Treasury Metals Inc. (TSX:TML) recently welcomed Paris-based Christophe Vereecke, a successful businessman and entrepreneur, to its Board of Directors. In our interview today, Christophe shares his thoughts on which direction the gold price may be headed in 2016, and what’s ahead for TML as it advances its Goliath gold project towards production.
Meet the CEO and get more information on Treasury Metals on the Company’s Investor Page HERE
Angela Harmantas (AH): For the benefit of North American readers who may not be familiar with you, can you give us a brief introduction to yourself and your career background?
Christophe Vereecke (CV): At the beginning of my career I actually studied law and international business, and then went to the U.S. to study gemology. It’s fair to say that I have a number of different interests! When I was working as a trader and fund manager in the early 1990s I developed a strong interest in commodities, which stemmed from my family’s ownership of royalties from a sand deposit. I try and link my interest back to the oil-trading business, but I wanted to come back to the production side. Right now I am managing a portfolio of different assets in the commodity industry. At the same time, I act as an advisor to high-net-worth clients.
AH: How did you become acquainted with Treasury Metals? What prompted you to join the Board of Directors?
CV: I heard about Treasury Metals in 2009 through Olivier Crottaz, a portfolio manager in Switzerland. At first,I invested a little bit of money and followed Treasury’s stock for many years. A few months ago, as the Goliath gold project moved towards a feasibility study, I felt it was time to make a larger investment. Goliath is the perfect risk versus reward play with great potential –the infrastructure is already in place near the property, and I think there is an opportunity to grow the number of ounces there exponentially. As a large part of the shareholders are from Europe, they asked me to represent them on the Board.
AH: Is there anything about the Goliath project that particularly stands out to you?
CV: Every great mining project has two things in place: a good deposit and a competent management team. When I met Treasury’s Chairman Marc Henderson I was very impressed with his experience. He’s been in the business for over 30 years and has built mines before, so he’d like to see Goliath through to production. Also, the fact that Goliath is located in a mining-friendly country like Canada is important to me as a European – if you want to open a mine in France, for example, it’s nearly impossible. I also see potential to increase Goliath’s mine life longer than the 10 years that’s quoted in the PEA. There’s only been a small amount of drilling along the east side of the property, and it’s looking very promising.
AH: Why did you decide to invest in a gold project at a time of depressed gold prices?
CV: The current depressed industry cannot last forever and I would not be surprised if it turns back on the upside before the end of the first quarter 2016. When we see a bullish market, we will get more leverage on miners rather than royalties. This is the perfect time to take a little bit more risk – royalties are not at all risky, they’re cash machines. As far as the gold price is concerned, I don’t know if there is much more room for the gold price to drop. From what I can see the financial markets will crash soon and gold and silver prices will increase substantially. I own a few gold mining stocks in the royalty segment but I think this is the perfect time to take more risk and get out from the royalties stocks to get heavily involved in a junior company.
AH: What skills or perspectives do you bring to Treasury’s Board of Directors?
CV: I want Treasury Metals to enter production rather than being bought by the first major to knock on our door. Goliath could be a cash machine (even at current gold prices) in a safe jurisdiction with a lot more to come. I also have a clear view on the gold markets, and it’s important for the Treasury team to have an accurate idea of where gold is trending as they make decisions that impact Goliath.
AH: What’s on the agenda for Treasury Metals in 2016? What milestones is the Company hoping to achieve at Goliath?
CV: We have a busy agenda in 2016. Our main goal for Treasury Metals is to complete the feasibility study and get the permits as soon as possible. I’m hoping to get the older European investment funds that specialize in the commodity industry interested in Treasury’s story.Once the markets turn around, more Europeans will look at gold stocksand I’m looking forward to representing Treasury Metals in France and the rest of Europe.
Disclosure: Treasury Metals Inc. is a client company of SmallCapPower/Ubika Research and has paid a fee for coverage. For more information please visit the Company’s Investor Hub here >>