Blackrock CIO: High-Grading will Lead to Gold Production Drop
In an interview with Citywire, Blackrock Natural Resources CIO Evy Hambro provides some guidance on the gold industry:
In the short term Hambro predicts production might actually tick up as gold companies seek to reduce costs by mining higher grade gold where they have the flexibility to do so.
He believes that while that scenario might preserve the production level for now, if the current gold price remained subdued, production could start to fall quite aggressively within the next few months…
The fund has a strong bias towards growth players, which Hambro said were becoming harder to find in the gold sector as companies are cutting back capital expenditure.
Hambro expects such stocks to continue to outperform although he thinks they are currently quite expensive relative to their peers.
Read more: http://citywire.pt/news/blackrocks-hambro-expects-sharp-drop-in-gold-production/a702779
Hat Tip to CEO.ca
Source: http://thedailygold.com/blackrock-cio-high-grading-will-lead-to-gold-production-drop/
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