RE:RE:RE:RE:RE:RE:RE:Another million oz off the reserves (no economic recovery)?hammer161 wrote:
- . I would hardly call management in BGM "mining magnates". .
https://www.mining.com/topping-the-list-of-canadas-wealthiest-losers-are-two-mining-magnates-30427/]
Ana Komnenic | January 10, 2014
In the number one spot, based on percentage of wealth lost, is Eric Sprott hedge-fund manager and
major gold bug. Sprott's billion-dollar fortune declined by 17% in 2013 as precious metals prices tanked, recording their worst year in decades. But this isn't a new trend: In 2012, the billionaire's fortune shed 19%.
According to the Wall Street Journal, Sprott's flagship fund lost more than 50% over the year.
Meanwhile, the hedge-fund manager has argued that Central Banks have been orchestrating the price of gold and that physical demand is booming.
"We already have a shortage of physical gold, its just that no one knows it yet, and the banks have been supplying it," Sprott said in an interview with Tekao da Silva last month.
Despite his losses, Sprott is still Canada's 75th-wealthiest person.
Topping the list of Canada's wealthiest 'losers' are two mining magnates Ana Komnenic | January 10, 2014