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Why Sprott Increased Veris Ownership to 30 percent

Thursday, September 26, 2013 21:26

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If you listened to the video presentation by Shaun Heinrichs, you know that Sprott increased its ownership in Veris Gold to 30 percent. Why did he do it? Because he thinks it will appreciate by approximately 2,000 percent.

Recently, Sprott Asset Management held its Precious Metals Round Table with Eric Sprott, Marc Faber, Rick Rule, and John Embry. During this event, Eric Sprott used two companies to show how much they will appreciate if his price target on gold of $2,400 comes to fruition. One of the companies was Veris Gold. I find it interesting because he could have used hundreds of other mining companies but he chose Veris Gold.

If you want to listen to the event, just go to Sprott.com.

Source: http://classicvalueinvestors.com/i/2013/09/why-sprott-increased-veris-ownership-to-30-percent/

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