Tookie Angus: Gold Markets Have Bottomed, Now What?
Stuart “Tookie” Angus feels we are in the beginning phase of a new discovery bull market and people will be rewarded that get involved. The market has bottomed out, and it’s due to investors just not caring about gold. However, a few wise investors like Ross Beaty are putting significant capital into the market. Picking up assets at bottom level prices can be very rewarding later.
He discusses how companies need good properties but management remains critical. He feels that he is a good talent spotter and he supports young people in the industry. He believes that Northern Canada particularly the North West Territories and Nunavut have a lot of potential.
He discusses how Rover Metals (TSX:ROVR) has acquired a historic property in the North West Territories that can likely be expanded. Also, they have another property conveniently located close to Yellowknife.
Mr. Angus chairs three companies the first is San Marco which is an exploration company in the Sonora State of Mexico and has high-grade copper-silver discoveries. The second is Kenadyr Mining Corp. in the Kyrgyz Republic which has good mineralization and has been recently funded by the Chinese Zijin Mining fund. He expects good things will happen there. Lastly, his focus is on K92 Mining in Papua New Guinea which is an underground mine acquired from Barrick Gold that they have put back into high production at minimal cost.
He also discusses Titan Mining’s purchase of the 100-year-old Empire State Mine in New York which is an actively producing Zinc Mine.
Talking Points From This Weeks Episode
• Battery Metals like Vanadium and Copper are essential.
• Zinc is short supply and is needed for iron production.
• He outlines his interest in several companies.
• Feels that mining in Northern Canada is overlooked.
Mr. R. Stuart “Tookie” Angus is an independent business advisor to the mining industry. He was formerly Head of the Global Mining Group for Fasken Martineau. For the past 35 years, Mr. Angus has focused on structuring and financing significant international exploration, development and mining ventures. More recently, he was Managing Director of Mergers & Acquisitions for Endeavour Financial and was responsible for merger and acquisition mandates.
Mr. Angus is the former Chairman of the Board of BC Sugar Refinery Limited, he was a Director of First Quantum Minerals until June 2005, a Director of Canico Resources Corporation until it’s takeover by CVRD in 2005, a Director of Bema Gold until it’s takeover by Kinross Gold in 2007, a Director of Ventana Gold until it’s takeover by AUX Canada Acquisition in 2011 and a Director of Plutonic Power until its merger with Magma Energy in 2011. He is presently Chairman of Nevsun Resources Ltd and Keanadyr Mining Corp, and is also Chairman and Director of K92 Mining Inc.