Globe and Mail Article January 2017 Connection to Waterton"The top TSX gold gainer is finding fortune in projects no one wants"
I've mentioned this article before....end of article is as follows:
See where I highlighted the Waterton part with Isser Elishis who's head of Portf. Management there...his comment....15.6 million shares bought...somebody obviously sees deep value at this share price level.
Mr. Huet's mining veins run three generations deep. His grandfather, father and uncles were all underground miners. His first mining job came straight out of high school; he started as a janitor at a mine in Timmins, Ont. In 1997, while working as a driller, he was accepted into a pilot program that allowed him to pursue a mining degree while still being paid a salary by Kinross Gold Corp. He was 32 when he graduated. "I know what it's like to drill and blast, and grab a jack leg," he said. "I've done all that for 10 years before I went into management."
Within the mining community he's known for his expertise developing underground mines on narrow, concentrated deposits, such as Fire Creek and Midas. "There's a very short list of people that would take on these narrow-vein high-grade systems," Mr. Allan said. "Not a lot of people are good at mining them."
The next test for Klondex will be whether it can turn around the Hollister and Aurora projects in Nevada which it recently purchased from Toronto-based private equity firm Waterton Global Resource Management Inc., says Allan, who currently has a hold rating on the stock with a $7 12-month target.
If Mr. Huet shows that Klondex can add value to the project, Mr. Allan says he'll likely recommend investors buy the stock. Mr. Huet says Klondex intends to begin processing ore from Hollister at its Midas mill, just 30.5 kilometres away, within six months.
If he succeeds, Klondex could become a takeover target, according to Isser Elishis, chief investment officer at Waterton, which remains a shareholder in the project. Huet is less certain, noting that it would take a "unique company" to acquire Klondex and not watch its assets fail again.
In any case, Huet says he has no plans to leave the company.
"I don't care if somebody offered me four times the salary; I would not leave. You have to remember that I built this thing."