​Broadway Gold CEO Duane Parnham Talks About a “Real Gamechanger for Mining”

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After spending over half a decade enduring a massive downtown, it appears that the metals market readying for the return of a commodities super cycle. Opportunistic companies that spent the past few years harvesting major assets selling at distressed prices are now poised to reap the returns. It’s exactly the playbook Broadway Gold Mining Ltd. (BRD:CA)(BDWYF)(FRANKFURT:BGH.F) is looking to execute on with its 100%-owned Madison copper-gold project in the Butte-Anaconda mining region of Montana. The company’s management team, led by CEO Duane Parnham, has nearly three decades of experience identifying undervalued assets and turning them into viable projects that generate sizeable returns for stakeholders.

Parnham recently sat down with Equities.com Broadcast Contributor Silvia Davi at the NASDAQ MarketSite to provide his keen insights on the current environment for the metals and mining industry, as well as some compelling updates on the company’s Madison Project.

From a macro perspective, Broadway and the rest of the mining industry are benefiting from a number of tailwinds. For one, the prolonged bear market in the resource space looks to finally be over, and more importantly, ready to move higher. But in addition, the political environment seems to be much more mining-friendly than it has been in years past.

“I see a dynamic change, obviously, with the Trump administration and the political movement right now with “America First” and creating jobs in America, and deregulation—which is pretty exciting when it comes to permitting these mines,” Parnham said. “Montana has a bit of a history of not allowing mining, but we’re in a really prolific mining camp with a lot of history, so I think it’s a great region. The biggest thing going on is the infrastructure build. We’re hoping to spend $1 trillion in the US to rebuild bridges, roads and all this. That puts a huge demand on metals, and copper in particular is a leading metal in that industry. So, I see that as a real gamechanger for mining.”


That bodes well for Broadway, whose flagship Madison Project is located in a region historically dubbed “the Richest Hill on Earth.”

“Our project is in Montana, outside of a world-famous mining camp called Butte,” Parnham said. “We’re about 45 minutes from the epicenter. People say there’s about $529 billion worth of metals still undeveloped, and we’re hoping to tap into a little bit of that. Our project is a past-producing operation, and it’s an advanced-stage exploration right now where we’re finding really good copper and extremely high-grade gold veins.”



Recently, the company released the latest results from its underground drilling program at the project. Parnham said in the announcement that the results were some of the highest intercepts returned to date, and that the Madison Project continues to exceed the company’s expectations.

“We’ve been surface drilling and announcing copper results over the last number of months,” Parnham explained. “But our first drill hole in the underground portion of our exploration returned extremely high-grade—99 feet of 0.7 ounce per tonne (oz/t) gold—with individual hits as high as 6 oz/t gold. So, it’s spectacular news.”

But a promising project can only be as good as the team behind it, and fortunately for Broadway, the company’s management is one of its core strengths. Parnham and the rest of Broadway’s leadership have proven track records of successful mining startups with major exits.

“It’s a 28-year history working in oil & gas and mining,” Parnham said of his experience in the industry. “We’ve had a number of successes. This is my fourth small-cap resource startup. My previous ones have had market caps between $250 million to almost $900 million. We’ve had a number of companies bought out, and it’s just had a great following of retail and institutional investors. So, Broadway is just another new project that we were happy enough to get, and timing is everything. We are a very cyclical-natured industry, so finding these assets when no one else wants them and then applying our skillsets to upgrade them, and make them into a reality is really a lot of fun for me.”

For now, Broadway’s primary focus is developing the Montana Project using Parnham’s tried-and-true methods.

“What I’ve done in the past is apply my managerial, technical and financial expertise,” Parnham said. “We’re going to upgrade the project, and de-risk the project for capital build or M&A activity. That process returns a lot of value to our shareholders.”


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Companies

Symbol Name Price Change % Volume
BRD:CA Broadway Gold Mining Ltd. 0.48 -0.02 -3.06 34,000
BDWYF Broadway Gold Mining 0.39 -0.01 -2.99 16,990

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