Monday 24th July 2017

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Posts tagged ‘Cambridge House International’

The ‘serially successful’

June 2nd, 2017

The International Metal Writers Conference hears Rick Rule dissect the traits of mining titans

by Greg Klein

The International Metal Writers Conference hears Rick Rule dissect the traits of mining titans

The International Metal Writers Conference hosted the world’s largest
gathering of investment newsletter writers. (Photo: www.VisionPhoto.ca)

 

“It’s all about the people.” That sentiment popped up repeatedly this week at the International Metal Writers Conference, where several speakers related their most important consideration in evaluating stocks. Maybe no one expressed it more emphatically than Zimtu Capital TSXV:ZC president Dave Hodge, whose unamplified but booming voice overwhelmed the event’s microphone-dependent speakers, even seeming to threaten the Vancouver Convention Centre with seismic damage.

“No matter what the company is, no matter what the commodity is, what makes stocks successful is the management!” he roared. “What really determines a winner in this high-risk game is the management!”

Good people, he argued, will overcome bad projects. And it wasn’t just his volume that drove the point home. As newsletter writer David Morgan noted, “I think everyone from Rick Rule on down will tell you it’s all about the people.”

The International Metal Writers Conference hears Rick Rule dissect the traits of mining titans

Rick Rule, Frank Holmes and Jayant Bhandari were
among some 50 speakers who shared their insights.

Rule expanded on that the following morning when he said, “The most important determinant for success is not properties, not assets, but rather people.” But what kind of people? Successful ones obviously, especially those Rule calls the “serially successful.” So what do they have in common?

His association with several titans of the industry led him to ponder their similarities. Some of the names he mentioned include Seymour Schulich, Aldof, Lukas and Ian Lundin, Robert Friedland, Ross Beaty, Bob Quartermain and Clive Johnson.

“This isn’t to say they haven’t had failures on occasion,” Rule acknowledged. “Robert Friedland’s first effort, Galactic, was a galactic failure.”

But there’s a compound benefit to success. Those who achieve it “attract better people,” Rule said. “The people who are serially successful attract other serially successful people to them. And they attract better projects…. Similarly with the quest for capital.”

Among their traits, they’re “pathologically curious…. I think this makes them successful because they’re not willing to accept present dogma. I think because they’re curious they approach a problem from a whole bunch of points of view. It’s certainly true that many of the properties that become successful have had three or four approaches before the approach that made them successful.”

Not surprisingly, success-mongers turn out to be “really, really hard-working and focused.” And they’re “very smart,” although intelligence alone hardly guarantees success, he warned.

Additionally, the winners prove to be “amazingly tenacious. They carry a project in good times through bad times, carry it through the bad times back into good times.” Rule says they’ll commonly remark, “Yup, on that deal I worked seven years to be an overnight success.”

And stereotypes of domineering fat cats notwithstanding, “another thing I found out is these people turn out to be extremely nice,” Rule maintained. “They are, in my experience, genuinely happy that they delivered value to their employees and shareholders…. They want to build a mine. They want to employ local people. They want their shareholders to do well.”

The International Metal Writers Conference hears Rick Rule dissect the traits of mining titans

There’s more to life than money,
insisted Zimtu Capital’s Dave Hodge.

As for their own stock, “They buy once and they sell once.” They might sell options from time to time, but they don’t cash out until their involvement in a project finishes, Rule said.

“Sadly,” the 60-something concluded, “they’re all my age…. The challenge is to find the next generation of the serially successful people.”

Echoing those comments, another well-connected industry insider believes the replacements might already be making their presence known. Mining headhunter Andrew Pollard of the Mining Recruitment Group presented six such prospects, three each on two panel discussions. One showcased a 35-and-under power trio while the other presented a threesome slightly older and commensurately closer to serial success status.

But isn’t this definition of success overly materialist? Surely life has loftier goals than ardent ambition, the lust for lucre, the mania for moolah. That was another point stressed most emphatically by Zimtu’s Dave Hodge.

“It’s not about the money!” he thundered to the four corners of the convention hall. “It’s about the bragging rights!”

