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Value through partnerships a key message at annual BC exploration conference

by Kylie Williams on February 27, 2017 news

David Garofalo, President and CEO of Goldcorp, shared the company’s plan to invest US$100 million in partnering with a portfolio of junior exploration projects

David Garofalo, President and CEO of Goldcorp, shared the company’s plan to invest US$100 million in partnering with a portfolio of junior exploration projects to spread the risk of greenfields exploration, at the AME’s Mineral Exploration Roundup. Photo Credit: Velour Productions/AME.

Robert Patterson, VP of Minalytix, spoke about their partnership with Geosoft to release MX Deposit

Robert Patterson, VP of Minalytix, spoke about their partnership with Geosoft to release MX Deposit, a Software-as-a-Service (SaaS) solution for drill hole and sample data management at the Geosoft User Group Meeting held during the Roundup.

Industry leaders emphasised the importance of forming strategic partnerships during their keynote addresses to the Association for Mineral Exploration’s (AME) Roundup conference in Vancouver in January. David Garofalo, President and CEO of Goldcorp, and Don Lindsay, President and CEO of Teck Resources, set the cautiously optimistic tone of the meeting by each stressing how important it is to work together in a recovering, but still volatile, market.

Garofalo shared Goldcorp’s plan to invest US$100 million in partnering with a portfolio of junior exploration projects to spread the risk of greenfields exploration, while Lindsay expanded on the benefits of the NuevaUnión (New Union) partnership between Teck and Goldcorp in Chile. The pair are co-developing neighboring orebodies just 40 kilometres apart, lowering capital costs for both companies, lengthening mine life, streamlining community relationships and reducing the environmental impact.

“The volatility we have seen has forced the industry to examine how we allocate capital more efficiently and to invest in productivity,” said Lindsay, “We need to find synergies with partners and look at things differently than we have before.”

Partnerships are not limited to the major miners and junior explorers. First Nations, local communities, product and service providers are reaping the benefits of working together too. Geotech Drilling, for example, recently joined forces with the Tahltan Nation Development Corporation (TNDC) to create Tahltech Drilling Services. The partnership provides opportunities in the drilling industry to community members within the Tahltan First Nation Territory, and allows mining companies in BC’s burgeoning Golden Triangle area to include more aboriginal businesses in their supply chain.

Geosoft and Minalytix announced a new partnership to commercially release MX Deposit, a Software-as-a-Service (SaaS) solution for drill hole and sample data management. Geosoft previewed MX Deposit at their booth during the conference, and Robert Patterson, VP of Minalytix, spoke about the brand-new partnership at the Geosoft User Group Meeting (UGM).
“It’s a truly mobile solution that can be implemented in one day,” Patterson explained to more than 50 interested geoscientists, GIS professionals and data managers at the UGM, “We’ve developed the app to handle off-line data management in field situations, and added a collaborative feed so members of the team can see data as it’s added and make comments, promoting collaboration.”

The scalable SaaS model means juniors can spend less on software, Patterson explained, and more on exploration. Larger companies can transfer software from a capital to an operational expense, and users can be easily added as new drilling programs get underway.

“We’re excited to join forces to help our exploration customers gain new efficiencies, and extract more value from their geoscience data assets.” said Tim Dobush, Chief Executive Officer of Geosoft in the release.

Attendance at AME’s 35th Roundup conference was eight percent higher than the previous year, with 5,834 participants from 43 countries. The overall mood was much more positive than 12 months earlier, when the TSX registered its first gains in over three years and markets began to show signs of recovery. Overall, cautious optimism was in the air at the conference, and a similar energy could be felt at the Vancouver Resource Investment Conference 2017 conference run by Cambridge House January 20-21 at a neighboring venue.