The competitive resource acquisition model of Deveron
November 12, 2014 — In a special InvestorIntel interview, Tracy Weslosky, Editor-in-Chief and Publisher for InvestorIntel interviews David MacMillan, MSc and Board member of Deveron Resources Ltd. (TSXV: DVR) about their latest zinc and graphite acquisition and the opportunities for additional investments opportunities in the existing marketplace.
Tracy Weslosky: Today I have the pleasure of speaking with David MacMillan of Deveron Resources Ltd. (TSXV: DVR). How are you today?
David MacMillan: Good Tracy. How are you?
Tracy Weslosky: Now I really like Deveron Resources’ story and I hope InvestorIntel audience members are listening to me right now because we do have companies like this out there. Everyone’s talking about all the misery, but what we have here is basically a company that’s seeking acquisitions. Is that correct?
David MacMillan: Yeah. That’s exactly what we’re doing. We’re a company that’s been structured to take advantage of the fact that resources are out of favor and it’s the time to buy.
Tracy Weslosky: And of course, you know, there’s a lot of public companies out there, and I know for some of you newer investors, you might be looking at companies you may not be appreciating what a tight structure is. This is the definition of a tight structure. David, can you tell us a little bit more about how you put this model together cause you have what, barely 12 million shares outstanding?
David MacMillan: That’s right. We’ve got 11.8 million shares outstanding and uniquely there’s only 3 million shares in the public float. Insiders and our larger shareholder, Greencastle Resources, owns about 75%. You’re looking at something where there’s only 3 million shares out there. We all have a significant stake in it and we’re hoping to build something that’s going to be fantastic.
Tracy Weslosky: We have a company with cash, it’s a tight model and you just did an acquisition for two very hot commodities. We’ve got graphite and zinc. Tell us a little bit about your most recent acquisition.
David MacMillan: Absolutely. We’ve taken over this property about 40 kilometers west of Thunder Bay so pro-mining jurisdiction. We’ve got graphite and we’ve got zinc, which we feel is two things that that, one, has some great macro fundamentals underneath it and two, is actually looking positive in the market right now.
Tracy Weslosky: Well, the company that you acquired it from has done quite a bit of drilling and had some very impressive results. Can you talk to us a little bit about this? To access the rest of the story, click here.
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Tracy Weslosky is the founder and CEO for InvestorIntel Corp. (2001-Present), a leading online source of investor information that since 2001 has provided public market ... <Read more about Tracy Weslosky>