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Remembering Lukas Lundin

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Billionaire mining and energy magnate Lukas Lundin died in Geneva yesterday after a courageous 2 year brain cancer battle. Lundin was a larger than life entrepreneur and adventure seeker. He synthesized information about commodities and markets, built best-in-class management teams and created immense wealth for stakeholders through frontier exploration and development. He wanted to be remembered as a company builder who was fun to work with. To say that Lukas was either was an understatement. “I have a fantastic life,” he said in a February interview . “…a nice family and it's just taking advantage of it as best I can and charge ahead. That's my advice to all people - do not think too much, just do it." He earned a reputation as a fearless leader in the treacherous field of global resource development — especially in jurisdictions others were fleeing— and is known for sticking with projects for the long-term. The Lundin Group had huge wins under Lukas’s leadership. Most r

High Drama at the 2022 Capilano Golf Ladies Club Championship

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Mum asked me to caddy in the final round of the Ladies Club Championships at Capilano Golf & Country Club today. It didn’t go as planned. What happened next was a rollercoaster of emotions and a critical life lesson. Capilano is a storied 84 year old private course in West Vancouver's British Properties. My grandfather Reg joined in 1966 and we Humphreys have been grateful members since. Each year at the Ladies Championship event, the club's best women golfers of all ages compete for the lowest combined score over two days.  Shanny (we call our beloved mum by her first name) is in her 67th year, and has been a golf-freak since she picked up the game 25 years ago.  When my parents split in the late 1990s, Shan's first call was to Capilano which confirmed she could keep her application in progress despite no longer being married to a member. My siblings and I caught her obsession by osmosis. Golf is the thing we do together. These days, Shan is a considered a super senior

Gold's Role in a Changing World Order: My New Interview with Frank Giustra

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Also: Frank’s Devastating Hyperinflation Experience, Building Gold Majors With Ian Telfer and The Famous Treasure Chest He Restored. China is “like a black hole where the gold goes in and never comes out,” says Frank Giustra, a major player in the mining industry and founder of Lionsgate Entertainment. As the largest producer and importer, Giustra believes China is under-reporting their gold reserves. “My guess is they are preparing themselves, as Russia is, to exit the US dollar system… to one where gold plays a role.” In an exclusive series of interviews with CEO.CA taped over a couple of days, Giustra says war in Europe is accelerating a bifurcation of the monetary system. Countries representing ~80% of the world’s population refused to condemn Russia for its Ukraine invasion despite pressure from the West. Meanwhile, global central banks have been selling dollars to stockpile gold. “Currency is being debased and inflation is out of control,” he says. Giustra believes CPI is manipul

Carson Seabolt: Confessions of a Stock Operator

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His story is everyone’s dream. Carson Seabolt was a commercial fisherman who clawed out of bankruptcy to build a $50 million fortune in the stock market before age 40. A fearless investor and entrepreneur, Carson makes concentrated bets on the highest-risk companies. The results have been extraordinary, such as: • Co-founding K92 Mining, a $2 billion gold producer from an initial $2 million investment • Raising $43 million from billionaire @Chamath Palihapitiya, one of the world’s most recognized investors, for a medical technology company Carson is involved in, from a cold email • Befriending and betting big on billionaire mining legend Robert Friedland, who helped Carson double his fortune On Carson’s outrageous Instagram channel, he shares a stream of consciousness about life and markets that is like a Kardashian version of CNBC. Today is Carson’s 42nd birthday. On this day 8 years ago he received the call that changed his life. Now, he shares his incredible life story

Ten Things I Learned From Visionary Restauranteur Richard Jaffray

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Repost from 2018 on the news Richard is selling his Cactus stake after 34 years. Congrats, Richard! Richard Jaffray Richard Jaffray was living in a used Dodge Dart with a roommate when he first moved to Vancouver from Ontario soon after high school. He worked as a server to save money to open his first restaurant. Today, nearly thirty years later, Richard has created nearly thirty of the highest grossing restaurants in Canada under the Cactus Club Cafe brand. In an industry known for many failures (roughly two thirds of new restaurants will go out of business within three years), the success of Cactus Club has put enormous pressure on other Canadian restaurants to raise their standards. I know Richard through friends and have been enjoying his restaurant since I was a kid. He is an inspiring founder who is kind to everyone he comes into contact with.  Here are 10 lessons for entrepreneurs from Cactus Club CEO Richard Jaffray, updated from his 2015 BCBusiness Top 100 Interview : 1. “You

