The Silicon Review
Gold mining is a highly volatile global business with operations on almost every continent. In recent times, gold mining operations have become increasingly geographically diverse when compared to the last few decades, where concentrated supply was found only in South Africa. Even though we have witnessed a surge in levels of mine productions, new discoveries are becoming incredibly rare, and constraints also hit production levels. Gold mining and mine production will not quickly respond to the price changes. The mine lifecycle and project development timeline often take several years to move from the discovery stage to the production stage.
Globally there are various companies involved in gold discovery and mining, but Goldshore Resources Inc. stands out from the rest. Goldshore Resources Inc. (“Goldshore” or the “Company”) is a newly formed, newly listed gold development company in Northern Ontario, Canada. Goldshore’s property is known as the Moss Lake project and has a very large land package; easy access to all necessary infrastructures, and has an existing historical c.4M oz. gold resource. It is well funded to achieve its near term and medium-term objectives and looks to increase the quantity and quality of the resource through a 100,000m drilling campaign over the next 18 to 24 months, and updating a historical 2013 Preliminary Economic Assessment towards establishing Moss Lake as a bonafide project for construction and production.
In conversation with Brett Richards, CEO and Director of Goldshore Resources Inc.
Q. How do you deal with increased cost of production and labor in the mining industry?
Being a mid-stage exploration company, we have a lot of fixed-cost contracts with people, consultants, contractors, and suppliers. So the inflationary pressures that are being felt in today’s market are tempered by the nature of our activities – given the stage of development we are in.
Q. How can you make the mining process more sustainable for environment?
I think that exploration, mining/extraction, processing, and other production activities can work symbiotically with all stakeholders: local and host communities and the environment we work in and around. It takes strong leadership to establish meaningful and appropriate policy(s); and even stronger leadership to execute against those policy(s), measure the performance in the areas of ESG (Environment, Social and Governance) and present to stakeholders and shareholders alike; the results of that execution as compared to best practices and industry-leading standards.
Q. What is the important factor that contributes majorly to the success of your business?
Well, having a great project or robust ore body is a great start!! But in all seriousness, it starts with geology. It takes a disciplined approach from exploration to operation - with methodical engineering standards and practices geared to prove reliability and predictability at all stages of development, through to production. Managing people and processes to adapt these principles is key to reliable and successful results. But a real good ore body helps too!!!
Q. How do you protect the interest of the investors in gold mining?
I think risk management starts from the CEO and moves down through the organization in all facets of the business. In our role as fiduciaries, we need to assess almost every decision we make by analyzing our strengths, weaknesses, opportunities, and threats – and then applying a disciplined engineering-based approach in the path of deploying capital and developing/advancing the business.
Q. Do you contribute to the growth of the community around the mining facility?
I am convinced that mining companies can operate responsibly and pro-actively in their communities through the necessary collaboration, consultation, and engagement with the relevant stakeholders who are impacted (positively and possibly negatively) by the business. At Goldshore, we have regular consultation meetings with our host communities to establish and prioritize the economic capacity building of the host communities through employment opportunities, contractor opportunities, and general goodwill to make step changes in community well-being.
Q. What’s your take on Climate change?
Personally, I am a firm believer that Climate change is upon us, and we now see the effects of the past 150+ years of heavy carbon-based industrialization. I also believe that it will take one very large carbon footprint to extract the minerals in the earth required to change the trajectory of Climate change and create a more sustainable environment for future generations. This global shift took almost 200 years to occur, and it will take decades to reverse. The key will be a disciplined global pact that goes way beyond current G7 / United Nations accords and agreements.
Q. What does the future hold for your company and its customers? Are exciting things on the way?
Goldshore Resources is on a very distinct path to expand the geological and economic understanding of the current Moss Lake Project in Ontario. Although these development paths take time, we are at a stage where we will have very clear, positive and regular news flow very soon in the future, so the market and our investors can watch the project take shape as we take it through its various stages of exploration and development. I am very excited about the next 18 months for Goldshore!!
Meet the leader behind the success of Goldshore Resources Inc.
Brett Richards, CEO and Director of Goldshore Resources Inc. has over 35 years of experience in mining and metals including mine financing, mine development, mine construction, senior level operations and M&A. Brett has been the CEO of several private and publicly traded mining companies, and currently sits on two external public boards and has an extensive global network.