Robert Eckford: The Storied Leadership That’s Shaping RUA Gold
FULL DISCLOSURE: This is sponsored content for Rua Gold.
In the landscape of the gold mining industry, few executives have made their mark as swiftly as Robert Eckford. Now at the helm of RUA Gold Inc. (TSXV: RUA), Eckford has demonstrated an eye for opportunity, navigating some of the mining industry’s significant transactions over the last six years.
With the recent attention-grabbing strides made by the Vancouver-based mining firm, including its recent announcement of a major acquisition – Reefton Resources from Siren Gold – it’s worth diving into the trajectory of RUA Gold and how Eckford’s role as a financial architect and strategist has proven him to be an influential figure in the mining world.
Diamond in the rough
Eckford’s rise in the mining world began with Leagold, a company that focused on expansion through acquisition. In 2017, Leagold purchased the Los Filos mine from Goldcorp for $350 million, which became the company’s springboard into mining operations. As the Controller responsible for integrating business operations, Eckford was involved in ensuring a smooth transition.
By May 2018, Leagold had also successfully conducted a takeover of BrioGold, a $330 million deal that quickly evolved from a hostile bid into a friendly merger. Eckford, instrumental in this shift, managed the complexities of the acquisition and was again responsible for the integration of operations.
The biggest move came in March 2020, when Leagold announced a merger with Equinox Gold (TSX: EQX) in a deal valued at $1.75 billion. The result was a mining powerhouse with diversified operations in the USA, Mexico, and Brazil. Eckford’s contributions to the merger—guiding financial structures and ensuring the integration of assets—were key to the mergers success.
“This merger will create one of the world’s largest gold companies operating entirely in the Americas,” said Ross Beaty, Chairman of Equinox Gold, highlighting the strategy behind the merger. For Eckford, it was a transformative moment, reinforcing his ability of managing high-stakes, high-impact deals.
Arising from Aris Mining
Fast forward a year after Leagold’s merger, and Eckford had joined what would become Aris Gold (TSX: ARIS) as its Chief Financial Officer in 2021. The takeover of Caldas Gold, and subsequent $85 million financing, signaled Aris’s intent to become a significant player in the gold sector. As CFO, Eckford was involved in structuring the financing and establishing the operational blueprint for the re-imagined company.
In March 2022, Eckford again found himself at the heart of a major deal when Aris purchased a 20% stake in the Soto Norte project from Mubadala, a sovereign wealth fund from the UAE. This million transaction not only gave Aris operational control but also access to a significant mining project in Colombia. The acquisition involved the upsizing of an existing precious metals stream at the Marmato Mine by $65 million, and a $35 million debenture, for a combined financing of $100 million.
But it was the September 2022 merger of Aris Gold and GCM Mining that truly put Aris on the map. The $364 million deal consolidated operations at the high-grade Segovia mine and Marmato, positioning Aris as a leader in Colombian gold production. With Eckford as CFO, the complex financial structuring, deal negotiations, and integration of teams demonstrated his expertise in navigating multifaceted business combinations.
Neil Woodyer, CEO of the renamed Aris Mining (TSX: ARIS), reflected on the company’s rapid growth: “Over the past 18 months, our team has completed three transactions that have resulted in the creation of Aris Mining. We have an attractive mix of production, cash flow, and near-term growth projects.” Eckford’s contributions were at the core of these developments, setting the stage for the company’s continued success.
Gold rush
In 2024, Eckford transitioned to the role of CEO at RUA Gold, taking on the challenge of transforming a budding exploration company into a publicly listed entity. March 2024 saw the company execute a reverse takeover of First Uranium for $20 million to list on the TSX Venture.
Eckford’s move from his established role at Aris to the fledgling RUA Gold was seen by some as a gamble, but for him, it was an opportunity to build something from the ground up.
“It’s significantly undervalued,” Eckford said in a recent interview. “We know there’s high-grade gold in the area and we’re going to create something very valuable.” It’s a vision that has come to define RUA Gold’s approach: bold, forward-looking, and deeply rooted in the belief that exploration will yield significant returns.
In July 2024, RUA Gold announced the acquisition of Reefton Resources, a subsidiary of Siren Gold, for $20 million, adding to its portfolio of mining assets in New Zealand. This acquisition isn’t just about expanding territory—it represented a strategic expansion into high-potential exploration zones, allowing RUA to deepen its roots in the gold-rich landscapes of the region.
RUA Gold’s focus on New Zealand’s historic gold regions reflects a broader industry trend of revitalizing dormant mining areas with modern techniques. RUA’s properties include 39 historical gold mines that collectively produced nearly 700,000 ounces of gold at an average grade of 25 grams per tonne before operations ceased in the 1950s.
The company’s Glamorgan project, located just 2.8 km north of OceanaGold’s renowned Wharekirauponga (WKP) project, is of particular interest. WKP is considered one of the richest gold finds globally in the last three decades, believed to be part of the same geological structure as OceanaGold’s Waihi Mine—a mine that has produced over 10 million ounces of gold to date.
READ: Rua Gold Begins Exploration At Glamorgan, Identifies Epithermal Gold System
Eckford’s vision for RUA is to uncover what previous miners may have missed, leveraging new technologies and techniques.
The shift towards more mining-friendly policies in New Zealand also plays into RUA Gold’s favor, enabling the company to pursue its exploration and development activities with greater ease. As Eckford continues to guide RUA Gold, his approach remains clear: strategic growth, a focus on undervalued assets, and a commitment to transforming potential into realized value.
FULL DISCLOSURE: Rua Gold is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Rua Gold on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
