Ms. McLeod-Seltzer is well known in mining circles for backing proven mine finders and building successful mineral companies, including Arequipa Resources, Francisco Gold, Miramar Mining, Bear Creek Mining, Stornoway Diamonds and Peru Copper Inc. Catherine has raised over $350 million in working capital for exploration to date, and been involved in over $4 billion in corporate transactions in the mining industry. Her leadership experience, financial savvy, access to capital, and respect from the exploration and mining community has been an invaluable asset to the companies she is involved in.
Stornoway Diamonds (T.SWY) will soon own 100% of the Renard diamond project in Northern Quebec. Management is raising the money to buy the remaining 50% of the project by issuing the equivalent of 37% of company shares to Diaquem, a subsidiary of the Quebec government. The Renard project has a resource of 30 million carats, with expected production of 1.6 million carats per year. A bankable feasibility study is due Q311; if the economics are proved up, Renard will be Quebec’s first diamond mine.
The feasibility study at Santa Ana in Peru for Bear Creek Mining (V.BCM) brings them one step closer to becoming a leading silver producer. Santa Ana now has 63.2 million ounces of silver reserves, bringing the company's total to over 321 million ounces. Santa Ana should be in production by 2012, and Corani by 2014. Once both mines are in full operation, BCM will be producing 15 to 20 million ounces a year, putting it among the top pure silver companies in the world.
Pacific Rim Mining (PMU) will be delisted from the Amex on September 9. The company fell out of compliance, having less than $6 million in stockholders' equity, plus net losses in the last five fiscal years. Shares will continue to trade on the Toronto Stock Exchange (T.PMU). Concurrent with the Amex delisting, shares will trade on the OTC Bulletin Board in the U.S. as PMU.BC. The company isn't giving up, though; they just acquired a 100% interest in the Remance project in Panama, a large but early-stage epithermal gold system.
Catherine McLeod-Seltzer, a recognized leader in the minerals industry, is the Chairman of Pacific Rim Mining, Bear Creek Mining, and Stornoway Diamonds.
After spending the early years of her career working in mining Corporate Finance, both in North America and internationally, Catherine went on to co-found Arequipa Resources in 1993 with renowned mine finder J. David Lowell. Three years later, having discovered the Pierina gold deposit in Peru, Arequipa was taken over by Barrick for $1.1 billion, one of the most lucrative mining industry buyouts in the last decade. In 2003, Catherine and David joined forces once again to form Peru Copper Inc. to acquire the Toromocho Copper deposit. Three years after taking Peru Copper public, it was acquired by Chinalco for $840 million.
Ms McLeod-Seltzer is well known in mining circles for backing proven mine finders and building successful mineral companies including Arequipa Resources, Francisco Gold, Miramar Mining, Bear Creek Mining, Peru Copper Inc and Stornoway Diamonds. Catherine’s accolades include being named Mining Man of the Year by the Northern Miner in 1999; the “Award for Performance” by the Association of Women in Finance; and a position on Financial Post’s Power 50 since 2002.
Catherine has raised over $350 million in working capital for exploration to date, and been involved in over $4 billion in corporate transactions in the mining industry. Her leadership experience, financial savvy, access to capital, and respect from the exploration and mining community has been an invaluable asset to the companies she is involve in.
In addition to her current Chairman positions, she is a Director for the following companies: Pacific Rim Mining since April 1997; Bear Creek Mining since April 2000; Stornoway Diamonds since November 2001; and Kinross Gold since November 2005.
Her interview in the Explorers’ League tells of her fascinating background and the development of each of these successful companies, along with her insights into gold and investing in the resource industry.