Opinions
Bill Carrigan
Royal Canadian Mint
MNT-T
DON'T BUY
Aug 10, 2012
$31.010
Stock price when the opinion was issued
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Canadian dollar play so no currency risk. Gold is held at the mint. It is hard for smaller investors to buy bullion. This is like buying it. For people who want to participate in the gold market and not the production companies. If price of gold goes down, then this one goes down. It trades at a very small premium from the issue price.
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Gold producers? He prefers to own the Royal Canadian Mint (MNT) and Sprot (PHY.US) and Franco-Nevada (FNV). He likes the physical element. He would also consider the Junior Miners ETF (GDXJ). At some point, there will be a role for gold to help the economy recover.
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If this is a closed end fund, he wouldn't like it because you will be trading below NAV. Technically, the group is moving upward and this one is moving down.