How One Man Came To Own 49% Of the World’s Largest Gold Miner

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In 1990, one man incredibly owned 49% of Newmont, the world’s largest gold mining company. He was one of the wealthiest and most charismatic capitalists who ever lived. This is Sir Jimmy Goldsmith’s unbelievable story: Jimmy Goldsmith was born into a family of prosperous outsiders. His ancestors took refuge from religious persecution at the turn of the 16th century in the Jewish ghetto of Frankfurt, Germany. Forbidden from marrying outside the ghetto, members of the Goldsmith family and the famous Rothchild family intermarried and went on to build European banking dynasties. By the early 1900’s the Goldsmith family was based at a plush estate in the UK called Cavenham.   Jimmy’s father Frank became a conservative MP from 1910 until 1918. Ostracised in England during WWI due to his family’s German origin, he accepted a foreign posting during the war and later settled in France where he became a prominent hotelier and father of two boys. Jimmy Goldsmith was born in Paris in 1933 with cry

My Limited Howe Street Wisdom: Interviews of Tommy Humphreys

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April 22, 2022 - Tommy Humphreys on the Evolution of CEO.CA - Mining Stock Daily ( Link ) Sep 3, 2020 - Making and Keeping Millions from Mining Stocks with Tommy Humphreys (Mining Stock Education) May 25, 2020 - Behind Success Episode #1: Tommy Humphreys, Founder of CEO.ca (Matthew Nelson): Dec 3, 2019 - $5-$10 Million Companies Can Easily Become $50 Million (Daily Gold's Tenbagger Podcast): Nov 13, 2019 - For Investors in this Bull Market, 100 Baggers are Possible (Palisade Radio):

From Howe Street to the Big Time: Robert Friedland Celebrates 40 Years in Mining

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Robert Friedland shakes the hands of workers at the Kamoa Kakula mine in Feb 2014. Tommy Humphreys photo He’s the most celebrated mining entrepreneur alive but 40 years ago, Robert Friedland arrived in Vancouver, aged 34, with no contacts nor experience in mining. “You might say I literally entered the mining industry on my hands and knees,” Friedland told author Michael Caldwell. Crawling into an abandoned gold mine in Southern Oregon he was permanently bitten by the mining bug. “From that day on, I really knew what I wanted to do–had to do.” In mid 1982 Friedland floated Galactic Resources on the Vancouver Stock Exchange at 50 cents per share with no properties nor management. The stock hit $13.25 by 1984. For Galactic’s flagship asset, Friedland negotiated to acquire a 100 year old mining site in Colorado from ASARCO for $7 million before financing was in place. “The thing about Robert is he likes to see things finalized before he goes on to something else,” said Dr. William Bird, a

Letter From the CEO.CA Founder

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Chelsea, Rosie and me It's been an emotional roller coaster ride here for a few months. My wife and I are thrilled to be expecting the arrival of another daughter any day now, but I’ll confess, that’s not what's been preoccupying me. After spending most of my adult life building CEO.CA, I just signed a deal to sell it to a friendly listed company, subject to exchange and other customary approvals. GoldSpot Discoveries (SPOT-TSXV) has entered into an agreement to acquire CEO.CA I believe this transaction will see CEO.CA become what I have always hoped it could be. For CEO.CA’s business to grow, its value proposition to its community must grow in lock-step. Our new owners understand this and are planning to expand the product and content rapidly. They do not wish to alter the culture, privacy policy, or the brand of CEO.CA in any way. The small team you know and love (cough) of Murat, Vaughan and myself are sticking around, and we will be complemented by new blood and greater r

Is This Carbon Thing a Thing

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Decades of capital constraints for carbon offsetters are over. Wildlife Works and Hartree Partners just announced a US $2 billion, 20 project, 30 year deal to finance forrest conservation projects, for example. UN Envoy and former Bank of England governor Mark Carney's Taskforce on Scaling Voluntary Carbon Markets argues that voluntary carbon offset markets need to grow to $50-100b per year (from $320 mil) to fight climate change. Emitters are not just offsetting for virtue signalling purposes. According to Josh Crumb, a Toronto entrepreneur and commodities specialist, offsetters are motivated to attract a lower cost of capital as institutional investors demand higher ESG (Environmental, Social, and Governance) standards. Crumb expects carbon to be a bigger deal for Canada's capital markets than weed or mushrooms, where hundreds of startups have listed in the past several years. The high-speed, permanent capital structure, and risk appetite of Canada's markets are a good f

