20TH ANNIVERSARY COMMEMORATIVE EDITION AUGUST 6-8, 2012 DIGGERS&DEALERS A NEW ERA BEGINS

Diggers&Dealers 4 20-year anniversary edition WESTBUSINESS

Resources To say it has come a long way would be a massive vital to WA understatement. ■ Norman Moore in the industry is with the to play an essential part in WA’s Exploration Incentive Scheme’s resources industry, as it has This year will celebrate 20 years (EIS) flagship co-funded drilling done for more than 110 years. since the first Diggers & Dealers program. Another crucial part of the conference. The State Government has industry’s longevity is To say it has come a long way extended funding for EIS until maintaining high safety would be a massive the end of June 2016 and a total standards. Nowhere is this more understatement. It is not just of $138.1 million will have been apparent than in the Goldfields. the conference that has come a committed to exploration The commitment the long way, but the very region incentives since its start in 2009. Goldfield’s mining community this event celebrates — the It also means the co-funded has shown to the annual Goldfields. drilling program will continue underground and surface mine Back in 1992, when Diggers & offering twice-yearly funding rescue competitions is just one Dealers was first held, the grants. In the last round of indication of this. Goldfields’ resources industry co-funded drilling, 22 of the 56 The State Government is was worth $1.9 billion. Last year exploration projects to receive committed to improving safety it soared to $8.3 billion, with funding were Goldfields-based. in the industry. The reforms we gold alone worth $5.6 billion. Beadell Resources’ Tropicana have undertaken address how I have no doubt that the East project and West Musgrave the Department of Mines and Goldfields, and Diggers & prospect have both benefited Petroleum, as the regulator, Dealers, will continue to build from previous EIS funding and works with industry to save on this remarkable success. it goes to show that there is still lives and reduce injuries. However, it is important we plenty of gold (and other Twenty years of Diggers & make the most of these resources) in the Goldfields just Dealers is a tremendous opportunities. One way the waiting to be discovered. achievement and no doubt this State Government is Programs such as EIS will year’s conference will continue Confidence in future: Mines and Petroleum Minister Norman Moore. encouraging further investment ensure the Goldfields continue to build on that success.

Crazy idea There were very few forums for these activities to that grew occur. ■ Kate Stokes few forums for these activities industry represents. to occur and as such it required Unfortunately, Geoff passed Twenty years ago, my late enthusiasm and drive to make away in 1997 while Diggers was husband Geoff had a concept the first Diggers & Dealers in still evolving but I have no doubt where he envisaged the cream of Kalgoorlie happen. that he would be exceptionally the resources industry meeting Geoff used stockbroker David proud of the manner in which in Kalgoorlie annually to Reed to help in getting Diggers has been embraced, and promote and discuss activities companies involved and that the whole industry is in which companies were Graham Thomson to assist with represented from the involved. the logistics. international mining majors to The idea was to create an The first year about 125 people the explorers, the brokers and environment where all players, attended. investors, and to the suppliers from brokers to investors, This year we will host more and professionals, all with a miners, suppliers and than 2200 people in Kalgoorlie- common goal of promoting their professionals, could develop Boulder. industry. That was what Geoff relationships, do deals and Despite current uncertain was passionate about and that is generally advance the markets, industry enthusiasm the reason our family remains opportunities and dreams that and the Diggers can-do attitude committed to facilitating the many in the resources’ sector will facilitate an environment forum. have. where the broad industry will I have no doubt that Diggers & It was in some ways a crazy find deals, raise funds and Dealers will remain in idea, as apart from technical generally advance the positive Kalgoorlie Boulder for many conferences, there were very cause that the resources years to come. Proud involvement: Kate Stokes reflects on two decades. Picture: Bill Hatto Diggers&Dealers 5 20-year anniversary edition WESTBUSINESS Why Diggers is the place to be

■ Peter Klinger Business editor It’s easy to be critical of some Nowhere else in Australia do you get aspect or another of Diggers & Dealers. Heck, I have been in the such a big ensemble of mining industry past — a lack of news thanks to continuous disclosure regimes, insiders, supporters and onlookers. an overly-tight presentation schedule and too few world mining leaders attending as in the front bar of the Palace, Diggers is special to many in the speakers. there no longer is a segregation media. It is here, in the heart of Yet every year I am one of 50 between mining company the Goldfields, where many of or so media cohorts who return bosses, fund managers, us, including me, first got their to Kalgoorlie-Boulder because if well-heeled private investors, lucky breaks, working and or you want to understand the analysts and members of the living in Kalgoorlie-Boulder mining sector in Australia, you media pack. Friendships are surrounded by some of the most need to be at Diggers. struck and relationships famous mines in Australia. Nowhere else in Australia do renewed, seeds are sown for Tania Winter, Neale Prior, you get such a big ensemble of deals of the future as well as Ron Berryman, Matt mining industry insiders, story ideas. Chambers, Michael supporters and onlookers as at And that it why attendance at Vaughan, the late but not Diggers. An ensemble captive to Diggers is such a worthwhile forgotten Kevin Andrusiak, the confines of the conference exercise. Andrew Burrell, Kate and its surrounding drinking And which is why each year Askew, Russell Woolf holes like nowhere else in the media room is packed more and Sarah-Jane Tasker Australia, or maybe the world. tightly than the year before, to name but a few have It forces networking. It with local, national and spent time in the demands striking up increasing numbers of Goldfields capital. For acquaintances. international media many of us, Diggers & It ensures all and sundry are representatives. Dealers is a return to on a level footing. Late at night, There is another reason where it all began. Keen supporter: WestBusiness editor Peter Klinger. Picture: Simon Santi

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Diggers&Dealers 7 20-year anniversary edition Remember 1992 WESTBUSINESS Way back where it all began It’s been two decades of highs and lows and high jinks at the State’s premier mining conference. Neale Prior delves into the archives of The West Australian and the Kalgoorlie Miner for an insight into a remarkable era. Winner: John Jones, pictured with Rod Russell and Keith Biggs, won the deal of the year award over the Boulder Block Hotel sale.

fter evolving from the Diggers’ Bash in DIGGERS Kalgoorlie and Founder: Geoff Stokes and his wife Kate. Aincorporating annual There’s nothing like &DEALERS Diggers & Dealers awards from hold from the start at what was recognition of his contribution LIFTOUT Perth, the Diggers & Dealers then called the Diggers & to Mr Jones’ already sizeable a good resources Stories: Neale Prior conference had a relatively Dealers Bash. bank balance, KCGM executive Design: Andy Piggford humble start in February 1992. The theme for the conference Ian Burston was given the boom to kick-start Cover: John Henderson Australia was just emerging was “let the boom begin”, and community contributions award from Paul Keating’s recession there was no shortage of for his commitment to the new our stuffed Aussie For up-to-date news from we had to have and the confidence about which sector Hannans North tourist mine. Diggers & Dealers 2012 reputation of WA business had of society was best qualified to Mr Manners won the industry economy. check out WestBUSINESS been damaged by the events of lead the nation back to wealth. contribution award for his work in The West Australian or at the late 1980s and early 1990s. There was broad agreement with the Association of Mining Geoff Stokes thewest.com.au/business Yet some green shoots were with the sign at the Palace and Exploration Companies. emerging in investment markets Hotel: “If this country has a even as the WA Inc scandal was future it depends on the being unravelled at a royal continuing mining of gold and commission in Perth. the control of the country by Some 200 delegates, including resources men — we can’t trust six stockbrokers and two the politicians any longer.” merchant bankers from Kalgoorlie stalwart Ron interstate, attended the event, Manners picked up on this along with international gold theme and the fact that a shares investor Willie McLucas. representative of the State The conference was the Government’s Small Business brainchild of businessman, Development Corporation had accountant and Palace Hotel only recently visited the publican Geoff Stokes. Goldfields town offering free The Goldfields spirit of advice on tax and corporate irreverence and optimism took affairs. “What I find amusing is that all this advice is brought to us free by our loved State Government,” Mr Manners told delegates. “Yes, the very same people who brought us WA Inc, the Petrochemical fiasco, the WA Development Corporation and the Rothwells rescue. The same people who have shown cash in paper bags is a preferred style of doing business.” Former Boulder Block Hotel owner and racehorse enthusiast John Jones won the award for the best deal of the year for selling the pub to Kalgoorlie Consolidated Gold Mines for the ever-expanding gold Super Pit. KCGM did not want the pub but was instead interested in the dirt underneath it. Mr Jones was already a legend for his sale of Jones Mining shares worth $15 million to Consolidated Exploration Stalwart: Ron Manners, here with during a takeover bid that Tamara Stevens of AMEC, gave the spanned the October 1987 government of the day a piece of sharemarket crash. his mind. In addition to the de facto Diggers&Dealers 8 20-year anniversary edition 1993 WESTBUSINESS

