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Thursday Conversation - Rick Rule

62

As the bull market for precious metals continues, many are frustrated by the underperformance of the mining sector thus far in 2020. To that end, here's legendary resource investor Rick Rule to help shed some light on this topic.

Many of you are familiar with Rick and his team at Sprott Asset Management. If you are looking for guidance and assistance in your resource investing, they are certainly top-shelf. So it was great fun to get caught up with Rick and ask him to address these three, primary points:

  • Where are we in this renewed bull market for precious metal?
  • Which size/type of mining company is currently in favor?
  • What will it take to draw institutional money to the sector?

Additionally, at the end of the podcast, Rick offers an email address where any listener can send him a list of resource stocks and he will reply with his current thoughts on each. He'll also send you two important charts so, if you're interested, be sure to contact him at rankings at sprottglobal dot com.

Thanks again to Rick for so generously sharing his time and expertise in this podcast. I'm confident that you will benefit greatly by listening.

TF

  62 Comments

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AIJ Tahoemavens
Feb 21, 2020 - 9:00am

Brave Browser

I would recommend Brave Browser. You can sign up for a crypto wallet and earn BAT Tokens while browsing....not a lot but it's something.

Texas Sandman
Feb 21, 2020 - 8:40am

monkeys going to work on Ag

JP Morgue monkeys spoofing their little hearts out...

Feb 21, 2020 - 8:37am

total palladium OI now under 20,000

this is what a dying fractional reserve "market" looks like

Feb 21, 2020 - 8:25am
Feb 21, 2020 - 8:24am

thanks all for the extra KL info

will ask Eric this morning and post audio as usual immediately into the comments. In an hour or so.

bently
Feb 21, 2020 - 8:17am

At the risk of asking the world's dumbest question....

Could this be the beginning of the cartel capitulation?

I recognize that total cynicism is always warranted and merely entertaining this thought may be folly, but still -- what we're seeing seems unprecedented.

AvgAmerican
Feb 21, 2020 - 8:12am

KL data points

IKN post of this morning may cite the root cause of KL fall from grace.

https://incakolanews.blogspot.com/

Kirkland proceeded to spend a bucketful of cash exploring Fosterville, Swan etc, in order to increase resources and reserves. Which brings us to today:

  • At Fosterville P+P reserves are down 610,000 oz.
  • At Fosterville P+P grades are down from 31 g/t to 21.8 g/t
  • At Swan, reserves are down from 2.34m oz to 1.56m oz
  • At Swan, reserve grade is down from 49.6 g/t to 38.6 g/t

All with no meaningful increase in inferred resources. In plain English, the exploration program at Fosterville in 2019 was a bust, the mine is now facing depletion and I wish I could find those quotes of Makuch's about how Fosterville could finish producing 100m oz.

Texas Sandman
Feb 21, 2020 - 8:10am

$18.50 close today?!

Could happen... Silver looking good.

DeaconBenjamin
Feb 21, 2020 - 8:04am

Gold at

1638, almost 1639.

Benitho
Feb 21, 2020 - 7:19am

EGO out with earnings and updates today

and strong pre-opening, maybe they can buck the recent trend ?

back above 8 USD currently, fingers crossed.

My top 4 holdings are KL, PVG, BTG and EGO, would be nice NOT to make it 3 out of 4 beatdowns.

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