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Billion-Dollar Gold Dream Lures Mining Maverick Out of Hiatus

  • Frank Giustra aims for hat trick with Leagold Mining in Mexico
  • Bill Clinton pal sees ‘major’ gold producer within four years
Frank Giustra.

Frank Giustra.

Photographer: Darryl Dyck/Bloomberg
Updated on

Frank Giustra likes to see big where others think small.

The Canadian mining maverick’s latest target is a subterranean patch of red earth in southwestern Mexico. In January his new undertaking, Leagold Mining Corp., bought the Los Filos mine from Goldcorp Inc. for $350 million. It wasn’t the open pits churning out 200,000-plus ounces of the precious metal that caught this attention -- it was the untapped deposit stretching for roughly 600 meters below.