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Gordon Lam is CEO, President and General Manager of Etruscus Resources Corp., a Vancouver-based junior exploration company focused on the development of the company’s 100%-owned Rock & Roll project.
The Rock and Roll deposit is located in the fertile Golden Triangle in northwestern British Columbia, Canada, and lies 7 km northwest of the former Snipe mine, currently operated by Skeena Resources.
Etruscus Resources has the right team and the right vision to unlock the true potential of the Rock & Roll project.
Gordon has over 21 years of experience in public procurement as an investment advisor, independent advisor, entrepreneur and investor. It specialises in helping companies in the early stages of the listing process, in business and market development, financing and consultancy.
His entrepreneurial spirit, understanding and expertise in all aspects of a successful business make him a valuable asset to start-ups. With a Bachelor of Commerce degree in Finance from the University of British Columbia, Gordon has a balance of business knowledge, analytical skills and practical experience. Gordon used these assets to work for 16 years as an investment advisor at three different brokerage firms.
In 2013, he left PI Financial Corp. to start his own management consulting firm. More recently, he has provided consulting services to companies active in the technology, biotechnology, resource, automotive and oil exploration sectors.
In an exclusive interview with Gordon, Gordon says…
Before you start your journey, make sure you can afford the years needed to build the building. If you are unable to do so financially or if you are unable to make sacrifices, you may not be suitable as a founder at an early stage.
Many founders do not invest this time and effort. They often focus on short-term objectives at the expense of long-term strategies.
Founders often have to make mental, physical and financial sacrifices to give the company time to lay a solid foundation for eventual success. This has been happening for years, not months.
Read on to learn more about Gordon Lama and his journey.
Tell me about your personal experiences and what motivated you to work for your company.
Gordon Lam: I was a former stockbroker for 16 years specializing in starting up companies and helping private companies go public. When I left the brokerage sector, it was a natural progression in my career – I used my knowledge and experience to develop start-ups and present them publicly.
What is your current main product and can you give a product sales history?
Gordon Lam: Etruscus Resources is a junior mining company with two properties in the Golden Triangle in British Columbia, an area known for its rich mineral resources. The Etruscans have an active gold and silver loading and are trying to expand their resources. The previous operators focused mainly on the field area, which is 600 metres long. When we acquired the Rock & Roll site in 2018, our goal was to expand the area through large-scale drilling. In 2019, we more than quadrupled the length of the shot, which increased to 2700 meters.
How much money have you raised so far? When was the last financing cycle?
Gordon Lam: So far the Etruscans have collected more than 4 million CDNs. We recently raised 1.5 million Canadian dollars and hope to raise extra money in the near future.
What are the internal decision-making processes that determined the start of fundraising and what logistics are involved? And how many investors did you meet, how did you get to know these investors and which channels worked best for you?
Gordon Lam: The aim was to raise funds for this year’s exploration season, but the first blockade of the COWID 19 pandemic prevented fundraising until spring. Then we completed the financing in June and again in August. Given my background as a former real estate agent, I have built up a network of former clients and many contacts over the years. We have spoken to many investors on the phone, in person, at Zoom and WhatsApp. We have also organized several webinars for groups of investors and plan to do more in the near future.
What are the main challenges and obstacles in the fundraising process? If you had to start over, what else would you do?
Gordon Lam: The biggest problem I’ve faced lately is juggling large and small investors with local and international investors, who all have different investment goals.
International investors, for example, need different forms of acceptance. In the future we will coordinate the documentation to make the process more efficient and easier for all parties involved.
What are the milestones for the next cycle? And what are your goals for the future?
Gordon Lam: We are focusing on a major $3 million financing round to accelerate our growth and take us to the next stage of development.
How did you attract users and what strategy did you use to grow your business from start to finish?
Gordon Lam: We don’t have users, so I’m going to the investors.
