Interview with the Gold-CEO, that the majors HAVE to talk to! - Seite 4

Gold has lost some of its value this year. The Gold price fell below 1.200 Dollar per ounce. Especially the traders and speculative investors continue to bet on ongoing falling prices. As a geologist and the CEO of the company: What do you think about the current situation?

Matthew Lennox-King: The current economic climate for gold similarly illustrates the need to be in safe and low-cost jurisdictions where miners can operate at a profit at $1100-1200 gold.  When we started Contact Gold we were focused on “Tier-1” jurisdictions (Nevada, Ontario, Quebec).  Because these jurisdictions survive downturns, and depressed metal prices, because the infrastructure is already in place and the regulatory bodies offer a safe and streamlined path to production. During the last downturn all gold majors focused in on their key low-cost producing mines/jurisdictions and Nevada proved to be critically important for Newmont, Barrick and others.
Additionally, all of these producers are now seeing their production profiles decline, with some of them steeply declining. They will need to add deposits in these Tier-1 jurisdictions, which puts Contact in a good position and I also believe overall it will be good for gold.
The gold price (and the exploration industry) slowly increased from 2002 – 2008 after the tech bubble. I think the expectation that gold would go right back to the frothy 2011 $1,900/oz was unrealistic coming out of the downturn in 2016. I would prefer to see a slow, steady increase in gold price with some healthy dips.

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