Second Quarter Writedowns Worse Than We Thought: Brent Cook

[youtube JXm9mRDpA08]

Kitco News speaks with Exploration Insights Editor Brent Cook about the struggling mining industry in this edition of “Mining Minutes.” Cook discusses the challenges junior miners are facing and warns of fewer discoveries as more companies cut exploration. “My guess is we’re in for a long bottom,” Cook says. “There’s a lot more writedowns to come.” Cook also points out that miners will focus on higher grade deposits and leave lower-grade materials on the side, which will effectively sterilize the rest of the deposit. Profitable companies need to focus on acquiring deposits that are making money and prove to investors they can make money in mining, Cook says. Kitco News, August 6, 2013.

Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: http://kitcomm.com — Or join the conversation on social media: @KitcoNewsNOW on Twitter: http://twitter.com/kitconews — Kitco News on Facebook: http://facebook.com/kitconews — Kitco News on Google+: http://google.com/+kitco — Kitco News on StockTwits: http://stocktwits.com/kitconews

As well as the most accurate precious metal prices online, Kitco also provides up-to-the-minute news with usable market information. Videos provided by and © Kitco.