Join the CEOs of four development-stage gold companies advancing their respective projects from development through permitting and towards construction. These projects sit in ‘the middle stage’ of the Lassonde Curve. Discover what the de-risking process looks like for gold mines in various jurisdictions; the process and timeline of taking a development project from first discovery to a construction decision; and what risks and opportunities exist at the development stage for investors.
Wed, October 16, 2024 at 12:00 PMendedReplay
Investor webinar replay
Meeting Overview The meeting focused on the topic of investing in developers within the mining sector, featuring insights from industry leaders on how to distinguish between developers poised for growth and those facing significant hurdles. The discussion emphasized the importance of understanding project timelines, risks, and the overall development process. Key Discussion Points - Characteristics that differentiate developers ready for growth from those facing hurdles. - The significance of project timelines in determining the value of mining companies. - The "boring" phase of development and its implications for investor interest. - The importance of engineering and permitting processes in the development phase. - The impact of jurisdiction and government policies on mining projects. - The concept of the Lassonde curve and its relevance to investment timing. Decisions Made - No explicit decisions recorded. Action Items & Next Steps - [Unassigned] : Monitor the progress of the Spr...
Dan Wilton has more than 25 years of experience in M&A, corporate finance and principal investing in the mining sector, having executed as principal or advised on more than $10 billion of mergers, acquisitions and divestitures and more than $1 billion of financings. Dan was previously a Partner at Pacific Road Capital Management, a mining-focused private equity investment firm with approximately $800 million under management. Prior to joining Pacific Road, Dan's previous roles included Managing Director and Head of the Global Mining and Metals Group at National Bank Financial Inc., Managing Director in Business Development at General Electric based in London, England, and other corporate finance and M&A roles at global financial institutions based in Toronto and New York. Dan is a Director of Providence Living, a residential care and assisted living provider based in Vancouver, BC, and serves on the Audit and Finance and Quality Committees. Dan served on the Board of Providence Health Care for 11 years, including acting as Vice Chair for 6 years and Chair of the Audit and Finance Committee during the financing and approval process for the New St. Paul's development. Dan holds a B.Comm (First Class Honours) from Queen's University and an MBA (with Distinction) from INSEAD in France.
Dr. Garrett has over 25 years of senior executive management experience in the mining industry and an exceptional track record for developing projects and building companies. Dr. Garrett was President, CEO and Director of Romarco Minerals Inc. where she built and led the team that developed the multi-million ounce Haile Gold Mine in South Carolina from discovery through to final feasibility, permitting and construction. Romarco was subsequently acquired by OceanaGold in 2015 and Dr. Garrett was appointed to the Board of OceanaGold and a member of the Steering Committee for the Haile Gold Mine. Dr. Garrett was most recently the President and Chief Executive Officer of Nickel Creek Platinum Corp. Prior to her time at Romarco, Dr. Garrett held numerous senior positions in public mining companies including VP of Corporate Development at Dayton Mining Corporation and VP of Corporate Development at Beartooth Platinum Corporation. Early in her career, Dr. Garrett was the Senior Mining Analyst and Portfolio Manager in the precious metals sector with US Global Investors. Dr. Garrett is also a Director of NovaGold Resources Inc., a gold company listed on the NYSE American and Toronto Stock Exchange and a Director of Ausenco Pty, an Australia based global engineering firm. Dr. Garrett has also served as a director of TriStar Gold, Inc. and Revival Gold Inc. Dr. Garrett received her Ph.D. in Engineering and her Masters in Mineral Economics from the University of Texas at Austin.
Doug Ramshaw is a senior executive and corporate director with more than 25 years of experience in the mineral resource sector. His work has focused on mineral project evaluation, M&A and business development strategies supporting corporate growth.
Mr. Ramshaw previously worked as a mining analyst for an independent brokerage firm in London, UK and has served in various executive capacities for a number of publicly listed junior resource companies. He sat on the board of Great Bear Resources from 2016 until its $1.8 billion takeover by Kinross Gold in February 2022. He holds a Bachelor of Science in Mining Geology from the Royal School of Mines.
Luke Alexander brings over 20 years of natural resource sector experience, knowledge and contacts to Newcore Gold, particularly in West Africa. He has raised billions of dollars and structured deals for major mining companies while advising some of the world’s top institutional investment funds. Mr. Alexander began his investment banking career in the private client group at BMO Nesbitt Burns in Toronto, then started up an institutional equity trading desk for Toronto Dominion in London before doing the same for National Bank. In 2008, he became a senior partner at GMP Securities in London focused on advising ASX, TSX and London listed mining companies. Throughout his investment banking career, he has helped fund many major resource projects in West Africa. In 2018, Mr. Alexander founded Park Road Capital, a Vancouver-based, natural resource focused consulting firm where he continued to leverage his extensive capital markets experience.
Replay transcript excerpt
Speaker 1: Hello everyone and thank you for tuning in for today's discussion. The topic is investing in developers and we're joined by Dan Wilton, CEO of 1st Mining, Diane Garrett, President and CEO of Highcroft Mining, Doug Ramshaw, President of Mineral Alamos, and Luke Alexander, President and CEO of Nucor Gold. Speaker 1: Now this event is being recorded and will be available for review and afterwards. Speaker 1: Also If you have any questions, please feel free to submit them in the chat. But we do have a full agenda today, so any company-specific questions will be passed on to the respected companies if you do have any. That said, welcome everyone. Speaker 1: Now when we talk about companies in the development stage, it's a pretty broad term, right? Speaker 1: So what are the key characteristics Speaker 1: that distinguish a developer ready for rapid growth from 1 still facing a significant hurdle or hurdles? Speaker 1: How can investors recognize when a developer is on the verge of taking off? Now, I think everyone has their own interesting projects. So I'm gonna have everyone address this question starting with Dan. Speaker 2: Well, thanks and thanks everyone Speaker 2: for joining us today. I mean, it's an interesting question. You know, the development process Speaker 2: as we all know Speaker 2: is a long 1 Speaker 2: And it's continued to get longer. Speaker 2: I've Speaker 2: been Speaker 2: financing mining companies for 30 plus years now. Speaker 2: And it used to be quite a bit reliably Speaker 2: shorter that you could get a project from Speaker 2: a deposit stage. And that's sort of how I characterize development. You know you've got a deposit. It's not just a few drill holes. You've got a resource. Speaker 2: You've got, let's call it at least a PEA ...
