Gold bull McEwen sticks with his $5,000 call as pot stocks peak By DANIELLE BOCHOVE Bloomberg Thu., Jan. 17, 2019
Gold mining veteran Rob McEwen is nothing if not optimistic.
The founder of Goldcorp Inc. is sticking with his bold prediction that the precious metal will soar almost fourfold to $5,000 an ounce (U.S.), bolstered by a weaker dollar and waning demand for trendy assets like pot stocks.
“Once people get over buying cryptos and biotech and cannabis stocks they’re going to start looking at gold again,” the chief executive officer of McEwen Mining Inc. said in an interview Thursday in Toronto with Bloomberg Television. Asked about his price target, McEwen said: “I’ve always liked $2,000 and beyond that $5,000.”
McEwen has been wrong before. In 2017, he predicted a “tsunami” of liquidity seeking safe haven would push gold above $5,000 an ounce. In 2016, he predicted prices of $1,700 to $1,900 by the end of the year. The metal ended below $1,200 an ounce, and trades only slightly higher now at about $1,290. (the Fed NWO banksters mafia cabals have been making counterfit fiat fraud currency for more than 100yrs. and manipulated the gold market as long, imo! ex.... https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146133115
A loss of confidence in the dollar, a peak in the broader stock market and fears of inflation will feed the impending spike in gold prices, he said.
“The gold bull market started in January of 2016,” he said. “People haven’t seen it yet but we’re about a third of the way through.”
McEwen, 68, is a fixture in Canada’s tight-knit gold mining community. The founder of Goldcorp is a noted philanthropist, having donated tens of millions of dollars to healthcare, business education, and other causes. He also remains the country’s most famously unabashed gold bull.
Newmont CEO On Why The World’s Largest Gold Merger Happened 3,474 views Kitco NEWS Published on Jan 30, 2019
Newmont has been in talks with Goldcorp for some time on mutually beneficial transactions, and a merger just made sense, said Gary Goldberg, CEO of Newmont.
“When you look at Goldcorp’s assets and ours we sit very complimentary to each other,” Goldberg told Kitco News.
Barrick eyes hostile bid for Newmont, Toronto Globe and Mail says
Submitted by cpowell on 02:17PM ET Friday, February 22, 2019. Section: Daily Dispatches By Niall McGee and Rachelle Younglai The Globe and Mail, Toronto Thursday, February 21, 2019
Barrick Gold Corp. is mulling a takeover bid for Newmont Mining Corp., a transaction that would represent one of the largest mining deals ever and solidify the Toronto-based companys position as the world's largest gold producer.
Barrick is working on a plan for a two-step deal that would see it take over Colorado-based Newmont for about US$19 billion in stock, then flip some of Newmont's assets to Australia's Newcrest Mining, according to industry sources familiar with the situation. ... Dispatch continues below ...
The sources, who were granted anonymity by The Globe because they were not authorized by their employers to speak publicly, cautioned that there are still a number of hurdles.
One of those obstacles is winning support from shareholders of Newmont.
The company is attempting to close its own US$10 billion acquisition of Vancouver miner Goldcorp Inc., which was announced only last month.
Under the potential terms of the deal, Barrick would keep Newmonts Nevada and African mines, while Newcrest would take over its Australian operations, which are worth billions. ...
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