Nobody’s perfect. What quality or ability do you wish you had?
I wish I had the ability to choose the right employees and the patience to train them. It seems anytime I find the right person, they get hired away from our small company and those that want to stay don't always develop skills.
What is the best business book you have ever read, and why?
Against the Gods: The Remarkable Story of Risk. (Peter L. Bernstein). Understanding and assessing known risks, identifying and quantifying the impact of risk that has not occurred, discussing the rewards for success, the development of a science supporting the mutual fund industry, hedge funds and other publicly-traded stocks is discussed. Understanding risk is essential to making decisions in changing business climates.
Someone you would most like to have met, living or dead, and why?
An impossible question! There are so many inspiring people in the world I would like to meet or would have liked to meet. I would have to say the most interesting person would have to be George Washington. This is a man that forged the greatest nation the world has ever known where, despite being far from perfect, people live free of tyranny, mostly in general well-being and with a steadfast loyalty to their country.
What do you consider to be your major achievement (in life or business)?
I was one of the founding directors of Norsemont Mining which helped to create more than 20 new millionaires and made money for anyone that invested and held their stock when it rose from $0.05 to a buy-out at $4.25. Today, that mine is being built in Peru and will supply copper to the world for the next 50 years.
Who or what do you think is overrated?
Europe in general is over-rated within the global community. Growth rates are stagnant, birth rates are negative and most nations have low productivity. If Europe is going to survive it must increase immigration, increase birth rates and increase productivity.
What mistakes have you made (professional or otherwise), and what did you learn from them?
I tried to run 2 very active companies at once between 2006 and 2011 and was not prepared for a black swan event like 2008. Never bite off more than you can chew and know that the true worth of a company is the management's skills, because you never know what kind of opportunities are around the corner if you have the capacity to take them on.
Which one piece of wisdom would you pass on to your successor?
Always answer the phone but if you miss a call, return it immediately. Opportunities never wait nor do impatient shareholders who may have their finger on the trigger.
Who has been your inspiration professionally?
Frank Guistra – someone who has made money in mining finance and company building and then contributed $100 million to the Bill Clinton Foundation to help Africa.
How would you like to be remembered after your retirement?
As someone who made every shareholder that held on wealthy.
Do you have a quote or motto you live (or work) by?
“Buy low, build high”
A. Paul Gill is President & CEO of Lomiko Metals Inc. For more information see www.lomiko.com
