Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | 

Commentary : Gold Stock Review : Markets : News Wire : Quotes : Radio : Silver : Stocks - Main >> News >> Story  Disclaimer 
Latest Headlines

Gold Seeker Closing Report: Gold and Silver Fall with Bonds and the Dollar
By: Chris Mullen,

Dr Copper back from the dead- time to buy or blink
By: Sol Palha

Peter Boehringer: Bundesbank still has failed to deliver a gold bar list
By: Chris Powell, Secretary/Treasurer, GATA

These Countries Have Already Begun to Ban Physical Cash
By: Graham Summers

47 years after 1968, Bundesbank STILL fails to deliver a gold bar number list
By: Peter Boehringer

Matt Drudge Visits the Alex Jones Show: Full Interview
By: The Alex Jones Channel

The Real Reason for the Refugee Crisis You Won’t Hear About in the Media
By: Nick Giambruno

The Real Reason Belgium Sold 1,098 Tonnes Of Gold
By: Koos Jansen

Deutsche Bank Looks Primed for a Plunge to $9
By: Rick Ackerman, Rick's Picks

Bundesbank “Reassures” Re. Gold Bullion Reserves as Deutsche Bank Shocks With €6 Billion Loss Warning
By: GoldCore


GoldSeek Web

Mining Executive Bruce Bragagnolo: "Gold Will Be The Best Business On The Planet; It's The Only Thing That Works"

-- Posted Thursday, 24 January 2013 | | Source:

By Tekoa Da Silva

I had the chance yesterday to speak with gold mining executive and co-founder of Timmins Gold, Bruce Bragagnolo. It was a fascinating conversation, as Bruce has raised $85 million dollars up to 4 years ago to grow what is now, a near $450 million dollar gold producing company.

What Bruce is doing right now in this market, is closely watching the price of gold, and "constantly scanning" the marketplace for acquisition targets.

On the acquisition side he said, "It's a fear market not a greed market right now. If you look at some of the charts out there, the companies are trading as if gold was under $1000. Relative to the price of gold, these companies are way undervalued, [however], you have to be patient, you have to be gauging the market, and you have to be watching the marketplace all the time. You must be constantly scanning." 

In discussing what might cause a spike in gold, Bruce commented that, "Gold lends itself to the physical market. A lot of the ETF’s are simply options on gold and I think there has to be some catalyst here that will drive up the price of gold.  The catalyst may come in the form of some ETF defaulting, not having the physical gold in their accounts, and not being able to option their way out of it...there has to be some catalyst...where people say, 'Wow, gold's up $100 this month.'"

"The nice thing about the gold market is that you have to have the physical gold to back it up. If you don't have it, then you've got a problem. There's so much paper gold in circulation, that they couldn't possibly cover all these pieces of paper. This is the same thing that they've done in the mortgage market, and same thing they've done with derivatives and swaps. So there could be a short squeeze on at some point in gold which would drive up its price. I can't see a scenario in which the price would go down."

"The conditions that have driven gold to this price have not abated, they've gotten worse and worse. Look at Japan, they're going to be printing more money. They've tried deflation and it didn't work.  If we get inflation, gold goes up along with all assets. If we get deflation, gold is used as a real currency. It's the only thing that works." 

When asked about the journey of founding and growing his company, Bruce said, "We started this company 7 years ago when gold was $425 an ounce...and you have to fight like mad to get to production I'll tell you. Everything's lined up against you...You have to find it [the project], develop it, raise the money, put it into production without giving up the whole company, and you've got guys trying to pull the company out from underneath you in one way or another while you're doing it...there's dilution, there's debt, and it's hard to maintain a good interest in the asset by the time you're finished, so it's not easy." 

In a final word on the gold equities, Bruce added that, "This is one of those normal corrections in the bull market...but we're still in a bull market. This two year correction is really shaking the tree right now. We're going to need to see more fund inflows, and for that to happen, we're going to have to see gold go much higher. So I'm very bullish on gold, and I can't see anything else that's going to be making more money than the gold sector in the next few years. Gold to me will be the best business to be in on the planet. 


Final Thought: Bruce's ongoing comments and actions should be carefully monitored by investors and market students. In a down market, his company has maintained it's deliverance of roughly $350 million dollars of shareholder value...which as he pointed out, isn't easy.

At the bull market unfolds, I'll continue to work to deliver commentary from Bruce and other wealth builder's like him in the mining space.

Tekoa Da Silva

-- Posted Thursday, 24 January 2013 | Digg This Article | Source:


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2015 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of, its affiliates or advertisers. makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of, is strictly prohibited. In no event shall or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.