February 5, 2025 - The 7th Annual Goodman Gold Challenge ran from January 29 to 31, 2025 with eleven teams from across the continent competing for literal gold. In this realistic mining investment case competition, presented by Kinross Gold and organized by the Goodman School of Mines at Laurentian University, teams of undergraduate students act as finance firms looking to invest in a mining company.
Teams were tasked with evaluating and justifying which of three mining companies would make the best investment. Real CEOs from G Mining Ventures, Meridian Mining, and Omai Gold Mines had 30 minutes to convince teams to invest in their company. Teams then had time to ask the CEOs hard-hitting questions, consider important data, and discuss analytics to help form their decision. The student team that presented the most polished, professional pitch, selecting their mining company of choice, was crowned the winner.
Ultimately, it was Queen’s University that took home the title. They invested in Meridian Mining, and went home with the cash equivalent of four ounces of gold.
“All the teams gave impressive pitches,” said Jonathan Goodman, Chair of the Goodman Gold Challenge and Chair and CEO of Dundee Corporation. “The students worked hard to represent their universities, making the most of this opportunity to demonstrate their business acumen and mining industry knowledge while building new skills and relationships. Congratulations to Queen’s University on their well-deserved win.”
Dr. Nadia Mykytczuk, Executive Director of the Goodman School of Mines, commended the students on demonstrating forward thinking. “Mining is undergoing a big technology transition, and having students understand how to develop new deposits, and build successful mines will be a great asset for the industry as a whole.”
More than just a competition, the three-day event brought opportunity for students to interact with industry experts. Rick Rule, President and CEO of Rule Investment Media, gave a keynote address at the Closing Gala. Executives from Nuclear Fuels Inc., Dundee Corporation, Kinross Gold, RBC Capital Markets, Technica Mining, Magna Mining, Lakeshore Gold, SCP Resource Finance, and Let’s Roll “Ideation” Consulting made up the judging panel.
McMaster University and Laurentian University placed second and third place, receiving silver coins and all competitors received Sudbury-made miners’s lunch boxes for their participation. Students from the eleven teams learned invaluable lessons in mining sector investment decision-making and built lasting relationships with peers and industry leaders.