Marketing junior exploration in Quebec and Canada: The 4 Ps

CIM Bulletin, Vol. 89, No. 997, 1996

Marcel Vallée, Géoconseil M. Vallée Inc., Ste. Foy, Quebec, Gratien Gélinas, Québec Prospectors Association, Val d’Or, Quebec, Jacques Trottier, Coleraine Mining Resources Inc., Montreal, Quebec

Mineral exploration in Canada traditionally has gone from boom to bust in cyclical patterns following market and discovery cycles, but other endemic factors related to exploration financing and performance have contributed to the amplitude and recurrence of these fluctuations. In view of these problems, junior exploration is reviewed here in a marketing perspective, looking at the 4 Ps: Product, Price, Placement and Promotion. In the 1980s, MEDA incentives gave the shares of junior and mining companies significant price and promotion advantages, and contributed to excessive exploration funding. Many were thus led to minimize the basic values needed for continued investor interest: appropriate levels of product quality, sustained share value and customer satisfaction. Basic changes are needed to improve the marketing of junior mineral exploration in the future, with or without improved fiscal incentives. To be successful, the required improvements must come from the technical participants, but the financial partners also need to be involved. Exploration in Canada must be marketed with vigour, both in Canada and internationally. Exploration, mine development and mine production are essential to our economy. They are environmentally acceptable and they are welcome in Quebec and in most Canadian provinces and territories. Canadian exploration and mining are entrepreneurial industries that must take better advantage of their strengths and achievements and remove the shortcomings that hinder them: nobody can do it for them!
Keywords: Exploration, Mineral economics, Mineral development, Marketing, Junior exploration.