and that is why bring it all back that's
why you need to have some gold the gold
is what is going to preserve your wealth
through whatever rough seas lie ahead
and I'm pretty sure that there are some
rough seas and I'm pretty sure that
they're coming our way
welcome to proven and problem where we
deliver mining insights and bullion
sales in the form of physical delivery
offshore depositories and private
blockchain distributed ledger technology
welcome to proven improbable I'm your
host Maurice Jackson today we will seek
to discover the true price of gold and
silver and prospect generators joining
us for a conversation is byron king of
agora financial along with dr. John
marks dowdy
of riverside resources gentlemen welcome
to the show greetings hello it's good to
be with you Joe well hope you're both
doing well
mr. king I'd like to begin with you sir
bloomberg issued a press release
recently that Bank of America expects
gold to reach $3,000 which is a 50
percent increase from its record in your
opinion is this a realistic number or
was Bank of America being far too
generous or conservative I think Bank of
America is is on track I don't think
there's any question it will see 3,000
you know as with all things in life is
just a question of how long it will take
but when you say that you know gold will
be $3,000 that means that the US dollar
will be dropping in value relative to
gold by you know by by
quite a bit I'm about 50 percent from
almost where it is now so it's at 1700
now it has to move that extra 1300 you
know up to get to get to 3,000 which
implies a decrease in value of of the
dollar relative to gold because the gold
is the inverse of the value of the
dollar so so there there's played
there's plenty inside that comment but
let's let's keep going because you know
we're here to talk with John Mark as
well well John mark what are your
thoughts regarding Bank of America's
gold price expectations you know Byron's
right it's always about time but I've
never seen so much create
new-money the co vid is given an
opportunity to kind of pop bubbles that
maybe already existed and now I'm
getting checks in the mail as the us
person for just breathing and it's
pretty amazing if I get free money I
don't get free gold so I see gold is a
hard real asset and that I think it's
worth a lot more money and also it's
very difficult to get it out of the
ground and find it though I think
companies that have it or companies I
can develop it of great value oh that's
a great perspective they're not getting
free gold like that one
biron can you provide us with some
insight as to what is going on with
press in the precious metal space as a
whole in the pressure mouse basin as a
whole
plenty is going on I mean demand is
going up because you can view gold
really as a barometer of people's trust
in government and right now I think a
lot of people's trust in government is
is about this big this much you know and
so when people distrust government when
they distrust the fundamental currency
of their government you know gold tends
to go up in the gold space globally in
pretty much every currency of the world
gold has already set records I mean it's
setting record prices in Euros in
Russian rubles in Chinese yuan British
pounds Japanese yen the only currency
that it hasn't really you know broken
through previous highs in the new
records is the US dollar and that has to
do with the dollars role as the world's
reserve currency a lot of people across
the world Oh immense levels of debt and
the only way to pay that debt it's
denominated in dollars they need to get
dollars so they're selling stuff to move
to dollars so they can pay their debt
but you know that that's one aspect of
it that's sort of the monetary aspect of
it at the practical side of things
there's immense demand for everything
from you know from little you know you
know one ounce coins and what have you
that are practically sold out the US
Mint is charging you know 400 500 dollar
premiums over spot for our you know four
gold coins all the way up to you know to
the big bullion bars that
people traded international those have
all sorts of shortage issues over you
know the breakdown in global commerce
the fact that there's very little
airline trafficking I mean the to move
to move gold from London to New York or
from New York to Switzerland oder people
are chartering airplanes just to put you
know you know if you up you have a bunch
of gold bars on the airplanes instead of
instead of people and then another angle
you have to look at this is that across
the world many many mines gold mines
specifically but gold silver gold silver
copper copper lead zinc that has a gold
you know take off from it those mines
are the throttle back I think something
like 30% of the world's copper mining
right now is is either shut in
completely or dramatically scaled back
and that is also reflected in the gold
mining just because of mines that have
issues with the virus problem you know
sick workers or else they can't get
things they need from you know from the
trumpet they can't get the the fuel or
the explosives or the chemicals whatever
they need from the port up to the mine
just because the roads are closed you
can't travel yeah I think a lot of
people are not considering the supply
chain constraints when you're discussing
what's going on in the space and and mr.
