Investor Ideas at 2018 VRIC; Hear Thought Leaders on #ICOs and #Blockchain, #Mining and the Economy; @Cambridge
Frank Holmes of U.S. Global Investors and Chairman of HIVE Blockchain Technologies Ltd (TSX.V: #HIVE.V), Peter Schiff, President and CEO of Euro Pacific Capital, Amir Adnani of Uranium Energy Corp (NYSE: $UEC), Eric Fier, CEO and Director of SilverCrest Metals Inc. (TSX.V: $SIL.V) at VRIC
Point Roberts, WA and Delta, BC - January 24, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in top sectors including mining and precious metals with its Bitcoin and blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com issue audio and commentary from the recent Vancouver Resource Investment Conference.
The 2018 Vancouver Resource Investment Conference (VRIC), held at the Vancouver Convention Centre on January 21 and 22 in Vancouver, Canada, attracted over 8000 attendees, speakers and exhibitors meeting to explore 250 public and private resource and mining companies.
Among the more eagerly awaited speakers was Frank Holmes, CEO and Chief Investment Officer of U.S. Global Investors Inc., and Chairman of HIVE Blockchain Technologies Ltd (TSX.V: HIVE). Holmes's speech, titled "My Journey Thru the Blockchain and Cryptocurrency World", enthusiastically highlighted the emerging blockchain technology that underpins HIVE, and the shift happening in the investment community toward cryptocurrency and initial coin offerings (ICO's).
Listen to Audio Summary of Speakers at 2018 Vancouver Resource Investment Conference (VRIC): http://www.investorideas.com/Audio/Podcasts/012418-VRIC.mp3
Investor Ideas at 2018 VRIC - Frank Holmes Talks ICO's & HIVE Blockchain and Peter Schiff Talks Economy
Holmes said a part of the growth of ICO's was the change in values between his generation and young people today.
"There are more millennials than there are baby-boomers," he said. "The baby-boomers have all the capital, but the millennials have the technology. And their world, their values and beliefs are very different from ours. This is why the ICO's are growing rapidly and they are taking away a lot of money from junior mining. Last year $4 billion dollars went into these initial coin offerings (ICO's)."
Holmes also mentioned the speed and convenience of getting involved with cryptocurrencies and how it has led to greater flow of money in non-traditional investment models.
"It's so easy to open an account at Coinbase; like five minutes. It can take two days to open an account at Schwab," he said. "There's a big shift happening. Crowdfunding garnered $50 billion dollars last year outside of the normal securities market."
Holmes attributes the success of blockchain in part to Bitcoin, which he said was comparable to the impact of email.
"Bitcoin is like the email that woke up the internet," he said. "When the internet first came out it was basically a place for gambling and porn, and it was slow at both. And then all of a sudden along came email, with AOL, and everyone started using it. What Bitcoin is doing for blockchain is the same thing."
Another high profile speaker was Peter Schiff, President and CEO of Euro Pacific Capital, who had a more pessimistic speech titled, "The Real Financial Crisis is the one That's About to Hit."
Schiff burst the bubble of many investors by demonstrating the artificiality of the stock market boom and the U.S. economy under Trump.
"The economy has not improved under Trump," he said. "We don't have a booming economy. Trump keeps telling us we have a booming economy, but nothing is booming."
Schiff disputed the impact and validity of unemployment figures.
"Yes the unemployment rate keeps going down, but it was going down before Trump became president," he said. "The trends that have continued are the collapse of labour force participation and the proliferation of part-time jobs. In fact, real wage growth is actually lower."
Schiff said the tax cuts under Trump will not benefit the economy because government spending has not been reduced to correspond with lower budget.
"Are they going to grow the economy? No, because they didn't cut government spending," he said. "You don't get government for nothing. Taxes pay for government, but if you cut taxes and you don't cut government, how do you pay for that government? That's all we did with the Republican tax cuts. We decided to borrow the money instead of raise it with taxes."
Though there was a lot of talk about cryptocurrencies and blockchain, the conference was still dominated by resource and energy companies. Amir Adnani, founder and CEO of Uranium Energy Corp (NYSE: UEC), spoke about the increasing focus that the Trump government has placed on uranium, which the country still mostly has to import.
"This is about Trump having appointed Rick Perry, the former governor of Texas, the energy capital of the U.S., to lead the department of energy, and has given him a mandate to make the states more focused on this issue of uranium imports," he said. "Almost 98 percent of U.S. uranium requirements are being imported."
In anticipation of a healthier uranium market in the U.S., Adnani talked about his company's impressive assets and robust position to take advantage of any opportunities in the market.
"We look at the downturn in the uranium market as an acquisition opportunity," he said. "We're aggressively making acquisitions. After 13 years of building this company, today, our asset portfolio is diversified and large. We have 99 million pounds of uranium in the ground, 70 million pounds of vanadium, and the world's largest highest grade titanium deposit in Paraguay."
"If uranium prices go up tomorrow, we don't have a CAPEX to finance to build a processing plant. It's there, it's permitted for two million pounds per year."
In a workshop, Eric Fier, CEO and Director of SilverCrest Metals Inc. (TSXV: SIL.V; OTCQX: SVCMF) gave some background to the company's Las Chispas property in Mexico and brought investors up to date on its findings.
"The Las Chispas property historically started production in 1790 with the Spanish," he said. "It produced intermittently up to 1930. There was approximately 100,000 ounces of gold and a significant amount of silver. We didn't think we'd be finding such grades, but that's what we've been hitting over the last two years in our exploration program."
"This resource will be one of the highest grade silver to silver-gold, silver equivalent ratio in the industry."
By Samuel Mowers, Investor Ideas
About 2018 Vancouver Resource Investment Conference; @Cambridge
SilverCrest Metals Inc. (TSXV: SIL.V; OTCQX: SVCMF) is a featured company on Investorideas.com
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