The Gold Report
Miners
are having a tough time getting funded, and although Canadian oil and
gas has performed well over the last few quarters, some companies might
be overvalued. No wonder investors are confused. In this interview with The Mining Report,
Jason Mayer of Sprott Asset Management examines near- and long-term
plays that look poised to deliver returns, and shares his criteria for
selecting profitable investments in volatile resource markets.
The Mining Report: In February, you gave a speech at
The Vancouver Club that acknowledged the impact of investor fatigue on
the junior mining equity space. Seven months later, are investors
starting to get excited again about the space? Jason Mayer: Investors have been reacting in fits and starts, and everyone is still very cautious. I track a number of funds, and I watch how they perform on a day-to-day basis. What I have found interesting is that a number of resource funds in Canada continue to be underweight, particularly in gold equities. I notice they underperform on days that gold stocks have good moves. The generalists out there among the institutional money have little to no presence in various gold equities. For the most part, people have abandoned the space.
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