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Thoughts on mining in Latin America
6
Oct

Sunshine

I am back from the Denver Gold Forum in Colorado Springs, Colorado that was held in the stately Broadmoor Hotel. The first task was to get out CGL #74 that was published this past Monday, hence no blog post last week.

The DGF had record attendance this year as interest returns to the sector, which gave me the opportunity to hobnob and swap notes with some of the leading investors in the mining sector, mining analysts and notables including Ross Beaty, Frank Holmes and Gene McBurney amongst others. There was a workmanlike attitude to things with resources being deployed and work being done.

The most controversial presentation however was Marcelo Kim of Paulson & Co who criticized the massive value destruction overseen by the leading gold miners whilst managements paid themselves a pretty penny. Take a look at his presentation here.

Those of you that have followed CGL for a while may recall that a few years back I wrote a piece on executive pay of the juniors exploring in Colombia, which hands down resulted in the largest influx of comments and feedback of anything that I have written. And do you know what? The majority of comments were from the executives complaining that I was publishing publicly available information. Check out the Management Information Circular on SEDAR to find out how much your favorite executive team is taking home.

CGL has now obtained its first paid subscriber in China this week so I think I can say that CGL is a global niche publication.

Just realised that its fifty years since one of the most inept military leaders in the history books was killed. I covered the 40th anniversary of the death of Che in Bolivia, which conveniently coincided with the on-the-ground research I was doing for my Master’s thesis about Bolivia’s natural gas policy under president Evo Morales. I saw the schoolroom, I interviewed Gary Pardo and others. It is remarkable the lasting impression / aura / myth that has evolved around someone that was in many ways a failure. The myth only exists because of great photography. Good face carries the day and personality goes a long way.

News

Following the avalance of news releases over the past couple of weeks due to the two precious metals conferences, news flow has quietened down some. But, on the news front, CGL hears that Metminco (ASX:MNC) is very close to completing a feasibility study for its Miraflores project in Risaralda, and hopefully it will be published in the coming weeks.

CGS2017

Six weeks and counting, the emails are flooding in to register so the event is taking on a life of its own, which is good news.

  • Mineros SA has come on board as a sponsor, so many thanks there.
  • Newmont Mining has come on board as a sponsor, so many thanks there too.
  • And with Metminco about to complete its FS, the company has agreed to give a field trip to Miraflores on Friday 16th November. For anyone interested in this, please note, it will probably require an overnight stay so returning to Medellin on Saturday 17th or you can return to Pereira to fly out on Avianca.
  • We have about four spaces remaining in the exhibition area / core shack
  • The geology short course with Stuart Redwood is filling up and there are now just a few places left so if this is of interest I suggest you register now.

Let’s ask The Pixies what the future of CGS will be?

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