King you've seen the up and down in the
markets in the past is this one
different in terms of the government
devaluing the currency oh I hate to say
this time it's different but yeah this
times different I mean I I've been I've
been around fertile for a while you know
according to my driver's license I've
been around for some years here and I've
seen government's do really stupid
things you know monetarily politically
economically you know militarily over
the years I seen some really stupid
things happen
but right now I mean they've just
basically opened the valves on the dam
of stupid stupid monetary and economic
ideas and it's all being done out of out
of true desperation I mean I yeah what
some it wouldn't when we say oh you know
they're the government sending checks
out to everybody yeah and they should
because you know we have twice 6 million
people in the United States were
personally unemployed and you know III
you know we have to do some
the only the only idea that they can
implement quickly is to send everybody a
check and the heck with the monetary
aspects I hope at some point you know
that things start to clear up and
clarify and we can resolve and start to
you know fix fix what's broken but man
oh man this is this is this is stupidity
squared in terms of you know what
governments ought to do versus what they
are doing we've discussed the price of
bullion what is your outlook mr. King on
the mineral exploration with an increase
in gold and silver prices and how do you
see the summer and the latter part of
2020 going oh man that's about four or
five questions here how do I see the
summer I see first of all in the in the
space out there you know would have been
the company space I see a lot of great
companies ranging from you know really
big guys you know the bhp billiton of
the world and the Rio Tinto's all the
way down to you know small juniors such
as you know such as Riverside and and
many others a lot of these companies
from the small to the big we're smart
enough and nimble enough to capitalize
up in the last you know six or eight
months you know in the in the lead-up to
before the before the you know the
current calamity so a lot of these
companies have some money but not just
money they've got people with ideas and
so they have a drilling program they
have an exploration program they have
development program so the companies
that are that are well positioned to
move forward will move forward to the
extent that they can you know it's very
just dependent on the jurisdiction in
Canada for example if you go to the
Yukon which is a very large mineral
exploration area I mean it's a 14-day
quarantine you you don't just fly up the
Whitehorse go visit a site jump on the
plane the next day or two and come back
in no no you go to Whitehorse you're
gonna spend 14 days in a hotel with them
sliding pizzas under the door for you
you know so and then you know before you
get to go to work and and other places
in the world have similar aspects the
thing is that once you're there once
you're on the ground and you've got your
teams and your crews and if you can keep
the bug out of your out of your mining
camp you can explore you can drill you
can map you can do to physics you can do
a lot of things you got issues
in terms of moving say you know so let's
say you drill some core you crush it you
bag it you you know send it to the lab
you've got just logistical issues and
sending it to the lab the lab turning it
around maybe the lab is slow but I think
there are a lot of exploration things
that are happening and going to happen
in the New York in the near term in
terms of you know who's doing well if
you have an operating project and you
have the virus issues under control you
are making money hand over fist and if
you're not there's something wrong
if you have an operating goldmine that
can you know that can either you know of
you know pour out you know the gold dori
bars or or come up with a concentrate or
something there's a there's a market for
that as long as you can again
logistically get it from where you are
you know to where it needs to be and
that again has issues that have to do
with aircraft availability truck and
driver availability you know that the
available I mean oil is cheap fuel is
cheap if you can get it you know if
you're in the wrong place and they can't
deliver the fuel from the terminal to
the you know to the gas station and the
fueling station you know that that makes
problem but yeah that's maybe a more
detailed answer there you're looking for
that that's what that's that's that's
how I'm looking at the Gulf space I have
a very positive view of it for the right
companies which they come with money and
good management teams and again working
in the right sort of spots John Mark
reverser Resources exemplifies many of
the virtues that mr. King just alluded
to how is Riverside prepare for this
situation you know we were lucky we were
already working virtually in terms of we
had teams working off-site and not a big
office setting definitely we have guys
on the ground provider and is saying is
breakfast 14-day quarantines well we
already have the team in place in fact
