Another Youtube-Video: (11) The Most Exciting Gold Story Today! 183M oz Gold, 900M oz Silver! | Rudi Fronk - Seabridge Gold - YouTube Rudys statements (abridged):
"The majors are probably the worst capital allocators out there... If you look of our industrie however all the major gold companies on the long haul have underperformed the gold price by big way. For example, Barrick, they have probably been the worst in terms of equity dilution... they destroyed share holder value by decreasing ounces of reserves per commen shares production."
He shows a slide with the headline: “Shrinking shareholder value” with the data of four majors: Barrick, Newmont, Kinross and Agnico Eagle.
For the fact that Rudy seems to be in very serious negotiations with six majors about a joint venture, Rudy doesn't exactly talk very nicely about the Barricks of this world.
If I, as a major, were sitting at the negotiating table with him and had to listen to his remarks, I would certainly not be thrilled.
Someone will have to explain the tactics to me.