Ross Beaty: Gold is Going to New All Time Highs
Ross discusses his childhood, early pursuits in academia, along with his hitchhiking adventures in several countries. In the early 80s, he began to get serious about working, starting his first company Equinox Resources. He spent nine years learning and making mistakes but was fortunate to sell the company.
Ross says, “It’s a great deal of fun to be able to build several companies.” He is a big believer in market cycles, and recently saw the opportunity in gold and decided to build a new gold company Equinox Gold. Named after his first company, Ross and his competent management team are developing some excellent assets.
The bear market from 2011 to 2016 drove gold and sentiment down to low levels while new markets like marijuana and cryptocurrencies distracted investors. Today, we are probably in the fourth inning of the gold bull market. We still have a long way to go and will likely pass 1900 in the coming years. Money printing can’t last forever; eventually, inflation will blow up, or the dollar will decline. Stock markets will continue to party until it’s over. The eventual downturn will hit all markets, including gold, but gold will bounce back first.
Ross is an avid reader and gets tremendous pleasure out of books in general, particularly spy novels, history books, geography, and travel logs. He wishes he had read “Never Rest on Your Ores” by Teck Chairman Dr. Norman B. Keevil when he was younger. Working with good people is very important, but you need to focus on scale. He says, “Luck has favored him, and it’s all about being in the right place at the right time.”
Time Stamp References:
0:40 – His early education and travels.
2:00 – Building something from nothing.
2:50 – Selling his first company.
4:00 – Timing and building a new company.
8:15 – Outlook for gold.
11:00 – Money printing until the party ends.
12:00 – Juniors and a future mania.
13:50 – Favorite books, lessons, and his interests.
17:00 – Risks in mining and diversifying.
Talking Points From This Week’s Episode
• Early career building his first company.
• Market cycles and his new company Equinox Gold.
• Outlook for gold and inflation.
• His favorite genre of books.
Ross Beaty is the Chairman of Equinox Gold’s Board of Directors and a member of the Company’s Social Responsibility/Technical Committee. Mr. Beaty is a geologist and resource company entrepreneur with over 40 years of experience in the international minerals and renewable energy industries. He founded Pan American Silver and currently serves as Chairman of the Pan American Board, and since 1985 has successfully founded and divested in several other public mineral resource companies.
Ross is a past President of the Silver Institute in Washington, DC, a Fellow of the Geological Association of Canada and the Canadian Institute of Mining, and a recipient of the Institute’s Past President’s Memorial Medal. In 2007, Mr. Beaty received the Association of Mineral Exploration of BC’s Colin Spence Award for excellence in global mineral exploration; in 2008, he won the Mining Person of the Year award from the Mining Association of BC and the 2008 Natural Resources & Energy Entrepreneur of the Year Award by Ernst & Young. In 2010, he was awarded the prestigious Viola MacMillan Award by the Prospector and Developers Association of Canada and was selected as Mining Person of the Year for 2011 by Canada’s Northern Miner newspaper. In 2014, he received the CIM’s Vale Medal for Meritorious Contributions to Mining, and in 2017 he was appointed to the Order of Canada for his business contributions to the mining sector and for his philanthropy aimed at preserving the environment. In 2018, Mr. Beaty was inducted into the Canadian Mining Hall of Fame in recognition of his significant contributions to the Canadian mining industry.
Mr. Beaty holds an MSc in Mineral Exploration (with Distinction) from the Royal School of Mines, University of London, England, and an LLB (Law) and a BSc (Honours Geology) from the University of British Columbia.