Rob McEwen: Quick Move Up in Gold Coming in the Not too Distant Future!

The move in gold can be very quick. I’ll give an example; We hit lows in July of this year and then in the month of August, metal prices turned around. The price of gold was going up but the mining stocks just took off. There were gains of 25%, 75%, 100% in the sector in the space of less than 20 days.
It illustrates how we can move from a market that’s operating basically on a no-bid basis where no one wants to buy, to suddenly getting into a space where no one is offering any stock and prices are forced up as a result of that. I’m quite convinced we’re going to see that again in the not too distant future, and that’s what makes it exciting in this space.”

 

 

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Submitted by Tekoa da Silva, Bull Market Thinking:

I had the great opportunity recently to reconnect with the founder and former CEO of GoldcorpRob McEwen. He is now the Chairman and Chief Owner of McEwen Mining.

It was an interesting discussion, as Rob indicated we are very close to a significant turnaround in both metals and mining shares, to which the speed of recovery coming out of this bear market, will be absolutely dramatic.

Starting out with an expected catalyst for recovery of the mining sector, Rob said, “The next run in this market is going to be [driven by] gold moving higher…You look at the broad market right now. The stock market is quite high at the moment and on a relative basis, gold is very cheap. So I think some investors will be looking at relative value situations and saying, ‘Maybe I should have some gold in my portfolio now.‘ It’s off quite a bit from its highs, and I still believe our monetary base is being debased and one needs to protect their capital…[so for that reason] I don’t think there’s much more on the downside in gold—maybe five percent.”

In discussing the speed at which a turnaround can occur, Rob noted that, “It can be very quick. I’ll give an example; We hit lows in July of this year and then in the month of August, metal prices turned around. The price of gold was going up but the mining stocks just took off. There were gains of 25%, 75%, 100% in the sector in the space of less than 20 days.”

That blinding recovery according to Rob, “Illustrat[es] how we can move from a market that’s operating basically on a no-bid basis [where] no one wants to buy, to suddenly getting into a space where no one is offering any stock and prices are forced up as a result of that. I’m quite convinced we’re going to see that again in the not too distant future, and that’s what makes it exciting in this space.”

With respect to questions investors should ask themselves and of the CEO’s they invest in—before putting down their capital—Rob advised to consider, “What is their commitment in terms of the time, attention, and effort they put in?…Are they backing their words with their [own] money?…[D]o they have some competitive advantage? Is it a high grade deposit or is it a low cost deposit that gives them margins that allow them to survive downturns such as we’re experiencing now? Is there room to grow?…[and] what have they done before?”

Despite pain experienced by investors over the last few years, Rob concluded that, “I think right now [is] when you should be looking [at the mining sector] because there are going to be some good stories [ahead].”

This was another outstanding interview with one of the great mining wealth-builders of our time. It is required listening for serious investors and market students.

To listen to the interview, left click the following link and/or right click and “save target as” or “save link as” to your desktop:

>>Interview with Rob McEwen (MP3)

 

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Comments

  1. How many times have we all heard about the coming soon moves upward in Gold and Silver? Highly Speculative Notions!!!!!

    • These bullshitters may continue with the nonsense for years to come. Rob calls this a “market”. This is no ‘market’ here, as there are just government price control interventions. Demand and supply (which is what free markets are all about) of gold is not an issue here, just demand and supply (unlimited) of make-believe paper gold that gets created out of thin air whenever they choose.

      “Sovereign Economist says:
      December 12, 2013 at 2:28 PM
      The first mining CEO that gives an interview and acknowledges the manipulation and the PTB campaign to force miners and the prices into the ground will get my vote….”

      I agree.

  2. The first mining CEO that gives an interview and acknowledges the manipulation and the PTB campaign to force miners and the prices into the ground will get my vote….
     
    For being truthful.  As for buying his company stock… Meh… Dangerous.  Because were he to tell the TRUTH, they would either kill him or have his mining interest shut down or destroyed.

    • I predict an unusual mining disaster (C4 induced collapse?) would solve that problem rather neatly.  No chemical analysis of the area needed, of course.  As a side bennie, we would then have the “See, we told ya that mining was dangerous and that gold is more trouble than it is worth” PR campaign.

