Quinton Hennigh Playing 3-D Chess with Irving
In February when I was writing about Irving I put in some pictures of rocks from Irving that Quinton sent me. I polished them and had a jeweler friend make buckles out of them.
(Click on images to enlarge)
I did the polishing. Maurice put up the gold. I am way too cheap to be buying gold buckles for him.
I’ve known Quinton for over a dozen years now. He’s smarter than me. Hell, he’s smarter than Barb was and she was smarter than me. Because Quinton tends to dress in Goodwill basic, people underestimate him.
Quinton’s playing 3-D Chess when everyone else thinks it’s Chinese Checkers. It’s not. There is purpose in everything he does. He and Akiko have the perfect relationship. She Captains the boat and he adjusts the sails now and again. I know a lot about the background, we talk constantly.
When you create a mining company or put a mine into production, you need to make sure you haven’t painted a bulls-eye on your back with a sign on your head saying, “I’m stupid.” Many a poor young lad has believed he has made his fame and fortune only to find out someone snatches it away for cents on the dollar while he was setting up his marbles ready to play.
Quinton is always thinking about the future. He wants to help create Japan’s leading gold mining company but not to see it snatched away by someone with deep pockets. So he keeps thinking about how he can balance one side off by another. He needs to be making alliances where everyone is marching in the same direction.
And to a large extent the market doesn’t understand the importance of Akiko being Japanese and understanding the nuances of Japanese culture. This is really simple. No Canadian company is going to come in and let the Japanese know how things are done. The Canadian company either becomes Japanese or thinks Japanese or they fail.
Irving has released two press releases that if the market actually understood what they mean over the long-term, the shares would be in double digits.
A week ago Irving announced they are in discussion with Shimadzu Ltd about doing something with them on the Yamagano Mining License. Those mines have been held for almost four hundred years by one of the most important families in Japan, the Shimadzu Clan. It is the nearest mine to the famous Hishikari gold mine. It has never had a drill hole or any modern exploration.
The Shimadzu family is not about to go into the gold exploration business. They are in other areas of Japanese business. But them agreeing to talk about terms on advancing Yamagano is nothing short of incredible and pretty much ignored by the market.
What it is represents a three-way deal between Sumitomo, Newmont and Irving. That’s not unlike an eight-year-old prodigy being invited to the World’s Cup of Chess. But even child prodigies grow up one day.
I’ve participated in a lot of private placements in Irving. I’ve bought shares in the open market and they are an advertiser. Right now they are my largest position. Naturally I am biased so I encourage all potential investors to do their own due diligence.