In a field dominated by the slicker sectors of the Canadian economy such as banking and hi-tech, the investor-relations efforts of a couple of mining companies came out on top at the IR Magazine Canada Awards 2009, held in early February at the Fairmont Royal York hotel in Toronto.
The awards, established in 1998, are considered the top honours for investor relations professionals in Canada.
The winners were determined by a survey of more than 350 buy-side analysts, sell-side analysts, portfolio managers and retail investors. The survey was carried out in October and November by Mary Maude Research using samples from Thompson Reuters and Equicom.
The complete survey results are published in IR Magazine’s Investor Perception Study, Canada 2009.
This year, David Garofalo, longtime chief financial officer of Agnico-Eagle Mines (AEM-T, AEM-N) won in the category of “best investor relations by a CFO in a small to large-cap company,” beating out the CFOs from Baytex Energy Trust, Calfrac Well Services and Canadian Tire. Garofalo reckons he spends up to a third of his time on investor relations duties.
Potash Corp. of Saskatchewan (POT-T, POT-N) (PotashCorp) picked up the award for best annual report, edging out heavyweights
CN, TD Bank Financial Group and Telus. The potash miner also won for best investor relations in the mining sector.
The other mining people and companies nominated were: Eldorado Gold (ELD-T, EGO-X), Grand Prix for best overall investor relations for a large-cap company; David Smith, Agnico-Eagle, best investor relations officer for a large-cap; Kevin McArthur, Goldcorp (G-T, GG-N), best investor relations by a CEO; PotashCorp, best investor relations in the U. S. market by a Canadian company; Diamonds North Resources, (DDN-V, DDNFF-O), best investor relations by a TSX Venture Exchange company; Kinross Gold (K-T, KGC-N), most progress in investor relations; First Quantum Minerals (FM-T, FQM-L), best investor relations web-site for a small to large-cap company; and Agnico-Eagle, best investment community meetings for a small to large-cap company;
It’s an improvement over last year, when the mining industry was shut out of the winners’ circle. Previous years saw awards regular- ly given to miners such as Agnico- Eagle, Inco, PotashCorp and Inmet Mining.
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