The junior resource world runs on “news”. The most valuable news a company can bring to the market is drill results. Ideally, drill results which disclose good grades over broad intervals. The problem most juniors face is that drilling is expensive: hundreds of dollars a meter. And it is time-consuming as the core has to be split and sent to the lab for analysis.
When you have been in the junior resource company business – as a broker or an investor relations professional – you see a lot of companies which are flawed. Too many shares out, management lining its own pockets, projects which have no real chance. Derek Wood, having worked in various aspects within the Canadian Capital Markets since the early 90s, had seen it all and he decided that he would put together a company and do it right.
For the longest time, Cartier Resources (V.ECR) has been reporting high-grade gold from its Chimo Mine project. A couple of meters of +10 grams per ton (gpt) here and 16 gpt there. But it has never been the headline number for the Cartier press releases.