A Casey Explorers’ League Honoree Does It Again

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By Marin Katusa, Chief Energy Investment Strategist

Jim O’Rourke, a Casey Research Explorers’ League honoree, will be inducted into the Canadian Mining Hall of Fame on January 10, 2013. Alongside Jim, Pierre Lassonde (Franco-Nevada Mining Corp.) and Chuck Fipke (Dia Met Minerals) will also be inducted. I highly recommend that everyone go through the Explorers’ League honoree list annually, as well as the Casey Research NexTen to see how much of your resource portfolio is handled by the best in the resource business.

I’ve been lucky to have so many great mentors who have taught me the ins and outs of the junior-resource investing world, such as Rick Rule and Doug Casey – but none were harder to get an initial meeting with than Jim O’Rourke. Getting him to take a meeting with me back in 2006 was a feat of endurance. I literally called every day for two months. After getting bounced emails because his inbox was full, I stopped leaving messages until it was cleared out – and then the process was repeated.

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Let this be a lesson: never give up.

Finally, one day Jimmy answered the phone. As it turned out, he was out of town for most of those two months, and his assistant took down his messages. He figured that I’d call again, so that was how we met.

Back then I didn’t call him “Jimmy” – he was “Mr. O’Rourke.” That was the beginning of a great relationship with one of the true legends in mining. Over the last seven years, I’ve been on the board of Copper Mountain; I’ve watched Jimmy put together a great team and build the third-largest producing copper mine in Canada. He did all this during one of the most difficult markets in the last fifty years. Jimmy’s passion, drive, and energy motivates everyone around him to give more than their best.

Jimmy is shy to take any recognition for his current and past achievements, and is always the first to pass around the recognition to the mine site workers, geologists, engineers, the office admin, the suppliers and yes, even the bankers (that’s how nice Jimmy is – he is even nice to the investment bankers).

His work ethic is incredible and sets a standard that I try to emulate. Together we’ve spent countless weekends in the office going through financing options and corporate strategies. He would always make time to listen to all my ideas and questions. He was always patient and always willing to educate, for which I’m extremely thankful. It was a complete blast for me, as I became close to someone who was willing to share his 50 years of knowledge in the business.

Jimmy, you’ve been a great mentor and friend, and congratulations on being inducted into the Canadian Mining Hall of Fame. I look forward to being at your induction ceremony in January.

Investing in the resource sector would be easy if there were more Jim O’Rourkes around. That is exactly what the point of the Casey NexTen is all about. Who is going to be the next Jim O’Rourke? Who will be the next the Lukas Lundin or Ross Beaty?

I’m a big believer that there are characteristics the Casey Explorers’ League Honoree’s all share. They are the foundation for success, which creates the metrics upon which the Casey NexTen list is based. If you’re investing in the junior resource sector or want to learn “who’s who in the zoo,” you need to know who the NexTen are, and why they are on the list. Don’t you want to be invested in a company whose president will be inducted into the relevant Hall of Fame? You should, because it would most likely mean you’ve invested in a winner, which means big profits for yourself.

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In January, we will be announcing our newest Casey NexTen honorees. Until then, familiarize yourself with current NexTen group. Do your portfolio a favor and follow these rising stars.


Additional Links and Reads

Chevron Appeals Argentina’s Asset Embargo (Petroleumworld)

Ah yes, Argentina… Where oil and gas dreams go to die…

Being the fourth-largest producer of oil in Argentina doesn’t mean your assets are not at risk. First YPF, now Chevron. Even before the YPF issue happened, in both our newsletters and publicly we have stated that investors looking to invest in Argentina’s conventional and unconventional assets should stay away. The “wrath of Cristina” continues.

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USA to Beat Both Saudi and Russian Oil Production by 2020? (New York Times)

According to the International Energy Agency (IEA), not only will the US beat Russian and Saudi oil production, but it will be energy self-sufficient by 2035. The story makes great reading, but I can’t remember the last time the IEA was right in its projections. I also think Putin would disagree with the report.

Comeback Time for Coal? (New York Times)

This is an interesting piece on what is going on in the global coal markets. Is it time to jump back into your favorite coal companies? The Casey Energy Report has discussed coal extensively; if you’re interested, you should try out our risk-free three-month trial. This was a good piece, though overly optimistic for the current conditions.

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avatarDoug Casey - Casey's Daily Dispatch posted Tuesday, November 13th, 2012.

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