right now some of those guys are still
able to work in their local communities
and where they live and work is the
project sites they are third thing is we
have big partners having a partner like
eh PDS Byron said Griff operates and
acts for them in the field doing field
work and doing programs and we're
delighted we have regular meetings with
them all virtually and we're able to
help the guys on the ground to do the
produce
biron with a rising gold price our more
generalist investors basically taking
notice and flowing into the mining space
and if yes where is a good starting
point for them to consider when looking
for good value propositions and
exploration well the answer is yes more
a lot of people were very bad badly
burned you know with their you know with
sort of the traditional market kind of
things that they were doing up until you
know late February early March and then
by mid March when you know the big
crashes came a lot of people watched
their IRAs and therefore 401ks just
absolutely you know fall off of a cliff
and you know some people you don't did
the wrong thing they sold at the bottom
you know just sort of out of panic
there's been some recovery but a very
very significant recovery has happened
in the gold and the gold mining space if
you're new to the business you know
unless you will really are a fast study
you you know you want to be careful
about getting into the into the junior
space if you don't know what you're
doing and I say that you know what with
my dear friend John marks Battier who
runs the jr. but I mean I think I don't
want to put words in your mouth Marc but
I think you agree with me if an investor
out there doesn't understand what this
is all about be very very careful
doesn't mean don't go into go physical
gold if you don't have some get some I
mean I you know we're just talking about
$3,000 gold orbits in 1700 so in the
sense that you can go to certain
physical dealers and buy a coin or by a
small ingot or start to build your stash
that's probably not a bad idea to
preserve some wealth in terms of other
things there are mutual funds that's
that focus on the gold mining space some
better than others but but but a lot of
those gold mining focused mutual funds
I've done very very well I mean there's
one I'll just give you the not a GMI X
it has been it's up 50 percent since
March 18th I mean it had a nasty crash
to get there but yeah it's it's
recovered nicely OGM iakhs arc mix the
there are many others though some of the
ETF's you are pretty good
anything with the name Sprott in front
of it s PR OT g the Sprott gold miners
brought junior gold miners probably good
way to get in there there are the big
miners that you know barrack Newmont you
know those big names if you want to pick
stocks companies that are probably going
to do very very well in the next few
months especially in rising oil prices
are some of the royalty companies and
they range in size from you know really
really big guys like Franco Nevada to
smaller guys that you know very well run
like metallic but terrific the royalty
companies then you start to get into the
intermediates and then you get into the
juniors and if you're not used to that
space that's a very dangerous space to
walk into because while there's really a
lot of upside on some of these risky
place there's a whole lot of downside to
when you say oh look it's a 10-cent
stock how low can it go what can go 2-0
you know but but but but but but at the
same time some of those 10-cent stocks
you're gonna be $5 talks to Byron you
not visited John Mark and Mexico and
reviewed some of herbicides property
bank and I like to find out from you
what was what do you recall from that
experience Oh several things first of
all visiting Mexico with John Mark is
worth the trip just to spend time with
John mark I say this what he's sitting
here on real embarrassing but he's just
a wealth of knowledge he's been studying
Mexico he's been studying the western US
for years and years and years
he doesn't look nearly old enough to
have done this but but it's true he did
so first of all it's an ad it's it's you
go on a field trip with John Mark and
you come back with a master's degree in
John marked them and you're you are
geologically much smarter than you used
to be that's one of the things I
remember other things I remember and we
were talking about this before Riverside
made their deal with bhp to become the
exploration you know
partner in Mexico for bhp but you know
John Mark has this just this list of
things of names of places that that are
all worthwhile exploration opportunities
or
opportunities a couple of the ìiî I mean
I remember one particular one just south
of the US border with Arizona can I say
the name I'll just Cecilia I'm in love
with Cecilia a beautiful a beautiful a
gorgeous geologically situated of other
places we were driving along this one
we're area going to this one exploration
said I'll let John Mark tell the whole
story but I mean when you look out the
window of the truck as you're driving
along to sort of bounce the ground on
this gravel road and the gravel is made
