Rick Rule: Current Gold/Silver Prices Not High Enough to Build New Mines

Jason Burack of Wall St for Main St interviewed returning guest, credit analyst, natural resource investor and President and CEO Sprott U.S. Holdings Inc., Rick Rule http://sprottglobal.com/ Rick has over 30 years experience investing in natural resources. Rick's bio is available here: http://sprottglobal.com/our-team/rick-rule/ During this 35+ minute interview, Jason started off the interview by asking Rick about his call on BNN in September where he said he's short term bearish and long term bullish on oil. Jason asks Rick what he means by that and if OPEC's behavior is affecting his call and whether he thinks there's a major oil bust coming soon? Rick talks about OPEC's poor track record for getting anything they want done done in the oil market with respect to production quotas and also oil prices. Jason follows up by asking Rick if oil companies are making free cash flow at the current oil price? Rick says many are not. Rick says many oil companies are drastically under-reporting their costs and compares them to primary gold and silver miners. Rick says that many primary gold and silver miners are still significantly under-reporting their all in sustainable costs (AISC) to produce gold and silver. Jason and Rick discuss the gold mining industry and common mistakes retail investors make when buying junior mining stocks. Jason also asks Rick if gold mining companies are making free cash flow at current prices and if new primary gold and silver mines will be built at current prices? Rick talks about the Sprott Gold Miners ETF and the Sprott Junior Gold Miners ETFs. Next, Jason asks Rick about Sprott Inc and how Sprott has partnered with the ICE Exchange in order to try and create a new gold futures contract that will only settle in physical gold. Rick talks about how this new venture also aims to go after large pools of capital (pension funds and institutions) and offer them similar services to Gold Money. To wrap up the interview, Jason asks Rick about the craziness of the Federal Reserve and academic, PhD Keynesian Economists, the 2016 election and when markets like uranium and copper will bottom? Please visit the Wall St for Main St website here: http://www.wallstformainst.com/ Follow Jason Burack on Twitter @JasonEBurack Follow Mo Dawoud on Twitter @m0dawoud Follow Wall St for Main St on Twitter @WallStforMainSt Also, please take 5 minutes to leave us a good iTunes review here! https://itunes.apple.com/us/podcast/wall-street-for-main-street/id506204437 If you feel like donating fiat, Bitcoin, Bitgold, gold or silver, Wall St for Main St accepts donations on our main website. Wall St for Main St is also available for personalized investor education and consulting! Please email us to learn more about it!

Comments

1. awesome interview Jason
2. As someone that's looking at learning more about resource/mining companies. I found that this interview was really insightful.
3. Either you Guys are VERY NAIVE or i am WRONG.
   One of those 2 statements is correct.
   I see WW3 starting on the 26th November and a Nuclear exchange in May next year.
   I hope i am wrong.
   But the problem is the Evidence points to me being Correct Sadly.
   Not long to find out ???????
   If you think i am mad , well then who would of thought Hillary would win this Election with all the scandals she has had thrown at her ?
   They are Satanists who worship Saturn and this is the key to the Madness.
   They are bang into Rituals and dates that relate to the Planets , so knowing a few pieces of the puzzle is not enough to work out the end game , this is where 99% fall short on their predictions , you cannot solve the puzzle if you are missing crucial pieces of the chess board.
   I would like to credit MATTHEW NICHOLSON for educating me on the Illuminati Code , he is the Mastermind on the dates mentioned for WAR.
4. I have that exact same hammer shown in the thumbnail photo for this video. I bought it in what was then west Germany about 1984, just had it out  3 days ago.
5. Great work Jason, been looking for the Russian uranium company Rick mentioned, Kazataprom? Can't find anything about it, every time I google Russia and uranium together, all I get is Crooked Hillary articles? Do you have the ticker, would like to look into it? Keep up the good work mate, Phil from Dubai!
6. Great interview n thanks to both of you !
7. YtD SGDJ 105,97% and GDXJ 116,45%
8. Great interview. Rick Rule does lots of interviews but you definitely ask some of the best non cookie cutter questions. If you could ever get Mitch Feierstein on that would be a great.
9. great interview
10. What happened to the audio around 29 min? :(
11. Rick Rule....... Rules with his analysis !
12. To cast a finance/mining/soundmoney man's opinions as "WRONG" in a macroprudental (READ:FINANCIAL REPRESSION) environment is ridiculous.
    
    How do these people even end up here watching the videos ?
    Or are they here to mislead ?
    We are in an open world of financial repression, the governments are not trying to hide it.
    Past periods of financial repression (0% interest, inflation/printing money) have all lasted much, much longer than this.
    Maybe we should applaud anyone who is willing and able to speak the truth for such extended periods of time in an otherwise upside down world.
13. I just saw Rick on Boom Bust, and appreciate you having him here on WSFMS Jason. We are living in unprecedented times now no doubt, and your insights are invaluable for navigating ones way in these turbulent markets. What are your thoughts on First Majestic and Silver going forward? I'm bullish. Have a great weekend :-)
14. Pretium has a new mine coming in Canada (which will be on of the largest in the world), Timmins gold is working on one in Mexico. The mines both will have an all in cash cost of under $600. So sorry Rich, your wrong, good projects are going forward at these prices. It's the marginal and crappy projects that cant make it at these prices.
15. Good interview, Jason. Thank you.
16. Jason: Someone you may find interesting to interview is James Dines.
17. Please share the information of our world is way too corporately centralized and a few own controlling shares. Here is my published research on topic. http://www.thelastamericanvagabond.com/finance/market-manipulation-drilling-down-evidence/
18. Another wealthy, intelligent man who has been wrong for years.
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