  3. @4 OZ where are you buddy, here is a chance to recover from our last mining stocks fiasco. Are you In? LMAO

    • Noooooooooooooooooooooooo
      Thinking the big banks are going to foreclose on mining companies….and if they don’t mines will get nationalized… Siticking with Phyzz….like I’m told to on the Silver Recliner Report….

    • @Marchas45,
       
      I just finished reading a book titled Gold Wars The Battle Against Sound Money As Seen From A Swiss Perspective by Ferdinand Lips.  I found it interesting that in the past, due to PM manipulation, the mining companies would hedge so heavily, they were actually hurt by higher gold and silver prices.  I wonder if that is still the case?

  4. I open the site today in time to read 2 articles in a row titled: Gold Will Plummet to $500! The MSM’s “Open & Shut Case” & Rob McEwen: Quick Move Up in Gold Coming in the Not too Distant Future!
    Does any body know a good shrink who has fair pricing?  I think I am going schizophrenic. These articles are far worse than the chemtrails up in the murky sky above me.
    schiz·o·phre·ni·a
    /ˌskɪtsəˈfriniə, -ˈfrinyə/ Show Spelled [skit-suh-free-nee-uh, -freen-yuh] Show IPA
    noun
    1.
    Psychiatry. . Also called dementia praecox. a severe mental disorder characterized by some, but not necessarily all, of the following features: emotional blunting, intellectual deterioration, social isolation, disorganized speech and behavior, delusions, and hallucinations.
    2.
    a state characterized by the coexistence of contradictory or incompatible elements.

  5. llet me get this straight… a guy who is in the mining business and who OWNS a MINE is telling everyone a quick move up in gold is coming.. and no one thinks conflict of interest or biased call??
     
    HMM>>> wonder where eric sprott is with his silver shortage theory, or Rick Rule telling people to buy juniors two years ago because THEY WERE A SUPER VALUE DEAL lol 
     
    yep 
     

    • Yanno folks, we can joke and criticise and complain about the McEwen’s, the Sprott’s, the Rule’s of this business and the others of their ilk in there with these guys, but you have to realize these are not stupid people.  They didn’t make the tons of money they have by being ignorant fools.  They know how the game is played and they are in the trenches every day. They worked hard and they worked smart and now, even THEY are being taken and bamboozled by the banker BS.  Personally, I think it’s a real testament to the incredible success of the globalist criminal banker syndicate’s campaign to keep themselves in power that they have been able to execute their agenda with as much success as they have.  It just serves to remind me of how high the stakes are for these banker scumbags and their political lackeys.  You can’t help but realize just how desperate they are to maintain their power and avoid that long fall to the end of the rope…  That said, their garbage WILL end one day as history has a reputation for being pretty ruthless when all is said and done.

    • @Sovereign Economist
       
      I am waiting for both the banksters and their bottom-feeding pet politicians to suffer their “Weapon Shops of Isher” moment.  Imagine a world wherein coercion cannot be used upon the common man and that to get him to do anything REQUIRES that he give his consent.  That would absolutely HAVE to be their version of Hell.  lol
       

  6. All of the Sprott apologists are making me chuckle………’but you have to realize these are not stupid people.  They didn’t make the tons of money they have by being ignorant fools.  They know how the game is played and they are in the trenches every day.’
    Not ‘stupid people’ because they are not losing their own funds. The ‘ignorant fools’ are those that handed their funds over to them. ‘They know how the game is played’….precisely!!
    ‘Fool me once, shame on you. Fool me twice’………………………………………
     
    After Sprott closes the vehicle which lost $100′s millions this year alone, makes you wonder just what will make people understand WTF is going on!
     
    Where is Bay of Pigs, I could do with a belly laugh rather than a chuckle.

    http://online.wsj.com/news/articles/SB10001424052702304202204579252301187881402

    ‘Redemptions and weak performance have pushed down hedge-fund assets managed by Mr. Sprott to about $350 million from nearly $3 billion in 2008.

    The declines are largely due to the conviction of Mr. Sprott—for the most part unshaken—that gold and other precious metals will rise in the long term.’

    • I do not know how and why the Sprott Fund lost. But I and my personal fund has not lost anything. I have the same amount of gold and silver, which I bought. And I constantly increase my stack.
      The gold, which I bought 10 years ago, today has brought me 300% (if you count in U.S. dollars or in the toilet paper, which is essentially the same thing).
      And I remember very well, as 10 years ago – in 2003, all media were shouting that buying gold it is bad, stupid and useless. LOL.

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