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"The more I learn, the more I realize how much I don‘t know." (A.E.) | Always Do Your Own Due Diligence.
The 2017 Vancouver Resource Investment Conference (“VRIC”) carried a tone of optimism that wasn’t present a few years ago, and the smiles that lined the faces of both exhibitors and attendees indicated that mining had returned from the depths of the abyss it had slipped into back in 2011.
In fact, famed author and professional investor, Doug Casey, was emphatic that the stratospheric prices we witnessed before the collapse of the last super cycle were bound to return by 2019.
He wasn’t the only one with enthusiastic verve.
Mining investment icon, Frank Giustra, spoke to a full house during his forum on Sunday, leaving his audience with some choice words of wisdom.
Aufgrund diverser Empfehlungen von einflussreichen Experten hält das Kaufinteresse bei LithiumX (V.LIX) an. Letzte Woche fand auch erneut ein Site Visit mit zahlreichen Branchenvertretern, Investoren und Journalisten in Nevada statt..
BlackRock Inc.’s Evy Hambro, the most influential shareholder in mining (Photo: Mines and Money)
“Anybody who says that the super-cycle is over is an idiot, it’s just been deferred for a little bit”, mining tycoon Robert Friedland told a packed audience in London last week.
I was there for the 12th annual Mines and Money show. And if you’re in the mining business and haven’t been to London lately, the Mines and Money show is a great excuse to visit one of the world’s most colourful cities. I thoroughly enjoyed the high tea, fish and chips, pints at the pubs, and of course the conference, which was held just outside the glitzy Mayfair area.
Many of the mining industry’s leaders presented at the conference, including:
Evy Hambro
Clem Sunter
Robert Friedland
Mark Bristow
Frank Giustra
Ross Beaty
The event was very well attended, considering the ticket price to get in isn’t cheap (~$3,000). Not surprisingly, the crowd was made up of mostly highly motivated fund managers, investors and analysts.
Among the attendees were some of the largest money managers in the natural resources sector, including Evy Hambro of Blackrock and Neil Gregson of JP Morgan, as well as representatives from most of the bulge bracket and boutique banks..
Der legendäre Unternehmer und Multi-Milliardär Frank Giustra, der schon etliche weltklasse Deals im Minensektor abschloss, erhöht seine Beteiligungen am kanadischen Explorer Klondike Gold (TSX-V:KG) via der letzten Privatplatzierung.
Giustra hält über seine Beteiligungsfirmen nun rund 18% der ausstehenden Aktien und betreibt bei Klondike ganz klar "bottom fishing", nachdem der Aktienkurs der Juniorfirma um mehr als 95% seit den Hochständen gefallen war..
Klondike Gold Announces Closing of $2.35 Million Equity Financing
Vancouver, British Columbia, Canada, November 20, 2014, Klondike Gold Corp. (TSX.V:KG) (“Klondike Gold” or the “Company”) is pleased to announce that the Company has closed its previously announced non-brokered private placement financing (the “Financing”) (see news release October 2, 2014) of 3,125,000 flow through shares (the “FT Shares”) at a price of $0.20 per share for proceeds of $625,000 and 9,568,082 non-flow through units (the “Units”) at a price of $0.18 per unit for aggregate gross proceeds of $2,347,255. Each Unit consists of one common share and one common share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase one common share at an exercise price of $0.20 per common share until November 17, 2017. The securities issued in connection with this Financing will be subject to a statutory hold period of four months and a day which expires on March 18, 2015. Finder’s fees associated with the Financing were paid in cash to Red Plug Capital in the amount of $27,414.00.
The net proceeds raised through the Financing will be used, in the case of the FT Shares, to incur “Canadian exploration expenses” in respect of the Company’s Yukon properties as defined in the Income Tax Act (Canada) as well as, in the case of the Units, for exploration and development of Canadian mineral properties and for general working capital purposes.
“I am very pleased with the response to the financing and appreciate our investor’s interest in the offering which is a positive comment on the quality of our exploration properties” said Peter Tallman, President and CEO of Klondike Gold.
The Company also announces that pursuant to this transaction, Fiore Financial Corporation, a Company owned and controlled by Frank Giustra, acquired ownership and control of 1,580,389 Units at $0.18 per unit, representing 4.93% of the issued and outstanding common shares of the Company. The Radcliffe Foundation a Company controlled by Frank Giustra, acquired control of 887,239 Units at $0.18 per unit, representing 2.77% of the issued and outstanding common shares of the Company.
As a result of this acquisition of securities described above, Fiore Financial Corporation, a Company owned and controlled by Frank Giustra, Frank Giustra personally, and The Radcliffe Foundation a Company controlled by Frank Giustra, hold in aggregate, 5,677,378 common shares of the Issuer, representing 17.74% of the current issued and outstanding shares of the Issuer and would own 8,145,006 common shares, representing 23.63% on a partially diluted basis, assuming exercise of the 2,467,628 warrants held by Fiore Financial Corporation and the Radcliffe Foundation. Frank Giustra together with his joint actors, has acquired the units for investment purposes and, as disclosed in the Early Warning Report accompanying this news release, may in the future acquire or dispose of securities of the Company, through the market, privately or otherwise, as circumstances or market conditions warrant..
