Speaking at the Prospectors & Developers Association of Canada (PDAC) convention, Byron King of Paradigm Press shared his thoughts on opportunities in the energy sector, as well as gold and gold stocks.
He currently sees major upside in the mining sector as a whole, saying companies are ‘just on absolute fire sale.’
‘These are the kinds of things that if you get into the right plays at the right points in the next year or so, the next few months — these are things that could set you up for the rest of your life,’ he commented at the event.
In terms of what could trigger renewed interest in the space, King said that sooner or later investors will realize that popular technologies like artificial intelligence and cryptocurrencies require vast amounts of energy.
‘I think that as the momentum of technology, of crypto, etc. — as that keeps going, keeps accelerating into wherever it goes — it has to pull the basic materials, the metals with it,’ he explained. ‘And if just some of that froth on the beer over on the technology side drips back onto the table for the drillers and the diggers, we’re in for some good times.’
King is positive on uranium in particular, and he also discussed gold’s price potential in 2024.
‘It would not surprise me at all to see gold at US$2,500 (per ounce) by the end of the year,’ he said. ‘If you don’t have some gold now, some silver now — get some, okay? I don’t know what else to say.’
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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