J U N E / J U L Y 2 0 1 6
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35
DIG AROUND
AND SEE
THERE'S MORE BENEATH
THE SURFACE
In a volatile market we continue to focus on execution –
operating safely and efficiently, maintaining financial
discipline and delivering sustainable value.
GOLDCORP ADVANTAGE
High-Quality, Profitable Production
Gold Focused
Investment-Grade Balance Sheet
Responsible Mining Practices
Low Political Risk
TSX:G NYSE:GG
www.goldcorp.com
and engineering that had been done. Being a small company – maybe
$5-10 million market capitalization at that time – we recognized that
to build a full-blown mine would take $150-180 million, which we
wouldn't be able to raise.
Some junior companies make the mistake of overestimating their
financing capabilities because they have a good asset. It's a good idea
to complement your management team with people who have raised
CAPEX funds before or have good access to large financings.
In our case, we completed a merger with what was called Eagle
Mountain Gold Corp. that had the gold asset in Guyana. Goldsource
Mines was a sister company of SilverCrest Mines which had success
in building this type of mine.
We were able to complement our team, in terms of talent, on the
management side and board level. We then saw the attention from
the capital markets and were able to build the mine within two years
and go into production.
RW: Was your plan to build the mine in stages?
YT: Absolutely. Given the lack of capital available at that time, we
decided to go with a more prudent phased development approach,
Gold stream recovery at the Eagle Mountain Mine shaking
table, Guyana, South America. Photos courtesy Goldsource
Mines Inc.
