Business Q&A with Mark Calderwood
PerthNow
July 12, 2011 5:02PM TOPICS BusinessNews
THE boss of Perseus Mining, Mark Calderwood has nearly three decades of mining and resources experience under his belt stemming from his first venture at just 10 years old.
This week’s Business Q&A explores the highs and lows of working with one of the world’s most precious metals, gold.
How did you first get into the gold industry?
I come from a mining family: we were involved with different metals but gold dominated for me since 1982.
My father, after a couple decades of prospecting and small-scale production, floated Mount Edon Gold Mines NL in 1986, which went on to develop Tarmoola (north of Leonora) in the late 1980s.
Mt Edon was originally a tantalum producer from Paynes Find and in the Gascoyne.
Apart from the family tantalum mines and prospecting, my first paid job was in scheelite exploration in the Gascoyne, my first flurry in gold was at Niagara-Kookynie north of Kalgoorlie followed by Cardinia east of Leonora and then drilling out the large Tarmoola deposit.
After more than a decade with the successful Mt Edon, I moved onto Border Gold a junior gold explorer (which later became Moto Gold Mines), in 1995 I moved to Ghana to run gold explorer Leo Shield Exploration NL’s Ghana office.
Leo Shield ultimately created Perseus Mining in 2003 and Perseus listed in September 2004. During 2003 and 2004 whilst waiting for Perseus to list, I also looked after exploration on the very large Moto gold project in the Democratic Republic of Congo.
In 2006, after 11 years in Ghana I moved back to Perth. I have been MD of Perseus Mining since its inception.
What is the best part of your job?
Every day is different. Particularly with our West African focus, it can be a very exciting job when we are on a run of discoveries.
Where do you see the company in five years time?
I see us producing about 500,000oz per annum. With a third mine in construction, we hope to stay in the top three Australian gold companies.
When do you expect Perseus Mining to become a gold miner?
We are a miner now and our first gold sale should be this quarter.
What will be the primary markets for Perseus’ gold?
The beauty of gold is that it will go everywhere in the world.
Has the rise of the Aussie dollar affected Perseus business?
Not really, as our projects are outside Australia and our key contracts are based in US dollars.
Given all the work you have done in West Africa, can you tell us something about the culture or country that readers wouldn’t already know?
Africa is made up of 47 quite different countries. I lived in Ghana for 11 years and can say with confidence that it is friendly and safe. Unlike parts of Perth, as a foreigner you could walk anywhere in Accra at night.
With 28 years experience in gold mining and exploration, can you imagine yourself doing something else? What would it be?
I cannot imagine myself breaking out of the industry but an eco-tourist retreat would interest me.
Where do you think the gold price will be in 12 months?
$US1450.
What’s your favourite thing to do in your down time?
I have a young family so that keeps me active, otherwise watching movies and reading.
If you were the WA Premier for a day, what would you do and why?
Open up more land in Perth, it’s very expensive per square metre.
Also put a competition out for ideas to develop a decent sustainable city somewhere in the North West.
Tell me something about you that would surprise our readers?
I had my first WA Miners Right at the age of 10 and knew how to peg a claim.
A40 Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
