Comments
Transcript
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MOthe ruler!!
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BBHi Tom, I disagree, there still is a lot of gold in good jurisdictions. There just needed to be a way to get it out that is fundamentally different to how we mine at the moment. If I could get the chance to explain this to you I would be very grateful. You can get my contact details off Damian Horner.
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JJChicken soup for my gold and silver portfolio.
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RMWatching this video I felt like I suddenly became nearsighted and watched two Leopards contemplate eating Liberace for an hour, Good interview but might want to improve the focus.
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HSFull of superlatives and resume talk. I'll pass on future discussions with this person. Rick Rule is fine, though.
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TKThis was incredible and such an interesting life story. I'm going to continue accumulating AGQ.
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DYThomas is a real gentleman and a scholar, a very rare breed these days.
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NLI could listen to Kaplan speak for hours - please bring him back again soon!
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BHQuite simply changed by view on mining, especially considering geopolitical risk adjustment. Brilliant insights from Kaplan and what a great educator and story teller. Thank you Rick for a fantastic interview!
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YBIs there a list out there of gold and silver miners that get their production exclusively from North America and Australia?
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JTI’m having trouble putting together the statements of two great minds. Kiril Sokoloff says that “The profits of the gold miners are literally going to be just phenomenal. The all-in cost of production is roughly $1,000 an ounce, and here you are at $1,900.” Yet Mr. Kaplan says that “So then the question is, why would you want to own gold? Now, my favorite argument for owning gold is that the mining industry itself is such a disaster. “. Could someone far more savvy than myself explain this contradiction? Thanks!
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FLsimply brilliant, both host and guest! thanks.
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MMDifficult to top that interview. Passion. Where do passion and intuition meet? Which comes first?
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CBReally outstanding interview. Double thumbs up! I find Dr. Kaplan always interesting to listen to. I also also get value from Rick Rule, in this case as an interviewer.
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DSWith the cost of the pandemic to all levels of government, it is possible that even Australia, the US and Canada will have to go after all the revenue they can get also. I have followed Dr. Kaplan's advice and have gold miners in these jurisdictions as the best chance. I do have one question about Nova Gold, I hope it is not inappropriate in this setting. Dr. Kaplan discusses the mining operations in NG in Alaska to begin when the price of gold gets to a certain level. To my knowledge Dr. Kaplan has not discussed what that level is. I know there are many variables. I believe I heard somewhere that Barrick Gold, a partner, said that they did not include revenue from NG in the next seven to ten years in there cash flow. (I am sorry if I am wrong in this memory.) I have had some NG in my portfolio since Dr. Kaplan's first appearance which has increased in value. I would like to know if the seven to ten-year time frame mentioned is also Dr. Kaplan's time frame. Thanks, DLS
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JCWell rather dandy that i had my smoking jacket on and sherry poured for this one. My only regret is that i took an early leave to chase the hounds in pursuit of a fox.
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SMhow you let background slide? lol
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AMGreat interview, so nice to listen to people with a wide perspective.
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JHFantastic, just a genuinely fascinating guy. Couldn't care less whether I got any investment advice or knowledge from that but, as a bonus, I did.
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MDEnjoyed this interview. Thank you. Be interesting to apply the same scrutiny to BTC as per the way Dr K surrounds himself with intelligent people. Perhaps too there an analogies from the themes from this video to BTC? Sorry for the detour, but I don't think it (BTC) was even mentioned in the talk, but these days its hard not to consider gold/silver without their digital equivalent.
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kmESG =/= CSR
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MCGreat interview. Dr. Kaplan touched on how jurisdictional risk in Canada mostly occurs at the provincial level as that is the level of government which permits are issued and revenues are taxed. Ontario and Quebec have a strong history of mining and local support / talent pool to draw from in their districts, but I would've loved to hear his or Rick's take on British Columbia and its government with respect to mining. There are a number of intriguing development and exploration plays up there in the Golden Triangle that very few generalist investors have heard of yet offer compelling risk reward investment thesis.
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PJRick is probably my favourite go to for PMs and PM stocks, there is no one with a more in depth and balanced view IMO. I have to admit that I just didn’t get much out of Tom’s views here or on his previous interview. Obviously others did.
