Keith Barron: Gold will Easily Climb Past $2000 During this Long Bull Market
Keith discusses his early interest in fossils and rocks by making backyard discoveries as a child. He considered entering medicine after high school but instead obtained a Ph.D. in geology.
He first visited Ecuador in 1998 after having lived in Caracas for a couple of years. At the time, he didn’t know much about Ecuador, so he took Spanish immersion by being billeted with a host family. He was fortunate to stay with a professor who was involved with the department of mines. This is where he learned about old Spanish mining projects, some being lost to history.
They researched two of these lost mines in 2001, and while exploring Keith came across a significant geologic discovery, and during a brief drilling program, they unexpectedly struck gold. The company went to the public market in June of 2003, eventually staking 96000 hectares and was sold at the end of 2008 for a considerable profit.
After getting bored three months into his retirement, they decided to explore Europe in search of mining records, eventually locating some key information from the Vatican archives. In March of 2016, they claimed 208,000 hectares, which has became the cornerstone of their new company Aurania Resources.
Keith likes to have large land positions since you have to crack a lot of rocks and walk a lot of terrain before you find something with an economic possibility. If you have a good team, you have a good chance of finding something. Most companies aren’t interested in these projects due to the lack of infrastructure.
Negative interest rates are an exciting time in which to be living. Share buybacks are mainly driving the Dow since companies can easily borrow at low-interest rates. Many countries are concerned about this situation and are acquiring gold. Eventually, the situation will unravel when loans start to dry up due to risk. Commodities will then rise quite rapidly. He can see gold rise above 2000 and then head for 3000.
Time Stamp References:
0:45 – His early background in geology.
2:30 – Discovering in Ecuador.
5:40 – Searching for old Spanish mines.
7:10 – Interesting geology turned into a goldmine.
8:50 – Retiring and boredom.
9:40 – Exploring Europe for records on Ecuador.
11:30 – Staking a claim for his new company.
12:50 – Big land positions and finding gold.
14:40 – No go areas for most companies.
16:20 – Where gold is heading.
20:00 – Advice for young investors and geologists.
Talking Points From This Week’s Episode
• Keith’s early interest and historical research in Ecuador.
• Why explorers need large land positions.
• Negative interest rates and America’s position on gold.
• Gold will quickly rise when debts begin to unravel.
Keith Barron, Ph.D. is CEO and Chairman of Aurania Resources. He is an exploration geologist with over 33 years of experience in the mining sector. He has consulted on all continents except for Antarctica, searching for commodities such as gold, silver, diamonds, uranium, copper, platinum, and industrial minerals. In 2001 he privately co-founded Ecuador gold explorer Aurelian Resources Inc., which was listed on the TSX-V in 2003 and made the colossal Fruta del Norte gold discovery in 2006. The company was bought by Kinross Gold in 2008 for $1.2 billion. He is the founder and a Director of Guyana, Colombia and Argentina uranium explorer U3O8 Corp (TSX:UWE). He is also Chairman and Director of Firestone Ventures (TSXV:FV) and President of private sapphire miner Potentate Mining in Montana, USA. At the PDAC convention in March 2008, he was awarded the Thayer Lindsley International Discovery Award for his role in the discovery of the Fruta del Norte gold deposit and he was also jointly named the Northern Miner’s Mining Man of the Year 2008. He holds a Ph.D. in Geology from the University of Western Ontario and a BSc. (Hons) in Geology from the University of Toronto. Dr. Barron is currently an Adjunct Professor with the Department of Earth Sciences, University of Western Ontario.