The inaugural Goodman Gold Challenge held on February 22 to February 25 was a tremendous success. Six teams of undergraduate students participated in the competition: two teams representing Laurentian University’s Bharti School of Engineering and Faculty of Management, Bishop’s University from Sherbrooke, Québec, the University of Ontario Institute of Technology from Oshawa, Ryerson University from Toronto, and Kentucky University from Lexington Kentucky.
The mining investment competition challenged teams to analyze the investment potential of three gold mining companies currently listed on the TSX or TSX-V, and recommend one in which they should invest. The three companies studied were: Detour Gold Corporation, Dundee Precious Metals, and Osisko Mining.
“The competition was designed to offer students real-life experience, while putting their academic credentials to a vital test,” said Bruce Jago, Founding Executive Director, Goodman School of Mines. “Given our close proximity to mines, participants had the opportunity to visit Vale’s Copper Cliff and Coleman mines and see real mining operations in action.”
The competitors had six weeks to analyze the companies and conduct external research. On the second day of the competition, teams were pitched by Executives from each of the organizations as to why their company was the best investment, followed by an opportunity to ask questions individually. Teams then presented their recommendation to a panel of judges comprised of industry experts. The panel consisted of industry professionals from Beacon Securities, Franco Nevada, Kinross Gold, the Ministry of Northern Development and Mines, Orix Geoscience, and RBC Capital Markets.
Mining Engineering and Business students from Laurentian University were declared the winners of the competition for their recommendation of Detour Gold Corporation. Team members included: Mitchell Menard, Ryan Hunter, Anthony Foreshew and Adam Tomlinson.
The winning team received shares in Detour Gold Corporation, the company they recommended, worth the equivalent of four ounces of gold at February 24th closing price, $1,645.00 CAD. All participants of the top three teams also received ¼ ounce gold coins for their tremendous work and analysis.
The competition received astonishing financial and in-kind support by provincial and local businesses (Orix Geosciences, RBC Capital Markets, Beacon Securities Ltd., Crosstown Chevrolet, PearTree Securities, Professional Engineers of Ontario – Sudbury Chapter, CEMI, Science North, Petryna Advertising, Millar Technology, Wabi, XPS, Wallbridge Mining, the Ministry of Northern Development and Mines, and the City of Greater Sudbury.
The 2017 Goodman Gold Challenge organizing committee, chaired by Jonathan Goodman, is already getting ready for the 2nd annual Goodman Gold Challenge in 2018.
Company or organization that want to be involved in the 2nd Annual 2018 Goodman Gold Challenge, can visit www.goodmangoldchallenge.com.
About Laurentian University
Laurentian University offers an outstanding university experience in English and French, with a comprehensive approach to Indigenous education. Laurentian University, situated on the traditional territory of the Anishinabe peoples of Atikameksheng First Nation, prepares students as agents of change and empowers them to create innovative responses to local and global challenges. Laurentian’s students benefit from small class sizes and exceptional post-graduation employment rates. With nine Canada Research Chairs and eighteen research centres, Laurentian is a recognized leader in its specialized areas of research strength, which include mining innovation and exploration, stressed watershed systems, particle astrophysics and rural and northern children’s health. Laurentian University has secured over $100 million in research income in the past five years.