Kitco Mining, Released on 9/11/24

There is a big disparity between metal prices and mining equities, said Frank Giustra, president and CEO of Fiore Group. On Wednesday, Giustra spoke to Kitco Mining at the 2024 Precious Metals Summit Beaver Creek in Colorado. Giustra is a global philanthropist. Giustra was also the founder of Lionsgate Entertainment. Giustra has not retired. He said he has a team of about 30 geologists and engineers assessing opportunities in the resource space. One metal is of particular interest. “My whole life I have wanted to do a pure primary silver play,” said Giustra. “I’ve never been able to pull it off because I haven’t found the right assets.” Gold has hit several all-time highs in 2024. Giustra is waiting for the broader market to take notice. “I’ve never seen a market where there is such a difference between the gold price and mining stocks,” said Giustra. “Investment banks offer us financing…then they go look for investors, and they don’t exist. We end up having to place all of those shares ourselves.” Giustra said that being a miner with one asset does not work. Giustra said buy and build is better. “You have way too many small developers, single asset companies that are getting absolutely no investor interest,” said Giustra. “Our style of business…has been based upon building multi-assets. Start with something that’s smallish and build it and build it. We call it the ‘buy and build strategy.’”

0:00 – Why is Frank Giustra not retiring and instead investing in the resource space?
2:22 – Why is Frank Giustra interested in Colombia?
4:38 – First Majestic Silver acquiring Gatos Silver
5:43 – High gold prices and M&A
7:22 – Tipping point for juniors
11:11 – Margin expansion at the major gold miners
11:59 – How should gold miners spend their cash?
15:24 – Outlook for gold price

Frank Giustra is a Canadian business executive, who has been particularly successful in the mining and filmmaking industries, and is a noted philanthropist. Mr. Giustra started out as an assistant trader and then became a stockbroker at Merrill Lynch in his early career. He later went on to join Yorkton Securities, where he helped launch a new branch geared towards financing resource companies in Europe. He is now an advisor to major gold miner, Endeavour Mining Corporation. In the late 90’s, he founded Lionsgate Entertainment – the company behind The Hunger Games and Michael Moore’s Fahrenheit 9/11. The company had over $2 billion in revenue in 2013, and owns the rights to the hugely successful Twilight movie franchise and The Expendables series, among other big blockbuster titles. He is presently the CEO of Fiore Group. More information can be found at his website FrankGiustra.com.

  Frank Giustra, gold, gold miners, investing, mining, silver