out of is green and you look down me
said she was the gravel green he said
well it's because it's made out of
malachite you know well not sure Malaga
but I mean it's enough malachite to like
I mean you're driving over a perfectly
good or you know to get to the
exploration zone so all right all right
right away I'm thinking where do we got
something there's something here so
those are some of the things that I
remember system mark John mark
personally a John mark you know
professionally some of these fabulous
locales that he's been able to stake out
and claim for the company over the years
and now he's partnered up with pH bhp
which has you know a nice deep pockets
right you know good write big checks for
good projects of which there are many
the John Mark what has he been is that
prospect generators and in particular
riverside resources have in the current
climate of mineral exploration and
especially as it relates to cove in
nineteen well the first thing is the
prospect generators have a portfolio so
it's not betting on one project though
is cove in nineteen and these other
things are causing problems they're not
necessarily homogeneous everywhere and
so there's opportunities i think the
second thing for the prospect generator
is they're usually partnered as we
mentioned we're partnered with other
companies so they're not going off their
balance sheet the third is you know they
have quality projects or projects that
other people are funding and working on
so they must have something of interest
to allow those people to wish the good
that's what they've come to do diligence
for us we've been positive in generators
working with Antechinus forklifts
partial and now with PHP so we've had
good projects and I think yeah you may
be is that
you're one group that has good projects
in this market you have a really good
chance for success John Mark were a
couple of the key mineral exploration
objective River Site is progressing
during the Cova 19 social distancing one
of the key things is our slip out of
Capitan lining which is going well we
actually have the AGM and now we've had
the approval through the pea sequence
now we're working for the TSX listing in
the financing the gold price going up is
really great because that's what copy
thanh is it's a open hip cold project
that Riverside owns so that's one of the
big things we've been doing the other
thing is working with PHP and that we've
been able to move ahead with programs
and the third is we're working on some
new deals I think people at home has
been great they're able to call them and
do lots of business usually it's hard to
catch people they're on planes we're
running around the meetings bramble to
have lots of meetings and Skype and
different ways to go over data and we're
now over there we do a number of term
sheets so we look forward to having more
deals announced all right in closing mr.
King what keeps you up at night that we
don't know about well there's there's a
lot of doubt about just you know where
the economy is going I mean the the hope
of the virus the virus is a medical
issue it's an epidemiological issue I
mean you know we you know if you paid
the slightest bit of attention to it
you've probably gotten a lot smarter
about biology and medicine and
epidemiology than you were a month ago
but then we have the whole and I want to
say that that matter will resolve I mean
I mean this is a bug it is a virus it's
not the world killing plague that's
gonna wipe out humanity or anything but
but it has accelerated a lot of trends
that were sort of in motion that may
have occurred but now they're all you
know jamming us right in the face
everything you can think of I mean from
the idea that you know that your local
school is now online colleges are online
you know the kids are home from school
or what have you
I mean we've completely changed
education we've completely changed the
idea that millions tens of millions of
people are working from home
I mean that's going to change the real
estate business the I mean the idea that
so much change is happening so quickly
that is that there are so many unknowns
and just sort of pieces of fallout from
that that are going to occur and so that
it and so I I think about you know where
where is all this going now considering
you know what I do and with much of my
time which is I spend my time doing
geology worrying about the minerals and
mining business whatever I'm thinking
about this in terms of what does this
mean in terms of mines and minerals I
mean does the world still need copper
gold silver lead zinc rare-earth
minerals all these sort of thing well
the answer is yes it does you know and
so the question is how will how will the
area that I you know I'm knowledgeable
about how will it adapt and so in terms
of you know thinking about you know
about the future I mean I you know I
mean I was mining companies companies
like you know Riverside people like John
Mark I mean there are other other
companies out there I mean I want these
companies to be succeed successful alone
I want these gentlemen to succeed in
these gentle ladies there's some women
in the business to I want these people
