Description

Location: Atlantis Hotel & Casino, Reno, NV

Contact: gsn@gsnv.org

GSN Membership Meeting—FEBRUARY 16, 2024 meeting

and Ralph J. Roberts Annual Distinguished Lecture

Guest Speaker:  Moira Smith, Semi-Retired Geologist

TITLE: “Mineral Exploration: Where we might (or might not) be headed in 2024 and beyond” (See abstract & Bio below)

Date:   Friday, February 16, 2024

Time:  Drinks @ 6:00 pm, Dinner @ 6:30 pm, Talk @ 7:30 pm

Location:  Atlantis Hotel and Casino

Dinner Cost: $60.00 per person

Reservations are due by 5 p.m. on MONDAY, FEBRUARY 12th!

NOTE: You will be invoiced $60 if you do not cancel your reservation by Wednesday, February 14th.

Payment Options:

  • SCROLL DOWN TO PREPAY FOR DINNER WITH A CREDIT CARD
  • SCROLL DOWN TO RSVP and pay at the door
  • Non-Members Social Hour cost is $10 payable at the door


Abstract:

Recent years have presented both opportunity and heartbreak in the minerals exploration industry.  While gold and most other LME-traded metal prices have remained relatively high or stable, most junior exploration companies have struggled with low valuations and lack of access to capital, while even mining companies with healthy operations have seen share prices and market capitalization fall or remain flat.  The decoupling of share prices from metals prices has become acute in recent years and unless reversed, this trend may threaten the viability of the minerals industry as we know it.

Minerals explorers have employed a number of strategies to help counter the trend of lower valuations and lack of capital, including: Pivoting from “traditional” metals to “critical” metals supplying the green energy transition; employing fewer people, doing less drilling and field work and realizing greater efficiencies through use of AI and new technology; and gaining social acceptance and preserving access to capital through ESG and DEI programs.  Some companies have been successful, while others, facing volatile prices for lesser-known metals and minerals, rising prices, depleted treasuries and lack of new discoveries, have not.

This may be a good time for us all to reflect on the flight of investors and capital from the exploration and mining industry and ask ourselves what we can do to help stem the tide.  Even accepting that mineral exploration has always been speculative and high risk, in recent years the junior exploration model in particular has not generated returns comparable to other sectors. A lack of discoveries and a business model that favours short-lived stories and promotional plays that are not sustainable in the long term harms all companies, including those with potentially viable projects.  In order to restore confidence in the junior exploration space, we all need to 1) resist the urge to form new companies around marginal assets; 2) work only on projects with a viable path to a producing mine; 3) walk away from zombie companies with no hope of recovery; 4) not waste money in the good times; 5) stay current on new technology that increases efficiency and accuracy/quality of resources; bring metallurgy, engineering, infrastructure and other factors into the equation sooner and 6) understand the industry we work for, not just the rocks.

Bio:

Dr. Smith was, until recently, the V.P. of Exploration and Geoscience for Liberty Gold Corp, with development properties in Idaho, Utah and Turkey.  She is now a semi-retired consultant to Liberty Gold, with a focus on the advancement of the Black Pine Carlin-type gold oxide deposit in southeastern Idaho and identifying the next big opportunity for Liberty Gold.

Formerly Chief Geologist, Nevada for Fronteer Gold, Dr. Smith was instrumental in the successful advancement of Long Canyon, now an operating gold mine in Nevada. She developed an understanding of the geology and controls on mineralization at Long Canyon, and built the geological model for ongoing exploration and resource growth. Prior to Fronteer Gold, she managed exploration programs for Teck on several high-profile, advanced-stage gold and copper-gold projects (now operating mines) throughout the Americas, including the Pogo gold deposit in Alaska, the Cobre Panama Cu-Mo-Au porphyry deposit in Panama and the El Limon gold deposit in Mexico.

Dr. Smith has a Ph.D. in geology from the University of Arizona (1990) and is a P.Geo. (British Columbia). She has held board or executive positions with numerous industry associations and is a past president of the Society of Economic Geologists.  She was a recipient of the Colin Spence award from the Association for Mineral Exploration of B.C. Dr. Smith is also a director of Discovery Metals Corp.

