RD is a perfect fit for investors looking for low-capex and high-margin projects." (10/13/14) Red Eagle Mining Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG has acquired the Sigma-Lamaque mill on the cheap." (10/10/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"TXR's intercept of 2.85m at more than 1 oz/ton gold is truly remarkable." (10/6/14) TerraX Minerals Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"With CA$56.5M in working capital, PG is in an excellent position to advance Hardrock and Cove." (10/3/14) Premier Gold Mines Ltd. - Thibaut Lepouttre, Caesars Report Moreá>

"PLG is eager to repeat its previous success at Mt Kinsley with the new Goldstrike acquisition." (9/19/14) Pilot Gold Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"It should be easy for DSF to sell all its output for $100/ton and keep a 50% operating margin." (9/17/14) DuSolo Fertilizers Inc. - The Energy Report Interview with Thibaut Lepouttre Moreá>

"FCV's Bayovar 12 project is in a strong phosphate region; this is a dream situation for any mining company." (9/17/14) Focus Ventures Ltd. - The Energy Report Interview with Thibaut Lepouttre Moreá>

"RD's San Ramon feasibility study is much better than we anticipated." (9/10/14) Red Eagle Mining Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG's acquisition of the Sigma-Lamaque mine and mill is a logical step." (9/4/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"AMM intecepted approximately 4.6 g/t Au eq just outside the limits of the resource estimate at Tuligtic." (9/3/14) Almaden Minerals Ltd. - Thibaut Lepouttre, Caesars Report Moreá>

"CGT was offered money at a premium in its private placement." (9/3/14) Columbus Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"EAG's new drill program at Windfall could extend the resource even further along strike and at depth." (8/29/14) Eagle Hill Exploration Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"PG increased open-pit Indicated resources by 69% at Hardrock." (8/7/14) Premier Gold Mines Ltd. - Thibaut Lepouttre, Caesars Report Moreá>

"FCV's resource should confirm a target of 100ľ150 Mt at 12ľ18% P2O5." (8/6/14) Focus Ventures Ltd. - Thibaut Lepouttre, Caesars Report Moreá>

"NUG encountered an interesting mineralized zone at Iceberg; this validates the company's exploration target." (7/30/14) NuLegacy Gold Corporation - Thibaut Lepouttre, Caesars Report Moreá>

"A seismic survey close to EXN's existing mine infrastructure could be a cost-effective way to generate new exploration targets." (7/27/14) Excellon Resources Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG should be in a position to fast-track the Lamaque project toward a production decision." (7/14/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"SVL's mill should reach nameplate capacity by the end of this month." (7/10/14) SilverCrest Mines Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG's Lamaque property in QuÚbec is advancing quite well." (7/8/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"A drilled hole at TV Tower hit exactly what PLG was looking for." (6/26/14) Pilot Gold Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG is raising new funds for further exploration activities at new drill targets." (6/24/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"MTO's May production is remarkable and better than anticipated." (6/12/14) Metanor Resources Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"Drill results from CGT's Paul Isnard are very encouraging, hinting at very big mineralization." (6/11/14) Columbus Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"DAN has added an additional 78 Mmt grading 5.34% P2O5 to its resources." (6/6/14) Arianne Phosphate Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"NUG has started drilling at its Iceberg project in Nevada." (6/2/14) NuLegacy Gold Corporation - Thibaut Lepouttre, Caesars Report Moreá>

"PLG has resumed drilling at Mt. Kinley; previous drill intercepts were quite exciting." (5/27/14) Pilot Gold Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"New ICG drill results show a lot more potential at depth at Lamaque." (5/21/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"MTO is now producing gold at an annualized rate of 50 Koz." (5/14/14) Metanor Resources Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"I see CFM's drill results as extremely encouraging." (4/28/14) Confederation Minerals Ltd. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"CNQ's offtake agreement with Mitsubishi Corp. validates the merits of the project." (4/28/14) Carbine Tungsten Ltd. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"ICG made tremendous progress in Q1/14, as it released another resource estimate and a PEA." (4/28/14) Integra Gold Corp. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"Further exploration work at MTO's Bachelor Lake mine has indicated its main vein is continuing at depth." (4/28/14) Metanor Resources Inc. - The Gold Report Interview with Thibaut Lepouttre Moreá>

"ICG pulled some of its best intercepts ever out of the Triangle zone." (4/22/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"RPM's royalty payments will allow it to fund its exploration expenditures and top up its treasury again." (4/21/14) Rye Patch Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"ALK's drill results indicate a new copper-gold porphyry zone has been discovered at Bodangora." (4/21/14) Alkane Resources Ltd. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG has received CA$440K in a tax rebate from the QuÚbec government." (4/17/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"MTO confirmed the A vein at Bachelor Lake extends between levels five and six." (4/10/14) Metanor Resources Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"Reports from FCV's Bayovar 12 drill program are encouraging, signaling continuous phosphate intersection." (4/4/14) Focus Ventures Ltd. - Thibaut Lepouttre, Caesars Report Moreá>

"AAZ closed a financing, raising a total of CA$1.65M." (4/3/14) Azincourt Uranium Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"CGT intercepted 6 g/t gold at its Paul Isnard project." (3/26/14) Columbus Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG keeps on spoiling the market with good news." (3/25/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"MTO's market cap is CA$45M, low for a +50 Koz/year gold producer." (3/25/14) Metanor Resources Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"Intercepts of interest at TK's Ayawilca include 22.8m of 5.8% zinc." (3/18/14) Tinka Resources Ltd. - Thibaut Lepouttre, ZZ-OLD Caesars Report Moreá>

"MTO has reached a very steady production level." (3/14/14) Metanor Resources Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"AAZ has engaged SRK Consulting to review the 35.5 Mlb Macusani uranium project." (3/12/14) Azincourt Uranium Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG has one of the very few projects in a safe region with excellent economics." (3/11/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG's Lamaque has all the qualities to become Val d'Or's next gold mine." (2/25/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"We're looking forward to the 2014 drill program at BAR's high-grade gold zones on the MartiniŔre property." (2/20/14) Balmoral Resources Ltd. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG's drill results are extremely important; they confirm high-grade mineralization throughout the Parallel Zone." (2/19/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"The PEA for ICG's Lamaque should confirm the project's low capex and high rate of return." (2/11/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG has added a fourth drill rig to its Lamaque project." (2/5/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG's PEA on Lamaque should show a low-capex, low-opex operation." (2/4/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"TGM has announced more excellent drill results at Karma." (2/3/14) True Gold Mining Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"The supergene copper blanket discovery could add lots of value to PLG's TV Tower project." (1/31/14) Pilot Gold Inc. - Thibaut Lepouttre, Caesars Report Moreá>

"ICG has in excess of the magic threshold of 1 Moz on the Lamaque property." (1/29/14) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report Moreá>

"FVI should definitely be free cash flow-positive based on the current gold and silver price." (1/24/14) Fortuna Silver Mines Inc. - Thibaut Lepouttre, Caesars Report Moreá>

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