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U of T team snags top marks at 2018 gold challenge

Team recommended Wesdome Gold Mines for investment

The Lassonde Mineral Engineering team from the University of Toronto was declared the winning entry at the 2018 Goodman Gold Challenge on Jan. 28.

The team beat out rival squads from Ryerson University and Queen’s University to take home the win, successfully pitching Wesdome Gold Mines as the best investment case during the event.

Wesdome’s flagship project is the Eagle River Complex, located 50 kilometres west of Wawa, which consists of two operating gold mines, and a facility that processes 1,200 tonnes per day.

The second annual Goodman Gold Challenge took place Jan. 26-28, at Laurentian University in Sudbury.

Hosted by the university’s Goodman School of Mines, the contest challenges undergraduate students to evaluate the investment potential of three gold companies that are currently trading on the TSX or TSX-V and recommend the company with the best investment potential.

This year, the three companies up for debate were Wesdome, Nighthawk Gold Corp. and Sabina Gold & Silver Corp.

The idea behind the contest is to give students real-life experience in applying their academic credentials to help solve real-world problems faced by investors.

It was the brainchild of Jonathan Goodman, CEO of Metaform Investment, a mining investment company, and executive-in-residence with Laurentian's faculty of management.

In 2013, Goodman's father, Dundee Corporation CEO Ned Goodman, contributed to an endowment fund to support mining-related programs at Laurentian and became the namesake for the university's Goodman School of Mines.

Winners of the challenge earn the cash equivalent of four ounces of gold.