New York City (Kitco News) - There is a reason to hold gold but patience is a virtue, said Frank Giustra, renowned resource investor and co-founder of the Clinton Giustra Enterprise Partnership.
"All the reasons why gold went to $2,000 in the first place are still there, and in spades," he said during an interview with Kitco News’ Daniela Cambone at the Clinton Global Initiative annual meeting on Tuesday.
Gold is currently stuck in a 'no one cares phase' but his views on the metal remain unchanged he said on the sidelines of the annual meeting in New York.
"Nothing has changed fundamentally to tell me in any way that one should divest of their gold position," he said. "I just think you have to have some gold in your portfolio because currencies are being devalued by money printing worldwide."
Frank Giustra, co-founder of the Clinton Giustra Enterprise Partnership and CEO of Fiore Financial talks with Kitco News during the 10th annual Clinton Global Initiative annual meeting, in New York City.
Looking ahead, Giustra, who is also the CEO of Fiore Financial, said that he does not expect to see a robust U.S. economy once the Federal Reserve ends its quantitative easing program. Last week, following the Federal Open Market Committee Meeting, Fed Chair Janet Yellen confirmed that central bank intends to end its monthly bond-purchase program in October.
"I think the accommodative policy that's been in place for a number of years now is going to have to continue in some fashion, and that's always good for gold," Giustra argued.
Catching the Canadian investor's attention these days are the gold mining stocks.
"For many years I liked physical [gold]," he said. "But now, what's happened in the last couple of years with this very severe bear market in the mining sector is that the gold stocks are becoming much more interesting," said Giustra who also serves as an advisor for Endeavour Mining.
Giustra, remains optimistic for gold, ending off the interview with one clear message:
"I think we're in the middle of a very long-term bull market in gold […] the situation hasn't improved, in many cases it's gotten much worse, so there is a reason to hold your gold.."
Henry Bonner @ Sprott Thoughts mit den neusten und wie immer lesenswerte Zeilen von und über Frank Giustra.
Frank Giustra: I Was Early But I'm Still Buying
Sprott's Thoughts - Friday, September 19, 2014 - Henry Bonner-
A few weeks ago, we heard from Pierre Lassonde of Franco-Nevada on the power of the royalty business model. Just recently, I spoke with another ‘superstar’ of the natural resource industry -- Frank Giustra.
Mr. Giustra started out as an assistant trader and then became a stockbroker at Merrill Lynch in his early career. He later went on to join Yorkton Securities, where he helped launch a new branch geared towards financing resource companies in Europe. He is now an advisor to major gold miner, Endeavour Mining Corporation.
As we discuss in this interview, he’s a serial entrepreneur. In the late 90’s, he founded Lionsgate Entertainment - the company behind The Hunger Games and Michael Moore’s Fahrenheit 9/11. The company had over $2 billion in revenue in 2013, and owns the rights to the hugely successful Twilight movie franchise and The Expendables series, among other big blockbuster titles.
Leaving movies for another day’s topic, we went on to discuss his views on the mining sector, though he did leave me with his quick take: “Making good movies is tough -- more an art than a science. It’s easy to get sucked into bad projects by people in the movie industry. You have to be on your guard.” Probably useful to remember when looking at small-cap mining stocks too.
“What’s your view, as an investor, on the resource market?” I asked.
“Wow, that’s a general question,” he laughed. Luckily, he indulged me with a response: “first off, the market does look like it’s past the bottom. Second, you still have time to implement a ‘simple’ contrarian strategy -- buy real, proven, assets cheaply and wait for them to be re-priced by the market.
“Many assets are on the market today that bear little risk to investors, but are trading well below their fair value because of the severity of the bear market. When an asset has already been studied and understood, analysts can come up with a good estimate for the value of the resource – a mineralized ore body – that is in the ground. In a very bad bear market, these assets trade cheaply – but it has nothing to do with the merits of the asset; it’s all about the market’s attitude towards resources. ‘Buy right, sit tight.’ Once you’ve bought the right assets, just wait for the market to re-value your asset higher.”
Can you buy safely, knowing the bottom is likely behind you?
Unfortunately, even for a veteran, serially successful investor like Mr. Giustra, you can get the call wrong:
“You can never pick absolute tops or absolute bottoms. Nobody can do that. I called the bottom a couple of years too early. What have I done about it? If you pick the bottom at the wrong time, and the market keeps getting cheaper, you can keep buying if you have the cash – but don’t ‘average down’ into bankruptcy. Your approach will depend on your financial situation. In 2013, I had the cash, so I averaged down.”
What about backing exploration companies that are looking for new deposits – the early-stage exploration juniors?
Mr. Giustra said the exploration stocks would be the last ones to rally in a recovery, so he was focusing on developed assets for now. When money begins to enter the resource sector, the first assets to go higher will be low-risk assets that have already been thoroughly explored and delineated. Those assets will get bought up by investors, or taken out by mining companies to get put into production.
