(February 15, 2023) - The Goodman Gold Challenge (GGC) held a special Battery Metal Edition this year from February 2-4 that saw teams from 7 Canadian and 1 American university compete in a very realistic mining investment case competition.
Organized by the Goodman School of Mines at Laurentian University and presented by Kinross Gold as the title sponsor, teams were tasked to evaluate and justify which of three case companies would be the best to invest with. Choices included real mining companies, Frontier Lithium, Magna Mining, and Generation Mining. CEO’s from each company had 30 minutes to convince teams that they should invest with them. Teams then had an opportunity to sit down with each CEO after investment presentations were complete. What competing teams did with their time of only ten minutes was totally up to them! Some teams asked hard hitting questions, while others looked at data and analytics to help form their decision.
Interactions with industry experts didn’t end with the CEO’s. Gold level sponsorships allowed for sponsors to send a representative from their company to judge the competition. This year’s gold level sponsorships judging panel consisted of highly experienced executives from Canaccord Genuity, Dundee Corporation, Kinross Gold, Orix Geoscience, RBC Capital Markets, and Technica Mining.
Participating team’s included: Laurentian University, University of British Columbia, University of Manitoba, Goodman School of Business-Brock University, Queen’s University, Toronto Metropolitan University, Bishop’s University, and the Colorado School of Mines. Many teams traveled with coaches from their universities, and spent Friday evening perfecting their presentations in preparation for the following day. Teams presented in three leagues where the top team from each league advanced to the final round of presentations. The top three teams for the 2023 GGC were Queen’s University, Bishop’s University, and the Colorado School of Mines.
Saturday night at the Awards Gala, Johnna Muinonen, President of Dumont Nickel, Magneto Investments LP, gave a keynote address about new horizons in the battery metal market.
Ultimately, Queen’s University was selected as the winner of the 5th annual Goodman Gold Challenge: Battery Metal Edition, for their “out-of-the-box” approach. They selected Frontier Lithium over other case companies, and went home with the cash equivalent of four ounces of gold.
“A big congratulations goes to Queen’s University, winners of the 5th Annual Goodman Gold Challenge and another congratulations to all participants whose hard work and presentations humbled those of us who have spent many years in the investment business. The students never fail to impress me and this year was no exception. It gives me great comfort to know that any financial problems of the future, especially with the incredible demand for battery minerals, will be in great hands with this next generation,” said Jonathan Goodman, Chairman of the Goodman Gold Challenge and Chairman and CEO of Dundee Corporation.
This learning experience would not be possible without the generous financial and in-kind support from industry partners. For the fifth year, the Title Sponsor was Kinross Gold. The Opening Gala was sponsored by Dundee Corporation, and the Thursday Evening Social was sponsored by Canaccord Genuity.
The Greater Sudbury Development Corporation sponsored Gold Coins that were given to all teams. NORCAT sponsored breakfast, MIRARCO, PDAC, and CIM Sudbury sponsored snacks, the bar sponsor was the Canadian Mineral Processors. A mine tour was sponsored by MacLean Engineering, and rock core was donated by KGHM.
The GGC organizing committee would like to thank all participating teams in this year's competition, making this, the first Battery Metal Edition, a shining success!