Single assets don't work, buy and build - Frank Giustra

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.’” Coverage of the 2024 Precious Metals Summit Beaver Creek in Colorado is sponsored by ‪@NewcoreGold‬. For more info, visit https://newcoregold.com. 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 __________________________________________________________________ Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices. Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com Stay connected with us Twitter -   / kitcomining   Instagram -   / kitcomining   LinkedIn -   / kitco-mining   Facebook -   / kitcomining   Connect with the Kitco Mining anchors Michael McCrae -   / michaelmccrae   Paul Harris -   / paulharrisgold   For more in-depth mining coverage, visit us here - https://www.kitco.com/mining Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc.