Fast Company: He Struck Gold on the Net ( Really )
May 31, 2002, 16:00 (3 Talkback[s])
(Other stories by Linda Tischler)
[ Thanks to Darryl Caldwell for this
"It was hardly a dream come true. The gold market was depressed.
The mine's operating costs were high. The miners went on strike.
McEwen even got a death threat. But the new owner knew that the
mine had potential. "The Red Lake gold district had 2 operating
gold mines and 13 former mines that had produced more than 18
million ounces combined," he says. "The mine next door had produced
about 10 million ounces. Ours had produced only 3 million."
"McEwen believed that the high-grade ore that ran through the
neighboring mine was present in parts of the 55,000-acre Red Lake
stake -- if only he could find it. His strategy began to take shape
at a seminar at MIT in 1999. Company presidents from around the
world had come there to learn about advances in information
technology. Eventually, the group's attention turned to the Linux
operating system and the open-source revolution. "I said,
'Open-source code! That's what I want!' " McEwen recalls..."