John emphasizes the belief that this period parallels the mid-70s bull market correction, and when asked about the depth of the current sell-off, noted that, “I don’t think I’ve ever seen, in the 40 plus years I’ve been following the sector, the shares cheaper in relation to the price of bullion as they are now.”
The report, based on responses from 108 buyers and decision-makers across 100 mines in 16 African countries, shows most plan to acquire equipment and maintenance services.
During a time where the pain of downward pricing has spilled from minerals into the energy sector, Rick Rule, Chairman of Sprott U.S. Holdings was kind enough to share a few comments.