We believe that transparency enhances credibility, and credibility breeds trust.
In the long term, equity markets reward junior mining companies for their credibility. The more forthcoming and transparent a company is in presenting its results, the more it will earn the trust of the market. Without credibility, the markets cannot assign full value.
Have you noticed?
- Companies with promising discoveries are more willing to share all aspects of their drill results.
- Investors are increasingly wary of companies that share only favourable sections and maps. They gravitate to companies which are more transparent.
- Investors put a great deal of faith in the opinions of third-party experts – analysts, fund managers and other mavens. These experts wield great influence in the market, and expect the companies they recommend or invest in to treat them as stakeholders and make it easy for them to follow developments.
Most mining companies understand these dynamics well. They see Corebox as a key tool for demonstrating transparency and earning credibility. A number of the industry’s most successful juniors have had their deposits modeled on Corebox. These include:
- Aurelian Resources (Fruta del Norte) – purchased by Kinross for $1.2 billion
- Andean Resources (Cerro Negro) – purchased by Goldcorp for $3.6 billion
- Richfield Ventures (Blackwater) – purchased by New Gold for $550 million
- Underworld Resources (White) – purchased by Kinross for $139 million
- Tahoe Resources (Escobal) – raised $348 million in an IPO
- Fission Energy's (Waterbury Lake) – purchased by Denison for $70 million
- Canplat's (Camino Rojo) – purchased by Goldcorp for $238 million
- Hathor Exploration (Roughrider Deposit) – purchased by Rio Tinto for $654 million