Pollie bashing That hired help is not your wife or your staff — it’s your State and Federal he event took on the posher sounding name Members of Parliament. Diggers & Dealers TForum. Graeme Smith checking whether anyone had beaten up their hired help But bash was still on the menu at one of the event’s dinners, with Eltin chairman Central was aggressively Graeme Smith taking the drilling nearby tenements. pollie-bashing baton from Spirits were lifted even more industry stalwart Ron Manners. at the forum’s awards night with The millionaire mining unlimited amounts of food, beer, contractor described politicians wine and spirits served up by a as egotists who had to be team of scantily-clad relegated back to their rightful Diggerettes. position as “hired help”. The exploration medal was He claimed politicians were won by Great Central for its the major threat to Australia’s outstanding work at growth and particularly the Survivor: Phil Crabb. Critic: Graeme Smith. Hitting back: Julian Grill Bronzewing. The Contractor’s growth of the mining industry. Medal went to Goldfields “It’s one of our few industries gentlemen… and Graeme through what veteran Boulder Town Hall. Most drilling firm Glindemann and which is world-class and Smith”. stockbroker David Reed, of companies presenting papers Kitching, which had set up a internationally competitive — Former Labor minister and forum backer Eyres Reed, were in the transition stage base at Meekatharra to service and it’s being forced to look Eyre MLA Julian Grill was not described as a boom to exceed from explorer to miner. the Bronzewing discovery. outside of Australia, “ Mr Smith so nice, saying Mr Smith’s the nickel boom of the late 1960s. In the spirit of optimism, The entrepreneurial medal said. "It’s a ridiculous situation attack was a “swaggering The gold price had headed Great Central Mines’ went to Phil Crabb, who was and if we allow it to continue it display of arrogance and north from about $US300/oz in exploration boss Ed Eshuys wiped out in the 1987 crash but will bring the country to a insensitivity” and claiming the early 1993 towards $US400/oz at vowed to step up the company’s maintained his links with standstill and bring contractor was the big the time of the conference. $500,000-a-month exploration Kalgoorlie-Boulder. unemployment to 15 per cent." beneficiary of a lack of a State In line with the rising market program to fulfil a prophecy by The company promotion New Liberal Premier Richard royalty on gold. and after a solid start in 1992, New York rabbi Menachem medal was won by Mr Manners’ Court gently hit back at a “The truth is other WA the number of Diggers & Schneerson that Great Central Croesus Mining because of what commemorative dinner to taxpayers are subsidising his Dealers delegates surged to an boss Joe Gutnick would find was described as its continued celebrate Kalgoorlie’s centenary, multimillion-dollar lifestyle in estimated 500 and the gold and diamonds. prominence in the media and starting his talk by addressing the Swan Valley,” Mr Grill said. conference was moved from the Heading towards production the way it promoted its the audience as “ladies and The gold sector was going Palace to the more spacious at its Bronzewing mine, Great interests.

Diggers&Dealers 20-year anniversary edition 1994

Toecutters You have to get into training quite early to go the distance. join party David Reed on the gruelling festivities t is the measure of an mine. For its digging efforts, event’s growing importance Plutonic won the outstanding Watching: Exchange analyst Joann Condon and surveillance On the social side, the when company share prices producer award with Herald chief Jim Berry check the markets. Diggerettes continued to feature Istart moving in anticipation Resources. in what was turning into one of of what might be going down. Not surprisingly, three update on its drilling at again where a company is Australia’s top three-day And that is just what seems to officers from the Australian Bronzewing and Jundee, suspended because everyone swim-throughs. One digger’s have happened with the 1994 Stock Exchange’s Sydney-based allegedly without first telling hears it first at Diggers & excessive attention to a Diggers & Dealers Forum as surveillance division were the stock exchange. Dealers, ” Mr Stokes said. Diggerette earned him a solid more than 400 brokers, spotted among delegates at the Some companies had used the David Reed, from sponsoring right hook and brought a tray of investors, analysts, geologists, conference. Led by manager Jim mid-July conference to release stockbroker Eyres Reed, said glasses crashing to the floor of investment bankers, mining Berry, the toecutters found their June quarter reports, but the growing international the old town hall. company promoters and themselves deeply emerged in other had to rely on their March reputation of the forum was best On the awards front, nickel regulators descended on what must be one of Australia’s quarter reports to make general summed up by former Delta miner WMC was recognised for Kalgoorlie-Boulder. most fertile breeding grounds presentations to avoid getting Gold chief executive Peter its mineral development efforts Mt Edon Gold Mines for scarce information. up the nose of the exchange’s Vanderspuy. “He told me after and its role in forming the attributed a rally in its shares to “A regulator can’t shut watchdogs. last year’s conference it was the Goldfields pipeline consortium. market anticipation of himself off and sit in his ivory This prompted Diggers & best in the world,” Mr Reed said. Ron Sayers’ Ausdrill was showcasing its WA gold tower,” Mr Berry said. “He Dealers organiser Geoff Stokes Amid the beer and banter, recognised for its efforts operations at the forum. needs to know what is going to look at moving the 1995 rumours circulated that St expanding in Australia and Shares in Plutonic Resources on.” It did not take long for the conference to August so Barbara Mines boss Ross Atkins overseas. Eltin’s Graeme Smith flew after corporate manager Berry crew to swoop, slapping a companies could prepare planned to spend $8 million was recognised for finding the Denis Clarke said the explorer short suspension on Great presentations based on their refurbishing his riverside finance for a new student could be sitting on a giant Central Mines after exploration latest quarterly releases. Dalkeith mansion, formerly amenities building at the WA resource around its eponymous director Ed Eshuys had given an “We don’t want it to happen owned by Alan Bond. School of Mines. Our mining future starts with Australia’s oldest mining school.

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wasm.curtin.edu.au Diggers&Dealers 10 D 20-year anniversary edition 1995 WESTBUSINESS 20 Clouds on N T the horizon pip se

he Diggers & Dealers was living up to its reputation ch Forum had grown into a as the premier Australian Native title warning: Robin Dean. Legend: Mark Creasy said uncertainty threatened future investment. Pe major event on the mineral province ripe for hi Tinvestment conference investment. described by one observer as of calendar, with more than 300 Projects that were up and “frequently nothing short of dis delegates visiting from outside running included WMC’s giant breathtaking”. in WA and helping to swell Mt Keith nickel project, which We work hard during the day at Diggers Foremost among these was in numbers beyond 700. cost $450 million, and Great Plutonic’s resource and reserve And it was not only the Central Mines’ $64 million and then we play at night. update around the Plutonic to official presentations at the Bronzewing gold mine. mine, which earned it the Au Goldfields Arts Centre and the Work had begun on the $400 Geoff Stokes on booze not being served at lunch medal of Most Outstanding we gala closing dinner at the million Goldfields to Pilbara gas Producer. se Eastern Goldfields Aboriginal pipeline project and gas-fired Claiming the title of Advancement Council centre in power stations that had been companies that concerns about happen in the future?” he said. Australia’s best mining in Lionel Street that drew the spawned as a result. native title were causing Australian resources conference for Diggers & gr delegates. Closer to Kalgoorlie-Boulder, companies to drill in less companies and investors were Dealers, organiser Geoff Stokes an There were unofficial site well-advanced projects included prospective areas not affected by hedging their bets, with said the number of delegates co visits, in addition to the Kalgoorlie Consolidated Gold potential claims, or looking emerging enthusiasm for would be capped about 800. th nocturnal investor relations Mines’ $115 million Fimiston overseas. exploration in Africa on show at “What we set out to do and De activities conducted at locations plant expansion and $81 million Prospecting legend Mark Diggers & Dealers. what we achieved has been Ba such as the Palace and Kanowna Belle underground Creasy, who had just banked a After the previous year’s quality, not quantity,” Mr Stokes Go Exchange hotels. development by North and Delta $117 million cheque for selling two-hour trading stock said. ro The presence of influential Gold. tenements to Great Central exchange suspension of Great And quality was certainly on Pr brokers, analysts and investors Yet it was not all good news, Mines, agreed. Central, mining companies were the menu as well. sh was being used by companies to with St Barbara Mines chief “How can anyone invest when being very coy pre-conference No fewer than four road trains tell the world that the Goldfields executive Robin Dean warning you don’t know what’s going to about what they would be brought up essential items pr releasing and then were making for the conference, including fou sure market announcements 3000 cans of beer and 1080 en were made first. bottles of fine wine for the gala co With the stock exchange dinner. The menu also boasted M watching at close quarters, crayfish, smoked salmon, 100 aft there was no room for slip-ups. dozen oysters, 20 sides of M Companies such as Plutonic, Norwegian smoked salmon, qu Great Central, and Delta Gold 30kg of fresh crabs plus beef, co provided project and chicken and 24 wheels of tim exploration updates that were Margaret River cheese. div Farewell to a g

e was known in life as an accountant, husband, father, Hcompany promoter, director, racehorse owner, publican, confidante and “He was incredibly chairman of the Kalgoorlie-Boulder Racing Club. generous. Yet Geoff Stokes will arguably be best remembered for decades Ian Taylor, former MLA as a good bloke and the man who put the momentum into the Diggers & Dealers juggernaut. When he died in February 1997, Diggers & Dealers was already being noticed around the world and it had become a major forum for industry players to pitch their case. As Mr Stokes said in 2006: “It’s sort of grown from a fun thing to a bloody serious thing.” Former Diggers & Dealers chairman David Reed said the late Mr Stokes was a major figure in the mining industry and instrumental in lifting the profile of Diggers & For his Dad: David Stokes stands in Sa Dealers. for Geoff at the 1996 forum. los 0 Diggers&Dealers 11 SS 20-year anniversary edition 1996 WESTBUSINESS Native title flak hings kept getting bigger and the gas was about to start coming down the TPilbara to Goldfields gas Without some prompt action from pipeline, but there was also a sense of worry in the air. Canberra, all Australians will be poorer Diggers & Dealers deputy chairman Peter Hawkins, a as a result of the mineral exploration Perth stockbroker, warned in his keynote address that the rate dollar going elsewhere. of gold exploration and discoveries would need to Ron Manners Good company: Sons of Gwalia’s Peter Lalor (left) with Ausdrill chairman increase if the Australian Terry O’Connor and Resources Development Minister Colin Barnett. industry was to keep growing. e He said with dollars heading pursuits in trying to understand was arguably a 1.5 metre replica O’Connor water pipeline had to Indonesia and West Africa, “this unworkable Native Title of a Goldfields headframe made done for the region. Mr de Australia and WA, in particular, Act”. Never mind such by Kalgoorlie College Crespigny, whose group had a 25 were now being seen “as a important matters, the question hospitality lecturer Glenn Jones per cent stake in the pipeline, second rate address”. on the lips of a lot of delegates in and his students using 30kg of said it would deliver long-term There was anxiety in the 1996 was: “Where are the commercial moulding low cost power. industry as it tried to come to Diggerettes?” margarine. And the forum moved into grips with new native title laws Where indeed. Certainly not Colin Barnett collected the cyberspace, with papers s and dealing with highly at the forum’s traditional forum’s most outstanding available online within minutes complex claims, as well as welcoming cocktail party on achievement award on behalf of of being presented and punters threats from Resources Monday night and even more the Ministry for Resources able to register for the 1997 Development Minister Colin conspicuous by their absence at Development and Energy, which conference through the website. Barnett that the Coalition State the Bash on Tuesday night. was recognised for its work with Geoff Stokes was absent es Government could look at a gold A furore which erupted in the development of the Pilbara fighting cancer in Perth, but the royalty after the next election. some quarters after the to Goldfields gas pipeline. industry stalwart was keen not n Premier Richard Court quickly previous year’s event had Normandy chairman Robert to miss out on what was Highlight: Palace Hotel executive shot his rocks minister’s idea. organisers deciding that it de Crespigny said the pipeline happening around his beloved chef Alan Thorley and Kalgoorlie ns Native Title Tribunal would be in the best interests of project would do to the forum and had an associate College lecturer Glenn Jones with president Justice Robert French the forum’s image to drop the Goldfields what the CY organise some video footage. the margarine headframe. found himself at the receiving Diggerettes. end of a free education session This did not slow the drinking a courtesy of forum veteran Ron at the traditional Diggers & Manners. During question time Dealers Bash party at the after Justice French’s talk, Mr racecourse, which ran out of Manners unfolded a two-page beer and wine — necessitating question that included a the sending of reinforcements comment that a great deal of from the Palace Hotel. time and effort was being At the more formal dinner the diverted from productive following night, the highlight a good bloke

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n Sad loss: Geoff Stokes with a copy of the 1996 Diggers, the last before he

lost his battle with cancer. 1488478 π JEGT040812 Diggers&Dealers 12 20-year anniversary edition 1997 WESTBUSINESS Gold in spotlight rime Minister John Mining magnate Joseph Facing the music: Warwick Parer Unhappy with gold decision: George Savell, David Reed and Bill Ryan at an Howard was supposed to Gutnick, who called for the addresses delegates. AMEC press conference. be the headline act but Government to intervene when Phad to cancel after being prices plummeted, said he was hospitalised with pneumonia. disappointed the Treasurer did Some industry figures were not attend the forum and “face hoping to get stuck into the PM the music” over the decision. There has been no great wave over his government’s Facing the chorus of discord endorsement of a Reserve Bank instead was Federal Resources of central bank sales in recent decision to dump 167 tonnes of Minister Warwick Parer, who its gold reserve and Treasurer asked delegates to keep the months but the fear is there. Peter Costello saying gold no Reserve Bank’s sale in Concerned: George Milling-Stanley blamed George Milling-Stanley longer played an important part perspective. speculators for forcing down the gold price. in the world financial system. “The Reserve Bank is a player The gold price and stocks had in the market just like everyone central bank sales to bully down from this recent setback and the from cancer in February. plunged, and diggers and else,” he said. the gold price and make huge long-term problem of a With support of industry dealers alike were ropeable. New York-based analyst for profits, ” Mr Milling-Stanley downward trend in the gold colleagues spurred on by Mr Stockbroker and forum the Gold Council, George said. The Association of Mining price and the domestic Stokes’ fight, industry veteran sponsor David Reed told Milling-Stanley, told delegates and Exploration Companies economic problems it is facing,” Phil Crabb unveiled plans to journalists he believed Mr that speculators were driving proposed a series of measures to AMEC chief executive George develop an accommodation Costello’s comments lacked down the price by selling gold assist and promote the industry Savell said. centre in Perth for cancer foresight and had a big they did not have. after the “potentially Amid the gloom, there was a patients and carers from psychological effect on the “I talk to several of the large catastrophic” selldown. “The record attendance of 780 at the regional and country areas. industry. speculators on a regular basis Australian gold industry is now conference but with one very WMC chairman Sir Arvi “The vibes that went out and there is no doubt in my in need of urgent notable absence — Geoff Stokes. Parbo was chosen as the internationally were not good,” mind that they are taking encouragement and incentives if The long-time driving force recipient of the inaugural GJ Mr Reed said. advantage of the market’s fear of it is to satisfactorily recover behind Diggers & Dealers died Stokes Memorial Award.

Diggers&Dealers 20-year anniversary edition 1998 Gloom not boom he mood was subdued, as both the gold industry and Kalgoorlie’s skimpy Tbarmaid culture was You can’t promote tourism to come and under siege. The ailing gold price, which see a hole in the ground. Kalgoorlie is had fallen below $US300/oz and was heading towards a 19-year about girls. It’s gambling, it’s grog and low, looked to have taken its toll on gold companies. it’s gold. They’re trying to destroy that Gone was the cautious optimism of three years before: history. it was more like 1997 when the Exchange Hotel owner Ashok Parekh on the skimpy crackdown In the pipeline: Richard Court pledges his government’s support for the industry was still suffering the Esperance desalinated water project for the Goldfields. affects of the Reserve Bank’s decision to dump its gold onto Crespigny set the tone for the spirits to sag. Police came under vowed the State Government world markets. with his opening speech. “The fire for cracking down on would support plans to pump An update on the on-time and industry is no doubt under real jaywalking and the behaviour of desalinated water from on-budget commissioning of two pressure,” he said. skimpy barmaids during the Esperance to Kalgoorlie. of the emerging laterite nickel Mr de Crespigny and other forum, with police detaining one Former stockbroker and mines, both in the Goldfields, delegates pointed to problems in at the Federal Hotel for exposing alpaca scheme promoter was well received. Centaur the junior sector, with countless her breasts on the first night of Andrew Forrest finally got Mining and Exploration, in small companies lacking the Diggers. “About 800 people from recognition from the industry, particular, was applauded for its cash to carry out meaningful all over the world were here winning the dealer of the year strong focus on cobalt at the exploration programs. experiencing part of Kalgoorlie award for his work financing Cawse project. The existing The best stories came from culture and they loved it, ” Anaconda Nickel’s $1.2 billion economic environment for the big producers, those with outraged Federal Hotel owner Murrin Murrin laterite nickel resources was described at low cash costs and good hedge Alan Hinchliffe said. “The development. And in the shape different times during the books who were making healthy police are only doing it because of things to come with Fortescue conference as “tough times”, “a profits and pouring some of that it is Diggers & Dealers, they’re Metals Group, he told trough”, and “the bottom”. back into exploration. morons.” conference the dinner that any Normandy executive And it was not only the start Premier Richard Court was dream could come true if it was chairman Robert Champion de of the markets that was causing on a political winner when he backed by persistence. Firm views: Ashok Parekh Diggers&Dealers 13 20-year anniversary edition 1999 WESTBUSINESS Tonics for hard times ore than 800 people chairman Graeme Smith said came to the the price had bottomed and Welcome arrival: Sir Arvi Parbo is met by Honoured: Sir Charles Court receives the GJ Stokes Memorial Goldfields capital things could only improve. “In Kate Stokes and Graham Thomson. Award from Geoff’s son David. Magain for Diggers & the next 12 months we will see a Dealers, despite many money major turnaround in market down either. Graham Thomson players being far more sentiment,” he said. revealed delegates downed interested in mining the market “The Goldfields is alive and 580kg of fruit and vegetables, for technology deals. well and is recovering. All Sir Arvi and my father Allan used to 700kg of meat and chicken, 1500 Commodity prices were down, answers to the downturn cannot bread rolls, 1800 small pastry pulling rocks out of the ground be tied to a scientific formula. It frequent the billiard room of the products, 210 litres of milk, 600 was being written off by has to do with opinion, attitude litres of fruit juice, 300 litres of technophiles as “old economy” and emotions. Sentiment defies Hannans Club playing billiards and spring water, 65kg of raw rice, and the gold price had been scientific measurement. ” 40kg of noodles, 28kg of olives, whacked again by the the Bank In his keynote address, drinking bullock’s blood, a special brew and 100 continental loaves. The of England joining the Reserve recently retired WMC chairman busiest booth, besides Nurse Bank of Australia in dumping Sir Arvi Parbo said gold mining that Sir Arvi designed. Nightingale’s stand that its gold holdings. had continued uninterrupted in provided a free supply of Gold had hit a 20-year low of Kalgoorlie-Boulder for 100 years Diggers & Dealers chairman Graeme Smith painkillers and fizzy hangover $US255.50/oz, exacerbating a and he tipped it would continue antidotes, was the power hire crisis of confidence in the to be the backbone of the In recognition of his glimmer of hope despite prices group Aggreko. Its marketing industry and a dearth of economy for many more years. contribution to the WA being down — thanks to the department had hired a greenfields exploration. “The mining industry has resources sector, former Cawse, Bulong and Murrin cafe-sized cappuccino machine Industry giant Newcrest slain many dragons in the past Premier Sir Charles Court was Murrin nickel projects coming and three women to serve up estimated the number of gold and companies which survive presented with the GJ Stokes on stream and potentially steaming heart starters. miners had fallen to 14 from 44 will benefit, ” Sir Arvi said. Memorial Award by the late making WA the world’s premier Unsurpisingly, the cappuccinos since the mid-1990s. “Gold miners are not strangers Geoff Stokes’ son David. nickel region. were far more popular than the But Diggers & Diggers to hard times.” Nickel had been providing a And consumption was not instant coffee offered elsewhere.

