Mining Will Be Survival of the Finest, Not Fittest: Rick Rule (Sprott Asset Management) – PDAC 2013

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We discuss the future of mining investment with Rick Rule of Sprott Global Resource Investments/ Sprott Asset Management USA as part of our continued coverage of the PDAC 2013 convention. According to the ever-astute Rick Rule, the notion that there isn’t enough funding available to the mining industry is a mixed message or misrepresentation of sorts; there is in fact plenty of capital available, thus the actual message to take away from this commonly cited problem at this year’s PDAC is that the industry must do a better job of delivering value to the investors. Rule says that investors are becoming much more selective, and that furthermore the generalist investors “have learned a lot of lessons, mostly unfortunate,” over the last 3 years. Why survival of the “finest” as opposed to the “fittest”? Rule says that some of the “good guys” aren’t fit at the current moment, but that they will nevertheless get funded; according to Rule, the ones that won’t get funded will be the “car salesman”, who had no place in the mining industry to begin with; the ones with no pedigree, if you will. Hear what the ever insightful contrarian has to say about the future of the mining industry in another great interview by Daniela Cambone. Kitco News, March 6, 2013.

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