Sector Expert: Rob McEwen
Rob McEwen is the chairman and chief owner of McEwen Mining Inc. He is the founder and former chairman and CEO of Goldcorp Inc., which is one of the largest gold producers in the world. In 1990, McEwen jumped from the investment industry into the mining industry. By 1993, he had begun a consolidation of five companies that would take eight years to complete. The resultant company was Goldcorp Inc., which has become a gold mining powerhouse. During the last thirteen years of Rob being Goldcorp's CEO, the company's market capitalization grew from $50 million to over $8 billion and its share price grew at a compound annual rate of 31%. McEwen was awarded the Order of Canada in 2007 and the Queen Elizabeth's Diamond Jubilee Award in 2013. He holds an Honorary Doctor of Laws and an MBA from York University and a BA from the University of Western Ontario. Also, he received the 2001 PDAC Developer of the Year Award and was inducted into The Canadian Mining Hall of Fame in 2017.
Rob McEwen, chairman and chief owner of McEwen Mining and former CEO of Goldcorp, speaks to Streetwise Reports about the impact of trade wars on the dollar and precious metals, where he sees the growth in precious metals equities, and how he plans to qualify McEwen Mining for the S&P 500.
Predicting is a risky sport and predicting markets an extreme one. But understanding can be much more lucrative. After years of speculation about the negative impact a Federal Reserve rate increase could have on gold, a number of our experts took a contrarian view and based on an understanding that the hike was already priced into the gold price, they explained that it would actually benefit the gold price because it would remove the overhanging doubt. And that is exactly what happened. Within hours of the unanimous announcement on Wednesday that the Fed's benchmark short-term borrowing rate would go up a quarter point, gold was up $14/oz.
What does a veteran mining executive look for when investing his money in junior equities? In this interview with The Gold Report, Rob McEwen, who has been predicting $5,000/oz gold prices since 2011, explains why he still thinks that this is a possibility in the next four years and how companies can take advantage of technology to ensure that a price rise goes to the bottom line—and ultimately shareholders. And he shares the names of the three companies that meet his litmus test, one of which bears his name.
"RBY's development with AEM is positive."
The Gold Report Interview with Rob McEwen