The Dilemma of Gold Companies

Thank you for your introduction and the opportunity to speak at such an important forum. I feel honoured to be the Tas McKee speaker for this yearÆs conference. I can honestly say that Tas McKee typified the spirit that has ensured the survival of the mining industry despite the modern-day challenges that we encounter. He was one of the most influential people in the New Zealand minerals industry. In 1938, with his father and brother, Tas established Lime & Marble Limited. Over its history, this company evolved from its original base of marble mining to diversify into gold mining and exploration for other industrial minerals, uranium, precious and base metals. He was truly a pioneer that persevered against the odds.   That leads me to the subject of my discussion today. I am going to delve into todayÆs challenges as they apply to gold companies. While we gold miners should be generating record returns, the gold industry shareholder return performance in this buoyant market has barely equalled that of the gold price. It is a dilemma but one that can be resolved with the right strategy.