What Bitcoin And Cannabis Did Right That Miners Didn’t

The mining industry was bested by rivaling cannabis stocks which attracted significantly more capital last year, and the miners themselves are at fault for this, said Kerry Smith, vice president and senior mining analyst of Haywood Securities.

“The leadership has to start with the seniors, the producers. We’ve had an industry over time that hasn’t delivered good returns to investors, squandered a lot of shareholder capital by making poor acquisitions and if we can’t return capital to shareholders through meaningful dividends or share buybacks or stock appreciation, then nobody is going to invest in the sector,” Smith told Kitco News on the sidelines of the 121 Mining Investment conference in New York.

Social media presence is also key, Smith said, and that is an area that newer sectors like cannabis and bitcoin have done more prominently.

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