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Terry MacGibbon has had a long and successful career in mining all over the world, to put it simply. The executive chairman at TMAC Resources was happy to share his story and thoughts on how he became a major player in the global mining industry at Laurentian University’s Goodman Lecture Series in Sudbury on Nov. 2.
The presentation looked at how the companies were acquired, financed, managed, the sites built and how the markets influenced their success. The overarching message, he said, is that to be successful, one has to have passion, persistence and be willing to do some hard work.
“I tell anyone getting involved with junior companies to only get involved with really great assets,” MacGibbon said. “Without great assets, you have nothing. All four of the companies I talk about had really good transformative acquisitions. You need a great management team as well. If you have great assets, they are nothing without a great management team to move ahead.”
After assets and management, the next crucial step is finances. If people cannot get financing from the market, they should at least have good relationships with their investment banker and keep a good rapport with shareholders.
As well, a well-informed board will drive the company, he said. Much of the lecture focused on his involvement with four mining companies: Torex Gold, FNX Mining Company, Inc., TMAC Resources and INV metals.
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