VANCOUVER — Mining financier and entrepreneur Ross Beaty told an audience at the Vancouver Resource Investment Conference in late January that it’s a “phenomenal” time to buy resource stocks.
“The tide is way out and it’s a buyer’s market everywhere across the board from oil, mining, currencies, and real estate,” Beaty said. “Every so often cycles get to the point where they’re at today and it’s just hard to lose. It’s a wonderful time to be in the market.”
He admits the vast majority of his money has always gone into companies he either manages or is otherwise involved with, but in recent years, he’s been beefing up his stake elsewhere in the junior resource sector.
Notable transactions of late include taking a 9.89% stake in Kaminak Gold (TSX: KAM) for $6.7 million; 9.7% of Dalradian Resources (TSX: DNA) for $11.3 million; and ploughing $5 million into Odin Mining and Exploration (TSXV: ODN).
Beaty said the first thing he looks at when considering an investment is the quality of the company’s management team.
“The companies I invest in are run by good people and people I can trust so I don’t have to worry about it, but that’s easier said than done,” he said.
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