Rob McEwen: $5,000 Gold Price is 4 Years Away

TL;DR

McEwen Mining CEO, Rob McEwen, explains the strategies used to survive the mining industry downturn, predicts the rise of gold prices, and discusses the company's property acquisitions.

Transcript

I'm Teresa Maddox with the investing news network here with me today is Rob McEwen he's the founder of full court and currently CEO and chief owner of McEwen mining Rob thank you for joining me as you to be here curious so mining has had a tough few years but McEwen is now up about 300 percent in both New York and Toronto so can you tell us about s... Read More

Key Insights

• 🇨🇷 McEwen Mining's success in surviving the mining industry downturn can be attributed to their cost reduction strategies and improved operating margins.
• 😮 The rise in gold prices in currencies other than the US dollar was overlooked by many investors, leading to missed investment opportunities.
• 📈 Rob McEwen's optimistic outlook on gold prices suggests a potential upward trend in the market.
• 🛟 McEwen Mining's property acquisitions aim to enhance exploration potential and extend the resource life of their existing projects.

Questions & Answers

Q: How did McEwen Mining survive the mining industry downturn?

McEwen Mining reduced costs, deferred non-economic projects, and focused on improving operating margins without raising any capital during the downturn.

Q: When did gold prices start moving up and why were people initially hesitant to invest?

Gold prices started moving up in 2015 in currencies other than the US dollar. People were hesitant to invest due to the significant drop in the US dollar gold price.

Q: Where does Rob McEwen believe gold is headed in the next year?

Rob McEwen predicts that gold will reach the high teens and may even surpass $2,000 this year, based on the positive cash flow and improving margins.

Q: What is the reason behind McEwen Mining's property acquisitions?

McEwen Mining acquires properties adjacent to or within their existing boundaries to extend the resource life of their mines. These acquisitions come at a low cost and help improve the economics of their projects.

Summary & Key Takeaways

• McEwen Mining successfully navigated the mining industry downturn by reducing costs and deferring non-economic projects.

• The company saw a significant increase in value without raising capital, thanks to improved efficiencies.

• Rob McEwen anticipates a rise in gold prices and believes the company's property acquisitions will extend the resource life of their existing projects.