Jul. 29 at 10:00 PM
$VGZ A quote from Rick Mills, founder of Ahead of the Herd:
"Ok, it used to be not that long ago, before quality gold deposits became scarce, and even in 2018 there were reports that Barrick’s reserves had fallen from a high of 164 million oz to 55Moz, so the majors are in a desperate search for reserves and it used to be that they needed to see — to make a difference in their bottom line — 5 million ounces.
That 5 million is no longer the target, it has actually gone below 2.5Moz, with some analysts reporting majors will take a 2Moz deposit, they are that desperate."