both have excellent properties holding them up, I would go with Barrick, they have a lot more exploration projects on the go at the moment and have solid investments in smaller companies all over the place.
Jack Kelly
I work in the gold industry with miners, refineries and traders, AMA
Best price for quantity of metal is mene. They sell 24k gold and platinum. Price is variable based on spot price and they are upfront about their premium.
My only concern is if the gold price goes too high we'll get flooded from the big boys on the supply side, have you got any data or insights on this?
For example a mine Ive worked at has 100's of millions of tons of low grade mineralised waste that would all of a sudden be mineable into gold if the gold price went high enough, we've even got like 15 years worth of old waste dumps that have gold in them and could be dug up again.
The good news is though, big open pit cutbacks take like 1 or 2 years to strip the waste and gold mills can only process the ore at the rate they were designed for, again it would probably take a year to upgrade/build a second mill and associated infrastructure, so there would be some lag time between price increase and supply increase.
The other good news is while there are a few massive deposits with 50+ year life of mine, there's also quite a few open pits that will be finished in 10 years max, we're talking about billions of ounces being removed from the global supply, most new major deposits I've seen are now deep underground which are very complex to develop and aren't as easy to match open pit production rates. Plus all these mills are gonna be getting quite old in 10 years and will require major refurbishments which will take money and time.
Connor Thompson
Just had my first ever metals purchase delivered. 1oz gold, 100oz silver. How'd I do biz?
