In reply to TheSupremeCommander, I have attached an extract from FNN, of an interview with Rick Rule, the Chairman of Sprott US Holdings on 18 December.
Q. In Australia the mining sector does dominate and you’ve been quoted as saying, “Now is a once-in-a-decade opportunity to stock up on the best junior miners.” Who are your hot tips?
Rick Rule: "Well I wouldn’t want to give too many names – although you can see us on the registers. But here’s my tip – About once every ten years Australians on mass go on strike. They walk out of the mining sector in terror. And when that happens even an old slow guy like me can come in the market and make a lot of money.
For seasoned speculators I think the higher quality juniors, if the speculator is prepared to stay the course for two or three years – will yield spectacular gains.
The nature of the business through a decade, is that when you go over the edge into a bear market your portfolio falls by half, or 75 per cent, in some cases. Coming back out the other side, and day always follows night, those same portfolios are up 500 per cent or 1,000 per cent.
Having lived through the pain, why not stay for the gain."
BAU Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