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4 - 6 September 2012 BurswoodBurswood Convention Centre, PertPerth,h, Western AustraAustralialia Why attend: jÒj listen to presentations on ggloballobal economics, commoditcommodityy forecasts and trends and “ ThiThiss eeventvent sshowcaseshowcases a developments in technolotechnologygy fantastic line up of speakers jjÒ meet leadinleadingg industry representatives and investoinvestorsrs all under one roof and with excexceptionaleptional jjÒÒ hear over 25 compancompanyy updates from leadinleadingg MD’s and CEO’s of exploration and mininminingg industry backing, this comcompaniespanies convention is the key jjÒ vivisitsit tthehe eexhibitionxhibition, showcasinshowcasingg mineral exploration, mininminingg companies and service providers industry event in Australia. to the industrindustryy ” jjÑ organised by Australia’s peak industry body fforor mineral exploration and miningmining.. Peter Buck, Director, KeyKey spspeakers:eakers: Antipa Minerals

LeiLeighgh Clifford AO The Hon Julia Chairman, Qantas Rob Heferen GilGillardlard MMPP Airways Limited & PetPeterer van OnOnselenselen Executive Director, Prime Minister of Former CEO, Rio ContributinContributingg Editor, Revenue Group, AustraliAustraliaa TTintointo GGrouproup The AustraliaAustraliann The TreasuryTreasury

The Hon Norman MooreMoore MP GGreyrey Egerton- CChrishris Hinde Minister for Mines Warburton Craig James Editorial DirectorDirector,, and Petroleum,Petroleum, Head of Corporate Chief Economist, IntIntierraierra ResourceResource Western AustraliaAustralia Finance, HartleHartleysys CommseCommsecc IntelliIntelligence,gence, LondoLondonn

ProudlyProudly supported by: Visit www.amecconvention.com.au to registerreggister todatodayy Diggers&Dealers P 20-year anniversary edition

Flash dance: AngloGold Ashanti shows off some of its jewellery during its Diggers & Dealers presentation. Finale: The WesTrac gala dinner to wrap up Diggers & Dealers.

Write stuff: Kalgoorlie Miner reporter Thomas Nelson Coffee break: Oonagh Lancaster with some of the pens on offer at the conference. and Ron Cunneen.

Face look: Deloitte Touche Tohmatsu’s partner Luke Diggers, Dealers and Doers: An irreverent Christo Martino and associate director Ashley Pattison. Welcome home: Nola Wolski helps find a place for the conference delegates. days as Fanny Cracker. Pick of the pics 15 WESTBUSINESS

Making friends: Stockbroker Tim Cruise with skimpy Alannah at the Federal Ready room: Gophers Ken Jensen, Bob Cable, Allan Francis and Graham Thomson in a quiet moment. Hotel. Tough job but someone… It’s serious work promoting hangers-on have enjoyed the Behind the scenes, organiser ventures and mulling over best that Kalgoorlie-Boulder has Graham Thomson and his teams industry challenges, but to offer, including the cheeky have put in thousands of hours delegates at Diggers & Dealers Diggers, Dealers and Doers of work each year to build have learnt to make the most of Exhibition in 2009 at the WA Diggers from a relatively small a tough gig. Museum building. gathering in 1992 to one of the Copious amounts of food and Tonnes of food are consumed world’s premier mining drink have helped the delegates each year in pursuit of the new conferences. make it through the three days big deal, as are unfathomable As the event has grown, and at least as many nights of volumes of beer and cartons of accommodation has become a Casa Tranquila: Questa Casa owner work and play. wine. premium and homeowners like Carmel Galvin told of quiet times in Brokers, bankers, miners, The pubs do very well indeed, Nola Wolski have opened their the bordellos. spruikers and various as did the skimpy barmaids. doors to delegates.

reverent Christopher Jordan-Wright relives his On duty: Kerena Wright with Citigold chairman John Foley at one of the Crowded house: Part of the crowd at least year’s event gather for the many Diggers & Dealers stands. conference presentations.

0022_bciron Diggers&Dealers 16 20-year anniversary edition 2000 WESTBUSINESS

Bigger and better It started off as a Kal show mainly for junior WA explorers, but because it’s he dot.com boom had court crew. Outgoing Diggers & There was a notable South come and gone, and Dealers chairman Graeme African presence, including just such a brilliant formula, it’s just Diggers & Dealers had Smith used his parting speech to Harmony Gold, AngloGold, Gold Temerged bigger and with give some customary free advice Fields and Impala Platinum. grown and grown. a proven durability. to politicians, decrying a raft of Gold Fields used the forum to Almost 1000 people signed up new Commonwealth and State flag a major push into the Incoming Diggers & Dealers chairman Brian Hurley for the forum, floor space had to legislation that had increased Australian gold sector. The be increased by 50 per cent to the costs of doing business and company’s exploration boss Delegates at the annual accommodate the 76 exhibitors reduced Australia’s Craig Nelsen said it had a list of dinner were prepared to fork out and most of the hotels and attractiveness for investors. targets it wanted to approach. after key committee members motels in Kalgoorlie-Boulder “The Goldfields remains the “I think Australia has some of threatened to do a “full were booked out. District Court best place to make that the premier hunting ground on monty-style” performance at the proceedings had to be called off investment — in spite of our the planet, and we think that in dinner. Scared by the promise of because they could not find a lacklustre political Australia land is really a huge what might be revealed, place to stay for the judge or the performance,” he said. asset,” he said. delegates coughed up the AngloGold chief executive of $597,000 towards the $21 million Australasia, Nigel Unwin, said construction, which was set to the big miner still had an open in October 2001. appetite for Australian Dave “Shorty” Ryan from companies but ruled out a Aggreko scooped the unofficial takeover bid for Normandy award for the best promotional Mining — for the time being at Looking Down Under: AngloGold stunt to follow on from the least. Long-time forum backer chief executive of Australasia Nigel previous year’s hit — the David Reed said South Africans Unwin cappuccino machine in his far outnumbered other offshore firm’s booth. His 2000 gimmick delegates, in contrast to the boom-time, to an essential was to bring big game fishing to previous years when North feature of the industry”. the Goldfields — or at least a Americans were more Delegates proved they knew virtual reality version of the prevalent. And with the strong how to dig deep for a cause, ocean pursuit. turnout, Mr Reed said the forum raising a staggering $597,000 in Mr Ryan spent about $15,000 had shrugged off doubts about 22 minutes for Kalgoorlie- on the arcade game with the Removalists Ian Atthowe and Rob Howard carry a mattress into the new its durability and “made the Boulder’s proposed Prospectors big-screen TV and life-size game and fully-booked Yelverton motel. transition from being a child of and Miner’s Hall of Fame. fishing rod. Diggers&Dealers 20-year anniversary edition 2001

MP gets We have instigated a process where we talk to all of our banks quite regularly and have very good relations and at message this stage don’t see any problems. Sons of Gwalia chief executive Mark Cutifani No pressure: Mark Cutifani. hile it is probably an speakers can attack politicians exaggeration to call but they don’t give us a chance process and we are working it a politician-free to respond, ” Mr Browning through that and restructuring Wzone, Diggers & thundered. as we go,” he said. Dealers organisers have always That said, new Labor Premier Mr Cutifani refused to reveal tried to control the access of Geoff Gallop was invited to the mark-to-market value of the MPs to the forum’s functions attend the main dinner, and currency hedge book but and festivities. escorted to his seat by the analysts predicted it could be as Ambitious new State Member hardhat-wearing Thomson and much as $650 million. for Kalgoorlie, Matt Birney, fell gave the keynote speech. Aggreko continued to be foul of the loose “no pollies” rule Rationalisation of the arguably the most popular and was promptly given his Australian gold industry was booth, thanks to the cappuccino marching orders by organiser put firmly on the agenda at the machine that first made its Graham Thomson. conference when two of the appearance two years earlier. When the Liberal MP pointed world’s biggest companies “On the first morning of Diggers out he was a delegate for the signalled they were ready to go you saw 500 Aggrekos running local Chamber of Commerce, Mr shopping. Second-ranked around the place,” resources Thomson bellowed: “I don’t Barrick Gold Co and fifth-placed You’re welcome: Graham Thomson escorts Geoff Gallop to his table at the manager David Ryan said. care, you’re a politician and Placer Dome were both keen to Diggers & Dealers dinner. Phil Crabb’s diamond hopeful you’re not welcome here. Get add to their Australian assets. Thundelarra Exploration also out.” Homestake Mining’s come, Sons of Gwalia’s under pressure. “It’s probably got plenty of attention with its Labor Federal candidate Paul Australian managing director out-of-the money hedge book like a few players, when the promise to part with a bottle of Browning was also peeved about Greg Lang said his group’s also came under focus, with exchange rate changed, or Grange for the person who could being excluded, pointing out the recent $4.7 billion merger with chief executive Mark Cutifani moved, we had more foreign come up with the closest guess forum’s admirable history of Barrick Gold gave it $US900 saying the Perth-based company exchange than we would have for the weight of a parcel of raw pollie bashing. “It’s outrageous million in corporate firepower. was in constant contact with its liked and we had discussions diamonds from some of its they have this dinner where In another shape of things to bankers and had not come with our banks as part of that Kimberley properties. Diggers&Dealers 17 20-year anniversary edition 2002 WESTBUSINESS

