Who Won Kitco's Mining CEO of The Year? The Votes are In
Editor's Note: View Kitco News' full 2018 outlook coverage
(Kitco News) - Kitco News brought back a fan favorite this year in an effort to give YOU, our dedicated readers, a voice!
After a few weeks of voting, we have finally tallied up the results to unveil who our readers and viewers think merits the title of CEO of 2017. After sifting through thousands of responses, and the names of over 100 CEOs you submitted, we have tallied your choice for the mining world’s top commander-in-chief.
For the second year in a row, Kitco readers voted for Rob McEwen â€“ CEO, McEwen Mining (TSE, NYSE: MUX).
McEwen has been behind some of the biggest mining companies in the industry. First founding Goldcorp in the ‘90s â€“transforming the company from a collection of small companies into a mining powerhouse.
David Erfle, founder of juniorminerjunky.com and a mining stock expert said he was not surprised by the selection of McEwen.
“He is very popular in the space for different reasons. He has aligned himself with shareholders more than any other CEO in the sector as he owns 24% of the company and collects no salary,” he said. “Mr. McEwen is also very vocal about not selling forward future production or diluting the company's projects with streams or royalties. These factors have made him very well respected among retail PM sector investors.”
Our readers who voted noting that he is “an exemplary CEO,” while one voter said, “He wrote the blueprint for how to properly lead a company.” Another noted, “He is successful and shares his money, a true philanthropist.”
McEwen has donated in excess of $60 million, some of which went to the McEwen Centre for Regenerative Medicine at the Toronto General Hospital and to Toronto’s Schulich School of Business,
Here’s a snapshot of McEwen Mining in 2017:
Although the share price was down 23% in 2017, the company was focused on growing and expanding.
Key milestones includes the purchase of the Black Fox mine in Timmins, Canada, which was finalized in August. And in early November, McEwen mining received all the permits required to start construction on its Gold Bar project in Nevada.
|Keith Neumeyer||Anthony Makuch|
Runners-up include Keith Neumeyer of First Majestic (NYSE:AG).
Despite a drop in 19% share price in 2017, Erfle said, “Neumeyer is very popular among gold/silver bugs as he is very vocal in his manipulation beliefs. I believe this is a big reason for his popularity in the precious metals space, no matter the performance of both First Majestic and/or First Mining Finance.”
Anthony Makuch of Kirkland Lake Gold Ltd (NYSE:KL) also made the voters’ top choice â€“ Â the company saw its stock increase 173% in 2017 and revenue jump nearly 100%.