Murray Pezim's mining story

Murray Pezim, a name that echoed through the world of stock promotion, was a man of incredible highs and lows. Born in Toronto in 1920, he started his journey in the stock

Murray Pezim, a name that echoed through the world of stock promotion, was a man of incredible highs and lows. Born in Toronto in 1920, he started his journey in the stock market at a young age, leaving school at 14 to help his father in their butcher shop.

In 1951, he officially entered the brokerage business and quickly made a name for himself by raising funds for the Denison uranium discovery. However, his early career was also marked by a series of money-losing penny stock deals, and the Windfall scandal in 1964 pushed him and other promoters to seek greener pastures on the West Coast, leading Pezim to Vancouver.

In Vancouver, he honed his promotional skills on numerous stock deals, venturing into various other endeavors, such as bankrolling the famous 1972 boxing match between Muhammad Ali and George Chuvalo, which ended up in a financial disaster.

Pezim's most significant breakthrough came in 1982 when he played a crucial role in financing the Hemlo gold discovery in Ontario. The saga began when resolute prospectors Don McKinnon and John Larche joined forces on a 680-acre claim in southern Ontario. Undaunted by adversity, they caught the attention of visionary Murray Pezim, who acquired their claims and tirelessly pursued $1.2 million for drilling operations.

Though initial results revealed traces of gold, the grades fell short. Nevertheless, Pezim's belief led him to acquire over a million shares and take the helm of Corona, the company funding Hemlo's exploration. His relentless commitment ensured continuous funding for David Bell and his team, who drilled for eleven more grueling months. In the end, Pezim's determination yielded the historic Hemlo discovery, challenging Toronto's power centers and securing his legacy as the "Godfather" of the Vancouver Stock Exchange.

Yet, Pezim's life was a rollercoaster, filled with ups and downs. He became known for his manic-depressive illness, a condition that fueled some of the most extraordinary stock promotions in Canadian history but also led him to the edge of financial ruin and legal trouble.

One of the most notorious episodes in his career involved the Eskay Creek area in northern British Columbia. Pezim promoted investments in this region, encouraging public investors to buy while he and his colleagues quietly unloaded their own stocks. An investigation by the B.C. Securities Commission uncovered numerous offenses, resulting in Pezim receiving a one-year trading suspension.

In 1995, just as his suspension was about to expire, Pezim faced a life-threatening health crisis. He fell and cracked a rib, and during treatment, doctors discovered that his colon was on the verge of rupturing.

Murray Pezim spent his later years in a well-appointed condo on False Creek, battling health issues, including a stroke that paralyzed his left arm.

Murray Pezim's life was a mosaic of incredible successes and daunting challenges, a testament to the complexity of his character and the volatile world of stock promotion. At the age of 77 in 1998, he passed away from a heart attack, leaving behind a legacy just as enigmatic as the man himself.