Exploring There’s an old saying around here that a bad day in key theme Kalgoorlie is a good day ptimism was returning corresponding impact it would to the mining sector have on the gold price due to a anywhere else. and more than 1000 weaker US dollar. delegates plus 100 “Gold is the ultimate reserve City of Kalgoorlie-Boulder chief O executive Ian Fletcher exhibitors descended on the currency, ” he said. Upbeat: Pierre Lassonde from Newmont Mining Corporation. conference. And with the nickel price With the gold price up on 2001 having enjoyed some rises in “A vibrant mining industry nightshift is known to result in and sitting just above recent months and the outlook needs an active exploration upset stomaches, headaches and $US300/oz, Newmont president for 2003 positive, attention also industry.” generalised fatigue. But there Pierre Lassonde set the tone on turned to nickel companies with Sandy Gray, a director of was some unusual and the first day when he predicted strong assets. A key conference Victorian equipment group unexpected gastrointestinal happy times ahead. Mr theme was exploration, with the Gekko Systems, summarised activity before the main dinner Lassonde tipped the price would point being made that even a some of the key reasons for so on Wednesday night, with be as high as $US350/oz range gold price of $US500/oz would many industry players making organisers receiving over 18 months as producers, not be much good to WA if there the journey from near and afar. confirmation that 16 delegates including Newmont, unwound were no new mines to exploit it. “At the end of the day it’s good to had fallen sick during the their hedge books. “We take our Diggers & Dealers chairman meet and know the guys who conference. role of number one in the Brian Hurley pointed to sign the cheques, ” Mr Gray A Health Department industry very seriously — we exploration expenditure having said. “All the cheque signers are investigation later found out 78 are always a leader, ” he said. been slashed more than 60 per here. It’s good fun, too. delegates became sick, but the Speaking almost six years cent over the five previous years Something always happens at source of the outbreak was not before the global financial crisis and warning of a danger that Diggers.” Late night boozing determined and a City of would rock financial markets, new ore bodies would not be and carousing (known in Kalgoorlie-Boulder official the charismatic French- discovered to replace ageing corporate parlance as wrote to the Palace Hotel, a Canadian said gold would also mines. “This great nation needs “networking”) are as much a long-time provider of food to the Golden future: Brian Hurley, Kate be boosted by the “dislocation” a growing and vibrant mining part of the forum as the formal event, giving an assurance its Stokes and Suzanne Morrin with in the US economy and the industry, ” Mr Hurley said. activities, but the unofficial food had been ruled out. some of the precious stuff.

Government of Western Australia Department of Mines and Petroleum

As West Australians we know how important the resources sector is to this State We know the importance of safety and that every person working in the resources sector should come home safely. We know that when a mine closes, the environment should be rehabilitated so that in time you may never even know a mine was there. And we know there are still untapped resources across this vast State of ours. The Department of Mines and Petroleum knows this too – which is why it plays a vital role in regulating safety and environmental standards across the industry. It is also why the State Government is providing more than $130 million in funding for the department’s Exploration Incentive Scheme to encourage investment in exploration across the State.

For more information about the department and these programs go to www.dmp.wa.gov.au Diggers&Dealers 20-year anniversary edition Las Vegas f A’s resources sector Skywest offers more had survived some dark years of falling Wmetal prices, dot.com fads and central bank than just scheduled gold sell downs. There was a sense that good times were coming again. flights Reflecting the resurgent confidence, organisers gave the conference a Las Vegas feel that included a replica sphinx and an operational mini-casino at the front of the big marquee in the Goldfields Arts Centre car park. Coordinator Graham Thomson said the vibe was more upbeat than it had been in Gold prophet: Robert Friedland Ke a long time, with attendance approaching 1100 delegates. $US389/oz in February and had “The whole attitude of people settled just back in the mid-300s. was the best it has been for the So gold pundits hung onto Mr past four or five years,” he said. Lassonde’s every word at Diggers is all about making an Diggers in 2003 as he forecast W impression and Canada’s Robert the bullion price could reach Friedland, the world’s richest $US450/ozwithin a year. o prospector and discoverer of the “We continue to be very, very Voisey’s Bay nickel project, did bullish on the US dollar gold d just that when he jetted into the price, ” he said. Goldfields on the Sunday before With four years still to go to co Corporate and Group Travel the conference. Those who the global financial crisis, he He Skywest offers discounts for frequent corporate and group travel on the touched down subsequently stuck by his gloomy outlook for ha couldn’t help but notice Mr the US and its greenback. “The Skywest Network. Skywest can tailor a corporate sales solution or group Friedland’s impressive fact is the US cannot afford to booking to specifically suit the needs of your company or organisation. Gulfstream jet, parked on the have a $US550 billion ($843 Da Email [email protected] or [email protected] tarmac at Kalgoorlie airport. billion) deficit year in, year out. To As they say: If you’ve got it, It is unsustainable,” he said. bo for more information. flaunt it. But arguably a bigger Industry veteran Joshua Pitt Re impression was made by had wasted no time putting his ra another visiting Canadian, name to two new mining a s Charter Services Newmont Mining boss Pierre ventures after the recent $150 Ra Skywest can provide regular and ad-hoc charter services for organisations with Lassonde. million takeover of his company At the 2002 conference, when Dalrymple Resources by am fly-in-fly-out requirements, servicing destinations and flight schedules to the the price had only just managed LionOre Mining International. specific needs of each business. to poke its head above And there is no better place to In Email [email protected] for more information. $US300/oz after years in the start promoting new floats than a n doldrums, Mr Lassonde boldly among the movers and shakers Lo predicted that it was “only at at the annual mining conference W Holiday Packages the beginning of a gold bull in Kalgoorlie. Ch market”. That year, he said, he Mr Pitt, who listed the Golden Skywest Holidays offers competitive holiday packages in Western Australia, was “fully confident we will see Grove polymetallic discovery the Northern Territory, and Melbourne. Skywest Holidays packages combine $US350/oz sometime in the next among his mining accommodation, car hire or tours and activities with Skywest flights. 18 to 24 months but we’ll achievements, was looking to possibly see much higher raise more than $10 million for Email [email protected] for more information. prices”. Some saw his prediction Red Metal, a float of the as overly optimistic, but less Australian exploration interests than six months later the gold of major US copper producer Sports and Events Packages price hit $US350/oz, peaked at Phelps Dodge. He and his Skywest Sports and Skywest Events offer individuals and small or large groups all-inclusive sports and event packages within Western Australia and Melbourne for sports such as AFL, cricket or horse racing and events such as concerts, festivals or musicals. Email [email protected] or [email protected] for more information.

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1300 66 00 88 | www.skywest.com.au Your State. Your Airline. High score: Geoff Lowdon gets in some cricket practice on the pre-conference flight to Kalgoorlie-Boulder. 19 2003 WESTBUSINESS s feel as good times head back

Glistering glee: Andrew Forrest with the gold bar Key players: Ross Ashton, Chris Bonwick, Peter Tomsett, Kate Stokes and David Reed from Siberia Mining’s first pour the following year. d and Goldfields explorer Siberia true believers but pooh-poohed 0s. Mining. In the heat of Diggers, by many sceptics in the media, Mr shares in the gold play surged investment community and after Mr Forrest unveiled a deal rival mining outfits. When we first started going, it was full with Placer Dome for the He would turn out to be right Forrest company to take over and he, not Mr Bonwick, would of hype and people were saying and the international giant’s Lady go on to create Australia’s next y Ida and Sand Queen prospects, great mining house in doing outrageous things. You’ve got to about 70km north of Kalgoorlie. Fortescue. “We don’t have any crocodiles Mr Forrest had realised the come across professionally these days. in the creek like we did at massive export potential to the Heron Resources managing director Ian Buchhorn, whose firm has Murrin Murrin, ” Mr Forrest growing Chinese economy and r had an exhibition booth at Diggers since 1997 said, addressing the technical its demand for natural e In step: The forum logo. difficulties that plagued the resources, including Fortescue’s laterite nickel project. “The then-stranded iron ore deposits.. Dalrymple partner Neil turn his outfit into the next Bonwick’s presentation: “Chris, resources are in close proximity In a sign that Diggers was t. Tomkinson were also on the great Australian mining house. it’s good to see mining to gold processing plants with moving with the times, oil and board of float hopeful Traka Independence Gold shares promoters haven’t left us excess capacity, existing gas giant Woodside Petroleum t Resources, which was looking to had been going well in 2003, altogether.” infrastructure, gold processing was named Digger of the Year s raise up to $4 million to explore having increased from 31¢ to Spot on, Mr Reed. Not only did mills and haul roads. This for its China LNG contracts, the a swag of tenements in the above 45¢ at Diggers time in they have Mr Friedland at means the resources will be fourth production train upgrade Ravensthorpe area. August. But according to Mr Diggers, the man who would promptly developed.” of the North West Shelf and its ny There was some swagger Bonwick, it was far from too late arguably become the greatest Investors also had a hint of Mr commitment to exploration, among the promoters again. to get on board and he showed a mining promoter of the decade Forrest’s grand vision for the development and marketing. . Despite its name, graph with Independence shares was also there. Pilbara. It was the first time an oil and to Independence Gold had become rising to $10. Andrew Forrest was back — The future billionaire had gas company had been n a nickel miner after buying the Session coordinator David two years after being run out of outlined plans to become the recognised at the mostly hard s Long mine in Kambalda from Reed, a man who had watched Anaconda Nickel — applying “third force” in iron ore with a rock-focused conference. ce WMC and its chief executive the sector through many rises his silver tongue to iron ore $1.2 billion railway and port The resources sector was Chris Bonwick unveiled plans to and falls, said at the end of Mr hopeful Fortescue Metals Group plan, which was backed by his clearly heading into a new era. en