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FMBullish on BTC after this
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RMWhat a brilliant discussion. The insight, historical view of the sector, the fundaments that support the outlook - simply outstanding. Being someone who has lived and worked across emerging markets - a lot of what Tom said makes eminent sense. As many have requested below - lets do a series
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VBVery enjoyable - Aaron Sorkin-esque RV video.
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IMFascinating, wholesome interview!
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WTHe probably doesn't drink much beer, but when he does, does he drink Dos Equis?
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mpAmazing
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NIThanks to both of you for a great conversation. Much appreciated. When Dr. Kaplan returns, I would like to hear more about his framework for gold price appreciation. In this discussion he touched briefly on supply constraint, but demand must also be considered. It would be awesome if Rick Rule and Dr. Kaplan compared and contrasted their views on the future gold price. I'm also curious what Dr. Kaplan thinks about cryptocurrencies like bitcoin.
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DBFascinating to learn about industries through the life experiences of a highly successful person and leader in that area.
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JTThis yet again cements my conviction that the only small miner for my portfolio is Ross Beaty's EQX. Aside from that I'm only long the biggest names. It is more important than ever that the owners are concerned about safe jurisdictions and/or carry considerable weight.
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OCWonderful and so wholesome. Thank you for this interview.
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CSDr. Kaplan, or is he really Dr. Indiana Jones? What a rich life lived. Kudos.
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GPReally enjoyed listening to two life-enhancers. Thanks
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mhListening to these two is always enlightening, PARTICULARLY in the art of diction.
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JPGreat to see Rick Rule. Keep him coming back.
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JMWOW! We need more history professors! Dr Kaplan is an articulate, engaging and thoughtful person. What a fascinating interview? And who knew Rick Rule could interview so well? This could develop into a series. Thank you RVTV.
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JTLove this man (and the Sy Sims’ reference)!
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AMTerrific conversation. Some colour on Canada hopefully without getting too political...not that anyone cares about Canadian politics. Gold mining in Canada will always get the thumbs up simply because most of Canada's gold is produced in Quebec, Ontario, and Nunavut which are all in the east. On the other side of this is the oil sands mining and natural gas extraction industries which will always end up getting the shaft because over 90% of Canada's crude oil is produced in Alberta and Saskatchewan and 100% of Canada's natural gas is produced in Alberta and B.C. which are in the west. The federal politicians reside in Ontario.
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DTPeople at RV are also life enhancers, such a great content at affordable prices, incredible! Thanks guys!
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AOGreat interview and very inspiring!!
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AmWhat a nice dude!
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RYSuperb - love Rick Rule
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CDAwesome man, awesome men in fact. Rare to mix humanities with business acumen. Re nationalisation risk... I seem to recall that Ross Beatty didnt really subscribe to the 'swap line'/friendly jurisdiction thesis as a way to approach risk. I really wonder why.......seems so clear particularly looking at Turkey today
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KOFrom an economic perspective he killed it in those countries. From humanistic and ethic perspective he took advantage of those countries poor gubernamental and fiscal control, on top of the uncontrolled corruption, to make profit and then allocate to US. Not sure ir its a role model.
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SSEnjoyed this in many ways.
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NPAll Kaplan interviews are the same. 1) Oxford education summary from 30 years ago. 2) Long Gold and mining recap. 3) Big Cats. I've never seen an interview that doesn't follow this format. Is there anybody in financial media that has the courage to go outside of these topics, or does Kaplan agree to be interviewed only if this format is followed?
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DWVery different type of interview and very unique perspectives - great interview!
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DOsuperb!! Rick Rule is as MASTERMIND!! CHEERS!
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JSSuperb
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SCThank you!
Chapters
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Kaplan's Background: History, Macro, Silver, and Soros
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Political Risks of Mining in Other Jurisdictions
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The Role of Luck
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"Resource Nationalism" and Jurisdictional Risks in Emerging Market Countries
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Gold, Silver, and Precious Metals Miners: "A Generational Opportunity"
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Panthera and Big Cat Conservation