Coffee with Samso Episode 198 brings a new perspective to the Coffee with Samso conversations. In this first episode of our Insights segment, we delve into the thoughts of Allan Kelly, Executive Chair of Miramar Resources Limited (ASX: M2R).
The life of an executive in the small mineral exploration is busy and stressful. Those that are out there trying to make an economic discovery are constantly under the spotlight.
In my five years of establishing the Coffee with Samso series, Allan Kelly strikes me as a true mineral explorationist. To those that have followed the Samso journey and have watched Allan share his projects in Miramar Resources Limited, you will know that he speaks with great sincerity.
Our conversations on the Samso platform (see below for previous conversations) are always long form and it has offered a great insight into the reasons why Allan is so passionate about the potential discovery. When you watch and listen to Allan talking about the projects, there is no doubt that his enthusiastic nature wants viewers to know what he is doing and why he is spending money on the project.
Allan Kelly's Insights
In this first episode of Coffee with Samso - Insights, we learn about Allan Kelly, the person. In an industry that takes no prisoners, it is hard for investors to know who is actually really trying to make a discovery. It is difficult to know if the person who is telling you the story is actually telling the truth and the real facts.
I have been an investor in this industry since my university days in 1987 and have been a willing participant in the mineral industry since 1992. Like everyone who is working in the mineral exploration industry, we are all trying to make that economic discovery. The rate of success is not very high and as Allan mentioned in the first minute of the introduction to this episode, that rate of success is very low.
So what makes us continue to work in mineral exploration? Why are the likes of myself and Allan Kelly continuing to be in the limelight and the brunt of all criticism? The questions that are being asked is why the Coffee with Samso Insights is beginning its journey.
Get yourself a coffee or your favourite beverage and watch or listen and get a better understanding of Allan Kelly here:
Chapters:
00:00: Introduction
05:13 How did Allan Kelly get into this industry?
09:04 Western Mining Interview
11:40 Work with Western Mining
13:18 Is the Development of Geological Skills still a common trait?
13:44 Western Mining was unique for the time.
15:27 What traits do you need to stay in the mineral exploration industry?
17:05 The Keys to be a Mineral Explorationist.
17:35 Don't be afraid to say you don't know something.
18:22 What is the core asset required to do well in the industry?
19:03 Need to have Endurance, the "Non-Technical Asset" - "Non-Geological Assets"
21:18 The Andy Well Story
23:29 The many reasons why a project may not be discovered.
24:30 How do you decide and manage which projects to leave behind?
29:56 The lack of Mineral Exploration and Mineral Discovery.
32:24 Does criticism ever affect you?
34:26 The Gidgee Project and The Paleochannel Problem.
35:11 Is it frustrating to be misunderstood about the Gidgee Project?
37:30 How do investors understand exploration results?
41:23 How to understand lack of mineralisation strike length.
42:31 What are Allan's thoughts on the Mineral Exploration sector?
43:49 Lack of patience from brokers.
45:03 Reasons why Allan is optimistic with Nickel and the Bangemall project.
50:57 Allan's last words.
51:26 Conclusions
Previous Conversations with Allan Kelly
Miramar Resources Limited (ASX: M2R) - Mineral Exploration Success - Discovery at Marylebone.
Miramar Resources Limited (ASX: M2R) Discovery at Gidji, Bangemall and Whaleshark
Miramar Resources Limited (ASX: M2R) Discovery at Gidji, Glandore and Whaleshark.
Miramar Resources Limited (ASX: M2R) - Surprises in the Bangemall: Carbonatites and IOCG
PODCAST
About Allan Kelly
Executive Chair of Miramar Resources Limited
Mr Kelly is a geologist and manager with over 30 years’ experience in mineral exploration, development and production throughout Australia and the Americas.
Mr Kelly graduated in 1994 with a Bachelor of Science (with honours) in Applied Geology from Curtin University. He has been involved in targeting early stage exploration of gold, nickel and copper deposits in Australia, Alaska and Canada and has previously held senior exploration positions within Western Mining Corporation and Avoca Resources Limited. He has also served as an Executive Director of Riversgold Ltd and a non-executive director of Alloy Resources Ltd.
In 2009, Mr Kelly founded Doray Minerals Limited, which listed on the ASX in early 2010. Under Mr Kelly’s management, Doray discovered the high-grade Wilber Lode gold deposit within the Andy Well Project in the Murchison Region of Western Australia, which moved from discovery to production within three and a half years, and subsequently funded, constructed and commissioned the Deflector Gold-Copper Project within 14 months of completing the takeover of Mutiny Gold Limited in 2014.
In 2014, Mr Kelly was awarded the Association of Mining and Exploration Companies (AMEC) ‘Prospector Award’, along with Doray’s co-founder Mr Heath Hellewell, for the discovery of the Wilber Lode and Andy Well gold deposits.
Mr Kelly is a Fellow and Former Councillor of the Association of Applied Geochemistry (AAG), a Member of the Australian Institute of Geoscientists (AIG) and a Member of the of the Institute of Brewing and Distilling (IBD).
Disclaimer
The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer.
Share to Grow: Your Bonus
Samso has just released an eBook: How to Add Value to your Share Portfolio
A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook.
If you find this article informative and useful, please help me share the information. I try and write about topics that are interesting and have the potential to be of investment value. It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au.
Comments