The seven new wonders of the mining industry
Wednesday, November 21st, 2007
Mining involves taking a gamble. Miners bet on their experience, timing and their geology skills to map a body of minerals deep in the ground and then move heaven and earth to get to it â€“ all the while praying they’re right.
More recently, though, before they start blasting, they’re mining data first, thanks to Vancouver based Gemcomâ€™s seven software applications that target all phases of mine development.
Traditionally, data from the field would end up on a geologist’s desk. The advantage of Gemcom software is that it draws on a database built up over 30 years and can predict what the body probably looks like based on data from other mines and similar geology.
According to Michelle Stone, senior geologist at Vancouver’s Capstone Mining Corp, “It takes just a few hours now to do what used to take weeks in some cases. The Cozamin mine has seen a 25-per-cent quarter-to-quarter jump in production as a direct result of using Gemcom’s software.â€
Mining is increasingly about managing data and extracting the intelligence. It’s an expensive process and mining companies want to be able to evaluate properties quickly and understand if they have a viable body or just an outcrop that isn’t feasible to go after.
Gemcom software is an invaluable tool in reducing that burn-to-earn period.
Gemcom Software International Inc. of Vancouver is the largest global supplier of specialized mining productivity software. Gemcom’s seven software applications assist with all phases of mining from development, to finding locations, and to managing a producing mine.
– 18th consecutive profitable quarter.
– Stock rose 9.5% Last week.
– All the financial analysts that cover Gemcom consider the company a strong buy and have raised their target prices.
– Gemcom is a 22-year old growing global company headquartered in Vancouver.
– Gemcom brings together 2 of the biggest industries in BC: mining
– Gemcom is celebrating the 10 year anniversary of being listed on the TSX.
– Gemcom is annually listed in the Vancouver Sun’s TOP 100 companies.
– Gemcom was Company of the Year Runner up for the BCTIA Technology Impact Award.