My take from the SF Hard Assets Conference Nov 21+22
The SF Hard Assets Conference was held at the Marriot in San Francisco from November 21-22. It was great to listen to the analysis, the hype, the excitement and the education. Here are some of the highlights:
1. Rick Rule (see photo). Certainly hands down one of the smartest resource investors on the planet. he knows just about everything. Sounds absurd to say that but if you listened to Rick, you’d know. Let me just mention that Rick stayed an extra hour and a half to answer EVERYONE’S questions – never seen a speaker so generous in any field. Not even self-help gurus stay that long! Note: he was not looking to gold and silver at the moment, preferring to be a contrarian he was looking at natural gas and geothermal power.
2. Getting a geology lesson from Otis Gold Chief Geologist Mitch Bernardi (disclosure – I have a position in Otis Gold in my test fund). He explained the mining terms ‘cutoff grade’ and ‘strip ratio,’ two simpler concepts in much detail to this geology neophyte. Mitch took tons of time with me – he was awesome!
3. Talking shop with Altius Minerals’ VP of Exploration Lawrence Winter, PhD and VP Corporate Development Chad Wells for 20 minutes. Two fun guys who taught me a lot.
4. Listening to the hype – out of the many mining companies that were present, it was interesting to think that maybe 5% of them have something to talk about and even less will ever mine their asset economically. Just hearing the talks and discussing things with people teaches a lot. of note: many companies trying to sneak the hot ‘rare earths sector’ into their story to get investors’ attention (e.g. “we may have rare earth mineralization” hehe).
I for one came back with some great ideas and perspective and it was well worth my time. And don’t think you will be left out. I will cover some of my lessons learned over the next few weeks here on this site – so don’t you turn that dial! 🙂
Thanks for reading.
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