McEwen Says Streamers Are a Plague; Comments on Mining Space

from Kitco NEWS

A strong advocate against streaming and royalty companies, Rob McEwen joins Kitco News to say why he thinks they are the “plague of the industry.” At the world’s largest mining conference — the PDAC — in Toronto, he told Daniela Cambone that streaming deals are the equivalent to pay day loans in the mining industry. “Mining companies have gone out and sold their profit margins and that’s what bothers me about it. It’s very short-sighted,” he explained. However, the tide might be turning. “Right now, capital markets are starting to provide money to the mining industry and the streamers and royalties will no longer have the lock on financing.” McEwen also commented on gold’s rally and says why he sees a real shift in the market.

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