Worried about mining’s lack of mineral discoveries? Don’t be


Next time you hear a pitch about declining mineral discoveries, keep in mind it is a story miners have been telling for decades, said Douglas Silver, CEO of Balfour Holdings.

On Friday Silver joined editor Neils Christensen, Kitco correspondent Paul Harris and mining audiences manager Michael McCrae to record a podcast.

Silver has had a career being on the right side of industry trends. He was founder of International Royalty Corporation, which was acquired by Royal Gold in 2010. Total deal size was C$750 million.

Douglas Silver told Kitco Roundtable he looked at pitch decks going back to the ’80s, which all show a decline in mineral discoveries. What changes over time is that companies don’t disclose a resource until it is material, and changing commodity prices also changes what constitutes a discovery.

2:30 Inflation and gold

11:00 Gold ETF flows

24:32 Interpreting prefeasibility studies

38:00 Lack of mineral discoveries
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