Pierre Lassonde
-was President of Newmont Mining Corp. from 2002 to 2006.
-Co-founder and Chairman of the original Franco Nevada Corp.
The first gold royalty company.
-Past Chairman of the World Gold Conuncil.
For the past 18 months we had a typical midsize correction of the
price of gold,his thoughts are that we are still in a long run bull market for
gold.
Gold is the anti-dollar,if central banks of Japan, US, the ECB,UK, etc, keep their policy of
printing money. At the end of the day what you are going to see is the debasing of their currencies
and then gold will shine again.
In 2013 55% of all gold sold in the world came from China an India.
If the chinese economy had a sharp decrease in its rate of growth,then the price of gold could have an
important correction.
In the past decade as the price of gold went up,major gold miners went into a race of increasing
their reserves by lowering their grade cut-off. And mining engineers decided to design pits to
produce gold from these much lower grades too.
The result was that their cash costs went to the roof, 5 years ago they had a cash cost of US$700,
now it is 1000 or 1100 us dollars.
Interview by Howard Green in bnn.ca 07.06.2013
-was President of Newmont Mining Corp. from 2002 to 2006.
-Co-founder and Chairman of the original Franco Nevada Corp.
The first gold royalty company.
-Past Chairman of the World Gold Conuncil.
For the past 18 months we had a typical midsize correction of the
price of gold,his thoughts are that we are still in a long run bull market for
gold.
Gold is the anti-dollar,if central banks of Japan, US, the ECB,UK, etc, keep their policy of
printing money. At the end of the day what you are going to see is the debasing of their currencies
and then gold will shine again.
In 2013 55% of all gold sold in the world came from China an India.
If the chinese economy had a sharp decrease in its rate of growth,then the price of gold could have an
important correction.
In the past decade as the price of gold went up,major gold miners went into a race of increasing
their reserves by lowering their grade cut-off. And mining engineers decided to design pits to
produce gold from these much lower grades too.
The result was that their cash costs went to the roof, 5 years ago they had a cash cost of US$700,
now it is 1000 or 1100 us dollars.
Interview by Howard Green in bnn.ca 07.06.2013
