Pelangio Exploration is a mineral exploration company with a strategy designed to capitalize upon acquisition opportunities arising during bear markets and wealth creation occurring during bull markets. To this end the company holds a portfolio of strategically located projects that it categorizes as core and peripheral assets. The peripheral assets are leveraged through a project generator model which aids the company in sustaining its operating costs. The core assets are Pelangio’s principal focus and the subject of thorough geological study and exploration programs in order to make discoveries. Pelangio’s core assets are located within prolific gold belts in both Ontario, Canada and Ghana, West Africa.
The Company's most well-known success was the acquisition, exploration, re-envisioning, and subsequent sale of the Detour Lake deposit in Northern Ontario to Detour Gold Corporation. This property is now a long life, large-scale open pit mining operation with reserves of over 16 million ounces of gold. Through an innovative approach to corporate structure, Pelangio’s President and CEO, Ingrid Hibbard, negotiated a deal in which Pelangio sold the project for 20 million shares (a 50% interest in Detour Gold Corp). This strategy allowed for Pelangio’s early shareholders to realize extraordinary returns. A purchaser of Pelangio Mines Inc. shares in January 2004 might have paid $0.10 per share. By late 2010, with Detour Gold at $30 and Pelangio Exploration at $1.00, those original shares would have been worth $8.70, a remarkable 8600% return on the initial investment. Those returns illustrate Pelangio's goal of generating wealth for its shareholders via both the drill bit and intelligent corporate structuring.