Jerry Garbutt
Strategic Concepts & Mechanics
Primary Evidence
"At breakfast in Klosters on the morning of December 20, Peter Munk reviewed with great satisfaction the fax that had arrived from his financial people, Jerry Garbutt and Greg Wilkins, on the matter of Goldstrike development financing. Munk’s team recommended that, of the two banks submitting offers—the Toronto-Dominion Group and the Union Bank of Switzerland Group—the lead mandate be awarded to the UBS group, which offered US$441 million secured against 1,050,000 ounces of gold over eight years, extendable to eleven years. There it was, a commitment for US$441 million, which, according to Bob Smith, would turn the little mine called Goldstrike into North America’s top gold producer."
"Gold: The First Free-Trade Commodity 243 of the Hill plan, but also about the projected costs and budgets. Once Goldstrike was fully up and running he could leave the day-to-day operations to his totally reliable Bob Smith and the financial gatekeeper, Jerry Garbutt."