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The Australians Are Coming!

I just returned from the 2018 Beaver Creek Precious Metals Summit in Colorado (click here for presentation page) which, according to organizers, drew record attendance despite an overall sentiment that we are in a very unforgiving junior resource space for most companies and their shareholders.

The summit is a great opportunity to speak and meet with companies already on the radar, kick the tires on new companies looking to benefit from the next leg higher in the precious metals space, and exchange ideas with some of the brightest minds in the space.

Outsider Club founder Nick Hodge even scored an exclusive with Rob McEwen. Stay tuned for that.

There’s no doubt that most attendees — whether institutional funds or companies looking to attract their attention — agree that in the near term there is likely to be a bit more pain in the precious metals sector.

Which means that the upcoming tax loss selling season will likely start sooner rather than later, and that everyone should be evaluating their portfolios and figuring out which positions to hold, which to add to, and which positions to take losses on.

Resource Capital Funds' Josh Parrill who, along with VanEck gold fund and portfolio manager Joe Foster and Sprott’s own Steve Todoruk, participated in a panel moderated by Joe Mazumdar — who I had the pleasure of interviewing — was asked about the private equity group’s approach to this cycle.

He responded by saying:

”What I would say generally is that the market has been bad for many years.

"We think that we're coming out of that … [and] it's a good time to be deploying capital; maybe not a great time to be harvesting capital.

"We are prioritizing gold as an investment space.”

Let’s be clear: if you are buying in this market, you are a contrarian.

Consider that in 2017, a record $750 billion of private equity capital was raised globally. How much went into mining? $3 billion.

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MARKET SUMMARY

INDICES

Name Last Change
DOW 25340.00 100.00%
S&P 500 2767.13 1.40%
NASDAQ 7496.89 2.24%
TSX 15414.29 0.63%
TSX-V 698.60 0.00%

Resource Commodities

Name Last Change
Gold 1227.20 0.68%
Silver 14.72 0.82%
Copper 2.79 0.000
Platinum 847.86 0.57%
Oil 71.34 0.52%
Natural Gas 3.16 1.93%
Uranium 27.58 0.00%
Zinc 1.21 0.00%

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