Denis Laviolette: New Tech will Disrupt Mining Forever
Denis discusses the last bull market, a lot of money was spent in exploration, but few discoveries were found. Peak gold is, therefore, becoming an issue. As an industry, the ounces that have been mined are on the decline. Companies are amalgamating to obtain additional discovery potential.
The smart money in the mining industry is still waiting on the sidelines. There is a real niche community that wants to invest, but it’s not enough to trigger a bull market. It certainly seems like the bottom has arrived. Investors that are involved want to place their bets, but there isn’t enough money in this space yet to drive that exponential growth. Investors need something new, and we need to attract a new generation into mining.
Machine learning and A.I. is being used in many industries now. Goldspot is currently working with this type of data to find hidden patterns. Companies are collecting data but lacking the tools to utilize that data. The aim is to save the industry enormous amounts of time and money. They are pointing out potential targets for companies in exchange for royalties.
They are also looking at how this data and technology can affect investments strategies. They have been quietly building a massive database to track a variety of factors and are training an A.I. system to help make investment decisions in mining.
Time Stamp References:
1:20 – Peak gold due to lack of discoveries.
2:30 – Last bull market lots of data was collected.
4:20 – Smart money waiting on sidelines
6:00 – Mining needs to attract a new generation.
9:00 – A.I. and Machine Learning to process data.
11:30 – Analyze mining financials with A.I.
Talking Points From This Week’s Episode
• Peak gold and the lack of discoveries.
• They want to find uses for the big data collected in the last cycle.
• Young people need to become attracted to the sector.
• Advanced data processing and analysis will change the marketplace.
Denis Laviolette is CEO & Director of Goldspot Discoveries. Denis has over ten years of experience in exploration, mine operations, and capital markets. Worked in Northern Ontario (Timmins, Kirkland Lake, and Red Lake), Norway and Ghana and took on a diverse array of tasks, including grassroots exploration, start-up mine management, and advanced mine operations. Worked as a Mining Analyst with Pinetree Capital Ltd. and now serves as a Mining Analyst and VP of Corporate Development for ThreeD Capital Incorporated, President of New Found Gold Corporation and Director of Xtra-Gold Resources Corporation, Northern Sphere Mining Corporation, and Tartisan Resources Corporation. Denis has a BSc in Earth Sciences (Geology) from Brock University.