The #resource sector is full of bullshit low grade and otherwise uneconomical projects promoted by charlatans seeking to raise capital to pay their salaries and grant themselves options which they monetize constantly
They say 1 in 10,000 deposits become a mine. The best results will be from following management teams with experience and a current plan to advance an asset and sell it to a major.
10+ years at Sprott. I’ve seen what happens when some have too much capital and can no longer be selective. The firm often invested in things I personally deemed pieces of shit
I feel I should dispel the myth. Cause if someone where to look at the history the firms wins quickly turned to massive losses in the down turn. I remember laughing at the shit Phillip Richard’s bought at RAB capital and we weren’t much better
The problem with so many firms is that they decide to value aum or performance and then it all goes to shit. Since being on my own I struggle to find 10 names I actually like and trust at anyone one time
There is probably a 99.8% chance that all the resource shitcos you know and love will be obliterated in the next bear. Few will tell you this or admit that they are riding what they know is shit.
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