Sprott insider is bullish on Aussie miners
It’s day two here at the Sprott Natural Resource Symposium.
Already we’ve talked bull markets and bear traps.
The outlook for uranium (Rick Rule is very bullish).
The future for copper (not enough for the future).
And the lack of investment in exploration for all the minerals we need…
The surprise hot tip
Of all the presentations on Tuesday, there were two that stood out.
The first was a panel discussion between geologists and analysts, with Rick Rule as the moderator.
Rick noted that when it comes to the mining sector, it’s been ‘underinvesting and misinvesting in commodity projects’ for some time.
In other words, company haven’t been spending enough money on exploration, and have spent money on some projects that didn’t deserve the attention.
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Yet the panel agreed that this misallocation of capital means there is huge potential for exploration stocks to surprise punters.
Simply put, people aren’t looking at exploration stocks because they are high risk. However, exploration is vital to ensuring a mineral supply for pretty much everything we need.
On that, Rick asked the panel to name a hot tip. Pick a company, not here, and tell the crowd why you’re watching them.
Three of the panel members named dropped tiny exploration stocks listed on a Canadian exchange. However, a Sprott analyst said while he thought the Canadian explorers were exciting, they weren’t getting most of his attention.
Instead, he said that Australian miners and explorers were where investors should be looking. According to this analyst, we are enjoying a ‘golden age’ of mining…
And finally, that brings me to the standout presentation for the day.
Andy Schectman, President of precious metals dealer Miles Franklin, gave the crowd an inside look at how the precious metals price is manipulated, and the increasing de-dollarisation among central banks. He pointed out that perhaps the last thing investors want to do is have all their assets in the US dollar.
That’s all I have time for today. I have a bumper schedule ahead of back-to-back interviews with some of the brightest minds almost no one has heard of.
Until next time,