Warren Gilman

Warren Gilman is a mining engineer turned investment banker turned fund manager — a career path that gives him a rare 360-degree view of the resource sector. He is the Founder, Chairman, and CEO of Queen's Road Capital Investment (QRC), a Hong Kong-based mining investment firm. Before launching QRC, he spent 26 years at CIBC, where he co-founded the bank's Global Mining Group and ran mining teams across Toronto, Sydney, Perth, Shanghai, and Hong Kong.

During his CIBC tenure, Gilman was responsible for some of the largest equity capital markets financings in Canadian mining history. He advised the world's biggest mining companies on deals and strategy, including BHP, Rio Tinto, Anglo American, Noranda, Falconbridge, China Minmetals, Jinchuan, and Zijin. In 2011, he took the helm at CEF Holdings — a global mining investment company jointly owned by CIBC and CK Hutchison Holdings — before founding QRC to deploy capital directly into mining opportunities.

Gilman's investment philosophy is blunt: rule number one is do not lose shareholder money. At QRC, he applies a mining engineer's discipline to capital allocation, focusing on downside protection before upside potential. He looks for quality assets in the public equity markets, preferring companies with genuine geological merit and competent management over speculative narratives. His board positions reflect his sector focus: he serves as a director of NexGen Energy (uranium in Saskatchewan's Athabasca Basin) and Niobec (niobium in Quebec), and has held a directorship at Aurania Resources.

For mining investors, Gilman offers something increasingly scarce — a practitioner who has seen the sector from every angle. He has structured the financings that build mines, advised the majors that buy them, and managed the funds that invest in them. His current focus spans uranium, critical minerals, and precious metals, with particular attention to how Asian capital flows shape commodity markets. When he speaks about risk and reward in mining, he does so with three decades of deal-making behind him.