Marc Davis of BNWNews profiles Amarillo Gold, a company that is finally poised to capitalize on a resurgent gold market.
It’s Buddy Doyle’s day of reckoning—finally. At last, he knows that his big gamble is going to pay off.
His small gold exploration and development company, Amarillo Gold Corp. (AGC:TSX.V), just got preliminary approval to build a gold mine in Brazil.
This now sets the stage for the construction of a mine, which requires one more permit. In other words, Amarillo Gold is finally poised to capitalize on a resurgent gold market.
For Doyle, this milestone development isn’t just about technically derisking a gold project that he’s been developing for over a decade. It’s also a triumph of the “quality over quantity” mindset that motivates him.
Such thinking makes him something of a contrarian in the gold exploration business. Most geologists are obsessed with so-called “elephant hunting,” which involves trying to find deposits that are upwards of 10 million ounces in size.
However, Doyle has already been there and done that. His claim to fame is being integral to an exploration team that discovered the giant 45-million-ounce Lihir gold mine in Papua New Guinea, by far one of the biggest mines ever found.
That was in his younger days, when he was as recklessly adventurous as he was ambitious, he says. So he remained undaunted by bouts of malaria, foot rot and even a life-threatening helicopter crash as he slogged through jungle terrain in search of the geological jackpot that became Lihir.
Now in his 50s, he says he’s much more of a cool-headed pragmatist. Which is why he’s happy to focus on grooming a far more modestly sized gold deposit in central Brazil, near the town of Mara Rosa.
It contains a little over one million ounces. …read more