High-Interest Rates: Net-Good or a Detriment for Mining?
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Thu, July 6, 2023 at 10:00 AMendedReplay
Investor webinar replay
Meeting Overview The meeting focused on the impact of high interest rates on the mining industry, featuring insights from CEOs of three mining companies. The discussion revolved around the capital structures of their respective companies and the broader implications of rising interest rates on commodity demand and economic conditions. Key Discussion Points - Overview of each company's projects and capital structure. - Fireweed Metals: Focus on zinc and tungsten projects in Canada. - Bunker Hill Mining: Development of a zinc-silver-lead mine in a Superfund site in the USA. - Galantis Gold: High-grade gold project in Northern Ireland and a copper-gold project in Quebec. - The dual impact of rising interest rates on the economy and commodity demand. - Discussion on inflation and its relationship with interest rates and commodity prices. - Concerns about potential recession due to high interest rates and its effects on the mining sector. Decisions Made - No explicit decisions recorded. ...
Mr. Macdonald is a professional geologist with a diverse experience base including exploration geology worldwide and investment banking. In recent years he has focused his efforts in exploration and development as a principal of and consultant to various junior mining companies. In the past he was in the City of London where he worked in structuring financings and risk management at Macquarie Bank. In 2007 Mr. Macdonald graduated with an MBA (with Distinction) from Oxford. He completed his B.Sc. in Geology from UBC in 2000. Mr. Macdonald has a long history of mining exploration work in Yukon, including zinc projects, and originally hails from Ross River, near the Macmillan Pass Project site. He is a Professional Geologist registered with Engineers and Geoscientists British Columbia (EGBC).
A former COO of Barrick Gold Corporation from 2015-2018, Mr. Williams is a global executive with an established track-record of value creation, pioneering and transformational leadership within the Mining Industry and other demanding assignments. Amongst other notable achievements, this helped Barrick deliver an 80% improvement in the company’s operating profit over his three years, and the total overhaul of the Company’s relationship with the Tanzanian Government following a breakdown of relations between a Barrick subsidiary and that government.
Formerly, the CEO of an African and Central Asian focused exploration business, and Non-Executive Director of Gem Diamonds PLC, he was also the Commanding Officer of the British Special Forces Regiment – the SAS. He is currently a Non-Executive Director of Trevali Mining Corporation, Chair of Trevali’s HSEC Committee and an advisor to mining companies facing complex operational, political or ESG challenges.
BSc Economics, University College London; MA Security Studies, Kings College London; MBA Cranfield University.
Speaker 1: Hello, everyone, and welcome to today's live discussion on high interest rates and if they are a net good or a detriment to the mining industry. We're joined today by Fireweed Metal CEO Brandon McDonald, Bunker Hill Mining's Executive Chairman Richard Williams and Galantis Gold CEO and Executive Director Mario Stefano. Speaker 1: Gentlemen, we know that mining is a capital intensive industry and that capital can come at a cost. So why don't we start off the discussion by going around the room and providing a 2 minute overview of your company and what capital breakdown looks like for your company. So let's start with Brandon. Speaker 2: So the 2nd part of that question, what the capital, what for it looks like for my company? Capital breakdown. Speaker 2: Okay, thanks. Speaker 2: So I'm CEO of Fireweed Metals. Speaker 2: You know, we have 2 flagship projects in Speaker 2: Eastern Yukon Territory, Canada, 1 overlapping into Northwest Territories. Speaker 2: Our Zinc project Speaker 2: is a large district scale, multi-deposit Speaker 2: Zinc-Lead-Silver Speaker 2: project, Speaker 2: certainly emerging as 1 of the preeminent Zinc development projects in the world. And right next door to it, we have Emac-Tung, Tungsten deposit, which is the Speaker 2: largest high-grade tungsten deposit in the world Speaker 2: and arguably a strategic resource. Speaker 2: Being a Speaker 2: late-expiration, Speaker 2: early-development, Speaker 2: pre-construction Speaker 2: company, Speaker 2: we are all equity funded. Speaker 2: We have about $30M cash on hand, Speaker 2: doing a pretty big drill program this summer. And we'll continue to fund through equity markets, I think for the foreseeable future. Speaker 1: Awesome. Speaker 1: Awesome, Thanks. Richard, take it away. Sp...
