As the name reflects, GoldON is a company focused on the exploration for gold and associated minerals in Ontario, Canada.
A province with a rich history of gold exploration and mining that dates back to the 1860s, Ontario is Canada’s leading gold-mining jurisdiction and has produced in excess of 200 million ounces of the yellow metal over the last 150 years.
Mining is a key contributor to the Ontario economy with some 39 mines currently operating in the province, of which 17 are gold mines. Last year over 250,000 people were employed in Ontario’s mineral industry cluster, which includes: operating mines, exploration and development services & supplies, finance & accounting, engineering, environmental consulting, corporate offices, etc. Noteably, the average weekly wage in Ontario mining is 60% higher than the average industrial wage in the province.
Ontario is also one of the safest mining jurisdictions in the world and mining is one of the safest industries in Ontario, achieving a 96% improvement in lost time injury frequency over the past 30 years.
Leading all jurisdictions in Canada with a mineral production value of $10.6 billion in 2016, Ontario is Canada’s largest producer of gold (47%*), nickel (43%*), silver (36%* ) and platinum group metals (80%*).
Ontario also leads Canada in mineral exploration and deposit appraisal spending with $371 million invested in the province in 2016. Gold remained the most sought-after mineral with $264 million invested.
Equally important to GoldON's success is its ability to access investment capital when required, and Toronto, Ontario is arguably the global gateway to mineral resource financing.
The Toronto Stock Exchange (TSX) and the Toronto Venture Exchange (TSXV) are home to ~50% of the world's publicly traded mining and exploration companies and they make up 38.5% of the 3,130 listings as of December 31, 2016. That's more than any other stock exchange in the world and 50% of the 6,351 mineral exploration projects held by TSX and TSXV listed companies are outside Canada. TSX and TSXV listed mining and exploration companies raised $ 9.4 billion through 1,540 transactions in 2016. That represents 51% of the number of public mining and exploration financings completed globally.**