Students ‘Go for Gold’ at the third annual Goodman Gold Challenge!
The University of Toronto wins GGC for the second consecutive year!
In early February, students from 9 universities in Canada and the US competed in the 3rd Annual Goodman Gold Challenge for a chance at winning the cash equivalent of 4 ounces of gold.
Organized by Laurentian University’s Goodman School of Mines and presented by Kinross Gold, the Goodman Gold Challenge (GGC) is a mining investment competition that provides students with real-life experience while putting their academic credentials to a vital test.
10 teams competed in the 3rd edition of the Challenge and were from Laurentian University, Ryerson University, University of Ontario Institute of Technology, University of Toronto, Dalhousie University, McGill University, University of British Columbia, Kentucky University, and the University of Nevada Reno.
Students were tasked with analyzing the investment potential of three gold mining companies publicly traded and recommend one as an investment. The 2019 Case Companies were INV Metals (INV), Reunion Gold Corp. (RGD), and Wallbridge Mining Company Limited (WM).
As part of the Challenge, participants had the opportunity to listen to investment pitches made by the Executives of these three companies, as well as meet with them one-on-one to ask them about the current and projected strengths of their respective companies. After presenting their recommendation to a panel of industry experts, the University of Toronto was declared the winner of the GGC for the second consecutive year and recommended INV Metals as an investment. For their win, they were rewarded with the cash equivalent of four ounces of gold!
“A big congratulations goes out to the University of Toronto, winners of the 3rd Annual Goodman Gold Challenge, and another congratulations to all the participants whose hard work and presentations humbled those of us who have spent many years in the investment business. Having had a glimpse of what the next generation is bringing with it, gives comfort in knowing that any of the financial problems of the future will be solved”, said Jonathan Goodman, Chairman of the Goodman Gold Challenge and Chairman and CEO of Dundee Corp.
The 3rd Annual GGC received astonishing financial and in-kind support from industry partners to be able to provide participants with this great learning and life experience. Kinross Gold Corporation was the Title Sponsor of the competition for a third consecutive year, the Opening Gala was sponsored by Dundee Corp., INV Metals, Reunion Gold Corp., and Wallbridge Mining were this year’s Case Companies, Gold/ Judge Sponsors were from Aurion Resources, Canaccord Genuity, Nighthawk Gold, Orix Geoscience, RBC Capital Markets, Technica Mining, and Wesdome Gold Mines. Petryna Advertising was this year’s Media Sponsor, the Greater Sudbury Development Corporation sponsored Lunches, Snacks were sponsored by PDAC, prizes for the participants were sponsored by L.May and Glencore, and underground tours of their facilities for participants were sponsored by NORCAT.
Next year’s Goodman Gold Challenge is scheduled for February 7th and 8th, 2020. Mark your calendars as the public is invited to attend the final round of student pitches on the afternoon of the 8th and the “Oscars”-like Award Ceremony that evening!
You can find out more information about the competition on the website: www.goodmangoldchallenge.com.