BUILDING A SUCCESSFUL COMPANY IN A BAD MARKET W. DOUGLAS HURST – EP. 77
In today’s episode, you’ll hear from Douglas Hurst. He is a person that knows all about building successful companies in bad markets. Doug is now Chairman of Northern Vertex Mining Corp. He is also a lifelong miner who started his career as an exploration geologist. He eventually transitioned into working as a mining analyst, before becoming a notable mining entrepreneur and executive. There’s no doubt that he truly enjoys the work he does and the career he has led.
He is reluctant to say it, but he has created incredible value by developing and selling assets that would otherwise have stayed out of the limelight. As an example, he and a partner co-founded International Royalty Corp., which they later sold for over $700 million. This was followed by a leadership position in Newmarket Gold, where the acquisition of some gold assets was later sold to Kirkland Lake for over $1 billion. As the chairman of Northern Vertex, Doug shares his experience and how it applies to the team and project he is working on now. He also talks about how they are following a similar playbook to past successes, and the wild bull markets and devastating market crashes he has experienced in his 30-year career. Doug details this whole experience and how he has stuck with the industry through all its ups and downs.
Tune in today to find out more!
KEY POINTS FROM THIS EPISODE:
Doug starts by sharing a bit about his background and his career trajectory.
Hear about the stock market crash he experienced only six months into his career in 1987.
What he learned from being a mining analyst, such as the value of a good pitch.
He reflects on collating Major Drilling’s financial data and what a useful tool it became.
Doug compares the Black Monday crash of 1987 to the economic situation during COVID-19.
Building a successful company despite the market; Doug talks about co-finding International Royalty Corp. with Doug Silver.
Capitalizing on a forgotten-about market opportunity; it wasn’t necessarily a creative plan!
Find out how they went on to sell International Royalty Corp. for over $700 million.
The characteristics of those who are successful in the mining market, like being a good communicator and quick to pivot.
Why Doug believes it’s emotional intelligence that predicts success in the mining sphere.
He shares the strategy behind the merger between Northern Vertex and Eclipse Gold.
Find out why the axiom “go big or go home” is exactly right, according to Doug.
Raising money when times are terrible; the power of doing deals in a bad market.
Doug explains that it’s all about finding assets that are flying under the radar.
Learn more about the cost of capital: if your investors don’t make money, then any subsequent capital you raise gets more expensive.
How Doug has used social media and digital marketing to build rapport with investors.
His final words of wisdom for entrepreneurs or execs in the mining space: have enough capital to have infinite patience.