Sector Expert: Joe Mazumdar

Exploration Insights

Image: Joe Mazumdar

Joe Mazumdar is a economic geologist/analyst at Exploration Insights. Prior to that he was a senior mining analyst at Haywood Securities, then Canaccord Genuity. His experience includes director of strategic planning, corporate development at Newmont and senior market analyst/trader at Phelps Dodge. Mazumdar also worked in technical roles for IAMGOLD in Ecuador, North Minerals in Argentina/Chile and Peru, RTZ Mining and Exploration in Argentina and MIM Exploration and Mining in Queensland, Australia, among others. Mazumdar has a Bachelor of Science in geology from the University of Alberta, a Master of Science in geology and mining from James Cook University and a Master of Science in mineral economics from the Colorado School of Mines.

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Companies Commented On

  • Amara Mining Plc
  • Asanko Gold Inc.
  • Avnel Gold Mining Ltd.
  • Caledonia Mining Corp.
  • Claude Resources Inc.
  • Dalradian Resources Inc.
  • Doray Minerals Ltd.
  • Gold Resource Corp.
  • Gold Standard Ventures Corp.
  • Kaminak Gold Corp.
  • Lake Shore Gold Corp.
  • Mandalay Resources Corp.
  • Metals X Ltd.
  • Northern Star Resources Ltd.
  • Oban Mining Corp.
  • OceanaGold Corp.
  • Pretium Resources Inc.
  • Romarco Minerals Inc.
  • Roxgold Inc.
  • Rubicon Minerals Corp.
  • Sabina Gold & Silver Corp.
  • Saracen Mineral Holdings Ltd.
  • SEMAFO Inc.
  • Silver Standard Resources Inc.
  • St. Barbara Ltd.
  • Stillwater Mining Co.
  • Torex Gold Resources Inc.


Recent Interviews

How to Spot Buyout Clues in Today's Resource Market (11/2/15)
Mining M&A

What if you could tell before a press release comes out that a company is poised to be bought out, possibly at a nice premium? Sounds good, right? By watching historic patterns, that might just be possible. The Gold Report reached out to experts who have been around through enough cycles to know and asked for the clues they watch that an acquisition might be imminent. From location and early investment to derisking levels, you just have to know what to look for to position yourself for a liquidity event.

Survival Secrets from Colorado Resource Investing Front Lines (10/1/15)
Survival

Top experts and select companies traveled to Colorado last week for a pair of conferences focused on the survivors in the natural resource mining sector. The Gold Report reached out to some of the discerning voices there and asked whether the barrage of headlines from the Federal Reserve and China impacted the mood, and what companies they would be following up on when they returned to their offices. While the Precious Metals Summit was geared toward development-stage companies and the Denver Gold Forum was mostly populated by large, producing mining companies, everyone seemed fixated on survival. For those of us watching from home, experts we talked to were kind enough to name some of the standout companies they saw in boothland.

Canaccord Genuity's Joe Mazumdar Tells Gold Investors to Go Underground to Survive (8/6/15)
Gold VIX Chart

Unlike many analysts, Joe Mazumdar of Canaccord Genuity does not expect a substantially higher gold price any time soon. So what are hard-pressed gold investors to do? In this interview with The Gold Report, Mazumdar argues that they should seek high-grade resourcesŚusually undergroundŚin stable jurisdictions that benefit from the strong American dollar. And he highlights seven near-term developers that offer exactly that.

Recent Quotes

"AKG is well funded to achieve commercial production in Q2/16E."

— Joe Mazumdar, Canaccord Genuity (11/16/15)
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"We continue to forecast for AKG a cushion of $40ľ45M during ramp-up."

— Joe Mazumdar, Canaccord Genuity (11/9/15)
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"PVG reported Q3/15 financials in line with our expectations."

— Joe Mazumdar, Canaccord Genuity (11/6/15)
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"We maintain our Speculative Buy recommendation on PVG."

— Joe Mazumdar, Canaccord Genuity (11/4/15)
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"We are upgrading PVG to Speculative Buy."

— Joe Mazumdar, Canaccord Genuity (10/22/15)
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"PVG reported high-grade drill results at its Brucejack gold project."

— Joe Mazumdar, Canaccord Genuity (10/8/15)
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"We are encouraged by PVG's consistent high-grade intervals at Brucejack."

— Joe Mazumdar, Canaccord Genuity (9/30/15)
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"AKG's phase 1 Obotan project of the Asanko gold mine is 75% complete."

