DIGGING DEEPER: THE EVOLUTION OF ROYALTIES AND THE FUTURE OF MINING w. DAVID AWRAM EP. 151
Have you taken a serious look at how royalties can be an effective vehicle to finance mining projects? If you'd like to learn how a successful gold royalty company is built and how it can support the mining industry, investors and management teams, this episode is for you!
Sandstorm Gold Royalties holds a portfolio of 250 royalties on mines worldwide. David Awram, Geologist and Senior Executive Vice President, is at the helm of their leadership.
During this episode, he shares his experience of learning essential aspects of the industry from inspiring leaders, and his efforts to popularize the use of royalties as a financing mechanism.
“You have to approach this industry with a lot of humility because every project you invest in, something is going to go wrong that you just had no idea could go wrong.” — David Awram [0:43:16]”
Shortly after announcing public funding at Sandstorm, the gold price plummeted, and David gives listeners a look at how the company managed through this challenge.
“Talk to people in the industry. Talk to people on the finance side. Keep good relationships with them. It really will serve you if you find the right people. You’ll navigate a way to success in this tough, tough industry.” — David Awram [01:02:09]
We explore business development at Sandstorm and hear how David’s approach differs from other names in the industry. We discuss the need for speculative capital, inspiration from David Law’s work, and much more before David offers some hard-earned advice for those looking to enter the investment industry, and CEOs aiming to improve their impact.
There is so much to learn from this episode, you don't want to miss tuning in!
KEY POINTS FROM THIS EPISODE:
Meet David Awram, geologist and Senior Executive Vice President at Sandstorm Gold Ltd.
Learning the industry from Nolan Watson and Ian Telfer at Silver Wheaton.
Utilizing royalties as a financing mechanism.
Challenges that arose after announcing public funding including the plummeting of the gold price.
Experiences of flying in a Dakota aircraft.
What David learned from Ian Telfer and what he taught both investors and employees.
The team behind growing Sandstorm with business development in mind.
How he is thinking differently from other geologists about risk in the mining industry.
Why it is necessary to approach this industry with humility.
The importance of reflecting on past mistakes.
Watching David Law work with his skill in early-stage discovery.
The need for speculative capital and why this has not been a focus until now.
Why he recommends that everyone in the investment industry reads The Outsiders.
Advice for people entering the investment industry.
Advice for CEOs and investors: be patient!
LINKS MENTIONED IN TODAY'S EPISODE:
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Please note that the information contained in this interview is not financial advice but for entertainment purposes. I am not a financial advisor and make no warranties or representations concerning the accuracy or suitability of the information contained in this interview. I recommend that any and all investment decisions be made with the advice of registered investment advisors.