{"id":528382,"date":"2017-07-26T21:22:19","date_gmt":"2017-07-26T21:22:19","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=528382"},"modified":"2017-07-26T21:22:19","modified_gmt":"2017-07-26T21:22:19","slug":"if-youre-not-a-contrarian-youre-a-victim-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=528382","title":{"rendered":"\u201cIf You\u2019re Not a Contrarian, You\u2019re a Victim\u201d"},"content":{"rendered":"
<\/a><\/div>\n

By Brian Maher<\/a><\/span> <\/p>\n

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This post \u201cIf You’re Not a Contrarian, You’re a Victim\u201d appeared first on Daily Reckoning.<\/p>\n

The Daily Reckoning has taken up temporary headquarters in the fair (and humidity-free!) city of Vancouver, Canada\u2026<\/p>\n

We’ve alighted upon these blessed climes to cover this week’s annual Sprott Natural Resource Symposium.<\/p>\n

It is here where some of the world’s brightest stars in finance and natural resources gather to spot market omens\u2026 read tea leaves\u2026 and announce the way to riches.<\/p>\n

Our own Jim Rickards and David Stockman are keynote speakers this week here in Vancouver.<\/p>\n

Jim’s senior geologist, Byron King, also takes the podium.<\/p>\n

Your editor enters this week’s proceedings in the role of fly on wall.<\/p>\n

We’ll be reporting findings\u2026 leaking critical intelligence\u2026 and issuing private dispatches from behind closed doors.<\/p>\n

We hope you can put the information to good use.<\/p>\n

It’s the next best thing to being there yourself, we dare say \u2014 without having to purchase an admission ticket that can only be described as expensive.<\/p>\n

The Sprott conference tends to attract what you may call \u201ccontrarians.\u201d<\/p>\n

No surprise, that, given the mantra of Rick Rule, Sprott’s CEO and conference host:<\/p>\n

If you’re not a contrarian, you’re a victim.<\/p>\n

Many fancy themselves contrarians. Few are in reality.<\/p>\n

The embrace of the herd proves too seductive for most \u2014 safety, they intuitively sense, lies in numbers.<\/p>\n

But there are certainly some contrarian-looking folks on hand.<\/p>\n

We observed an eccentric or two yesterday, some with odd crotchets easier witnessed than described.<\/p>\n

There was this one fellow who \u2014 no \u2014 we’d better not say.<\/p>\n

But given the price of an admission ticket\u2026 these must be wealthy eccentrics.<\/p>\n

But to the conference itself\u2026<\/p>\n

Several fellows spoke yesterday. These included Rick Rule himself and other CEOs of precious metal companies.<\/p>\n

If there was one central nugget to emerge from their briefings, it is this:<\/p>\n

Projected mining supplies will struggle to meet rising demand for precious metals in the years ahead.<\/p>\n

For example, David Garofalo, CEO of Goldcorp, claimed that the gold sector has seen a one-third decline in its reserves over the past five years.<\/p>\n

He further projects that gold production industrywide will decline 15\u201320% over the next few years.<\/p>\n

Heaping Pelion upon Ossa, Garofalo says it takes some 15\u201320 years to add new capacity.<\/p>\n

That is, gold production will decrease, and it could be years and years until new gold reserves come to market.<\/p>\n

We thus confront the possibility of \u201cPeak Gold\u201d:<\/p>\n<\/p>\n

This is exactly the drum senior geologist Byron King of Rickards Gold Speculator has been pounding for quite a while.<\/p>\n

Byron noted earlier this year that 2016 was the first year mine production fell since 2008.<\/p>\n

And quoting a Thomson Reuters report, Byron notes there are:<\/p>\n

Few new projects and expansions expected to begin producing this year, and those in the near-term pipeline are generally fairly modest in scale, hence our view that global mine supply is set to continue a multiyear downtrend in 2017\u2026<\/p>\n

Add it all up and you have a recipe for falling production.<\/p>\n

Patrick Donnelly, president of First Mining Finance Corp., confirmed yesterday that \u2026read more<\/a> <\/p>\n

Source:: Daily Reckoning feed<\/a><\/p>\n

The post <\/a>\u201cIf You’re Not a Contrarian, You’re a Victim\u201d<\/a> appeared first on Junior Mining Analyst<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Brian Maher This post \u201cIf You’re Not a Contrarian, You’re a Victim\u201d appeared first on Daily Reckoning. The Daily Reckoning has taken up temporary headquarters in the fair (and humidity-free!) city of Vancouver, Canada\u2026 We’ve alighted upon these blessed climes to cover this week’s annual Sprott Natural Resource Symposium. It is here where some […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/528382"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=528382"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/528382\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=528382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=528382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=528382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}