How to Attend: The seminar is complimentary. Please register for it by Tuesday, September 24, 2024, to secure your place. RSVP via Eventbrite (click HERE) if you are interested in attending it.
For its Wednesday, September 25, 2024, Discussion Group seminar, CIM’s Management and Economics Society (MES), as part of its quarterly Perspectives & Insights on Metals and Mines series, is pleased to welcome:
Douglas B. Silver
Explorationist, Mineral Economist and Financier
2023 Mining Hall of Fame Inductee
who will deliver an online presentation on:
The Lifecycle of Mineral Companies
Abstract: The minerals industry is essentially a high-risk business. There is a close correlation between the mortality rate of the mineral companies and market conditions. Consequently, most mineral resource companies have consistently short lives vs companies in other industrial sector. This presentation highlights first-time data on the relationship between mineral company lifecycles and global trends. From these data to be presented by Doug Silver, companies can have better guidance to manage their financial and asset activities for their shareholders and with longevity.
About our presenter:
Douglas “Doug” Balfour Silver graduated from the University of Arizona with a Masters degree in Economic Geology. He launched Colorado-based Balfour Holdings in 1987, where he developed new valuation techniques for a broad range of mines, mineral deposits and exploration projects. His pioneering expertise in valuations improved the due diligence process, set market values, and ultimately contributed to the drafting of industry valuation standards, such as the CIMVAL Code.
Doug Silver is a prolific writer and speaker, having given more multiple presentations, including keynote addresses at industry events such as PDAC and CIM conferences. He also supported Canadian mining through the Denver Gold Group, which he conceptualised and founded to introduce gold companies to institutional investors.
Early in his career Silver recognised the downstream value of royalty investments, and chose Canada as the place to fulfill his dream of creating not one, but two outstanding royalty portfolios. He co-founded International Royalty Corporation as a private entity in 2003, with only a small royalty from the Hemlo gold project, and then raised $190 million to expand the portfolio. IRC was the largest mining-related initial public offering on the Toronto Stock Exchange in 2005. Silver and his team turned IRC into a $749-million company within seven years by acquiring 86 royalties, with a net smelter royalty on Labrador’s giant Voisey’s Bay nickel project being IRC’s flagship asset.
After selling IRC to Royal Gold for a 60% premium in 2010, Silver joined privately-held Orion Resource Partners and focused on building his second royalty portfolio. The portfolio included a diamond stream from Stornoway Diamonds—a Canadian first—and more than a dozen royalties from projects in five Canadian provinces. The portfolio was ultimately sold in 2017 to Osisko Gold Royalties for $1.1 billion, which made Osisko the third-largest Canadian royalty company.
Doug Silver has received numerous awards for his many achievements, notably from the Society of Mining Engineering, Metallurgy and Exploration (SME), and is one of three people to be inducted into both the Canadian and the U.S. National Mining Hall of Fame.
Moderator: Terence Ortslan (Director at TSO Research – Resource Strategies and Policies), CIM MES Discussion Group Committee Member, Minerals Industry Analyst Group (MRAG) Member
Please join us!
Wednesday, September 25, 2024, at 3:30pm – 4:45pm ET (12:30pm – 1:45pm PT)
How to Attend: The seminar is complimentary. Please register for it by Tuesday, September 24, 2024, to secure your place. RSVP via Eventbrite (click HERE) if you are interested in attending it.
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Sponsored by:
About our CIM MES sponsor: IAMGOLD is an intermediate gold producer operating in North America and West Africa, with a commitment to accountable and responsible mining through our Zero Harm® culture.
About CIM MES’ Mineral Economics Discussion Group:
Since the mid-1980s, meetings of the Mineral Economics Discussion Group have taken place approximately once per month in Toronto between September and April. A regular program of meetings has taken place in Vancouver since 2015 and in Montreal since 2017. Speakers have addressed almost every aspect of the minerals industry except for strictly technical topics in geology, mining, and metallurgical engineering. A collegial, seminar-style atmosphere is fostered in order to allow lively discussion and exchange of ideas, with opportunities to network and socialize at live events. Since the start of the COVID-19 pandemic, a full program has been maintained in a webinar format that better serves all our CIM and CIM MES members and guests throughout Canada and internationally.
Keep up to date by checking us out at: www.cimmes.org
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