Rick Rule: The new way China is putting “big money” into gold
From Sprott's Thoughts:
Rick Rule, Chairman of Sprott Global Resource Investments Ltd., says some of the "big money" that was circling the resource sector has finally found a home. Rick Rule recently commented on a couple of new investment mandates that he believes signal a positive development in the resource sector.
The first mandate is a deal for Sprott Asset Management to co-manage upwards of $110 million in funds along with Zijin Mining Group Company Limited, the largest publicly traded non-ferrous metals mining company in China. $100 million of those funds come from Zijin while $10 million is to come from Sprott Inc., Sprott Asset Management’s parent company.
Sprott CEO Peter Grosskopf said: "We believe the combination of Zijin’s technical strengths and Sprott’s resource investment expertise will prove to be an attractive option for investors looking to invest in the mining sector with a focus on gold."
In another development…
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