Pelangio Exploration is a mineral exploration company currently developing the value of its gold exploration and resource projects located in Ghana and Ontario, Canada. The Company operates with a strategy designed to capitalize upon property acquisition opportunities arising during bear markets that are positioned for the bull market's wealth creation.
The Company's exploration properties are leveraged by a project generator model which aides the Company in sustaining the costs associated with geological study, corporate governance, and exploration field work.
The Company's most well-known project generation 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 results from the drill bit and intelligent corporate structuring.