‘Everyone’s hiring again’

May 24th, 2017

Mining headhunter Andrew Pollard says executive recruiting presages a wave of M&A

by Greg Klein

As an executive search firm, the Mining Recruitment Group might serve as a bellwether for the industry. Founder and self-described mining headhunter Andrew Pollard says, “I put together management teams for companies, I connect people with opportunities and opportunities with people.” In that role, he experienced the upturn well before many industry players did.

To most of them, the long-awaited resurgence arrived late last year. Pollard saw it several months earlier.

Mining headhunter Andrew Pollard says executive recruiting could presage a wave of M&A

“The market came back in a huge way, at least in the hiring side, early last year when my phone started ringing a hell of a lot more,” he explains. “There was a huge volume. And what I’ve found is that the available talent pool for executives shrank in a period of about six months. In January 2016, for example, I was working on a search and there was almost a lineup out the door of some really big-name people. What I’m finding now, a year and a half later, is that the available talent has almost evaporated. It’s much harder to recruit for senior positions.”

Lately his work suggests another industry development. “The major upturn I’m seeing in the market now is a huge demand for corporate development people who can do technical due diligence on projects. Over the last few years large mining companies and investment banks cut staff almost to the bone in that regard because no one was interested in doing deals or looking at acquisitions.”

Just completed, his most recent placement was for Sprott. “They had me looking for someone with a technical background who can do due diligence for their investments. In doing so I spoke with everyone on the street, from investment banks to some big name corporate development people and they all said the same thing: Everyone’s hiring again. These are people who couldn’t get job offers a year ago, now every single candidate on the short list for this last search has multiple offers from companies looking to get them. I haven’t seen that in five years.

“So that leads me to believe companies have been staffing up their corporate development teams. I see that as a major sign that you’re going to see M&A pick up in a huge, huge way, probably over the next three to six months.”

An early example would be last week’s Eldorado Gold TSX:ELD buyout of Integra Gold TSXV:ICG—“one of my best clients over the years”—in a deal valued at $590 million.

Mining headhunter Andrew Pollard says executive recruiting could presage a wave of M&A

Andrew Pollard: Executive recruiting “leads me to believe companies have been staffing up their corporate development teams.”

“I think there’s leverage for other companies to start pulling the trigger faster because they’re adding the expertise to get these things done.”

Having founded the Mining Recruitment Group over a decade ago at the age of 20, “a snotty kid” with only a single year of related experience, he’s placed people in companies with market caps ranging from $5 million to well over $200 million. Now in a position to pick and choose his assignments, Pollard’s business concentrates on “the roles that will have the most impact on a company’s future.” That tends to be CEO, president, COO and board appointments.

Last year he placed five CEOs, as well as other positions. Among those assignments, Pollard worked with Frank Giustra on a CEO search for Fiore Exploration TSXV:F and filled another vacancy for Treasury Metals TSX:TML as it advances Goliath toward production.

But the hiring surge coincides with an industry-wide recruitment challenge. Pollard attributes that to a demographic predicament complicated by mining’s notorious cyclicality.

During the 1990s, he points out, fewer people chose mining careers, resulting in a shortage of staffers who’d now be in their 40s and 50s. Greater numbers joined up during the more promising mid-2000s, only to “get spat out” when markets went south. Now Pollard gets a lot of calls to replace baby boomers who want to retire. Too many of those retirements are coming around the same time, he says, because stock losses during the downturn had forced executives to postpone their exit.

Now, with a wave of retirements coinciding with a demographic gap, Pollard sees a “perfect storm to identify the next batch of young leaders.”

But he also sees promise in a new generation. That inspired him to assemble Young Leaders, one of two panel discussions he’ll present at the International Metal Writers Conference in Vancouver on May 28 and 29.

“By talking with some very successful executives age 35 and under, I want to show that we need to look at people one generation younger, and foster and develop this talent.”

By talking with some very successful executives age 35 and under, I want to show that we need to look at people one generation younger, and foster and develop this talent.

