OTCQX:BGMZF - Post by User
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chillyballson Nov 15, 2017 7:03pm
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If Gold Prices Stay....
If Gold Prices Stay.... ...there will be a problem
Joe Mazumdar Geologist & Analyst, Exploration Insights
With gold price trading at current levels, below $1,300 an ounce, one geologist says we may be running out of gold. “If the gold price stays at these levels, there’s not enough quality ounces,” Exploration Insights’ Joe Mazumdar told Kitco News at the Mines & Money conference in Toronto. The problem? There is not enough exploration, he said. “Grassroots exploration as a proportion of exploration expenditures for gold has been declining since 2003, the majors are just not doing it,” he explained. “Right now, it’s difficult to find grassroots explorers that are well valued in terms of risk-reward ratio.” (show less)