Bryan Slusarchuk’s bold move turned a $2 million bet into a $2 billion success story with K92 Mining in Papua New Guinea (PNG) and he’s not stopping there.
Beginning as a golf caddy, Bryan Slusarchuk climbed the ladder to become a major player in mining finance.
His remarkable journey, reported by Mining.com
, started amidst the mining downturn of 2014 when Bryan and partners invested $2 million (part of a $15 million total purchase) in a gold mine in PNG, which has since ballooned in value to $2 billion.
Introduced to the region’s gold potential by his friend Carson Seabolt, Slusarchuk’s initial skepticism turned into intrigue, leading to further exploration.
The site, previously under Barrick Gold’s ownership, lay dormant, casting doubt on its revival within the local community.
Spotting an overlooked opportunity, Slusarchuk’s team made a daring $2 million offer to Barrick Gold. Surprisingly, the low-ball bid was accepted, birthing K92 Mining, named after the starting point of their journey, Kainantu.
Since then, K92 Mining has grown into a billion-dollar enterprise, boasting a market cap surpassing $2 billion. With over 1600 employees and a $300 million investment, its stock skyrocketed from $0.35 to over $10, resulting in staggering returns for early investors.
And he is not stopping soon as he says “I haven’t been as excited since those early days of K92 as I am today, and that is because I’ve just been able to negotiate a huge new situation in PNG. We have tied up, through a variety of licenses and license applications, a 2166 sq km commanding land package within the country, including land contiguous with K92’s project.”
“Lots of historic drilling, lots of gold and copper, and as is similar to the early days on K92 – we bought this when nobody seemed to want gold. We think that is changing and we also believe that the fact the world’s largest gold miner, American-based Newmont, has just entered PNG over the past month and K92’s ongoing success will make PNG a more and more well-known jurisdiction. Geologically, it’s known as the Land of Giants for a reason.” further explained Slusarchuk.
His new initiative, Great Pacific Gold (trading as GPAC and FSXLF), holds promise with robust finances and a team experienced in PNG’s terrain.
Anticipating a prosperous future for GPAC due to its high-grade gold prospects, Slusarchuk views it as an opportunity rich with potential rather than just a risky gamble.
Outside of PNG, Bryan aims to replicate K92’s success with two new ventures, planning to list them on the TSX-Venture exchange:
Fosterville South Exploration Ltd, concentrating on high-grade gold projects near Kirkland Lake’s Fosterville, the world’s top-grade and low-cost gold mine (Approx $18 million valuation).
Turmalina Metals Corp, assembling a high-grade copper gold portfolio in South America (Approx $25 million valuation).
