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  • Pages
  • Editions
01 Cover
02 Welcome Letter / Sections
03 Article & Interview Directory
04 Section 1: Introduction
05 Introduction to Mining in Ontario
06 Government of Ontario Interview
07 Ontario Mining Association (OMA) Interview
08 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Interview
09 Navigating Uncertainty
10 Ormston List Frawley LLP Interview
11 PDAC Interview
12 Section 2: Production and Development in Ontario
13 Production in Ontario
14 Map of Ontario Mines
15 Newmont Interview
16 Barrick Gold Interview
17 Wesdome Gold Mines Interview
18 Alamos Gold Interview
19 Evolution Mining Interview
20 A New Wave of Ontario Gold Mines
21 Argonaut Gold Interview
22 Equinox Gold Interview
23 Industry Thoughts: Production and Development in Ontario
24 Section 3: Mining Finance
25 Mining Finance and Investment
26 Insights from the Toronto Stock Exchange
27 PearTree Securities Interview
28 Triple Flag Interview
29 Red Cloud Securities Interview
30 IBK Capital Interview
31 Stifel Interview
32 Roth Canada Interview
33 Industry Thoughts: Mining Finance Trends
34 Section 4: Toronto's Global Reach
35 Toronto’s Global Reach
36 Toronto's Global Reach Map
37 Rupert Resources Interview
38 Eloro Resources Interview
39 Industry Thoughts: Global Operations Based in Ontario
40 Eyes on Latin America
41 Torex Gold Resources Interview
42 Minera Alamos Interview
43 Sable Resources Interview
44 Section 5: Junior Exploration
45 Junior Exploration
46 Great Bear Resources Interview
47 Exploring Across Canada
48 O3 Mining Interview
49 Purepoint Uranium Group Interview
50 ALX Resources Interview
51 Industry Thoughts: Gold Juniors Have Their Say
52 Gold Juniors Replacing Depleting Resources
53 Moneta Gold Interview
54 Goldshore Resources Interview
55 Galleon Gold Interview
56 Element79 Gold Interview
57 Signature Resources Interview
58 Section 6: ESG and the Battery Materials Supply Chain
59 Transition Metals on the Rise
60 Conquest Resources Interview
61 Generation Mining Interview
62 Inventus Mining Interview
63 Noble Mineral Exploration Interview
64 The Move to Combat Climate Change Gathers Pace
65 Insights from Onyen Corporation
66 Thorn Associates Interview
67 Leading the Charge
68 Electra Battery Materials Interview
69 Frontier Lithium Interview
70 Industry Thoughts: Entering The Transition Economy
71 The Battery Material Supply Chain
72 ION Energy Interview
73 Clean Air Metals Interview
74 Section 7: Services, Technology and Innovation
75 Engineering, Construction & Consultancies
76 Ausenco Interview
77 Cementation Americas Interview
78 PCL Construction Interview
79 Redpath Mining Interview
80 Technological Advancements & Innovation
81 Industry Thoughts: Canadian Associations
82 EY Interview
83 Maestro Digital Mine Interview
84 Centric Mining Systems Interview
85 Industry Thoughts: OEMs Have Their Say
86 Drone Delivery Canada Interview
87 Sofvie Interview
88 Novamera Interview
89 Industry Thoughts: Paving the Way for ESG Reporting
90 Section 8: Company Profiles
91 Wesdome Company Profile
92 ION Energy Company Profile
93 PearTree Securities Company Profile
94 Ormston List Frawley Company Profile
95 Maestro Digital Mine Company Profile
96 Sofvie Company Profile
97 Credits

Chris Taylor, President and CEO,

GREAT BEAR RESOURCES

"Our project is high grade with easy access so it is insulated against the fluctuations of the gold price."

What have been some of the major highlights over the last 18 months, including the sale of GBR?

We announced Kinross’ purchase of Great Bear Resources for C$1.8 billion in late 2021, which is certainly the most important milestone for GBR. Prior to this, we completed a drilling program on our LP target of which 4 km is complete, concluding phase one and paving the way for an initial mineral resource disclosure in 2022.

The Dixie project remains GBR’s core asset, where we completed 340,000 m of drilling and Kinross has already slated a 200,000-m drill plan on the LP Fault Zone for this year. We set the wheels in motion to publish the initial resource estimate, resource follow-ups, PEA, and permitting landmarks over the next couple of years. The project has made massive progress, considering that it was discovered only two years ago.

What has been your experience with the permitting process?

In jurisdictions such as Ontario, it is crucial to establish good relationships with First Nation partners and have a clear dialogue. We are operating on traditional territories and are glad to have support for the project. We hope to enter into a mine benefits agreement with our First Nations partners over the long term. After establishing a meaningful and ongoing dialogue with local communities, the environmental survey baseline work is started. Generally, the government is easy to work with and the process is laid out which we follow in accordance with their instructions.

How did your funding strategy and share price contribute to solidifying the Kinross deal?

In early 2021, we raised enough capital to support our exploration activities for two years with around US$65 million, of which US$45 million was to be allocated to the drilling program in 2022. We also expected to produce a resource update and PEA the same year. This not only gave our shareholders the confidence that we would not go fundraising at diluted pricing, but it also solidified our strong balance sheet. Our strategy meant that we always raised money at a higher share price than the previous time, which is why we have had the lowest share count of any company with our market cap, as we have 58 million shares issued and a market cap of over US$ 1 billion.

The market expected a low-cost long-term operating project with a high rate of production and the information we released is in favor of this conclusion. As we drilled deeper into the LP fault, we noticed that the target is larger than anticipated with higher gold recovery. Therefore, those factors coupled with a rapidly moving M&A market resulted in our current share price and eventually, acquisition.

What is your outlook on gold?

Inflationary pressures are mounting so in the long-term it is only natural for metal prices to increase. Due to inflation, our drill costs increased by 15% compared to one to two years ago. Our project is high grade with easy access so it is insulated against the fluctuations of the gold price. Cryptocurrencies also impacted investment in gold particularly from young investors. However, as cryptocurrencies become heavily regulated the large returns on them will decrease and gold will attract more attention as an excellent hedge to inflation.

How are you adopting industry 4.0 processes and innovating to optimize your operations at this stage?

One of the most sophisticated software we rely on is for three-dimensional modeling. We also employ an oriented drill core. Both help us understand and interpret the orientation of gold and other geological units in the deposit. Even though these tools are costly, they save millions of dollars in the long run because drill holes are not repeated as all the information is collected. Geological information is collected daily, and multi-element geochemistry is completed on the rock coupled with the samples’ assessment for gold assays. We usually know that we are going to hit a gold zone before it is drilled so we drill with high levels of accuracy. This quality data and its real-time processing, therefore, saves us time and increases our efficiency.

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Exploring Across Canada