Well, it’s either talent or a precocious Midas touch that distinguishes these panel members. Maverix Metals TSXV:MMX CEO Dan O’Flaherty co-founded the royalty/streaming company just last year, already accumulating assets in 10 countries and a $200-million market cap.

As president/CEO of Skyharbour Resources TSXV:SYH, Jordan Trimble proved adept at fundraising and deal-making while building a 250,000-hectare uranium-thorium exploration portfolio in Saskatchewan’s Athabasca Basin. Integra president/CEO Steve de Jong raised the company from a $10-million market cap in 2012 to last week’s $590-million takeout.

And, demographic gap notwithstanding, Pollard’s second panel features three other success stories, just a bit older but with lots of potential left after guiding three of last year’s biggest M&A deals. They’ll take part in the Vision to Exit discussion, which closes the conference on May 29.

Eira Thomas burst into prominence at the Lac de Gras diamond fields where she discovered Diavik at age 24. Her most recent major coup took place last year on the Klondike gold fields with Goldcorp’s (TSX:G) $520-million buyout of Kaminak Gold.

Featherstone Capital president/CEO Doug Forster founded and led Newmarket Gold, producing over 225,000 ounces a year from three Australian mines and enticing Kirkland Lake Gold’s (TSX:KL) billion-dollar offer.

Now chairperson of Liberty Gold TSX:LGD and a director of NexGen Energy TSX:NXE, Mark O’Dea co-founded and chaired True Gold Mining, acquired in April 2016 by Endeavour Mining TSX:EDV. Three other companies that O’Dea co-founded, led and sold were Fronteer Gold, picked up by Newmont Mining NYSE:NEM in 2011; Aurora Energy, sold to Paladin Energy TSX:PDN in 2011; and True North Nickel, in which Royal Nickel TSX:RNX bought a majority interest in 2014.

“We’ll be looking at how they go into deals, what their philosophy is, what’s their current reading of the market and what they’re going to do next. They each have a big future ahead of them.”

Pollard’s two panel discussions take place at the International Metal Writers Conference on May 28 and 29 at the Vancouver Convention Centre East. Pre-register for free or pay $20 at the door.

In all, the conference brings generations of talent, expertise and insight to an audience of industry insiders and investors alike.

Read more about the International Metal Writers Conference.

Expediting opportunity

May 12th, 2017

The International Metal Writers Conference brings experts, CEOs and investors to Vancouver

by Greg Klein

Listen to the analysts, pick up some tips and meet company reps face-to-face—what better way for investors to scrutinize opportunities in junior mining? As the market returns so does Cambridge House International with its Vancouver spring event, now called the International Metal Writers Conference and taking place May 28 to 29. Something like 50 speakers and 60 exhibitors will take part, promising a busy, productive and maybe profitable two days.

The International Metal Writers Conference brings experts, CEOs and investors to Vancouver

As the market returns, the timing’s ideal for the world’s
junior mining capital to host this two-day investors’ conference.

It’s the largest gathering of investment newsletter writers from around the world, says Cambridge House. As president Jay Martin notes, “These are people who actively track companies and provide great analysis, so it’s time to bring them back to the podium. We have speakers with exceptional track records over the last year or two. Investors come to us to expedite their research process, so we seek out individuals successful in picking companies with impressive share price performance.”

On hand will be not just newsletter writers but also big name analysts—Rick Rule and Frank Holmes, for example—who became rich and famous by first of all becoming rich. Successful mine-finders, up-and-coming explorers and others will join in presentations, workshops and panel discussions.

With so many speakers, viewpoints will reflect a wide range of perspectives. But the focus remains tight. “It’s 100% junior mining,” Martin emphasizes.

Exhibitors have been capped at 60. “We absolutely could have accommodated a larger number but we wanted to be a bit more selective. It provides a greater way to show all the companies in proportion to attendees.”

As for the latter, Martin’s forecasting 3,000 to 3,500, based on the pace of pre-registration. These are real players, people with a considerable stake in the game. Surveys of recent Cambridge House conferences show over 50% of attendees have invested over $100,000 each. Some 20% have invested over $500,000. “I expect both those numbers to increase,” he says, crediting the upturn. “More people are coming out, more gains are being made. It’s a good time to be an investor in junior mining.”

There really is no better method of investor due diligence than face-to-face conversation with company management.—Jay Martin, president of Cambridge House International

One of the advantages they’ll find is the Cambridge House concierge service. “Even before you walk in the door you can already have lined up several pre-arranged one-on-one meetings with all the companies you’re interested in,” Martin explains. “That’s in addition to walking on the trade show floor, seeing what’s interesting and having some spontaneous conversations. We’ll have a VIP concierge room off to the side, so if you’ve requested a meeting there’ll be a host to greet you, a private table waiting for you and coffee ready. Anything we can do to improve your experience we’re working on it because there really is no better method of investor due diligence than face-to-face conversation with company management, and we’re happy to provide that.”

Attendees can request the company interviews during the free online registration process.

One disappointment, though. The final event, One Million Ounces of Gold, isn’t a door prize. But there’s an intriguing consolation. “It’s a feature we’re assembling with Frank Holmes,” Martin says. “We’re assembling a variety of junior gold-producing companies that collectively account for one million ounces of gold production.” The panel discussion promises insight into the yellow metal as seen by those who actually produce it.

Hosting these conferences keeps Martin tuned in to the mood of the market and the word on the street. He’s convinced that a solid foundation supports today’s resurgent optimism.

“It’s time to get back in the market for sure. It’s been an amazing nine months, though a little bit rocky over the past few weeks, but I think we know how this is going to play out over the next couple of years. And in 2019 I think there’ll be investors who wish they had come back to the space in 2017, with the group that’s getting in today.”

The International Metal Writers Conference takes place May 28 and 29 under the sails at the Vancouver Convention Centre East. Avoid the $20 door charge by pre-registering for free.

“It’s going to be an excellent two days,” Martin enthuses.

Infographic: VRIC 2017 approaches but there’s still time for free registration

January 18th, 2017
Infographic: VRIC 2017 approaches but there’s still time for free registration

Ever-popular Yukon Dan returns to AME B.C.’s Roundup, overlapping with VRIC.

You might want to be there just for the buzz—the world’s largest investor event for resource exploration returns amid revived optimism. This is the opportunity to learn from the experts, meet the companies and soak up the gossip.

There’s simply no better place to do that than Cambridge House International’s Vancouver Resource Investment Conference 2017, taking place January 22 and 23.

By fortunate design, VRIC overlaps with AME B.C.’s Roundup 2017, the Association for Mineral Exploration British Columbia’s annual conference. Roundup officially runs January 23 to 26, but pre-events include the family-friendly Discovery Day on January 22 from 10 a.m. to 2 p.m.

Roundup and VRIC take place side by side, at the Vancouver Convention Centre East and West. Follow the links for Roundup registration and VRIC registration.

 

Infographic: VRIC 2017 approaches but there’s still time for free registration

Optimism’s back. So is VRIC

January 2nd, 2017

The Vancouver Resource Investment Conference 2017 readies for a resurgence

The Vancouver Resource Investment Conference 2017 readies for a resurgence

The VRIC buzz replaces the word on the street.

 

Optimism has returned to the markets. So have opportunities. Will the upturn continue? And if so, what’s the best way to gain advantage? Those will be among the topics scrutinized on January 22 and 23 as the Vancouver Resource Investment Conference makes its 2017 appearance. It’s the world’s largest investor event dedicated to resource exploration and this just might turn out to be a pivotal year for commodities.

The Vancouver Resource Investment Conference 2017 readies for a resurgence

Vancouver being the world capital of mineral exploration, those juniors will be out in force, making up most of the event’s more than 200 exhibitors. But that’s a majority, not a monopoly. Oil and gas, renewable energy and financial services count among the other sectors taking up exhibition hall tables.

This is the chance to talk face to face, ask tough questions and size up the people behind the projects.

It’s also the chance to listen to some of the keenest commentators on resource-related topics. People like Rick Rule, Frank Holmes, Doug Casey, Jonathan Goodman, Joe Martin, Brent Cook, Keith Neumeyer and many others will share their insights. Supply and demand, commodity prices, macro-economics, geopolitical issues can all affect wise investment decisions. These are people who study those topics from an investor’s perspective.

This marks the fourth conference co-produced by Cambridge House International (with a history of successful events dating to the early ’90s) and Katusa Research. The show features not only Marin Katusa’s insight—the researcher/analyst/author/portfolio manager has raised over $1 billion for mining and energy—but also his style. Acting as host, he promises to question, debate and even interrogate some of the speakers.

Additionally, VRIC 2017’s a place where deals get done. Rubbing shoulders with retail investors will be those of the accredited and institutional categories. All that contributes to the distinct VRIC ambience, where the buzz of the convention centre replaces the word on the street.

The Vancouver Resource Investment Conference 2017 takes place January 22 and 23 at the Vancouver Convention Centre West. Avoid the $20 door charge by pre-registering here.

 

The Vancouver Resource Investment Conference 2017 readies for a resurgence

Frank Holmes addresses a packed crowd at last year’s VRIC.

 

The Vancouver Resource Investment Conference 2017 readies for a resurgence

The Vancouver Convention Centre once again hosts
the world’s largest investor event dedicated to resource exploration.

Cambridge House founder Joe Martin sees new financing opportunities for juniors through electronic media

July 8th, 2016

…Read more

Rick Rule offers anecdotal evidence to forecast the bull market’s return

February 29th, 2016

…Read more

Cambridge House International president Jay Martin looks forward to the Vancouver Resource Investment Conference

February 10th, 2016

…Read more

VRIC in pix: The Vancouver Resource Investment Conference 2016

February 1st, 2016

by Greg Klein | February 1, 2016

The world’s largest investment conference focused on mineral exploration returned to the world’s capital of mineral exploration on January 24 and 25. Some attendees, exhibitors and presenters spoke of a more buoyant atmosphere this year, suggesting a growing optimism despite the market malaise. To try to capture that mood, we offer a retrospective in photos.

VRIC in pix The Vancouver Resource Investment Conference 2016

Rick Rule at VRIC 2016: When begins the end of the bear market?

January 25th, 2016

by Greg Klein | January 25, 2016

Rick’s best-known rule maintains that bear markets beget bulls. But the stockbroker guru who says “I’m party to numerous conflicts of interest and actively soliciting more” offered a Vancouver Resource Investment Conference audience his prediction on when the horned beast might return. Emphasizing his forecast is based not on hard data but on anecdotal evidence, he suggested late 2017 or early 2018. That indication, again anecdotal, comes from issuer capitulation.

Rule defines issuer capitulation as the time when equity issuers realize they can no longer defer financings while waiting for more favourable circumstances.

At such a time they lose the high expectations caused by the previous bull. “From a cheque-writer’s point of view, bear market capitulation is what performance is made of,” Rule said.

Rick Rule at VRIC 2016 When begins the end of the bear market?

The ever-popular Rick Rule held court
on and off the stage at VRIC 2016.

His observations span the last three market declines. For example in July 2000, after about 30 very bearish months, people like the Lundin family, Robert Friedland, Bob Quartermain and Ross Beaty decided the only way they could find and develop deposits was “to acquire capital on whatever terms are necessary.”

Expensive the capital might have been, but it allowed their companies to generate news during a news vacuum, Rule argued. He said those companies “doubled in 12 months” and doubled again the following year.

“I would argue that it was the performance exhibited by those companies in conjunction with the rolling over of the U.S. dollar that gave us that wonderful lift-off market that we enjoyed in the second part of 2002…. I believe we’re starting to see that today.”

Such issuers “understand they need to move forward, and to move forward they need to price equity at a level that attracts equity. They get to go back to work, they get to drill, they get to explore, they get to stake.”

He believes recovery takes place about 18 to 24 months after the first quarter of issuer capitulation. If that holds true, he said, late 2017 or early 2018 “should begin to show the market we enjoyed in 2002 and 2003.”

Rule acknowledged a longer timeframe might be necessary for the juniors. But any improvement in larger companies could benefit active small-caps, he pointed out.