On the Gold Price Opportunity .....
30:08
just finish off for a second on kind of
30:11
white gold because I'm not really known
30:14
as a gold bag I've never been a fanatic
30:17
about gold or or even for that matter
30:19
silver is a very firm believer in cycles
30:23
this is a cyclical business Rin in the
30:26
commodity business gold is no exception
30:28
just like copper and nickel and silver
30:30
and all these metals and quite frankly
30:33
oil and gas cycles happen for all sorts
30:38
of reasons but they're real and
30:40
really well being a kind of a contrarian
30:44
investor starting panamerican when
30:48
silver was four bucks an ounce for five
30:50
bucks an ounce and building an asset
30:53
base that really transformed itself in
30:56
terms of value as the silver price went
30:57
up start in a copper business in 2002
31:01
and the copper place was 70 cents an
31:02
ounce
31:04
we bought ten deposits not a single one
31:07
of those had any value real value at 70
31:09
cents an ounce but I made about two
31:11
billion dollars from those when we sold
31:13
them over the next ten years as a
31:15
carburetor oohs so it was a pretty good
31:17
trade I'm thinking the same right know
31:20
about gold we're not exactly the start
31:22
of a bull market were about the third
31:24
inning to use a baseball analogy because
31:28
gold really bombed in 2016 in January
31:31
and it had a nice little run for the
31:33
first six months and it's kind of
31:34
bounced around a little bit but just
31:36
recently it's had this nice little lift
31:38
to 13:30 from 12 1250 or 20
31:43
it has great legs right now it's poised
31:47
to go higher I wouldn't see be surprised
31:50
at all to see this particularly or this
31:53
particular bull run exceed the last hype
31:56
that it hit in 2011 of $1,800 an ounce
32:00
there's supply reasons for this there's
32:02
demand reasons for this I could talk a
32:05
long time about how I know why I believe
32:08
gold is is going to do well but I think
32:12
everybody in this room has their own
32:13
opinions or you wouldn't be R and right
32:16
I just think at the end of the day it's
32:18
just a gut feeling it's a gut feeling
32:20
that's worked well for me I do believe I
32:24
understand these cycles pretty well of
32:26
course I don't know how it'll run I
32:28
don't know exactly if it's going to
32:30
perform as I think it will who knows but
32:32
I just have that gut feeling and in that
32:34
environment building a gold company
32:37
that's focused on gold in relatively
32:40
safe jurisdictions that's building a big
32:43
company will deliver big returns okay
32:47
that's all I'm interested in it will be
32:48
liquid it will be something you can buy
32:51
you can get in
32:51
you can get out of without worrying
No comments:
Post a Comment