Sprott's John Hathaway: Gold, the simple math


12:45p ET Friday, October 16, 2020

Dear Friend of GATA and Gold:

Sprott gold portfolio manager John Hathaway this week published a report detailing the many factors supporting investment in gold and gold-mining companies.

Hathaway writes: "Gold-mining shares represent unprecedented value relative to their history and in comparison to conventional equity alternatives. For example, miners trade at EV/EBITDA (enterprise value to earnings before interest, taxes, depreciation and amortization) of 8.52x compared to the equal-weighted S&P 500 of 16.33x, the widest spread in 10 years."

... Dispatch continues below ...


Storage and Withdrawal of Gold with Bullion Star in Singapore

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.

For more information, please visit Bullion Star here:


What explains this disparity? Hathaway doesn't, but maybe it has something to do with the efforts of central banks to support general equities prices and suppress the gold price. As market analyst, author, and geopolitical analyst Jim Rickards was permitted to say on CNBC in 2009: "When you own gold you're fighting every central bank in the world." But being candid enough to acknowledge this can make it more difficult to sell gold-related investments.

Maybe that's why Hathaway gets invited to speak at more financial conferences than GATA does.

Hathaway's report is headlined "Gold, The Simple Math" and it's posted at Sprott here:


CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Join GATA here:

Mining Investment Asia (Virtual)
Monday-Wednesday, November 2-4, 2020

Mining Investment North America (Virtual)
Wednesday-Thursday, November 11-12, 2020


* * *

Toast to a free gold market
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here's what the bottles look like:


Buyers can compose their case by choosing as many as four varietals from the list here:


GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --


-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:


To contribute to GATA, please visit: