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01:28
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Originally posted by Arh0070
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Eric Sprott made an interesting comment on his weekly podcast this week about reserves in the ground .He indicated that 10 million ounces in the ground was worth between 500-1 billion dollars .As far as I can tell DEG is nowhere near that number .He has several favorites which he often talks about ,companies with that level of potential reserves which are worth significantly less than that and those explorer companies are the ones that he buys hoping to make 5-10 times his money .He is, I think probably the most successful resource investor in this space ,buys low and sells high .Not the opposite .Deg of course was that company at 5-10 cents ,not anymore .Many explorer companies had significant corrections last week making some of them good buys ;not DEG in my personal opinion .
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sprott and makuch got this totally wrong and don't want to talk about it, they could have backed up an iron ore train and loaded it up last year @5c and become the miner of the biggest gold deposit in the pilbara, instead they were blinded by golden corn flake stories from their mate quentin and parted with $100m, if i was a kirkland lake shareholder i would be asking the question of management "how the hell did you miss this, and then ignore it?"
(20min delay)