John Anderson: Chairman of Triumph Gold Talks Goldcorp 19.9% Investment and Kaminak Takeover
John Anderson is a mining investor and the Chairman of Triumph Gold (TSX-V:TIG), a company that represents Palisade’s largest holding.
Triumph Gold (formerly Northern Freegold) is an exploration company with a large low-grade deposit of 6 million ounce gold equivalent.
John explains that Triumph is an optionality play. When the market moves you can see large swings in share price. Yet, there is a lot of exploration potential at the property. This is a leveraged call on gold and even copper. Triumph has been putting together a really good management team over the past year.
Goldcorp recently bought a property close to Triumph, called Kaminak for $520 million. Triumph has the advantage of already having roads and other infrastructure nearby.
Goldcorp has since invested in Triumph, and John says they have been fantastic to deal with. They like the team and haven’t placed any demands on management.
Triumph also hired Tony Barreshi a geologist who is now their VP of Exploration. Tony has reviewed the data on the deposits and has some good theories as to the location of higher-grade deposits. They have four new exploration ideas and will be drilling a minimum of 12,000 meters this year.
Palisade is a major shareholder of Triumph Gold (TSX-V:TIG & OTCMKTS:NFRGF) stock having invested $1M in the open market in the past 12 months.