Veteran mining entrepreneur Tim Goyder has emerged as one of Western Australia’s wealthiest company directors, after the spectacular success of Chalice Mining this year.
Mr Goyder has been investing in and running exploration companies since the 1970s and has ridden numerous commodity cycles.
He is currently chairman and major shareholder in three companies: Chalice Mining and DevEx Resources, which both have a diversified portfolio of exploration plays, and lithium stock Liontown Resources.
Mr Goyder’s fortunes, literally and figuratively, are very much on the up and up, in large part because of Chalice’s Julimar discovery earlier this year.
The palladium, nickel and copper find was one of the most talked about discoveries of the year.
As a result, Chalice’s share price has rocketed from about 20 cents to $4.30 per share over the past 12 months.
That has lifted the value of Mr Goyder’s stake to about $150 million.
His holding could be worth even more.
He sold 10 million shares earlier this year to help satisfy keen institutional demand for the stock.
Those shares were sold for $1.05 each and are now worth four times that.
However, the company’s stronger shareholder base has set it up for bigger things in future.
Chalice is in the midst of a $100 million capital raising at $3.75 per share.
The proceeds will fund further drilling, with Chalice planning to deliver a maiden mineral resource by mid-2021 and a pre-feasibility study during the fourth quarter of 2022.
Added to Mr Goyder’s Chalice stake is his shareholding in Liontown, worth $102 million, and his holding in DevEx, worth $13 million.
In addition, he is a shareholder in gas play Strike Resources, which enjoyed a strong run last year after its exploration success in the Perth Basin.
Mr Goyder’s stake in Strike is worth about $10 million.
If Chalice’s Julimar project lives up to its early promise and becomes a world-class mine, Mr Goyder could rival some other notable WA ‘rich listers’ from the mining sector.
Geologist Mark Creasy is worth an estimated $900 million.
A large part of his wealth is held in shares in ASX-listed IGO, which he acquired after IGO bought the Nova nickel project.
Another success story is Kerry Harmanis, worth an estimated $640 million.
Most of that stems from the 2008 sale of his stake in nickel miner Jubilee Mines.