When you have been in the junior resource company business – as a broker or an investor relations professional – you see a lot of companies which are flawed. Too many shares out, management lining its own pockets, projects which have no real chance. Derek Wood, having worked in various aspects within the Canadian Capital Markets since the early 90s, had seen it all and he decided that he would put together a company and do it right.
“Two years ago Tocvan Ventures (C.TOC),” was created said Wood. “We started with a very advanced qualifying property Rogers Creek in southern BC. A copper-gold porphyry. But porphyries cost a lot of money to drill. They can be worth a lot too. We met our exploration obligation in Year 1 but we are not exploring there this year.”
“We went public with 10 million shares,” said Wood. “Mark Smethurst joined the company and he reviewed over 150 properties.”