Ray Threlkeld is a discoverer and developer of world-class deposits. With over 40 years of extensive experience as a technical expert leading teams through exploration, reserve estimates and feasibility studies; a construction and operations manager; and a President, CEO and Chairman of public companies, he has been involved in the acquisition of more than $1 billion in assets, managed an estimated $1.4 billion in construction spending and created billions in shareholder value.
Early in his career, as a Project Director with Conoco Minerals, Ray led the Pumpkin Hollow team that defined the skarn zoning, discovery and delineation of the underground copper-gold deposit currently being mined by Nevada Copper. He was also a key contributor to the geology of the Florence, AZ porphyry copper deposit, in production by Taseko, and a co-discoverer of Idaho’s Bear Track gold deposit.
For Barrick Gold, Ray was responsible for seven world-class gold projects. He led a variety of feasibility, development, construction, staffing and government-relations efforts at Pascua-Lama in Chile, Cowal Gold Mine in Australia, Veladaro in Argentina, Lagunas Norte (Alto Chicama) in Peru, and Bulyanhulu in Tanzania. In just 27 months, he completed the acquisition, development, feasibility, permitting, construction and operation of Pierina in Peru, creating one of the lowest-cost gold producers in the world. It produced over 8 million ounces of gold over a 20-year period and launched Barrick Gold as the leading South American gold mining company. Ray introduced social and sustainability initiatives for Pierina and Bulyanhulu that involved agricultural development, company sponsored employee housing, schools, health clinics and scholarship funding for all children of employees. His team's $50 million reclamation work at El Indio mine in Chile set reclamation standards in South America.
As President and CEO of Western Goldfields, Ray commissioned the Mesquite Gold Mine in California on time and on budget, resulting in a massive increase in the company’s market capitalization from $12 million to more than $300 million. While CEO of Rainy River Resources, he led the team that completed permitting and feasibility studies, increasing gold resources to over 6 million ounces. Rainy River was sold to New Gold Inc., which continued to develop the mine. As Chairman of Newmarket Gold, Inc., his team sold the company for more than $1 billion in 2016. The sale of Newmarket Gold created over $4 billion in value for the Newmarket shareholders from an initial acquisition cost of $25 million.
The mining industry seldom sees an individual this successful in so many facets of the business. Ray has demonstrated unparalleled skill in discovering ore deposits and developing, building, operating, consolidating and selling mining companies at massive profit and creating shareholder value, making him one of the most accomplished professionals in the precious metals industry.
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