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Sprott explains why he bought a big chunk of First Majestic Silver
3:26p ET Friday, September 18, 2020
Dear Friend of GATA and Gold:
Mining entrepreneur Eric Sprott, in his weekly interview with the TF Metals Report's Craig Hemke for Sprott Money, explains why he has purchased a big chuck of First Majestic Silver.
Sprott praises First Majestic CEO Keith Neumeyer for paying attention to the metal, not just the mine, and for withholding production from sale when the metal's price is low. Further, Sprott says, First Majestic's share price has not risen proportionately with the silver price and there is a big short position in the shares, so he thinks the company is undervalued.
Of course like Sprott, Neumeyer is among the few mining executives who has acknowledged and complained about manipulation of the monetary metals markets.
Hemke's interview with Sprott is 28 minutes long and can be heard at YouTube here:
https://www.youtube.com/watch?v=RP8U9f45H84
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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