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Showing posts from December, 2018

It is wise to listen to billionaires - Part I

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When a person in the mining sector has built multiple successful companies and made over a billion dollars doing so, listening to their advice is a no brainer.  Ross Beaty is such a guy, having built Pan American Silver when he saw an opportunity in silver and Lumina Copper when he later saw an opportunity in copper.

Rick Rule recently did a great interview with billionaire Ross Beaty.  The interview is worth a read given Ross' success in the mining sector.  Here are the key statements I want to highlight for investors and managers in the mining sector:
"This business is all about high risk and high reward...In public markets, given the fact of outsized risk, you want to be looking for things with outsized returns like 100% or 1000%.""If you’re going to be building a public company, go for size. Don’t waste your time on little things.""You can have a deposit that has 100 million ounces like Pebble (Northern Dynasty). It’s almost a goose egg of value if you…