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« Jim Rogers on Precious Metals: Gold will hit bottom end of 2014, prefers silver to gold | Main | Gold Beware 1152 »
Tuesday
Jan142014

“Big Money” Entering Resources, Precious Metals: Rick Rule

Rick Rule, Chairman of Sprott Global Resource Investments Ltd., says some of the ‘big money’ that was circling the resource sector has finally found a home. Rick Rule recently commented on a couple of new investment mandates that he believes signal a positive development in the resource sector.

The first mandate is a deal for Sprott Asset Management to co-manage upwards of $110 million in funds along with Zijin Mining Group Company Limited, the largest publicly traded non-ferrous metals mining company in China. $100 million of those funds come from Zijin while $10 million is to come from Sprott Inc., Sprott Asset Management’s parent company. 1

Sprott CEO Peter Grosskopf said: “We believe the combination of Zijin’s technical strengths and Sprott’s resource investment expertise will prove to be an attractive option for investors looking to invest in the mining sector with a focus on gold.”

In another development, Sprott Inc. announced in December, 2013, that it had been awarded a mandate to co-manage a $375 million private equity fund by South Korea’s National Pension Service with a matching $375 million commitment from the state-owned Korean Electrical Power Company ("KEPCO"), the largest electric utility in Korea.

Mr. Grosskopf said, “This mandate marks Sprott’s second entry into the growing Asian marketplace and solidifies our international reputation for expertise in natural resource investing.” He added, “We are committed to continuing to build our institutional client base as we seek undervalued opportunities in the sector.”

To read this article in full please click here.

In September 2011 the Gold Bugs index, the HUI stood at 630 as gold prices peaked, since then both have trended lower with the HUI losing about 65% of its value. The bottom has been called a number of times and after such a dramatic decline its difficult not to think that we are there now. However, as we all know the timing of any investment is crucial to its success and that is exactly what we are trying to do here, trying to pick advantageous entry and exit points. If you would like to know which stocks we are buying and selling please join us atStock Trader our premium investment service.

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