After graduation, Bergmann and Lentz worked as consulting geologists on different projects in Canada. After both worked on the same contract, they ended up leading a number of others together. While on these remote Canadian work trips, whether working out of tents or cheap motel rooms, they formed their business.
“It was rocks all day and then forming a business around rocks all night,” Bergmann said. “We took a really long time to strategically plan how we were going to launch our company and our ideas … and how we could really get into the market as 24-year-olds.”
In 2010, the two launched Big Rock Exploration, a geological consulting firm, which now works with clients from small landowners to multibillion-dollar organizations on metal and mineral projects in the United States and Canada. Some of their clients include PolyMet, AngloGold Ashanti N.A. and Rio Tinto. F3 Gold was formed later.
Big Rock now has a full-time staff of 20 headquartered out of modest offices in northeast Minneapolis. The staff includes 18 full-time geologists and 20 to 25 contract geologists.
Big Rock has worked on copper/nickel, uranium, copper, gemstone, industrial mineral, diamond, rare earth element and renewable-energy projects. Currently, the company has 16 to 20 different projects in nine industries.
Lentz and Bergmann said Big Rock has less than $5 million in annual revenue and is on pace to double that within three to five years. Last year, the two chose to focus on optimization and operational excellence and saw revenue grow 63% and margins increase 10%.
