Energy & Mining International - Summer 2012 - (Page 39)
R A I N Y R I V E R R E S O U R C E S LT D .
E M I
The nearby roads, electric power and skilled labor are key advantages to developing the gold resource in western Ontario.
“You have to mine and process that material, but it’s worth doing if you look at today’s prices.”
// RAYMOND THRELKELD, president and CEO
Rainy River Resources says it is optimistic about its prospects in eastern Canada..
[ BY RUSS GAGER ]
A rising tide lifts all boats, and the same is true of mines. “In a rising gold environment, the best thing we can do is build this project and bring it to producPROFILE
Rainy River Resources Ltd.. www.rainyriverresources.com | Headquarters: Toronto | Working capital: $91 million; market capitalization $400 million | Employees: 44 Specialty: Exploring and developing gold
tion,” Rainy River Resources Ltd. President and CEO Raymond Threlkeld maintains. Threlkeld cites the favorable experiences of two other Canadian gold mining companies – Osisko Mining Corp. of Montreal, and Detour Gold Corp. in Toronto – as creating a favorable environment for Canadian gold mining investment. “They’ve seen a very nice appreciation of their share price and value to the shareholder,” Threlkeld points out. “So
we really look at the successes of those two companies as a model for us to follow. We are the third in line with a large gold deposit that will come into production in eastern Canada. We have a slight advantage in that early years of production at Rainy River will be substantially higher grade. Osisko is in production now, Detour will be in production early next year and we’re coming along right behind them. We look to their successes as being our success.”
Table of Contents for the Digital Edition of Energy & Mining International - Summer 2012