to succeed I want to do well and the
question is that in the in the in the
economy that has evolved you know with
millions of unemployed and the
government just you know spending money
like you know like it's the Niagara
Falls of dollar bills or something you
know I mean what is all that kind of do
to the whole financial and economic
underpinnings of what what I'll say we
you know can summon go2 but you know
what we do out there in the field which
is real science real geology because
this has to work you know we could
because I mean we of the trends that
were coming before not enough copper you
know not enough rare or it's not it you
know not enough you know not enough
battery metals technology metals all
those things are going to be there on
the other side of this virus issue so in
terms of myself in terms of what I think
about don't worry about I worry about
that'll I stay up late or wake up
another night you know thinking about
you know what's the next what's the next
back to you
jean-marc what keeps you up at night
that we don't know about for me I really
think that we feel the up but not the
falling that these are so bad but really
you know it's duty I feel we're getting
through this well we flatten a curve and
so I hope that people will realize that
with context things will go ahead and we
actually do a business and you know
particularly in the mining sector what
keeps me up at night is people are
forgetting that we actually need to line
and that's a vital thing but too
disappointed that as the jurisdiction
for not plowing and binding to go
forward because it is vital I think
that's something that we can do to
produce resources or the planet that'll
make the planet stronger and we
definitely need those to grow the
economic rebound that we're up for last
question dr. Stoney what did I forget to
ask Oh
you've asked a lot this is great but I
think one thing is from Riverside
standpoint is we really look forward to
talking to shareholders so please come
and reach us out on our website please
call us and also we're very keen on
communicating online so we'd love to
mean a get with people then you also
send us any emails or visit our website
and doctor study what is that website
it's RIPD or yes calm mr. King what did
I forget to ask well in a very mercenary
sort of way you forgot to ask me what
newsletter I write and the answer to
that is I write a newsletter called
whiskey and gunpowder I work with a
group called Agora financial and so you
want to go to Agora financial a Geor a
financial you know calm and and you'll
find your way to you know it's actually
a free e-letter so it doesn't even cost
you anything it's not even one of those
$59 a year things but it's it's a free
e-letter it's called whiskey and
gunpowder and then on a more serious
note the one thing that we did not
discuss all the way out guys we
mentioned a little bit you got to keep
an eye on the energy industry right now
there is a there's a price war going on
Saudi Arabia's decided to flood the
world with oil there's 200 million
barrels just floating around on tankers
out there you know we not long ago we
saw the price of oil go neg
from West Texas Intermediate the US and
Canadian energy industries are being
completely totally utterly wrecked you
know by this price war and the longer it
lasts the the more the carnage and what
you want to be really careful about and
worried about to some extent is what's
what is the global energy industry going
to look like on the other side of the
this current economic situation you know
are we all gonna go back to the you know
to the good old days of relying on the
Middle East for for our oil and then the
other angle to this is the the the petro
dollar which you know the US dollar as
the world's reserve currency is under
extreme threat with the breakdown of
international oil markets I mean
breaking down international oil is
another way of breaking down the petro
dollar and when the petro dollar fails
as a monetary instrument in the world
notice I said when it fails because I'm
not sure how you can fix it from here we
are in for a really wild ride if you
think this Wow right as well and the
next wild rides going to be worse and
that is why bring it all back that's why
you need to have some gold is go the
gold is what is going to preserve your
wealth through the you know through
through whatever rough seas lie ahead
and I'm pretty sure that there are some
rough seas and I'm pretty sure that
they're coming our way
and speaking of gold before you make
your next bullion purchase make sure you
call me I'm a licensed representative
for Miles Franklin precious metals
investments we provide a number of
options to expand your precious metals
portfolio from physical delivery to
Officer depositories and precious metal
IRAs call me directly at eight five five
five zero five nineteen hundred or you
may email Maurice and Miles Franklin
calm finally we invite you to subscribe
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gentlemen I'd like to thank you both for
your time and I look forward to speaking
with you in the near future
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