Buenaventura approves bond measures, including $650 million issuance
The miner added that shareholders had approved what it called a "repurchase or rescue operation" of currently active bonds.
We caught up with Bob Moriarty, editor of 321GOLD.com this morning on his way to visit the Sierra Mojada silver/zinc project in Mexico (Silver Bull Resources, Inc.). A former American Marine fighter pilot who flew over 800 combat missions, Moriarty is also a veteran precious metals analyst, visiting dozens of mineral projects around the world each year, while simultaneously curating one of the most popular websites in the gold sector, 321GOLD.com.
On the gold and silver mining shares, Moriarty told us, “Never in recorded history have gold shares been as cheap to the price of gold and silver as they are today. Basically, the number one requirement in picking a gold stock today is pick someone with a chairman of the board whose heart is beating. The biggest piece of crap useless management drunks and wasteabouts are going to go up ten fold. (8:40).”
Production and pre production stories are Bob’s preference presently, but he still likes exploration stage companies. “When the wind is high enough, even the turkeys fly. You want to pick gold stocks, pick up a dart and throw it at the wall.” They will almost all do well, Bob believes.
“At every market top there are 100 reasons to buy and at every bottom there are 100 reasons to sell. It’s all supposed to be negative. That’s what makes a bottom,” Bob reminded me, when I suggested that the market could stay down for longer than we can.
We disagreed on the outlook for nuclear energy: “Fukushima, you used the term was [a catastrophe], I use the term is… I think Fukushimia is going to kill tens of millions of people and there is certainly a measurable chance it will be an extinction event…. It’s within our grasp now to wipe out mankind. It is not safe with today’s technology, and as such I wouldn’t touch a uranium stock with a ten foot pole.”
Our 25 minute conversation covered much more ground than this, and clearly there is a lot left to hash out with the man, and we’re excited to talk to him again. In the meantime, listen to our interview and share it with friends.
Play Interview with Bob Moriary, Editor of 321GOLD.com (MP3 link)
To learn more about Bob, visit 321GOLD.com
