Goodman Gold Challenge 2020 – Summary – February 6-8

The Goodman Gold Challenge (GGC) occurred from February 6-8 and saw teams from 7 Canadian universities compete in a very unique and realistic mining investment case competition.

 

Organized by the Goodman School of Mines at Laurentian University and presented by Kinross Gold as the title sponsor for the fourth consecutive year, the teams were tasked to evaluate and justify which of the three case companies would be the best to invest with.

 

What makes the Goodman Gold Challenge so unique is that the case companies are real gold mining companies and this year was no exception. Lundin Gold, Maritime Resources and Marathon Gold Corporation were the choices that the students had to pick from. On Friday, CEO’s from each company had 30 minutes to convince the teams that they should invest with them. The teams then had an opportunity to sit down with each CEO after the investment presentations were complete for 10 minutes in a one-on-one session. What they did with their time was totally up to them! Some teams asked hard-hitting questions, while others looked for data and analytics to help them form their decision.

 

The interaction with industry experts doesn’t end with the CEO’s. The gold-level sponsorship allows the sponsor to send a representative from their company to judge the competition. This year the judging panel consisted of highly experienced executives from Canaccord Genuity, Dundee Corporation, Kinross Gold, Nighthawk Gold Corp., Orix Geoscience, Osisko Mining, RBC Capital Markets, Technica Mining and Wesdome. The teams got to meet with each judge for 10 minutes in one-on-one sessions where they could receive guidance, feedback and ask questions from these highly-experienced individuals.

 

The teams spent the entire night on Friday working on and perfecting their presentations in preparation for the following day. They presented in three leagues where the top team from each league would advance to the final round of presentations. The top three teams for the 2020 Goodman Gold Challenge were McGill University, University of British Columbia and the University of Manitoba.

 

 

Saturday night at the Awards Gala Terry MacGibbon, Chairman of INV Metals INC. and 2018 Canadian Mining Hall of Fame Inductee inspired the students and guests with his keynote presentation on green mining.

 

Ultimately, The University of British Columbia was selected as the winner of the 4th annual Goodman Gold Challenge for their solid and in-depth analysis of Marathon Gold Corporation and their explanation for why they selected them over the other case companies. The team went home with the cash equivalent of four ounces of gold!

 

“A big congratulation goes to the University of British Columbia, winners of the 4th Annual Goodman Gold Challenge and another congratulation to all of the participants whose hard work and presentations humbled those of us who have spent many years in the investment business. The students never fail to impress me and this year was no exception. It gives me great comfort to know that any financial problems of the future will be in great hands with this next generation”, said Jonathan Goodman, Chairman of the Goodman Gold Challenge and Chairman and CEO of Dundee Corporation.

 

This learning experience would not be possible without the generous financial and in-kind support from industry partners. The Title Sponsor this year was Kinross Gold, the Opening Gala was sponsored by Dundee Corporation, the Thursday Evening Social was sponsored by Canaccord Genuity. XPS Expert Process Solutions and Sudbury Integrated Nickel Operations sponsored lunch, PDAC sponsored snacks, the Greater Sudbury Development Corporation sponsored Gold Coins that were given to all teams and Norcat provided Mine Tours. Lundin Gold, Marathon Gold Corporation, and Maritime Resources were the case company sponsors. The Gold Sponsors/judges were Kinross Gold, Nighthawk Gold Corp., Dundee Corporation, Canaccord Genuity, Orix Geoscience, Technica Mining, Osisko Mining, Wesdome and RBC Capital Markets.

 

The Goodman Gold Challenge organizing committee would also like to thank all of the teams that traveled across the country to participate in this year’s competition. The teams that participated were: University of British Columbia, McGill University, University of Manitoba, Laurentian University, Ted Rogers School of Management at Ryerson University, The Robert M. Buchan Department of Mining from Queens University, and York University.