Holder Resources commits to Mining expansion in Guyana
Holder Resources Inc., a resource company growing sustainable logging and mining operation operations in Guyana, one the fastest growing economies in the world, today, unveiled their growth strategy for 2024.
Building upon their 30-year strategic network in the region, HRI has evolved into a key player in both gold mining and sustainable logging in Guyana, utilizing innovative sustainability initiatives to prioritize both community and conservation. In addition to significant Gold and Diamond operations, Holder Resources is expanding its focus into the sustainable logging market that has come as a result of the European Union’s Agreement to source timber from Guyana, which has presented itself as a significant multimillion-dollar commercial opportunity.
Guyana is a vibrant South American nation characterized by its lush rainforests, pristine rivers, and diverse cultural heritage. Located on the north-eastern coast of South America, it is the continent’s only English-speaking country. In 2022, Guyana had an impressive 62% increase to its GDP, positioning it as the fastest growing economy in the world, and, is predicted to continue its remarkable growth by double digits over the next 5 years, due in part to the historic EU-Guyana Timber Agreement. Such agreement increases the Company’s logging opportunity because it enables the European Union to source timber from Guyana and for EU countries to be less dependent on Russia.
“Our focus in 2023 was to grow our timber concession and position ourselves for commercial operations by gaining the right financial backing and putting together a group of strategic partners and operators. Our 30-year history of connections in the country, dating back to our grandfather going to Guyana in 1993, has given us the opportunity to be successful in all of these facets, giving us a strategic advantage,” said Lance Mishleau, CEO of HRI.
“Since June of last year we have raised over $1.5M USD, made agreements on rights to roughly 200,000 acres of logging concessions that are projected to be worth about $1B USD in timber with roughly USD $220,000,000 already surveyed and stamped by the Guyana Forestry Commission. In addition, we have put together a strong and passionate team in the U.S., as well as the Guyana operations, attended industry conferences in New York City, New Orleans, and London helping us amplify our reach to the investment community, and retained ThinkEquity to advise us on strategic growth initiatives,” concluded Mr. Mishleau.
Building on the Company’s progress in 2023, HRI anticipates acquiring the necessary capital as the catalyst to continue ramping up logging operations in 2024. The Company expects such capital to enable the acquisition of additional machinery and specialized logging equipment needed to scale timber operations. In preparation for these funds, HRI has initiated preliminary work on the timber concessions and started sustainably harvesting with expectations to derive their initial revenue from timber operations in the first quarter of 2024.
If successful, these additional funds would expand logging and gold mining operations, complete purchase of a 57,220 acre rare earth concession with logging opportunities as well, prepare to acquire government concession grants in 2024, further develop HRI’s ESG plan and carbon credit revenue. As a part of the next phase of funding we are looking to do a mix of debt and equity.
