The Gold Report: You recently wrote a piece in Exploration Insights reminiscing about the 1997 to 2002 resource market. What did we learn about investing in gold and silver in that five-year window?
Brent Cook: I first started working for Rick Rule in 1997, just as the last resource bull was dying. The market just kept going down, way below where people thought it could possibly go, and it continued to get worse in 1998, then 1999 and 2000. Eventually it did stop dropping; people started putting money into this sector, and it leveled off.
What I learned is that successful investing in a bear market takes patience and caution. When you do make an investment, make sure you’re betting on good people.
July 28–31
TGR: One of the things Rick Rule always says is that he’s waiting for capitulation. How can you tell if we’ve had capitulation, and what causes it?
BC: I don’t think we’re going to see a capitulation moment; I think it will be more gradual. I see it in my newsletter subscribers. Most of them have been around for a long time, but in the last few months, people who have been with me from the beginning have started falling by the wayside even though we had a 16% gain last year and we are not doing too awfully bad so far this year. They all say they will be back as soon as the market turns. This is what it starts to look like on the bottom.
“Asanko Gold Inc. is well positioned to be in production when the market turns.“
I envision …read more