Stratabound Minerals in the News

The Northern Miner Podcast
Love me or hate me – The Margaret Kent (Peggy Witte) story

August 28, 2018

Episode 117, Part 1
Episode 118, Part 2
Episode 119, Part 3

Follow the links above for the Northern Miner Podcast's three part exclusive interview with Margaret Kent, Chairman of Stratabound Minerals. The Northern Miner is a leading publication serving the mining and exploration industry and providing insightful reports. This in-depth interview by Northern Miner senior staff writer Trish Saywell was carried out on the sidelines of the PDAC convention in Toronto earlier this year.

Ms Kent discusses her varied experiences in her long mining career. She reflects on the challenges faced, opportunities gained, and on how she navigated through the choppy waters of commodity cycles and financing needs. The interview provides insights and lessons from one of the leading and experienced executives in the industry. She speaks about her love for putting projects into production and changing direction to exploration with the discovery of Stratabound’s current Golden Culvert project in Yukon.

 


 

The Northern Miner
August 30, 2018

Posted by: John Cumming

Editorial: Kent, Munk shared debt regrets

At The Northern Miner, we like to think of ourselves as more than reporters of the latest news and commentaries about Canadian mining and mineral exploration.

As an institution dating back to 1915 and as co-founder of the Canadian Mining Hall of Fame, we also have a unique position in business media as chroniclers of the rich history of the Canadian mining industry and its colourful characters.

In that spirit, we are presenting on our Northern Miner Podcast in August a three-part interview series by senior staff writer Trish Saywell carried out on the sidelines of the Prospectors & Developers Association of Canada convention in Toronto in March 2018 with legendary mining executive Margaret “Peggy” Kent, who let us know “there are a few of us still left around the industry who have seen it all and done it all.”

Kent rose to Canada-wide prominence in the early 1990s as Peggy Witte in her role as CEO of gold miner Royal Oak Mines, which grew to become a major producer, with mines spanning the country.

A downturn in gold and copper prices humbled the debt-laden company, eventually forcing it into a painful receivership in the mid-1990s — but not before the company gained mainstream notoriety for environmental issues and labour problems at its Giant gold mine in Yellowknife, N.W.T., which culminated in a striking miner murdering replacement workers using explosives underground.

Now in her 60s, as she sat down with us to share what wisdom she had gained over the years as a top-level mining professional, Kent readily admits that even today, “some people love me and some people hate me.”

Within Canadian business circles, Kent was particularly prominent during Royal Oak’s outsider bid for LAC Minerals — which was ultimately acquired by Peter Munk’s Barrick Gold, in a purchase that was a major stepping stone to Barrick becoming the world’s biggest gold miner.

Kent told Saywell during the interview that Peter Munk — then in his final days — was the mining entrepreneur she most admired.

After Munk’s death in late March, in our own retelling of his remarkable life, the biggest regret in his career was Barrick taking on too much debt, particularly in its acquisition of Equinox Minerals in 2011 that left the company overexposed when gold and copper prices dived only a few years later.

“I always seemed to be, for a long time, in the wrong place at the wrong time,” Kent said of her own brushes with mining’s fickle nature. “When I was young I was very feisty. I wanted to be the contrarian.

“As you get older, you realize that there are metals cycles. Everyone is in euphoria at the top of the metals cycle. But at the top of the metals cycle isn’t the time to finance a project, or to put a project into production.”

She said having to file Royal Oak through the insolvency process “gave me a whole new perspective on life. I was no longer a naive mining professional, like I see a lot of them still are out there. My world came crashing down.”

Emphasizing that all her various companies’ decisions were approved by their boards, she did concede she “took too much risk … I’d been burned. You wake up and you don’t have a friend in the world. You don’t have anyone who will come in and save you.”

She recalled other mining and financial executives she had considered friends who withdrew from her and refused to help, and instead sat back waiting for Royal Oak’s demise to pick up assets on the cheap.

Today, as chairman of junior grassroots explorer Stratabound Minerals, Kent is content to be out of the production game and instead involved in a relatively simple gold promotion in the Yukon named Golden Culvert. It’s much smaller scale than her previous feats, but could bring substantially better financial leverage to her closest supporters if the property indeed proves to host a substantial gold deposit.

“At my age, I can’t be the road warrior I used to be, on the road two weeks out of every month, pounding the pavement to sell the stock. My strength right now is in the development field, it’s not in the production field.”

— Listen to the three-part podcast series at www.northernminer.com/podcast.


 

The Northern Miner  
April 16, 2018

Posted by: Trish Saywell

Stratabound Options Golden Culvert in Yukon

Kim Tyler was manager of project evaluations for North America at a midtier mining company in September 2016 when he first came across the Golden Culvert property in the Upper Highland Valley of southeastern Yukon, about 205 km north of the town of Watson Lake.

The property had an outcrop “the size of a transport truck” that contained multiple goldbearing quartz veins grading up to 22.8 grams per tonne gold within a lower grade gold mineralized host rock grading up to 2.2 grams gold per tonne, Tyler says. All of this was within a 3 km by 250metre wide, +30 parts per billion gold soils anomaly that was open at both ends and had never been trenched or drilled.

“I have spent over forty years in exploration and mining as a geologist, principally in gold, and Golden Culvert is simply the best earlystage exploration project I have ever come across, bar none,” Tyler says. “It is a rare thing to walk onto a project and ‘feel’ that coming up through your feet … It is a rare thing to come across such an opportunity anywhere on the planet today.”

Golden Culvert also seemed comparable, he says, with Golden Predator’s (TSXV: GPY) 3 Aces project, 20 km to the south, and to the Plateau project owned by Goldstrike Resources (TSXV: GSR), 315 km to the north.

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