A Dollar for the Richest Gold Mine in US History

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Peter Munk (Barrick photo) The richest gold mine in US history has yielded 45+ million ounces since 1987, transforming its owner from a small player to #1 in the world. Yet a 50% stake in the same asset was valued at just a dollar a year earlier. He’d already lived an amazing life, but Peter Munk was new to the mining sector. At 16, Munk escaped Nazi occupied Hungary in 1944 on the Kastner train of 35 cattle wagons. After WW2, he moved to Canada and studied electrical engineering. Claritone, Munk’s first company, went viral in 1964 building beautiful home stereos endorsed by Frank Sinatra and later TVs. As quickly as Claritone took off it went broke over a troubled factory in Nova Scotia. Munk and partner David Gilmour dusted off and founded the largest resort in Fiji from a raw plot of oceanfront land. The venture exploded to 54 resorts in Australia and the South Pacific at its peak before fetching a $128 million sale price. Flush from Fiji, Munk returned to Canada in 1979 with design

Winemaker with golden touch returns to mining

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John Skinner of Painted Rock Estate and Meridian Mining (TSXV:MNO) In Spring 2008, mining magnate Frank Giustra’s cell phone rang. John Skinner was on the line, looking to sell a large block in Giustra’s company New Gold to fund a 'side venture’. Skinner had worked two decades funding mining deals with Yorkton Securities and Canaccord Genuity. After a string of wins in the mid 2000’s mining boom he wanted to retire from finance and pursue his dream to build a winery. Skinner’s ‘side venture’ was already staked. He’d found an idyllic property on the north shore of BC’s Skaha Lake in 2003, bought the land, and begun it’s transformation. Giustra instructed Skinner to offer the New Gold stock at a set time, and with a few keystrokes and a blip on the screen, it was gone. As fast as Giustra bought his stock that day in 2008 Skinner left the investment industry. The timing turned out to be good. As the stock market reeled from the global financial crisis Skinner built Painted Rock Estate

The last time I saw a setup this good, I banked enough for a house...

It was early 2016, and I doubted I would ever be able to afford a home in Vancouver. Six months later I bought a beautiful house with a garden big enough to practice my short game. I am a scavenger of the mining market. I look for ten baggers with less risk than pure exploration. Out of favour assets trading well below historical investment, ideally dropped by majors changing focus. Add skilled new management and good things happen if you time it right. My down payment came from a handful of startups following this formula. K92 Mining was one of them. They acquired a gold project from Barrick, the world’s top producer, for pennies on the dollar in a bear market. Around K92’s 2016 IPO I bought stock at 35 cents a share plus warrants at 45 cents. It reached $8.95 last week. - that’s a 50X return including warrants. You may have seen our reports on Skeena Resources ( 1 , 2 , 3 ). Like K92, Skeena brought new life to an old Barrick mine and has seen its share price 10X since. Sabina Gold

Beating the Odds in Venture Capital With Canadian Technology Pioneer, Norm Francis

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Entrepreneur Norm Francis was sitting pretty during the Dot Com boom, and even attended a private dinner once at Bill Gates’ house. Francis co-founded and sold a top accounting software for the early personal computer era, then created one of the leading Customer Relationship Management (“CRM”) software companies. But his biggest venture success began as a bust, and provides a valuable lesson to budding entrepreneurs: play the long game, and do right by your investors. A tablet software startup Francis co-founded in 1991, PenMagic, attracted backing from famed venture capitalists Kleiner Perkins Caufield & Byers (“Kleiner”). Hardware could not keep up with PenMagic software, and by 1994 the company was running out of steam. Rather than fold and start over, Francis and his team pivoted to CRM software and rebranded as Pivotal Corporation, keeping old investors along for the ride. Pivotal went on to enjoy tremendous success in the late 1990s, IPOd on the NASDAQ, and was later acquire