Rob McEwen is one of the most well respected professionals in the precious metals business. He built Goldcorp into one of the world's biggest gold mining companies, with the lowest mining cost per ounce. Now he runs the junior exploration mining company, U.S. Gold. When I first got into this sector over 8 years ago, Goldcorp was a $2 stock. It's now over $40 and pays a monthly cash dividend. I think it's safe to say that McEwen's views should at least be taken into consideration and respected.
Rob was interviewed on Bloomberg yesterday and said he believes gold will hit $2000/oz in 2010 and eventually hit $5000/oz. in the 2012-2014 timeframe. I know a few years ago McEwen was the first visible mining executive to call for $1000 gold. This interview is short and worth watching (kudos to Ed Steer at Ed Steer's Gold & Silver Daily): VIDEO LINK
Wednesday, January 13, 2010
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