'We're not in an overheated market' - Rob McEwen says miners have room to run

The broader markets won't be able to ignore the gains the miners are making, said Rob McEwen, chair and chief owner of McEwen Mining. 

Last week McEwen spoke to Kitco Mining at the 2024 Precious Metals Summit Beaver Creek in Colorado. 

McEwen Mining is a gold and silver producer with operations in Nevada, Canada, Mexico and Argentina. 

With gold hitting record highs, McEwen believes investor interest will grow, particularly as investors realize the rapid price increase and potential gains in the sector. However, he noted that while the price surge has benefited senior and intermediate miners, junior miners have yet to experience the same enthusiasm.

McEwen Mining also holds a 48.3% interest in McEwen Copper, which is developing the large, advanced-stage Los Azules copper project in Argentina. Despite the copper project, McEwen still likes gold. 

"I've never deserted gold and it's very much in my blood," said McEwen. 

McEwen emphasized that investors are likely to focus on undervalued junior miners as gold prices continue to rise. He expressed confidence that now is an excellent time to invest, particularly in companies with significant resources or those nearing production but undervalued due to a lengthy permitting process.

"There are certain times when the market gets overheated," said McEwen. "We're not in an overheated market right now."

Coverage of the 2024 Precious Metals Summit Beaver Creek in Colorado is sponsored by Newcore Gold. 

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.