We have broadened our involvement and shareholder base, mainly from Canada, the United States and Europe. We have been listed on the Frankfurt Stock Exchange (FSE) since this year and hope to be listed in the United States soon. We already have American investors.
Which software was the best marketing tool to help your start-up grow, and why?
Gordon Lam: Online marketing has proven its value in Europe as it broadens our shareholder base and the general interest of investors.
That most starters are usually wrong about marketing?
Gordon Lam: Start-ups often think that they don’t have to spend money on marketing, but that they do have to spend a certain amount, especially in the exploration sector. There are many companies in this sector, and in fact they are fighting for investors’ dollars. Without marketing, no one will know your company.
How would you like to develop your activities worldwide?
Gordon Lam: We have already started this plan with the listing on the Frankfurt stock exchange and marketing in Europe. We have already made good progress thanks to a strong institutional framework and ownership. Then comes the United States, which has a similar listing plan, followed by marketing to broaden our shareholder base to US residents and institutions.
What are the most common mistakes companies make in their global expansion?
Gordon Lam: A common mistake is to grow too fast without having the capital and the means to make it work, or if you have the capital without spending the money to make it work. Another error is that a market with a small amount of capital is not checked for interest before large amounts are allocated.
How do you manage the Kovid 19 flash situation to ensure the survival of your company?
Gordon Lam: When COVID came by, we closed our office and kept costs to a minimum. We then lobbied our industrial partners to pave the way for the summer discovery season. The meetings were mainly organized by the Zoom or Microsoft teams. We have strict COVID protocols in our offices and facilities, both internally and with our partners and suppliers.
What are the most common mistakes founders make when starting a business?
Gordon Lam: Many founders do not invest this time and effort. They often focus on short-term objectives at the expense of long-term strategies.
Founders often have to make mental, physical and financial sacrifices to give the company time to lay a solid foundation for eventual success. This has been happening for years, not months.
What is the best advice you have ever received? And what advice can you give to someone who wants to do similar things with you or go in a similar direction?
Gordon Lam: Before you start your journey, make sure you can afford the years needed to build the building. If you are unable to do so financially or if you are unable to make sacrifices, you may not be suitable as a founder at an early stage.
What are the three most popular books or movies (series) that changed your life and why?
Gordon Lam:
Shopping malls – a film about how success and failure can happen instantly. Life is not only about making money, but also about protecting it, because there is always a risk, even if you think it’s good.
Big Shorty taught me how wrong and confusing the world can be in the American housing bubble. People tend to be short-sighted, looking for profit and don’t realize that they are contributing to a much bigger problem. The film taught me that only because everyone invests in subprime mortgages or other complex financial instruments doesn’t mean they have to. Sometimes it’s better to fight it. Those who chose to cut back have made huge profits.
The Wolf of Wall Street is both a book and a film that taught me to be a good person and do the right thing. As with books and films, some people earn a lot of money quickly and easily, but this is at the expense of others. Sudden wealth can also change a person and lead him or her to a path from which he or she can no longer recover, such as drug and alcohol addiction. That’s not who I am. Personally, I like to set up businesses. This allows me to create value for the shareholders, which means that everyone makes a profit. For me, it’s a win-win situation for everyone!
How do you maintain your motivation on a daily basis?
Gordon Lam: It’s not easy, because there are always ups and downs. But what I do to motivate myself is to keep the ultimate goal in mind.
If you keep the pressure on and work hard, you will achieve your goals.
What are the three most important life lessons your (future) sons and daughters need to know?
Gordon Lam:
Success is the result of hard work, dedication and sacrifice.
We didn’t give you anything. You have to earn it.
Why do you want to be remembered?
Gordon Lam: I want people to remember that I did everything right and I didn’t take any shortcuts. Many people are unethical, they cheat, lie or steal to succeed, but in the end all they do is hurt themselves and their names. I can sleep at night and be proud of what I have achieved, not of what I have done, because of my ethics, honesty and hard work.
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