John Hathaway: More Takeovers to Come Within the Gold Space
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John discusses the consolidation in the big-cap miners and how this removes two of the very large cap names in the space. When you see this kind of activity there generally isn’t a lot of money going into the development of new mines. The industry at large is running out of reserves, and the pipeline of new projects is declining. There will likely be a lot of takeovers of existing small and mid-tier companies to improve these reserve portfolios.
Time Stamp Reference:
01:30 – Sector consolidation in mining.
03:00 – Apathy in the markets, U.S. fiscal situation is bleak.
06:00 – Foreign central banks have reduced investment in U.S. treasuries.
09:30 – Silver performance and why it follows gold.
11:00 – Outlook for other natural resources.
12:00 – Extreme valuations of some mining companies