Vancouver-based gold exploration firm GoldMining Inc. (GOLD:TSX; GLDLF:OTCQX) announced in a news release, that it has appointed veteran industry executive Ian Telfer as chairman of the Advisory Board of Gold Royalty Corp., a subsidiary of the company.
GoldMining's Chairman Amir Adnani stated, "We are honored that Ian Telfer, a giant of both the gold mining and streaming industries, has joined Gold Royalty. As a visionary mining entrepreneur, Ian built and led a series of very successful companies through strategically timed mergers and acquisitions, including Wheaton River, which became Goldcorp, Wheaton Precious Metals and Uranium One. The companies that he founded or led reached a combined market capitalization of more than $50 billion at their peaks. Ian's achievements earned him the honor of being appointed Chairman of the World Gold Council (2009-2013) and being named to the Canadian Mining Hall of Fame (2015) and the Canadian Business Hall of Fame (2018). His knowledge and experience evident through this impressive track record of success will be invaluable to Gold Royalty."
Gold Royalty Corp's. Chairman and CEO David Garofalo commented, "When it comes to the gold business, Ian is a luminary with an unparalleled 35-year track record. When he took the helm at Wheaton River in 2001, he grew a company from a value of roughly $10 million to $2.4 billion over a short three-year period and ultimately to the biggest merger in the history of the sector when Goldcorp merged with Newmont in 2019. Ian also pioneered the streaming model which was spun out of Goldcorp and became Wheaton Precious Metals."
Ian Telfer remarked, "I am pleased to chair Gold Royalty's advisory board and I look forward to working with David Garofalo, Amir Adnani and the team as we build out this exciting new royalty company. The royalty business has evolved into a crucial and high margin component of the mining industry. The initial platform of 14 royalties on Goldmining's projects, gives us a strong platform from which we can grow a business which will look to be a sector consolidator."
The company noted that Ian Telfer is well known in the mining and resources industry for his strategic operating success. Telfer previously served as CEO of Wheaton River until it merged with Goldcorp in 2005 at which time he then assumed the position of president and CEO of Goldcorp. He was later appointed as Goldcorp's Chairman of the Board in 2006 and held that title until 2019 when Goldcorp merged with Newmont Mining.
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