r ts Limited Diggers&Dealers 20 20-year anniversary edition 2004 WESTBUSINESS

China seen It is an excuse for a booze-up and a meeting of the as big hope blokes but he Robert Friedland Australian miners, some in the everyone is very juggernaut again blasted industry still had the distinct into Kalgoorlie on his feeling our politicians were not serious now. Gulfstream jet and doing enough to encourage T Questa Casa brothel owner predicted boom times ahead for exploration. mineral commodities. Diggers & Dealers chairman Carmel Galvin on Hay Street’s The dapper American, head of Brian Hurley repeated calls for flagging trade Class: Captain Rex Majnarich inside Robert Friedland’s private jet. Canadian miner Ivanhoe Mines all mining companies to stop and the discoverer of the political donations until more through the newspapers, I’m under diminishing reserves and massive Voisey’s Bay nickel was done for the industry. surprised they do.” a chronically ill hedge book. deposit, was quick to dismiss “Between Native Title, the With a record 1300 delegates But showing the admirable the “greatly exaggerated” conservation mafia and the in Kalgoorlie-Boulder for the initiative that makes WA’s reports of China’s government heritage nazis, it has become a forum, the city’s hotels and mining industry great, the Sons putting on the brakes to take the veritable quagmire to get on the restaurants were doing their of Gwalia crew used a Diggers heat out of its runaway economy. ground and do anything,” Mr customary brisk trade. pitch based on the strong nickel Finalising plans for a copper Hurley said. But Kalgoorlie’s Hay Street sector. New Gwalia chief John mine in Mongolia, Mr Friedland Exploration legend Roy brothels were deserted, and the Leevers said the company had said China would have a Woodall said the Federal madams were blaming skimpy begun reviewing the nickel massive demand for metals Government had ignored barmaids and adventurous potential of its holdings around including copper, nickel and introducing exploration wives and girlfriends. It will Southern Cross and Leonora. platinum. “It’s very clear to our incentives, such as flow-through come as little surprise to many “We’re in serious discussion view that the Australian shares, because “they did not that the madams were pointing with a number of parties,” Mr industry will participate in know the benefits”. the finger at the skimpies who, Leevers said. Less than six another 30-year to 40-year super Resources Minister Ian by all accounts, were even weeks later, he fronted the cycle driven by China,” he said. MacFarlane hit back, labelling skimpier than usual. media to reveal that Gwalia had While booming China was the attacks as a cheap shot: “I Also struggling was gold and gone into administration with Exploration incentive call: delivering opportunities for don’t conduct policy discussions tantalum miner Sons of Gwalia debts exceeding $700 million. Roy Woodall.

Diggers&Dealers 20-year anniversary edition 2005 Boom-time buyers beware oom times were here 255km railway from Port again — and more than Hedland to its Cloudbreak 1300 delegates descended deposit, but the availability of Bon the Goldfields Arts labour could determine whether Centre to hear and sell stories of Our mines cannot a 2008 start was more realistic. opportunity. “It is the major determinant of Miners outnumbered operate as islands that timetable, ” Mr Forrest said. financiers and bankers, who had Broking firm Tolhurst Noall to fight harder to get deals. of affluence in a has provided the proof that the LionOre Mining chief hefty cost of getting a contingent operating officer Glenn Jardine sea of despair. to present on stage at Diggers said small to medium sized was worth every cent for companies were finding it easier Bruce Harvey, Rio Tinto’s chief corporates wanting to spruik to finance projects, reducing the adviser on Aboriginal and their wares. need for them to seek backing community relations According to some number from bankers. “They are not crunching by the firm, the share looking for deals as much at the the seemingly cursed prices of the Australian-listed moment,” Mr Jardine said. Windimurra vanadium project. companies that presented at Presenters, most of whom Six junior miners took to the Roderick Smith Buoyant forecast: ConsMin’s Michael Kiernan. Diggers went up an average of 6 talked about projects that were stage as part of the Duelling Drill per cent during the conference. about to go into production, were Rigs in which companies were company’s ore. Mr Kiernan, Yet the boom in Chinese That meant a tidy $8.4 billion offering prospects that had been given 15 minutes each to promote whose company also supplied demand and in project was added to their combined developed in and around existing their business. Consolidated manganese and chromite, development was starting to market values during the gabfest mines or on ground that had Minerals chief Michael Kiernan predicted the market would create problems. — including a hefty $6.4 billion, already been explored or mined. said BHP Billiton had a much remain buoyant because of a Fortescue Metals Group boss or 8.5 per cent, rise for BHP However, explorers still faced better relationship with junior second wave of demand from Andrew Forrest revealed WA’s Billiton. difficulties raising capital to miners than did long-time nickel China, as hundreds of millions of critical labour shortage could be But also a word of warning carry on with their greenfields major WMC, which was recently people left rural areas of the the biggest obstacle to his from the broker to investors: Be exploratory efforts. been taken over by BHP. Asian country to take up company meeting a tight wary of picking up After copping a bruising at the Like other junior nickel opportunities in the city. schedule for its $2 billion-plus post-conference buy hands of Danny Hill and Swiss miners in the Goldfields, “That will create significant Pilbara iron ore venture. recommendations. “As the predator Xstrata, veteran ConsMin had an agreement with demand once again for steel, The emerging iron ore Kalgoorlie pubs empty out, so promoter Roderick Smith was BHP Billiton’s Kambalda nickel nickel and copper, ” Mr Kiernan company was working on a does the hype,” Tollhurst Noall back spruiking plans to revive concentrator to treat the said. 24-month schedule to build a said. Diggers&Dealers 21 20-year anniversary edition 2006 WESTBUSINESS

Takeover Great geologists do great work, work hard and when they find talk in air something they akeover talk was all the Aztec chairman Ian Burston jump up and down rage as the resources was eager to show he was ready on my desk to let boom entered its third to fight to get the best deal for Tyear. shareholders in the wake of a me know. Canadian giant Teck Cominco takeover bid from Mt Gibson Teck Cominco president Don put Australia’s best Iron. Lindsay Special opening: Bill Hicks outside his Australia Hotel. up-and-coming miners on notice He donned a giant pair of they were on a hit list of likely Aztec-emblazoned boxing gloves Diggers. Bill Hicks, who bought targets in the event its $23 that had been sent to him by $US630/oz for a while, but it the historic pub on the corner of billion takeover bid for nickel “some villain”. would eventually settle back to Hannan and Maritana streets in producer Inco failed. Gold was also a hot topic after around $US475/oz. New 1970, put the hotel on the market President Don Lindsay told rallying beyond $US600/oz. Newcrest Mining boss chief Ian in 2004 but decided to reopen it the forum his company had a Reflecting on Diggers themes Smith was more gung ho, saying to offer special events long list of alternative targets over the past decade about a that it was possible the gold accommodation. ready and waiting. shortfall in greenfields price could reach $US1000/oz in There had been talk in recent Mr Lindsay, having attended exploration in Australia, one of the long term. “That is within years about nocturnal activities eight of the previous 10 Diggers, the world’s biggest gold miners the realm of possibility, ” Mr at Diggers becoming less bawdy, said the forum gave him a told delegates that a dearth of Smith said. It turned out he was but delegates at the Palace Hotel chance to catch up with people new major gold discoveries right. Gold never went back got a reminder that the old and learn what companies were would help keep the bullion below $US560/oz and it would Veteran: Don Lindsay, Goldfields heart still beats when up to. “You never know when a price up. take just 18 months to nudge a trio of skimpies removed their joint venture might come up and Gold Fields executive vice beyond $US1000/oz and a global attending. The Goldfields Camp tops. if the project is right, you want president Terence Goodlace said financial crisis to keep it School threw open its doors to They were able to overcome them to choose you,” he said. the discovery drought, seemingly permanently up house some of the people the usual liquor licensing There was talk of combined with jewellery and there. For the 2006 forum, involved behind the scenes and conditions that barred such consolidation among WA’s investment demand, would help accommodation was at a the 108-year-old Australia Hotel displays thanks to the pub’s emerging iron ore players, and keep the precious metal around premium with 1500 delegates got a new lease of life thanks to cabaret licence. BEGIN.WHERE CAREERS

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(5@9BHGCIF7=B;65FF=7?7CA Diggers&Dealers 22 20-year anniversary edition 2007 WESTBUSINESS Battle spills over hose pesky market regulators seemed to have put a stop to Theadline- grabbing news being announced I always look from a mergers and at Diggers, with most presentations sent to the stock acquisitions point of view like a little exchange before being delivered to delegates. piranha. Monarch Gold chairman Michael Kiernan It was left to the human headlines of Michael Kiernan, Pierre Lassonde and Andrew Territory’s proposed $1 billion Mr Lassonde, the Newmont Forrest to provide the few sound bid for ConsMin, something he Mining chairman who had Comic moment: The anonymous cartoon doing the rounds over the bites to emerge from the did a month later. predicted America’s emerging Consolidated Minerals battle. three-day talkfest. Mr Forrest signalled he was debt woes, said gold’s time was A battle between Territory not looking to cash in his $3.2 coming and predicted it could the historic Lockheed Super years, handing over to industry Resources boss Mr Kiernan and billion stake in Fortescue reach $US1000/oz. He pointed to Constellation aeroplane veteran Barry Eldridge. former BHP-Billiton supremo Metals Group, and rejected parallels with the bullion bull “Connie” flew in for Diggers. Mr Hurley said his last Brian Gilbertson for control of suggestions his holding of 36.5 market that lasted from 1966 to Registered in 1956, Connie conference, with a record Mr Kiernan’s old play per cent in the iron ore project 1980. was one of only three of the attendance of 1700 delegates, Consolidated Minerals spilled developer would hinder its “This bull market will last a historic Lockheeds in Australia. had a very upbeat mood. over to the forum. An growth prospects. To the full generation — that’s 20 years, Carrying 29 passengers, the “I’m going out on a real high,” anonymously penned cartoon contrary, the paper billionaire ” he said after being given the former US military aircraft he said. was handed to media types argued, dominant shareholders GJ Stokes Memorial Award for brought mining chief executive Mr Eldridge said organisers showing Consolidated Minerals could foster growth. services to the industry. officers from a number of would try to continually managing director Rod Baxter “We can keep the register “In my mind the two Australia’s biggest mining improve the revered event. “It providing an armchair for Mr stable and keep the dream alive commodities that will perform corporations, including CBH had a good feel about it and that Gilberston, and chairman Dick for all of those people who’ve best in this cycle are the same Resources, Direct Nickel and probably reflects the health of Carter serving the drinks. Mr joined us believing that they are ones that did the best in the Nautilus Minerals, as well as the resource industry,” he said. Kiernan denied he or his going to play a critical part in 1970s and that’s oil and gold.” Sydney Mining Club personnel “People think this retinue were behind the stunt. the future independence of a Fortescue was named dealer and media representatives. commodities boom is a He then surprised observers by major Australian (company),” of the year. Forum chairman Brian paradigm shift and they are threatening at Diggers to shelve Mr Forrest said. For the third year running, Hurley stepped down after seven feeling bullish about things.”

