Unlike many interviewees, Cook actually owns some juniors.In H1/14, I went through more than 100 gold deposits with NI-43-101-compliant resources and found very few that I felt actually made good money. There are lots of resources being touted by too many companies, just not many that can make money, assuming the gold price and cost structure stays more or less where they are.If we see a rapid rise in the gold price, maybe some of these assets will look more profitable. The last time the gold price rose, the majors dropped the grade they were mining, thereby lowering their per ton profitability. At the same time the input costs that go into mining—labor, materials, consumables—rose. We never saw the profit that was advertised and that we expected.
Brent Cook: I own, or my family owns, shares of the following companies mentioned in this interview:
- Pilot Gold Inc.
- Fission Uranium Corp.
- Focus Ventures Ltd.
- Dalradian Resources Inc