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Podcast: Gold & Green Hydrogen with Minnova Corp


This week, we talk with Gorden Glenn, Chairman, President and CEO of Minnova Corp (MCI: TSXV) and its subsidiary Minnova Renewable Energy. Based in Canada, Minnova Corp is an emerging gold producer with a focus on incorporating clean energy into its PL Gold Mine.

As societies across the world emerge from the Covid-19 pandemic, the gold mining market is likely to experience significant changes to the composition of this historically stable and robust industry. Given context of change, our latest episode will be of interest to many listeners and investors.

On the Podcast

Minnova Corp has been an active participant in mining exploration and development for just over 10 years. Although its primary project has historically focused on the Flin Flon mining camp in central Manitoba, the company has recently acquired the PL Gold Mine. Glenn explains the results from the feasibility study which Minnova Corp undertook prior to acquiring the PL Mine, and why these promising results led the company to shift its focus towards this project in particular.

In addition to his main company, Gorden Glenn has also recently created a subsidiary called Minnova Renewable Energy, which focuses on making the transition towards becoming a green energy infrastructure business. Glenn admits that, initially, he did not completely understand the scale of the potential renewable energy exposure, but thought it would be important to incorporate it into his main business. After witnessing the success of Minnova Renewable Energy, Glenn is looking to keep on accelerating this subsidiary and grow its operations.

Together with the creation of Minnova Renewable Energy, Glenn has also concentrated his efforts on agreeing the complete acquisition of DUMA Engineering in Manitoba to get access to its biomass gasification technology. DUMA Engineering’s technology would allow Minnova Corp to achieve a higher hydrogen content in the initial gasification process and consequently experience lower production costs, which, in the long run, will boost company profits.

As Glenn explains, the acquisition of DUMA Engineering will also ensure Minnova Corp is at the forefront of the global movement towards incorporating the ‘future fuel’ hydrogen into energy mixes to reduce carbon emissions. As such, the company will be well-positioned to take advantage of the significant policy and fiscal commitments that are being made by the Canadian government and its provinces to reduce their carbon footprint and incentivise the transition away from a fossil-fuel based economy, and towards a greener society. These incentives include the encouragement of R&D into green technology and increased dedicated funding availability to renewable energy sources.

Looking forward to the future of Minnova Corp, Glenn outlines three possible outcomes for the company. Firstly, Minnova Corp could engage in M&A with another company from the same sector, given fitting circumstances. Secondly, it may look to seek a management team for the PL mine that can take it into the public realm, whilst still being under Minnova Corp control within the company’s current structure. Or thirdly, it could continue on its current path towards successfully advancing both of its business fronts: Minnova Corp and Minnova Renewable Energy.

Regardless of which strategy the company decides to pursue, Glenn has reassured investors that the outcome will be dictated by the ability to surface as much value for Minnova shareholders as possible in the context of the market.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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