32 www. bus- ex. com JANUARY 10 Detour Gold is developing what is believed reserve in Canada. Keith Regan learns make it an excellent candidate for relatively why 2010 is a great time to be constructing Right perfect resource,
Detour Gold Corporation JANUARY 10 www. bus- ex. com 33 believed to be the largest confirmed gold learns how its location and other factors relatively inexpensive development and constructing the mine perfect resource, timeD etour Gold president and chief executive officer Gerald Panneton has been a geologist in the mining industry for more than two decades, much of that time spent working with major precious metal companies such as Barrick Gold in Canada, but with experience in finding and developing mines as far afield as China and Tanzania also under his belt. So when he had the opportunity to pursue the exploration and development of a gold asset at Detour Lake, Panneton was instantly intrigued. After two hectic months of due diligence, Panneton and his team signed a purchase agreement with Pelangio Mines Inc. in August 2006 to acquire a 100 percent interest in the Detour Lake. Within six months Detour Gold Corporation was staging an initial public offering that raised C$ 35 million. Today, nearly three years later, the company has a market capitalization of C$ 1.2 billion.