McEwen Mining Inc (MUX)

[JD400]

Fascinating interview with Steve de Jong on Kitco

A decade of pain and three months of 'beautiful times' - Steve de Jong on mining's long cycles

Apr 23, 2024 Kitco Mining Interviews
Resource investors are living in the "best environment", noted Steve de Jong, CEO of VRIFY.

Last week Jeremy Szafron, anchor at Kitco News, interviewed de Jong.

De Jong discussed the impacts of high commodity prices on mining equities, the complexities surrounding mining permits, and potential increases in mergers and acquisitions.

The metal sector has been on an upswing with gold hitting several all-time highs in 2024 and copper prices rallying. De Jong noted that the cycles are long.

"Those of us been in the sector for enough years...you get three months of beautiful times and then 9 3/4 years of absolute pain," said de Jong. "Last year was just another one of those years. I'm an internal optimist. You have to be in this sector, but seeing these commodity prices take off...you hear a lot of chatter about how come the equities aren't reacting to the commodity prices. To me that's the best environment in the world because that is your opportunity. The upside is shrinking by the moment," said de Jong.

VRIFY is a technology platform that helps resource companies present their businesses. VRIFY, which is based in Vancouver, serves over 130 clients across 70 countries, including mineral exploration companies Southern Cross Gold and Integra Resources, as well as major mining companies Teck and Kinross Gold. Last year the company announced a $6 million series-A raise.

Prior to VRIFY, de Jong was president and CEO of Integra Gold, a Quebec-focused resource exploration company focused on advancing the Lamaque Gold Project. De Jong led the business from a C$10 million valuation in 2012 to a C$590 million acquisition by Eldorado Gold Corporation in 2017. The Lamaque Gold Project is now a fully operational mine which produces approximately 200,000 ounces of gold per year and employs more than 400 people from the local community.

The conversation also covered how technological advancements are reshaping exploration and investment within the mining industry, offering insights into the macro-outlook for 2024 amid rising metal prices and evolving market dynamics.

0:00 - Introduction and State of the Mining Sector
02:15 - High Commodity Prices and Their Impact on Equities
04:07 - Retail Interest and Investment Trends in Mining
06:01 - Permitting Risks and Political Impacts on Mining
08:06 - Technological Advancements and Efficiency in Mining
10:21 - The Future of Mining Exploration with AI and Tech
13:06 - Mergers and Acquisitions: Current Landscape and Predictions
16:28 - Closing Remarks and Outlook for 2024