Diggers&Dealers 20-year anniversary edition 2008

Stock rout The equities market is difficult at the moment so on day one people no doubt he clouds were well and least some bullion price rises, at want to know truly gathering thanks to the end of the rainbow. Gold the unravelling of industry watchers felt the what’s going on. complex debt six-year-old prophecies of T Commonwealth Bank WA instruments in America. Share Newmont Mining sage Pierre prices had fallen and diggers Lassonde about US’s mounting general manager Wayne and dealers alike were getting debt problems, the erosion of the Zechalich Bullish: Howard Balloch. Dealers’ winner: Kerry Harmanis. nervous even before descending greenback and the resurgence of on Kalgoorlie-Boulder for the gold were all coming true. Howard Balloch, an his company could maintain Harmanis, who signed a $3.1 conference. Lihir Gold general manager of investment banker and former annual growth of 8.6 per cent for billion deal for Xstrata to take The usual hangovers were corporate development Graham Canadian ambassador to China, 14 years and was pushing to over his Jubilee Mines in made worse by a sharemarket Folland echoed forecasts that said the Middle Kingdom was a produce 320 million tonnes of October 2007 — just before the rout on the opening day of gold would break US$1000/oz “Superman in a Supercycle” iron ore by 2012, almost double bottom started falling out of the Diggers & Dealers. before year’s end or early in 2009 and Australia was well-placed to its 2007 production. share market. The woes seemed to put a and pointed to the interesting meet its “super” demands. By early 2009, the BHP St Barbara Mines boss Ed serious dent in the confidence times ahead. “Some weird Mr Balloch, a member of the takeover would be seen off but Eshuys was supposed to have and joviality of the 1700 things are going on in the world World Economic Forum’s the debt-ladened Rio would also presented on the opening day of delegates, with Kalgoorlie’s and it wouldn’t blow me away if council on the future of metals be laying off staff, closing two of Diggers but got the pundits pubs nowhere near as buzzing it happened, maybe before the and mining, said Chinese its iron ore mines and cutting guessing when he was a late as they were the year before. middle of next year, ” Mr domestic demand would back on capital expenditure withdrawal. As one small-stock promoter Folland said. continue to drive infrastructure programs in the face of falling Amid a falling share price, Mr mumbled: “If you don’t have And there was a feeling there and urbanisation, and therefore metals prices. Eshuys was under pressure cash now, you are in trouble, was still plenty of growth to the need for natural resources. China would still grow long after a disastrous $120 million because capital raisings just come in the new economic “The supercycle will not end,” term, but short term there was right issues and within weeks aren’t going to happen any frontier of China, despite fears he said. plenty of pain to be endured. would reveal he had been forced more.” of a downturn in America and Facing a hostile takeover bid Timing is everything in to sell down his stake to meet But we can never forget that the potential knock-on effect to from BHP Billiton, Rio Tinto business and the dealers award margin calls. there is always some gold, or at global confidence. Iron Ore chief Sam Walsh said for 2008 went to Kerry We lived in interesting times. Diggers&Dealers 23 20-year anniversary edition 2009 WESTBUSINESS Reassurance in short supply f resource industry players were hoping for optimism after a tough year, they Iwould have been disappointed with the keynote This year the mid to small caps can get speaker. Nouriel Roubini, the New cash from the stockmarket and that’s York economist who famously predicted the global financial evident in the booze being consumed at crisis, warned Australia’s mining industry the recovery in the bar. Resources journalist Matt Chambers commodity prices would be “bumpy and volatile” and could falter towards the year’s end. into a tailspin that ended in mining was a dangerous Professor Roubini, nicknamed March 2009. By the time of the business. Dr Doom for his pessimistic August conference, the BHP Billiton iron ore worldwide economic outlook, Australian sharemarket was president Ian Ashby labelled the Close up: The returned nuggets with Barrick Gold’s Nick Cernotta and said he saw some potential light recovering and had enjoyed a company’s safety record Det-Sen. Sgt Dom Blackshaw. at the end of the tunnel. month of solid gains. “abysmal” after five people died “It’s not going to be a linear Heron Resources managing at the group’s WA operations in lifting operations, working at The Gold Stealing Detection recovery,” Dr Doom said. “The director Mathew Longworth nine months and the mining heights, and electrical.. Unit used Diggers to return two road ahead for commodity said the 2009 forum was giant came under close scrutiny “If these risks are not gold nuggets, weighing 343g and prices is going to be bumpy and certainly more upbeat. from the State Government. properly controlled, they will 295g, which were stolen from volatile but the trend should be Mirabela Nickel managing Mr Ashby warned that kill — we’ve had that Barrick Gold’s Darlot operation towards higher prices but with director Nick Poll said it had complacency, driven by experience, unfortunately,” Mr in 2008. the risk of correction if there been a tough year, especially for arrogance, had crept into all Ashby said. On the operational The returned nuggets were are negative surprises on the his sector. “The quality players levels of Australia’s workforce front, he was quietly confident evidence in District Court pace of recovery, especially in have survived and I think we’re and said “some of that is quite after a tough year, saying iron proceedings. more advanced economies.” hearing a lot of good things from manifest in the Pilbara”. It had ore sales were stable and the “We thought Diggers & Despite this, the mood of the them,” Mr Poll said. In addition implemented a new risk long-term fundamentals of the Dealers was the perfect conference seemed to be better to the mixed messages about the management plan addressing market were strong, opportunity to give the nuggets than the year before when fiscal outlook, the conference issues including mixing heavy particularly with Chinese back to Barrick, ” gold squad financial markets were heading also received a reminder that and light vehicles, isolation, growth and economic stimulus. boss Dom Blackshaw said. Diggers&Dealers 24 20-year anniversary edition 2010 WESTBUSINESS Mining tax raises heat he rather rubbery who had claimed the MRRT no-politicians edict for would make it impossible to Diggers & Dealers was secure finance for billions of Trelaxed to allow Federal dollars for Fortescue Metals Opposition high-flyer Julie Group projects, offered a gift of Bishop to mingle with the 2200 Fortescue shares to the delegate Chatting: Julie Bishop and Peter Muccilli. Gripes of wrath: Forum chairman Barry Eldridge. delegates inside the giant who could come up with the best marquee in the Goldfields Arts anti-tax slogan using the MRRT across Australia should pay for Centre carpark. After all, a acronym. the roads, hospitals, schools, Federal election was less than GE Capital’s Justin Van Anst police and other services needed three weeks away and the won the $5000 prize for his entry: by mining projects. “These big Liberals and parts of the mining Monster Rort Rushed Through. This is our inheritance and the miners say they deserve it sector were mounting a rearguard The six runner-up slogans were because they work hard — they action against Prime Minister Marxist Revenue Reduction inheritance for our children and their mean we work hard for them to Julia Gillard’s proposed minerals Theory; Mining’s Road to Ruin take the profits home,” he said. resource rent tax (MRRT). Tax; Massive Regional children – it should not be squandered. For the record, Labor kind of That tax was devised with Redundancies Tax; Making Ecology, Social Justice and Aboriginal Party candidate Geoff Stokes won the election, got its MRRT mining giants Rio Tinto, BHP Resources Revenue Temporary; through Federal Parliament but Billiton and Xstrata after Ms Marking Recovery into Recession Fortescue still managed to raise Gillard deposed Kevin Rudd in Tax; and Modern Robinhood consider that the more extreme way in the Kalgoorlie Miner’s billions for its expansion ahead of the face of a widespread industry Robbery Technique. portions of the initial proposal famous street vox pops: “All the the tax coming into effect last campaign against his broader Diggers chairman Barry may well be reintroduced if these fat cats in their fine suits month. A notable absentee in 2010 mining super profits tax. Eldridge used his opening people are re-elected, ” he said. spruiking their Liberal views… was veteran Mark Ashley, who Never one to let a chance go by, address to describe the MRRT as Their views clearly did not have just front up and pay big taxes was trying to wrap up a capital Ms Bishop said she was at economic terrorism and broke unanimous support outside the like the rest of us.” raising that could provide his Diggers to listen and show her with tradition by urging all confines of the arts centre, with a And Ecology, Social Justice and Apex Minerals a lifeline to turn “support to the sector”. delegates to vote Liberal. bloke named Mick Lewis Aboriginal Party candidate Geoff around its struggling Wiluna gold Billionaire Andrew Forrest, “It is not unreasonable to summarising proceedings this Stokes questioned why taxpayers mine. Diggers&Dealers 20-year anniversary edition 2011 Ill will boils over he hostility between the Federal Government and big chunks of the Tresources industry spilled over again into Diggers Can we trust the Prime Minister? & Dealers. Julia Gillard’s proposed Absolutely not. carbon tax had added to the Silver Lake Resources managing director Les Davis ill-will built up in 2010 when the Prime Minister and her ousted predecessor Kevin Rudd moved next period with the influence miners, money-men and media Carbon tax critic: Todd Buchholz during his keynote address. to impose extra costs with the that this extreme balance of fed and watered over the Mining Super Profits Tax and power may have on our industry, three-day event, as well as criticisms had come as a Long-serving and the subsequent Minerals with the Government having to looking after the major “complete surprise”. highly-respected mining Resource Rent Tax. allow the Greens to punch well functions each night. “We’ve never had any executive George Jones was Gone was any pretence of above their political pedigree.” At the WesTrac gala dinner, indication (before now) from recognised with the prestigious Diggers being a politics-free American economic delegates went through 9000 our joint venture partners or GJ Stokes Memorial Award. zone, with chairman Barry commentator and former White pastries, 450kg of lamb, 5000 anyone that we run unsafe Mr Jones was rewarded for a Eldridge blasting Labor’s House adviser Todd Buccholz prawns and 1500 scallops. operations, ” Mr Johns said. remarkable career and his alliance with the Greens and warned the carbon tax was Earlier in the conference, “We can see no factual basis for leadership in retaking the helm repeating then Woodside likely to drive mining Alacer chief executive Edward any of these claims.” of Sundance Resources after the Petroleum chief Don Voelte’s investment offshore, saying a Dowling injected some extra With 2250 delegates expected air crash tragedy the previous suggestion that Treasurer carbon tax and environment controversy into proceedings by for the conference, year took the lives of Sundance Wayne Swan just “does not get standards imposed in California using his presentation to raise accommodation was again at a directors and part of the it”. “The extreme idealistic but drove jobs out of that state. “I what he said were serious premium and the bumper company’s management team. frankly superficial policies that don’t quite understand the concerns about safety at the crowds left the city’s “Recognition of achievement now have political substance motivation,” he said Frog’s Leg joint venture. He accommodation stretched to is properly due to individuals while we have a hung Despite apparently being suggested partner La Mancha breaking point. Businessman who can demonstrate corporate Parliament have to be one of the under-loved and under siege, the was developing the mine too Ashok Parekh reopened the success on multiple occasions, most worrying long-term issues industry could still manage to quickly and not spending where Australia Hotel, recently bought show active leadership and Australia and the resources party in style. A crack team of it should. from the Hicks family, in time contribute to the community sector has faced,” Mr Eldridge chefs and caterers from Perth La Mancha Australia general for Diggers and the hotel’s 32 generally, ” Kate Stokes, wife of said. “Heaven help us in the was brought up to keep the manager Rod Johns said the rooms were all taken. the late Geoffrey Stokes, said. Diggers&Dealers The programme 25 20-year anniversary edition WESTBUSINESS Monday August 6 Tuesday August 7 Wednesday August 8 9:00 am Welcome by forum chairman Barry Eldridge 8.30am Ivanhoe Australia: Mike Spreadborough, COO 9:00 am Fortescue Metals Group: Nev Power, exec. dir. 9:15 am Keynote address: Rodrigo de Rato 9:00 am Integra Mining: Christopher Cairns, MD 9:30 am Troy Resources: Paul Benson, MD & CEO 10:15am Morning tea 9:25 am Independence Group: Chris Bonwick, MD 9:55 am Western Areas: Dan Lougher, MD 10:45am Cliffs Natural Resources: Joseph Carrabba, president 9:50am Reed Resources: Luke Tonkin, MD 10:20 am Morning tea 11:15am Doray Minerals: Allan Kelly, MD 10:15 am Kingsgate Consolidated: Gavin Thomas, MD and CEO 10:50 am Gold Fields Australia: Timothy Gilbert, VP 11:40am Hot Chili: Christian Easterday, MD 10:40 am Morning tea 11:15 am Endeavour Mining: Mark Connelly, exec. dir., COO 12:05pm Lunch break 11:05 am Centaurus Metals: Darren Gordon, MD 11:40 am BC Iron: Mike Young, MD 1:00pm Newmont Asia Pacific: Jeff Huspeni, senior VP 11:20 am Focus Minerals: Campbell Baird, CEO 12:05 pm Lunch Break 1:30pm Sandfire Resources: Karl Simich, CEO and MD 11:35 am Trafford Resources: Ian Finch, MD 12:40 pm AngloGold Ashanti: Mark Cutifani, CEO 1:55pm Silver Wheaton: Neil Burns, VP technical services 11:50 pm ABM Resources: Darren Holden, MD 1:10 pm Ampella Mining: Paul Kitto, MD & CEO 2:20pm Beadell Resources: Peter Bowler, MD 12:05 pm Cobar Consolidated Resources: Ian Lawrence, MD 1:35 pm Northern Star Resources: Bill Beament, MD 2:45pm Afternoon tea 12:20 pm Lunch break 2:00 pm Atlas Iron Limited: Ken Brinsden, MD 3:15pm Nautilus Minerals: Steve Rogers, CEO 1:20 pm Barrick (Australia Pacific): Mike Feehan, reg. pres. 2:25 pm Afternoon tea in the forecourt 3.40pm Mincor Resources: David Moore, CEO and MD 1:50 pm Bathurst Resources: Hamish Bohannan, MD 2:50 pm Newcrest Mining: Colin Moorhead, GM, minerals 4:05pm Evolution Mining: Jake Klein, executive chairman 2:15 pm Silver Lake Resources: Les Davis, MD 3:20 pm MacPhersons Resources: Morrie Goodz, MD 4:30 pm Gold Road Resources: Ian Murray, executive chairman 2:40 pm Afternoon tea 3:45 pm Alacer Gold: David Quinlivan, Pres. & CEO 4.45pm Iron Ore Holdings: Alwyn Forster, MD 3:10 pm Saracen Mineral: Guido Staltari, exec. chairman 6:30 pm The WesTrac Gala Dinner — Sponsors’ marquee to 12am 5:00pm Kasbah Resources: Wayne Bramwell, MD 3:35 pm Intrepid Mines: Bradley Gordon, CEO 5:15pm Ventnor Resources: Bruce Maluish, MD 4:00 pm Panoramic Resources: Peter Harold, MD 5:30pm The Nex Metals Explorations cocktail party — 4:25 pm OceanaGold: Mick Wilkes, CEO & MD to 8:30 Sponsors’ marquee 4.50pm Ramelius Resources: Ian Gordon, MD 5.30pm The Runge traditional bash — Sponsors’ marquee SOURCE: Diggers & Dealers website to 8.30 http://www.diggersndealers.com.au Ultimate diggers: The Kalgoorlie Super Pit.

