He is a founding shareholder. He is one of the bulls. They are over budget with respect to their mineral deposit because they are ahead of schedule. Many people did not understand this budget miss was a response to opportunity. This kind of deposit delivers itself in the mining. There has been a cloud over the stock because the gold is highly dispersed and it is a tricky deposit.
He is no longer a shareholder but it is because they exceeded any level of greed he could have had. It was a tremendous success for him. He does not think it will be built this cycle. He thinks they will resolve the political issue with first nations. The stock could trade up. It may be 10 or 15 years before this mine is built, but it will offer tremendous leverage to commodity prices.
He was a founding shareholder. It is the highest quality of the silver equities. The government is trying to shake them down in a tax dispute, but he thinks the case is unfounded. A settlement will be viewed unfavourably by shareholders, but he thinks it is baked into the price and will not be significant.
Markets. In 2017 it will be a replay of 1975 and 2001 with the US dollar and gold rising over the course for the year in tandem. The US dollar strength has more to do with the weakness in other currencies and gold strength has to do with a flight to quality. In the past the dollar has eventually rolled over. Gold is closer to the beginning than to the end of a bull market. The real interest rate yield is actually negative as the purchasing power of the dollar is declining especially when you take tax into account. Interest rates have to go up. In the near term the copper price will trade lower because it is ahead of itself. Within three years it will trade higher due to supply declines. He is investing in predevelopment stage copper projects.