RE: Sprott1 Jun 2020 19:27
Sprott's after 5 baggers not a few % here or there. They seek the best and want degrees of return on their capital. I'd like to know what they can 'see' and haven't yet revealed their thoughts
'The best-run companies might provide 20- or 30-per-cent returns, or maybe 100 per cent in a few cases, but Sprott would rather invest in a company that might strike gold and give him a 500-per-cent return, or even a coveted 1,000-per-cent return.
Indeed, as merger activity heats up in the gold space, another one of Sprott’s investments, Continental Gold Inc., announced a $1.4-billion cash buyout at $5.50 per share.
In July, Sprott had bought about 10 million shares at $3.10, meaning he made about $25 million or a 75-per-cent return in just a few months. But he was nonplussed, saying the buyout may have come a little early.
“You’ve got to have the dream, right?” he said. “You’ve got to have the dream you’re going to find something.”
Therein lies Sprott’s biggest paradox: he’s eager to believe that junior gold miners are on the verge of striking the motherlode, but skeptical of nearly everything else related to the gold industry'
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https://business.financialpost.com/commodities/mining/billionaire-eric-sprott-dishes-on-his-golden-investment-spree-its-like-being-at-a-table-with-a-winning-run
18-Dec-2019