Commerce students invited to go for gold
Teams of undergraduate Commerce students from universities around the world are being invited to compete in the Goodman Gold Challenge, an investment management competition in Sudbury sponsored by Laurentian University’s Goodman School of Mines.
Up to 14 teams of four will quiz the CEOs of three gold mining companies listed on the TSX or TSX Venture exchanges and select one company they would recommend as having the best investment potential. Each member of the winning team will take home the equivalent of four ounces of gold in shares of the company they recommend. Members of the winning team will also be guaranteed an interview for a summer internship with an investment company.
Two of the three gold mining companies have already signed up for the competition. “One is a large gold producer, another is a lower to modest scale producer, and we’re looking for a third company, which could be an existing producer or an exploration company,” said Bruce Jago, founding executive director of the Goodman School of Mines.
The identities of the three companies will only be revealed six weeks prior to the competition, at which point teams will be able to begin poring over publicly available data and seeking advice from investment professionals.
“Depending on what’s in the company’s portfolio, their financial statements, production stats, cost per ounce, all-in cost per ounce, the students will decide which company to select,” said Jago.
Laurentian University Commerce students have taken part in a similar competition hosted by the University of Saskatchewan’s Edwards School of Business three years in a row, but had reservations about its use of artificial companies, case studies and commodities.
“Jonathan Goodman from the Goodman family, our benefactor, proposed an investment-type competition with real companies quizzing CEOs,” said Jago. “It went ahead from there.”
An $800 registration fee per team will cover accommodation and most meals during the competition, but team members will be responsible for their own travel to and from Sudbury.
The competition opens on Thursday, February 23 with mine tours, opening ceremonies and social gatherings, noted Challenge organizer Eric Lavergne Giroux, a Laurentian University Commerce grad. Friday morning will begin with a 20-minute presentation by the three CEOs. Following the presentations, each team will have an opportunity to meet with them privately for approximately 10 minutes. In the afternoon, each team will have a 30-minute one-on-one session with an industry expert, and spend the evening working on their analysis and PowerPoint presentation, which they will have to submit by midnight.
The following day, Saturday, February 25th, the teams will defend their choice to a panel of eight judges with a 25-minute presentation and a 10-minute Q&A. A second round of presentations and Q&As that afternoon for the three or four finalists will be open to the public, followed by an Awards Gala and dinner that evening.
Teams interested in registering for the Goodman Gold Challenge can go to: www.goodmangoldchallenge.com
To learn more about the Goodman Gold Challenge and sponsorship opportunities ranging from $100 to $15,000, email [email protected]
Tagged Bruce Jago, Eric Lavergne Giroux, existing producer, Financial & Commodity Market Operators, gold mining, Jonathan Goodman, large gold producer, Laurentian University, Mining, University of Saskatchewans Edwards School