Details

05/17/2024 18:00:0005/17/2024 21:00:00America/Los_AngelesGSN Regular Membership Meeting & RALPH J. ROBERTS ANNUAL DISTINGUISHED LECTUREGSN Membership Meeting—FEBRUARY 16, 2024 meeting

and Ralph J. Roberts Annual Distinguished Lecture

Guest Speaker:  Moira Smith, Semi-Retired Geologist TITLE: “Mineral Exploration: Where we might (or might not) be headed in 2024 and beyond” (See abstract & Bio below) Date:   Friday, February 16, 2024 Time:  Drinks @ 6:00 pm, Dinner @ 6:30 pm, Talk @ 7:30 pm Location:  Atlantis Hotel and Casino Dinner Cost: $60.00 per person Reservations are due by 5 p.m. on MONDAY, FEBRUARY 12th! NOTE: You will be invoiced $60 if you do not cancel your reservation by Wednesday, February 14th. Payment Options:
  • SCROLL DOWN TO PREPAY FOR DINNER WITH A CREDIT CARD
  • SCROLL DOWN TO RSVP and pay at the door
  • Non-Members Social Hour cost is $10 payable at the door

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Abstract: Recent years have presented both opportunity and heartbreak in the minerals exploration industry.  While gold and most other LME-traded metal prices have remained relatively high or stable, most junior exploration companies have struggled with low valuations and lack of access to capital, while even mining companies with healthy operations have seen share prices and market capitalization fall or remain flat.  The decoupling of share prices from metals prices has become acute in recent years and unless reversed, this trend may threaten the viability of the minerals industry as we know it. Minerals explorers have employed a number of strategies to help counter the trend of lower valuations and lack of capital, including: Pivoting from “traditional” metals to “critical” metals supplying the green energy transition; employing fewer people, doing less drilling and field work and realizing greater efficiencies through use of AI and new technology; and gaining social acceptance and preserving access to capital through ESG and DEI programs.  Some companies have been successful, while others, facing volatile prices for lesser-known metals and minerals, rising prices, depleted treasuries and lack of new discoveries, have not. This may be a good time for us all to reflect on the flight of investors and capital from the exploration and mining industry and ask ourselves what we can do to help stem the tide.  Even accepting that mineral exploration has always been speculative and high risk, in recent years the junior exploration model in particular has not generated returns comparable to other sectors. A lack of discoveries and a business model that favours short-lived stories and promotional plays that are not sustainable in the long term harms all companies, including those with potentially viable projects.  In order to restore confidence in the junior exploration space, we all need to 1) resist the urge to form new companies around marginal assets; 2) work only on projects with a viable path to a producing mine; 3) walk away from zombie companies with no hope of recovery; 4) not waste money in the good times; 5) stay current on new technology that increases efficiency and accuracy/quality of resources; bring metallurgy, engineering, infrastructure and other factors into the equation sooner and 6) understand the industry we work for, not just the rocks. Bio: Dr. Smith was, until recently, the V.P. of Exploration and Geoscience for Liberty Gold Corp, with development properties in Idaho, Utah and Turkey.  She is now a semi-retired consultant to Liberty Gold, with a focus on the advancement of the Black Pine Carlin-type gold oxide deposit in southeastern Idaho and identifying the next big opportunity for Liberty Gold. Formerly Chief Geologist, Nevada for Fronteer Gold, Dr. Smith was instrumental in the successful advancement of Long Canyon, now an operating gold mine in Nevada. She developed an understanding of the geology and controls on mineralization at Long Canyon, and built the geological model for ongoing exploration and resource growth. Prior to Fronteer Gold, she managed exploration programs for Teck on several high-profile, advanced-stage gold and copper-gold projects (now operating mines) throughout the Americas, including the Pogo gold deposit in Alaska, the Cobre Panama Cu-Mo-Au porphyry deposit in Panama and the El Limon gold deposit in Mexico. Dr. Smith has a Ph.D. in geology from the University of Arizona (1990) and is a P.Geo. (British Columbia). She has held board or executive positions with numerous industry associations and is a past president of the Society of Economic Geologists.  She was a recipient of the Colin Spence award from the Association for Mineral Exploration of B.C. Dr. Smith is also a director of Discovery Metals Corp.
Reno, NV
Event StartsEvent Ends
05/17/202405/17/2024
All Day Event
6:00pm9:00pm