“Exploration will have its day later in the cycle, but it’s just way too early for those companies for me,” he said.
What do you do after mining finance and major movie production? I asked whether there were any more major projects in the works.
“Yes,” he said, “for a long time, I’ve been interested in the healthy, natural food sector. I’m trying to tap into a new trend, which is especially popular among a younger generation. There’s demand for food that comes from ‘natural’ farming practices – not the feedlots and heavily industrialized agriculture that uses GMOs, pesticides, hormones and antibiotics. I’m involved in branding, packaging, production of these types of foods – I even started a magazine called Modern Farmer that’s geared towards people in this demographic.”
Mr. Giustra spent part of his childhood in Italy. Now, he owns an olive oil producer that makes olives in Italy and ships them to North America. His brand, called Domenica Fiore, was rated the top olive oil at a global competition in New York. And he ‘eats his own cooking’ – “I’ll use olive oil over butter any day,” he says. “So I make the best olive oil in the world. It’s my own little thing.”
The last subject we touched on was the state of the dollar and bonds, and whether he had any worries about the outlook for the US economy.
“I think that the general stock market, the dollar, and bonds are in for a severe correction,” he ventured. “If there’s one thing I’ve learned from my career it’s that there are consequences to economic decisions. At some point down the road, there will be consequences to massive money printing and bond-buying. For now, those consequences have not been very negative, but there are always adverse effects. There’s a downside, and I think we will experience that in the form of major economic disturbances going forward. Will it come in the form of hyperinflation? Depression? I don’t know. But there is a price to pay – and I think it’s going to be severe.”
Aufstrebende Story im kolumbianischen Ölsektor: Petroamerica Oil - Frank Giustra's Liebling bricht aus Geduld, Durchhaltevermögen und ein starker Fokus auf hohe Qualität inkl. starker Fundamental-Daten zahlen sich im Rohstoff- und Minensektor langfristig nahezu immer aus..
Geduld, Durchhaltevermögen und ein starker Fokus auf hohe Qualität inkl. starker Fundamental-Daten zahlen sich im Rohstoff- und Minensektor langfristig nahezu immer aus.
Ganz besonders aber wenn es um eine Story geht, welche vom schillernden Erfolgs-Unternehmer Frank Giustra (Forbes-Profil) bedeutend unterstützt wird.
Eine weitere Gewinner-Story ist im kolumbianischen Ölsektor gerade am Entstehen und Frank ist hierbei signifikant seit längerer Zeit engagiert. Nun steht der erste große Ausbruch seit geraumer Zeit zur Buche, der auf die jüngste, erfolgreiche Übernahme von Suroco Energy (Juli) folgt.
Gemeint ist die Wachstums-Geschichte um Petroamerica Oil (TSX-V:PTA) und diese war, ist und bleibt Frank Giustra's aktueller "Big Bet" auf einen weiteren Aufwärtstrend im florierenden Öl- und Gas-Business des rohstoffreichen Südamerika-Staats.
Neben Petroamerica in Kolumbien setzt Giustra im Ölsektor gerade auf die Turnaround-Story um Petromanas Energy (TSX-V:PMI), die in Albanien in wesentlich schwierigeren "Fahrwassern" aktiv ist.
Wie so oft gilt vor allem in der zyklischen und hochvolatilen Rohstoff- und Minenbranche: Es ist ein harter und steiniger Weg zum Erfolg - aber das weiß Frank so gut wie kaum jemand - und genau diese eiserne Disziplin, seine eingefleischste "Contrarian-Rolle" und seine große Visionen zeichneten ihn immer besonders aus.
The Ups and Downs of Frank Giustra’s Oil Businesses
POSTED ON August 25, 2014 BY Tommy Humphreys
CATEGORY Petroamerica Oil, Petromanas Energy,
Frank Giustra in focus in Haiti, photo @Frank_Giustra
Accomplished natural resources investor Frank Giustra has two long term investments in the junior energy sector, Colombian focused Petroamerica Oil (PTA.v), and European focused Petromanas Energy (PMI.v).
Disclosure note, I own both of them.
In early trading Monday, one of these companies was climbing strongly, while the other was heading in the wrong direction.
Confirmed breakout for Petroamerica Oil (PTA.v)
We have tracked the Colombian focused Petroamerica for 2 years and a week on this blog, since its grown from 1500 boepd to 6000 +. With the acquisition of Suroco Energy in July, production was expected to climb to 9000 bopd+ on the way to 30k bopd, according to a Bloomberg article..
Cambridge House keynote panel with Frank Giustra, Frank Holmes, Rick Rule and Murray John
Posted on January 24, 2014 by Tommy Humphreys
Four of the biggest names in commodities finance face-off to discuss the state of the global economy and where stocks are going. Includes Fiore Financial’s Frank Giustra, Sprott’s Rick Rule, US Global Investors’ Frank Holmes and Murray John from Goodman & Company. A must-watch..!