— Joe Mazumdar, Canaccord Genuity (9/22/15)
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"PVG's $540M financing has led to a positive construction decision."

— Joe Mazumdar, Canaccord Genuity (9/17/15)
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"PVG's new financing is a strong positive for the Brucejack gold project."

— Joe Mazumdar, Canaccord Genuity (9/16/15)
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"We continue to model PVG as a potential takeover candidate."

— Joe Mazumdar, Canaccord Genuity (9/1/15)
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"We have upgraded our recommendation on AKG to Speculative Buy."

— Joe Mazumdar, Canaccord Genuity (8/26/15)
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"We are raising our target price for PVG."

— Joe Mazumdar, Canaccord Genuity (8/23/15)
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"PVG's cash allows it to begin construction in late August 2015."

— Joe Mazumdar, Canaccord Genuity (8/9/15)
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"AKG is advancing the first phase of the Asanko gold mine in Ghana."

The Gold Report Interview with Joe Mazumdar (8/6/15)
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"PVG is on the Canaccord Genuity Focus List as it represents a high-grade gold development play in a stable jurisdiction."

The Gold Report Interview with Joe Mazumdar (8/6/15)
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"PVG received the federal permit for its high-grade Brucejack gold project."

— Joe Mazumdar, Canaccord Genuity (7/31/15)
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"We upgrade our recommendation on AKG to Speculative Buy from Hold."

— Joe Mazumdar, Canaccord Genuity (7/22/15)
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"The infill program at PVG's Brucejack project should upgrade resources."

— Joe Mazumdar, Canaccord Genuity (7/16/15)
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"We expect AKG to achieve positive free cash flow by Q2/16."

— Joe Mazumdar, Canaccord Genuity (7/14/15)
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"Year-to-date, AKG has outperformed the benchmark GDXJ, 26% versus 4.6%."

— Joe Mazumdar, Canaccord Genuity (6/24/15)
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"PVG's progress on the Brucejack gold project is positive."

— Joe Mazumdar, Canaccord Genuity (6/10/15)
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"PVG has reported exceptionally high-grade results from the Valley of Kings deposit."

— Joe Mazumdar, Canaccord Genuity (6/4/15)
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"Securing stable power for Obotan's phase 1 is a positive for AKG."

— Joe Mazumdar, Canaccord Genuity (6/3/15)
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"AKG's Obotan remains well funded to deliver its first pour in Q1/16E."

— Joe Mazumdar, Canaccord Genuity (5/26/15)
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"We now expect commercial production at PVG's Brucejack project by Q4/17."

— Joe Mazumdar, Canaccord Genuity (5/10/15)
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"We maintain our Speculative Buy rating on AKG."

— Joe Mazumdar, Canaccord Genuity (4/14/15)
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"PVG got its environmental certificate ahead of our forecast."

— Joe Mazumdar, Canaccord Genuity (3/30/15)
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"AKG is well funded ($334M) to deliver steady state production."

— Joe Mazumdar, Canaccord Genuity (3/25/15)
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"We are initiating coverage on PVG with a Speculative Buy rating."

— Joe Mazumdar, Canaccord Genuity (2/23/15)
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"AKG announced a CA$40M bought deal equity financing."

— Joe Mazumdar, Canaccord Genuity (1/21/15)
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"We raised our target price for AKG."

— Joe Mazumdar, Canaccord Genuity (1/13/15)
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"A resource update is expected in late Q1/15 for PG's Hardrock."

— Joe Mazumdar, Canaccord Genuity (1/12/15)
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"AKG is a well-funded, liquid, near-term development play."

— Joe Mazumdar, Canaccord Genuity (12/10/14)
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"We maintain our Speculative Buy recommendation for AKG."

— Joe Mazumdar, Canaccord Genuity (11/30/14)
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"Companies like AKG are in good shape to advance and develop their respective projects."

The Gold Report Gold Conference Roundup with Joe Mazumdar (10/1/14)
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"In terms of derisking, there is a lot of data there for CMM."

The Gold Report Interview with Joe Mazumdar (10/1/14)
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"TEN has royalties on the northern part of the Spring Valley project, where the majority of the current resource lies."

The Gold Report Interview with Joe Mazumdar (10/1/14)
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"Companies that are fully funded to production such as AKG are less susceptible to changes in their equity prices in the near term."

The Gold Report Interview with Joe Mazumdar (10/1/14)
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"AKG's Asanko gold mine now hosts 3.54 Moz grading 2.22 g/t Au."

