Great Article showing insight into Sprott’s View on Gold Six Reasins to own Gold Equities Now - Sprott Special Report May ,22/20
They are definitely. Bullish on gold ..Given their conviction ,you can understand why they see value in ESM and why they saw fit to invest sufficient cash to to insure FS is completed.. This would then deriisk project and make it attractive to buyers.
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Key excerpt from reason 4
It is far cheaper for seniors to buy new gold production than to build capacity themselves.Based on analysis of recent transactions ,there is a 35% discount for buying ounces in the market via acquisitions versus discovering new ounces( according to Scotia Bank) Buying reserves eliminates the time and uncertainty associated with exploration