Today one of the wealthiest people in the financial world spoke with King World News about the shocking things that he witnessed at PDAC, and how the biggest money on the planet is now looking to get into the gold and silver sector. Regarding PDAC he stated, “What was of interest to me was the level of panic present at the place.” Rule also let KWN readers know invest to make fortunes right now in the gold and silver markets.
Here is what Rick Rule, who is the CEO of Sprott USA, had to say about creating great wealth: “The opportunities that are in front of me are so fantastic that it’s hard to focus. I am still interested in the developmental stage juniors, the ones that are financially accretive. I am also focused on explaining to investors that the pullback in bullion prices, never mind the bullion related equities, is a sale.”
“It’s a cyclical decline in a secular bull market. It’s very, very important for investors to understand that. We like the uranium space. We also love the palladium and platinum space. As the outside market conditions appear to most people to be getting worse and worse, for us they are getting better and better.
As you know, Eric, we are not investment bankers in the classic sense, we are investors. We are check writers, and we see a situation where goods are on sale across a broad spectrum where we participate….
“But we see so much opportunity out there that it’s almost difficult to segregate on behalf of clients the opportunities. That’s how broad the opportunities are today.
Eric, I’m just back from PDAC and I think it’s a wonderful indicator. Reports said that there were 30,000 people present at the show. What was of interest to me was the level of panic present at the place. Would be issuers could not raise money, and service companies suggested that their order books were drying up.
At the same time, Sprott (the company) was approached by retail money, small institutional money, and some of the largest investors in the world saying, ‘We understand your message that selective stuff is cheap and we would like to participate alongside Sprott. We like the fact that you invest your own money.’ Understand that when I say, ‘largest investors in the world,’ I mean some of the biggest pools of capital and wealth on the planet that are looking to enter these markets.
So I just see this absolutely spectacular confluence of need and smart money, surrounded by broad, public capitulation in the sector. I can say without qualification, Eric, that this is the 30th PDAC I’ve attended, and from my personal point of view this one will go down as the most productive. That’s a strong statement because in other bear markets such as 1990 to 1992, and 1999 to 2001, PDAC was extremely productive for me.