Visualizing The Journey of a Mining Entrepreneur
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Visualizing the Journey of a Mining Entrepreneur



The following content is sponsored by Cartier Resources

Mining Entrepreneur

Visualizing the Journey of a Mining Entrepreneur

Mining may be an industry nearly as old as humankind itself, but the process of how a patch of ground becomes a mine is no different from the modern start-up.

It takes someone with vision, knowledge, capital, and especially social skills to navigate the hurdles and pitfalls in order to move their project forward and become a true mining entrepreneur.

This infographic sponsored by Cartier Resources takes a look at the journey of a mining entrepreneur, from inspiration to market success.

1. Inspiration: Seeing Value Where Others Do Not

This is where all great businesses start…a great idea! There are several ways to find inspiration in mining and mineral exploration, such as:

  • An old mine that was closed because of low prices
  • A geological trend that could continue onto a new property
  • A unique geochemical pattern that could hint at more below
  • An old property with a new geological insight

Real World Example: Uranium in Moose Pasture

Mine engineer and prospector Arthur Stollery had staked 83 claims in the Elliot Lake camp of Ontario. He sold his claims to Stephen Roman for $30,000 and 500,000 shares of Consolidated Denison, now known just as Denison Mines.

Those claims contained the largest uranium deposit in the world at that time and turned Stephen Roman and Denison into a major mining powerhouse.

2. Learning: Prospecting and Target Generation

At this stage, a mining entrepreneur needs to start building the case on how to test their idea. This starts with a theory about the location of new mineral deposits and will need to find a place to start exploring.

In order to start, the explorer first needs to find clues to support the theory. This is done through several techniques:

  1. Metal detection
  2. Prospecting with hand tools
  3. Electromagnetic prospecting
  4. Geochemical prospecting

All data collected through these processes is typically mapped and will help determine the location of where to drill.

Real World Example: Chile’s Copper Deposits

David Lowell, the world’s greatest mine finder, came up with a model to find low-grade copper porphyry deposits. He would go on to uncover some of the world’s largest copper mines such as the Escondida deposit in Chile.

3. Start-up: Proving the Value with Drilling

Drilling is one of the most important stages, and it can also be one of the most expensive. It is drilling that locates and defines economic mineralization. It is the ultimate test for all ideas, theories, and predictions.

There are three types of drilling:

  1. Auger drilling
  2. Rotary percussion drilling
  3. Diamond drilling

Drilling pulls up samples of the earth below and hopefully contains the valuable metals in enough quantities to make an economic deposit. However, it can be hit or miss and requires expert judgement as to whether there is further potential.

Real World Example: Falconbridge Nickel Mine

The original owner of the Falconbridge claims was the Thomas Edison of lightbulb fame, who gave up his hunt for nickel when his exploration drilling encountered quicksand. Thayer Lindsay bought claims, did further drilling and developed the company’s first nickel mine which helped build the city of Sudbury, Ontario.

4. Scale-up: Building Relationships

Now, if you have drill results that prove there is an economic ore body, you have to start building relationships to finance further studies.

  1. Engineering
  2. Cost estimates
  3. Operating costs
  4. Reserve calculations

Real World Example: Iron in the Far North

Jules Timmins purchased the mineral rights to the Ungava region in northern Quebec in 1941. He confirmed the size of an iron resource and a company. The iron ore was high quality and near the surface, allowing for low cost open pit mining but the infrastructure and financing challenges were large. Timmins raised the capital to build a 560-kilometer railroad, a shipping terminal, and the iron ore mine at a cost of nearly $300 million.

5. Champion: Going to the Market

If a mining entrepreneur has discovered something of value, it is time to go to market to sell or to raise money to build a mine. The entrepreneur has to champion the work in order to sell the property or develop the mineral property to bring his discovery to the next stage.

Real World Example: From Prospect to Asset in the Yukon

Shaun Ryan, a successful prospector and mining entrepreneur, began staking claims and then optioning the district to several explorers.

One of his claims became the Coffee deposit, developed by Kaminak Gold before Goldcorp bought it. Another claim, the White Gold property, went to Underworld Resources, which was bought in 2010 by Kinross for $139 million.

End of the Road or Beginning of the End?

If a mining entrepreneur has made it this far, he or she can count themselves lucky, as few make it this far.

But for those that do not, the mineral exploration process is a learning process and the knowledge acquired could be the next inspiration or opportunity for another mining entrepreneur.

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A Breakdown of Americans’ Monthly Credit Card Spending

Do you know where your money goes? From travel to gas, we break down Americans’ monthly credit card spending by category.



Credit Card Spending

Americans’ Monthly Credit Card Spending

If you were fortunate enough to keep your job during the pandemic, you probably noticed a financial benefit: you spent less. Amid restrictions, credit card spending on fun activities—like going out for dinner—became less frequent.

Looking ahead, the majority of Americans plan to continue at least one budget change post-pandemic, including eating out less (49%), buying fewer clothes and shoes (41%), and traveling less (37%). Of course, the first step in budgeting is tracking where your money is going.

In the above graphic from Personal Capital, we break down Americans’ monthly credit card spending by category. It’s the first in a three-part series that will explore the spending and saving of Americans.

Behind the Numbers

Credit card spending is based on anonymized data from Personal Capital users, who tend to have a higher-than-average net worth. For this particular subset of users, people had an average net worth of $1.3 million and a median net worth of $405,000. Therefore, the credit card spending amounts may be higher than those of the general U.S. population.

It’s also worth noting that the data reflects credit card spending only. It does not include expenses such as mortgage or rental payments, which are typically paid through other methods.

Credit Card Spending by Category

Here’s a breakdown of monthly credit card spending, based on averaged data from November 2020 to October 2021.

CategoryMonthly Spend% of Monthly Spend
General Merchandise$81516.7%
Home Improvement$51910.7%
Online Services$3316.8%

Users with no transactions in a particular category were excluded from the average spending amounts. Data is statistically weighted by age to ensure accurate and reliable representation of the total U.S. population, 20 years of age and older.

As border restrictions ease, Americans are spending the most on travel. In fact, 83% of Americans say they are excited to plan a trip in a post-pandemic world. The most popular merchant within travel is Airbnb, followed by airlines such as Delta and United as air travel recovers from its pandemic slump. However, this recovery could be in jeopardy amid fresh concerns over the Omicron variant.

Travel is closely followed by general merchandise, at places like Amazon, Costco, Walmart, and Target. Monthly spending in this category has averaged at $815 over the last year. Of course, this could climb even higher near year-end due to the holiday spending boom typically seen in the U.S. every year.

On the other hand, Americans spend the least on online services (such as Google and Facebook), entertainment, and gas. Though the average monthly spending on gas was the lowest of all categories, it increased by 60% from November 2020 to October 2021. This is likely due to gas being one of the categories hit hardest by inflation, along with increased travel.

Turning Reduced Spending Into Savings

With the swipe of a credit card, it can be easy to underestimate how quickly eating out and online shopping add up. However, by taking a closer look at your credit card spending, you can get a sense of where your money is going.

Like most Americans, you may also decide to carry over at least one budget change post-pandemic. What do Americans want to do with the extra cash? Over half plan to put it towards savings, and 16% aim to contribute more to retirement savings or investments.

In Part 2 of the Americans’ Spending and Saving series, we’ll break down Americans’ financial assets by age.

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Copper’s Essential Role in Protecting Public Health

Copper can kill up to 99.9% of bacteria on surfaces within two hours of exposure and slow the spread of diseases.



Copper’s Essential Role in Protecting Public Health

Every day, high-touch surfaces present health risks to people in public spaces, and especially the most vulnerable in healthcare. In fact, of every 100 hospitalized patients at any given time, seven will get at least one healthcare-acquired or “hospital infection”.

With naturally antimicrobial properties, copper can kill up to 99.9% of bacteria on surfaces within two hours of exposure and slow the spread of diseases.

In this infographic from our sponsor Teck, we explore copper’s bacteria-fighting abilities and its crucial role in public health.

How Copper Kills Bacteria

Due to its powerful antimicrobial properties, copper kills bacteria in sequential steps:

  • First, copper ions on the surface are recognized by the bacteria as an essential nutrient and enter cell.
  • Then, a lethal dose of copper ions interferes with normal cell functions.
  • Finally, the copper binds to the enzymes, impeding the cell from breathing, eating, digesting, or creating energy.

This rapid killing mechanism prevents cells from replicating on copper surfaces and significantly reduces the amount of bacteria living on the surface.

Antimicrobial copper is effective against bacteria that causes common diseases like staph infections and E. coli that causes foodborne illness. The metal continuously kills bacteria and never wears out.

Besides bacteria, researchers are currently studying copper’s impacts on the virus that causes COVID-19. A previous study suggested that SARS-CoV-2 was completely destroyed within four hours on copper surfaces, as compared to 24 hours on cardboard, and up to three days on plastic and stainless steel. Pre-pandemic studies also demonstrated copper’s ability to kill other coronaviruses.

The Applications of Antimicrobial Copper

Institutions around the world have already deployed antimicrobial copper solutions relating to hospitals, fitness centers, mass transit systems, schools, professional sports teams, office buildings, restaurants, and more.

To date, antimicrobial copper has been installed in more than 300 healthcare facilities around the world. Taking the reduced costs of shorter patient stay and treatment into consideration, the payback time for installing copper fittings is only two months, according to an independent study by the University of York’s Health Economics Consortium.

In Canada, Teck has worked with its partners to install antimicrobial copper coatings on high-touch surfaces in hospitals, educational buildings and transit.

The Stanley Cup champions Los Angeles Kings have installed antimicrobial copper surfaces in their strength and training facility in California. Furthermore, over 50 water bottle filling stations made from antimicrobial copper can also be found throughout the Hartsfield-Jackson International Airport in Atlanta.

Copper’s Role in Public Health

While many hospitals and other institutions are already using copper fittings, others are still not aware of its impactful properties.

As awareness increases, copper can become a simple but effective material to help control the spread of infections.

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