Ross J. Beaty is a geologist and resource company entrepreneur with over 40 years of experience in the international minerals and renewable energy industries. In early 2008, Mr. Beaty founded Magma Energy Corp. to focus on international geothermal energy development. In 2011, Magma and Plutonic Power merged to create Alterra Power Corp. Mr. Beaty also founded and currently serves as Chairman of Pan American Silver Corp., one of the world's leading silver producers, and since 1985 he has successfully founded and divested a number of other public mineral resource companies. Mr. Beaty is a Director of The Nature Trust of B.C. and patron of the Beaty Biodiversity Center at the University of B.C. Mr. Beaty is a past President of the Silver Institute in Washington, D.C., a Fellow of the Geological Association of Canada and the Canadian Institute of Mining, and a recipient of the Institute's Past President's Memorial Medal. In 2007, Mr. Beaty received the Association of Mineral Exploration of B.C.'s Colin Spence Award for excellence in global mineral exploration; in 2008, he received the Mining Person of the Year award from the Mining Association of B.C. and the 2008 Natural Resources & Energy Entrepreneur of the Year Award by Ernst & Young. In 2010, Mr. Beaty was awarded the prestigious Viola MacMillan Award at the Prospect and Developers Association of Canada.


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– Ross Beaty (Photo: The Nature Trust)

Ecuador has a terrible reputation as a mining jurisdiction, ever since the government there passed a 70% windfall profits tax on metals mined, highlighted by the fact that major miner Kinross abandoned the Fruta Del Norte gold project there last year, which they paid over $1.2 billion for in 2009.

So I have no idea why mining legend Ross Beaty, who founded Pan American Silver and the Lumina Copper Franchise, is plunking $5 million into a TSXV junior called Odin Mining and Exploration (source).

A few possible reasons include Mr. Beaty’s impressive contrarian track record, which saw the Lumina Copper group for example, return over 80x to its original investors.

Another reason could be Beaty’s recent windfall from his stakes in Augusta Resource, which just sold to Hudbay, and the sale of Lumina Copper to First Quantum. The two deals have grossed over $150 million to Mr. Beaty’s coffers in just two weeks.


http://ceo.ca/2014/06/23/mining-legend-ross-beaty-to-take-control-of-this-5-cent-ecuadorian-junior/