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'Success breeds more success' - Tectonic Metals on why the Northwest is seeing so much mining interest
Mergers and acquisitions are creating their own momentum, said Tectonic Metals' CEO Tony Reda.
On Friday Kitco recorded Kitco Roundtable.
Tectonic Metals (CVE:TECT) is a mineral exploration company focused on North America. Assets include the Tibbs project, which hosts three new Tectonic drill discoveries in the Goodpaster District and is 35 kilometres east of the Pogo Mine.
Before heading Tectonic, Reda who was part of the team that advanced Kaminak's Coffee project in the Yukon. The company was eventually bought by Goldcorp or C$520 million in 2016.
Majors have been showing interest in northwest America. In 2021 Newcrest Mining acquired Pretium for $2.8 billion. In the same year Newmont acquired GT Gold for $393 million. Both acquired companies operated in B.C.'s Golden Triangle. In the Yukon, Teck invested in Fireweed Zinc in 2019, and Rio Tinto invested in Western Copper and Gold in 2021.
"You know, success breeds more success, and that's not just on the exploration front. It's also on the permitting front, the political front, the First Nations front," said Reda.
"People go where there's opportunity, where there's a flight to safety—working in your own backyard working in jurisdictions where there is established law and it's predictable and stable."
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Mergers and acquisitions are creating their own momentum, said Tectonic Metals' CEO Tony Reda.
On Friday Kitco recorded Kitco Roundtable.
Tectonic Metals (CVE:TECT) is a mineral exploration company focused on North America. Assets include the Tibbs project, which hosts three new Tectonic drill discoveries in the Goodpaster District and is 35 kilometres east of the Pogo Mine.
Before heading Tectonic, Reda who was part of the team that advanced Kaminak's Coffee project in the Yukon. The company was eventually bought by Goldcorp or C$520 million in 2016.
Majors have been showing interest in northwest America. In 2021 Newcrest Mining acquired Pretium for $2.8 billion. In the same year Newmont acquired GT Gold for $393 million. Both acquired companies operated in B.C.'s Golden Triangle. In the Yukon, Teck invested in Fireweed Zinc in 2019, and Rio Tinto invested in Western Copper and Gold in 2021.
"You know, success breeds more success, and that's not just on the exploration front. It's also on the permitting front, the political front, the First Nations front," said Reda.
"People go where there's opportunity, where there's a flight to safety—working in your own backyard working in jurisdictions where there is established law and it's predictable and stable."