A report published this year on mining projects in Quebec operated by French-Canadians says the typical enterprise has about 4 million shares in circulation which are in the hands of 400 shareholders.
Of these mining enterprises, 75% were incorporated between 1983 and 1986 and 90% were listed on the Montreal Exchange between 1983 and 1987.
While English-Canadian juniors tend to have their head offices in large cities (for example, Toronto, Vancouver and Calgary), the great majority of French-Canadian mining enterprises are set up near the site of operations, which, in Quebec’s case, is mainly in the northwestern part of the province.
Principal metals sought are gold, copper and zinc, with half of the enterprises also exploring for industrial minerals such as graphite, silica and limestone.
The presidents of the companies possess about 10% of the common shares of their firms. About 40% of the presidents are 35 years old or younger. They have a higher educational level than do the presidents of small- and medium-sized businesses in other fields: 73% have a university degree, with 54% of the graduates having studied in applied science (geology, mining or industrial engineering).
With regards to launching a mining company, 73% of the founders have invested $25,000 or less, and have sold mining claims to their new enterprises in exchange for common shares.
As to the management side, the entrepreneurs manage, on average, three mining exploration companies. Also, they average about 50 hours per week to the running of their companies.
The report, titled “Research on the phenomenon of French-Canadian entrepreneurship in mining exploration ventures” and funded by a grant from Energy, Mines and Resources Canada, was undertaken by three professors: Richard-Marc Lacasse and Berthe Lambert, both of the University of Quebec (Rimouski), and Gilles Saint-Pierre of the University of Quebec (Abitibi- Temiscamingue).
I have a small number of shares in Queenstake Resources Ltd and would like to know if they are worth anything?