Interesting comments of Eric Sprott:
" 4 hours ago | Angela East
Eric Sprott knows just a bit about how to make money in mining, so when the Canadian billionaire investor gets up to address a crowd people listen.
It was no different when Mr Sprott took the stage on the second day of the Precious Metals Investment in Symposium in Perth to provide his thoughts on the gold space.
The 73-year-old — described by Bloomberg as “one of the world’s premiere gold and silver investors” — kicked off an hour-long presentation by expressing his disgust at the underwhelming forecasts for gold.
“These guys that make these forecasts have no friggin’ idea okay — and why do I say that? Mr Sprott also pointed to how much silver is traded each day.
“Silver trades 500 million ounces a day, we mine about 860 [million ounces each year],” he explained.
“We’re trading 60 per cent of the world’s yearly production every day. Why do we trade that much when everyone hates it anyway?”...
ARD Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)