Now Is The Time To Look At Gold, Silver Before Prices Take Off - Mining CEO
(Kitco News) - Although gold equity companies continue to struggle to attract investor interest, one of the market’s newest gold producers is expecting it’s only a matter of time before sentiment will shift.
In an interview with Kitco News, Ken Berry, CEO of Northern Vertex Mining Corp. (TSX.V: NEE), said that there has been no better time for investors to look at commodity markets. He added that he expects interest in gold, silver equities to continue to build.
“If we are not at the bottom of a cycle then we are very close and this is when the smart money positions itself.”
Berry added while there is unprecedented potential throughout the commodity sector, investors still need to be patient.
“Right now it’s all about timing,” he said. “Will prices be higher in three months, probably not but at some point, the market is going to turn higher.
Berry added that he is particularly excited to be a gold producer as he sees strong potential for higher prices as the U.S. dollar remains in a long-term downtrend.
He added that companies like Northern Vertex, the market’s newest gold producer, will be the ones that will be able to attract investor capital.
“The market right now is very selective,” he said. “If you have a proven management team, and a solid asset then investors will pay attention and that is exactly what we have.”
Northern Vertex has gone from a junior explorer to a junior gold producer as it saw its first gold pour in the first quarter of 2018 from its Moss project in Western Arizona. Berry said that they are currently commission operations and working toward commercial production. Northern Vertex is projected to produce 42,000 equivalent gold ounces per year.
VIDEO: Liquid #gold! @Northern_Vertex continues to move forward with its goal to produce 40k ounces of #gold after it first pour in Q1 2018 | @neils_C visits Moss Mine | Stay tuned for more! | pic.twitter.com/v9OdRYqUG9— Kitco NEWS (@KitcoNewsNOW) April 20, 2018
He added that the company’s goal is to get to 100,000 plus ounces of gold annually.
Looking back, he said that while it hasn’t been an easy journey, he is looking forward to the next stage for his company.
“Once we get our production up the opportunities for growth are tremendous,” he said.
As to what will be the catalyst for mining stocks, Berry said that the continued uptrend in gold and silver prices will eventually bring investors back to the marketplace.
Berry's comments come as gold prices remain in its well-established trading range. June gold futures last traded at $1,323 an ounce, down 0.75% on the day.