— Joe Mazumdar, Canaccord Genuity (9/11/14)
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"We are raising our target price on AKG."

— Joe Mazumdar, Canaccord Genuity (8/26/14)
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"We maintain our Speculative Buy rating for AKG as we await its many near-term catalysts."

— Joe Mazumdar, Canaccord Genuity (8/24/14)
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"CMM is fully financed to begin production at its 6.4 Mtpa Castle Mountain gold project."

— Joe Mazumdar, Canaccord Genuity (8/22/14)
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"Metallurgical test results for AKG's Dynamite Hill came in higher than our forecasts."

— Joe Mazumdar, Canaccord Genuity (7/29/14)
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"AKG's mine generates a 24% IRR at our long-term gold price curve."

— Joe Mazumdar, Canaccord Genuity (7/17/14)
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"AKG executed amended agreements for the $150M project debt facility."

— Joe Mazumdar, Canaccord Genuity (7/14/14)
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"CMM's new financing should generate further derisking."

— Joe Mazumdar, Canaccord Genuity (7/1/14)
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"Dynamite Hill is a good potential phase 1 ore source for AKG's Asanko gold mine."

— Joe Mazumdar, Canaccord Genuity (6/19/14)
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"FCU's PLS could reach >50 Mlb U3O8, justifying a standalone plant."

— Joe Mazumdar, Canaccord Genuity (6/16/14)
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"CYD's El Barque˝o is relatively shallow and very amenable to open-pit mining."

The Gold Report Interview with Joe Mazumdar (6/9/14)
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"We maintain our Speculative Buy rating for CMM."

— Joe Mazumdar, Canaccord Genuity (6/2/14)
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"FCU assays lifted (+1.5 Mlb) our PLS resource estimate to +51 Mlb."

— Joe Mazumdar, Canaccord Genuity (5/29/14)
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"FCU reported more assay results that led us to increase our overall resource estimate for Patterson Lake up to 50 Mlb U3O8."

— Joe Mazumdar, Exploration Insights (5/14/14)
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"Highlights from ROG's Bagassi South include 226.76 g/t Au over 3.1m."

— Joe Mazumdar, Canaccord Genuity (5/6/14)
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"We have raised our price target for CMM."

— Joe Mazumdar, Canaccord Genuity (4/28/14)
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"We expect ROG to begin breaking ground on the high-grade Yaramoko project in Q4/14."

— Joe Mazumdar, Canaccord Genuity (4/28/14)
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"We consider FCU a potential takeover candidate."

— Joe Mazumdar, Canaccord Genuity (4/28/14)
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"ROG's feasibility study on Yaramoko shows an IRR of just under 50%."

— Joe Mazumdar, Canaccord Genuity (4/23/14)
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"FCU's winter 2014 program has been successful in multiple areas."

— Joe Mazumdar, Canaccord Genuity (4/14/14)
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"Applying our gold price curve, ROG's Yaramoko project generates paybacks of less than a year."

Smallcappower.com Interview with Joe Mazumdar (4/9/14)
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"We anticipate lots of news flow from CYD's drilling this year."

— Joe Mazumdar, Canaccord Genuity (4/8/14)
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"FCU's drill program at PLS extended the strike length of the PL3B."

— Joe Mazumdar, Canaccord Genuity (3/31/14)
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"ROG closed its bought deal financing for gross proceeds of CA$28.8M."

— Joe Mazumdar, Canaccord Genuity (3/25/14)
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"FCU is close to attaining a critical volume to support a standalone processing facility."

— Joe Mazumdar, Canaccord Genuity (3/24/14)
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"We are initiating coverage of ROG with a Speculative Buy rating."

— Joe Mazumdar, Canaccord Genuity (3/17/14)
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"FCU's PLS is one of the most attractive uranium projects in the hands of a junior."

— Joe Mazumdar, Canaccord Genuity (3/17/14)
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"We have a resource estimate of 8 Mlb at FCU's R585E zone, and drilling success encourages us that it could grow further."

— Joe Mazumdar, Canaccord Genuity (3/10/14)
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"We have raised our target price for PG; there continues to be upside to the story."

— Joe Mazumdar, Canaccord Genuity (2/26/14)
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"We have added 8 Mlb to our FCU U3O8 resource estimate, now 43 Mlb."

— Joe Mazumdar, Canaccord Genuity (2/19/14)
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"At FCU's PLS project, intersections extended known mineralization."

— Joe Mazumdar, Canaccord Genuity (2/11/14)
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