(Kitco News) - Without big backers, most juniors are going to struggle, said Luc ten Have, founder of GoldDiscovery.com
Last week ten Have spoke to Kitco Mining at the 2024 Precious Metals Summit Beaver Creek in Colorado.
Ten Have speculates that the gold equities may be entering a period of slow, sustained growth, akin to the early 2000s, rather than a rapid spike. He said a slow build would be preferrable.
"My impression is that the market is slowly building," said tenHave. "You don't really feel it yet, but it's a bit comparable to 2000 and 2001 where you didn't get that [shooting up] within half a year. All the stocks are up five or six X. 2016 was a year like that. 2020 was a year like that. I think it's better that this time it's going a little bit slower, because you don't get this six-month window and then everybody leaves again."
Ten Have noted the difficulty junior mining companies face in raising capital, despite high gold prices. Many smaller companies have not moved significantly, and while some with backing from major investors, like Eric Sprott and Pierre Lassonde, are doing well, others struggle. Ten Have emphasized that access to capital is critical for early-stage explorers, and without it, promising projects may not advance.
Coverage of the 2024 Precious Metals Summit Beaver Creek in Colorado is sponsored by Newcore Gold.
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