For over 30 years, HDI has established an outstanding track record of mineral development success stories.
The predecessor to HDI was formed by Robert Hunter and Robert Dickinson in 1985. The two principals founded North American Metals Ltd.
, which partnered with Chevron Canada in the development of the Golden Bear mine near Dease Lake, British Columbia (BC). Three years after North American Metals was forged (in 1988), the company's shareholders decided to sell to Homestake Canada for $40 million. The takeover realized a total return on equity capital ($14 million) of 190% in less than three years.
In the same year, Continental Gold Corp.
began operations. The company found and explored the Mount Milligan gold-copper porphyry deposit near Mackenzie, BC and had advanced the project to the permitting stage when major mining company Placer Dome Inc. made a bid to buy the company. Continental Gold shareholders accepted an offer of C$20 per share in 1990 (total value of $177 million), realizing a total return on equity capital ($29 million) of 550% over two years.
HDI was instrumental in the development of the Kemess gold-copper porphyry deposit located in northern BC. Under the aegis of El Condor Resources Ltd.
, the Kemess project had reached the permitting stage when Royal Oak purchased the company in 1996. Sold at C$7 per share (total value of $103 million), the total realized return on equity capital ($21 million) was 400%. During its mine life, the Kemess South mine produced nearly 3 million oz gold and 800 million lb copper.
Farallon Mining Ltd.
outlined significant polymetallic mineral resources at its Campo Morado property in Mexico, including the high grade G-9 deposit. Within a short time span of four years, Farallon developed, permitted, built and put into operation the G-9 mine, achieving commercial production in April 2009, prior to being acquired by Nyrstar NV for C$409 million in an all cash transaction that was completed on January 5, 2011.
In April 2011, the Jinchuan Mining Group acquired Continental Minerals Corporation
in a transaction valued at C$447 million. Continental acquired the Xietongmen Copper-Gold Project in the Tibet Autonomous Region of China in 2004 and rapidly advanced the project, completing a positive feasibility study in 2007.
HDI launched Detour Gold Corporation
as an initial public offering on the Toronto Stock Exchange in February 2007. The company became independent over the following 18 months, as it focused on advancing the development of its flagship Detour Lake Project. With initial open pit proven and probable reserves of 15.6 million oz of gold (470 million tonnes grading 1.03 g/t at a 0.5 g/t cutoff), the mine, which reached commercial production in 2013, is expected to produce an average of 650,000 oz per year over a mine life of 20+ years.
Great Basin Gold Ltd.
was listed on the Toronto and American Stock Exchanges in 2003. While part of the HDI group, the company acquired and advanced mining assets in the Witwatersrand Basin of South Africa and the Carlin Trend of Nevada, USA. HDI first acquired the Hollister project in Nevada in 1997 and by 2001, had made a high grade gold-silver discovery. It acquired the Burnstone gold project in South Africa the following year, and successfully advanced it from exploration through feasibility. The company became independent of HDI in 2007.
Rockwell Diamonds Inc.
acquired its South African diamond properties in 2006. Today, the company is an established alluvial diamond producer holding a 74% interest in the Saxendrift operation and the Wouterspan and Niewejaarskraal development projects in South Africa. High-value 2+ carat stones comprise a significant proportion of Rockwell's annual production. The company's primary focus is to add value to existing operations, while aggressively seeking to acquire superior, advanced-stage projects. The company became independent of HDI in 2007.
Atlatsa Resources Corporation
(formerly Anooraq Resources Corporation) was the first Black Economic Empowerment company in South Africa listed on North American stock exchanges. Atlatsa holds a 51% interest in Bokoni Mines (formerly Lebowa Platinum Mines) and several other PGM properties. The company is a significant independent producer, with refined annual production from Bokoni totalling ~115,000 oz of platinum, palladium, rhodium and gold. Production capacity at the long-life mine is being expanded to 250,000 oz per year by 2016. The company became independent of HDI in 2007.
Curis Resources Ltd.
was listed on the Toronto Stock Exchange in 2011 and acquired 100% of Florence Copper, an in-situ copper recovery project in central Arizona, USA. Curis completed a positive prefeasibility study in 2013 and advanced Florence Copper to the final stages of permitting for phase 1 development in late 2014 when the company was acquired by Taseko Mines.