Wednesday, 31 January 2018

Ross Beaty on Gold Price Opportunity & Building Equinox Gold



On the Gold Price Opportunity .....

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

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