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To find out more, contact the Centre for Customised Solutions today on 9383 8028 or visit www.aimwa.com Diggers&Dealers 27 20-year anniversary edition WESTBUSINESS Australasia’s leaders in investor and media relations www.ppr.com.au Flying Fun start to times new life for all

■ Warren Gilman ■ Ashok Parekh

My first trip to Kalgoorlie was in 1997. CIBC Much later: Diggers chairman Warren Gilman I owned the Exchange Hotel for 13 Back then: Ashok Parekh outside the was considering acquiring Eyres Reed and, takes in the groundbreaking 3D presentation years, which I sold four years ago in Exchange Hotel in 1999. He sold the pub since Eyres Reed was the only broker with a by Focus Minerals in 2010. 2008, and have owned the Palace Hotel in 2008 but still owns the Palace. branch office in Kal, it was a natural spot for the past eight years. The Palace is for some due diligence combined with preparation adopted by the analyst in our the centre of the social life at the rewarded with a carton of beer. He did intelligence gathering. party involved an all-night bender which Diggers as it was previously owned by not realise the suit was a “polyester” I was based in Toronto at the time and a officially terminated with my arrival at the Stokes Family which owns and one and had to ask all of the smokers commute from Toronto to Kal back then was Perth Airport that morning. runs Diggers and Dealers. at Diggers to stay away from him in an exercise in patience and stamina. Unfortunately for my new analyst friend, Over the years I have spent a lot of case his suit caught fire. The most efficient itinerary involved a the flight to Kal was unusually turbulent time with the delegates socially. The funniest bloke I have ever met 30-hour journey and 12-hour time difference and this, given the rather small plane, I have had great times also with at these events who would have all of from Toronto to Anchorage to Sydney to ensured whatever stomach contents my new many people in the media including us in stitches of laughter was Mark Perth to Kal. So when I landed at Perth colleague had upon boarding the flight, he Peter Klinger, Barry Fitzgerald, Ian Ashley ex-Apex. Airport at 6am I expected to be a little worse most certainly deplaned without. Howarth and many others. One delegate who was staying at a for wear on our brief hop from Perth to Kal. We celebrated our arrival at the drill rig Two years ago I was asked by the house went home less than sober and I was met at the airport by David Reed, with beers for breakfast and WA in turn staff of the Palace to contact a delegate went to the fridge and grabbed a beer, chairman of his eponymous firm, and a welcomed our arrival with a light snowfall who left something behind in a room. stripped down to his underwear and highly-regarded research analyst. David in the desert which ensured that our liquid When I arrived at the hotel I was proceeded to watch TV. had engaged a small charter to take us to a breakfast remained chilled. presented with a glass which had false A woman came out and demanded couple of drill sites along the way to Kal and In contrast to my eventful arrival in the teeth in it, which the delegate had to know what he was doing in her then attend the 6th annual Diggers & Goldfields, my ensuing Diggers experience forgotten. I had to ring him up to come home. Wrong house. Dealers conference. and indeed all 14 of my subsequent and collect them. Thommo, the organiser of Diggers Of course I had heard all the stories participations at Diggers since, have been Several years ago the president of and Dealers told me that in 2003, after around the infamous Diggers and was highly professional and entirely enjoyable Newmont Mining, Pierre Lassonde, the first night at Diggers & Dealers, looking forward to what I expected to be a affairs. This is a testament to the dedication the key speaker, arrived in Kalgoorlie the chairman David Reed on the unique professional and cultural and commitment of the Diggers team with no luggage, which Qantas had second day announced before the experience. I had been warned that the pace comprised of the owners, organisers, lost. session that the delegate who could be quite challenging and that I should management, sponsors, volunteers and the It was a Sunday and no shops were proposed to the barmaid at the Palace conserve my strength for the marathon Kalgoorlie and Boulder communities open, so a local Bill Cavazzi who owns Hotel the previous night should come sessions that lay ahead. themselves who all pitch in every year to a menswear shop was called in and and see him during the tea break so I needn’t have worried. The training and stage the world’s best mining conference. organised a suit for him, and was they could organise the wedding.

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