With the recent price dislocation in gold, we initiated a portfolio position in Franco-Nevada. Simultaneously, we sold 1/2 our portfolio position in Newmont Mining. Investment Report: Franco-Nevada Corporation Franco-Nevada Corporation is a gold-focused royalty and stream company with additional interests in platinum metals and other resource assets including oil and natural gas. It is one … Read more
Starting with Friday’s $84 per ounce drop in gold bullion and continuing with Monday morning’s $100+ fall, gold’s sudden collapse has been unsettling to say the least. Clearly we are at a moment when negative price action is begetting further negative price action. As Jim Rogers once said, “Markets often rise higher than you think … Read more
Shares of the leading precious-metals companies have lagged behind the price of physical gold bullion so steeply in recent years that they now trade for significantly less than the value of the companies’ gold reserves. In fact, the gap is among the widest we have ever seen. Gold has risen 10% this year, but the … Read more
Newmont Mining Corporation is primarily a gold producer, with significant assets or operations in the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico. Founded in 1921 and publicly traded since 1925, Newmont is the world’s second largest gold producer. Headquartered near Denver, Colorado, the company has approximately 43,000 employees and contractors worldwide. … Read more