The Gold Report: Last month, the price of gold reached a five-year low near $1,140/ounce ($1,140/oz). Then it rose quickly to over $1,200/oz. Does this tell you the bottom is finally in? Rick Mills: Gold will probably remain, in the short term, somewhere between $1,000/oz and $1,200/oz. Medium term, when people realize the Federal Reserve […]
The Gold Report: David Morgan, principal of the eponymous The Morgan Report, and Equity and Economic Analyst Chris Marchese recently co-wrote “The Silver Manifesto.” A major theme in the book is the “debt bomb.” Please briefly explain what that is and why investors should be concerned. David H. Smith: “The Silver Manifesto” was written to
The Mining Report: In February, BMO Capital Markets hosted the 24th annual Global Mining & Metals Conference in Hollywood, Florida, where BMO posed the same 15 questions to both mining company managers and professional mining investors. The answers often illustrated a divide between those two camps. Which side has a better grip on reality? And
The Gold Report: You’ve written that the China-led Asian Infrastructure Investment Bank (AIIB) could lead to a boom in commodities. We recently saw that South Korea is joining a number of European countries and signing on, despite U.S. reservations. Do you see this as a threat to U.S. fiscal dominance? Chen Lin: I think this
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The Gold Report: The price of gold is flirting with a five-year low. Do you attribute this solely to the strength of the U.S. dollar, or are there other factors at work? Ralph Aldis: There are other factors. Most important is the strength of the equity markets. Looking at a six-year window, we have seen,
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The Mining Report: You have said, “Electrification of transport will not succeed unless the world has cheap, abundant, longer-lasting batteries.” What are the obstacles to obtaining such batteries? Simon Moores: There are a number. The first is the scaling of battery supply. The megafactories will be needed to drive down costs significantly. Tesla Motors Inc.
Pierre Lassonde, co-founder and chairman of Franco-Nevada Corp. (FNV:TSX; FNV:NYSE): I think today’s gold market is reminiscent of the 2001–2004 era. Gold bottomed around August of 2001 at $250/ounce ($250/oz) when the gold stocks recorded their absolute lows. I became president of Newmont Gold Co. at that point, and we were selling for $18/share and
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The Mining Report: Goldman Sachs cut its price outlook for almost all commodities, including oil, which it said could go as low as in the high $30 per barrel ($30/bbl) range. Do you see that as realistic? Philip Richards: I think that oil has now made a bottom. I look at Brent crude more than
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The Gold Report: In the December 2014 edition of the Hallgarten & Co. Model Mining Portfolio, you outlined some reasons for investors to be cheerful. Please share some. Chris Ecclestone: The first is the oil price. The mining space has been afflicted with capital and operating expenditure inflation for 10 years. One of the most
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The Mining Report: Over the last 30 years you’ve been involved in a number of natural resource mining companies as an executive officer, board member and/or investor in your position as managing director at Clarion Finanz, including some controversial projects that made headlines both when they did well and when they failed. Has the structure