Adam Fleming And James Turk On Precious Metals And Mining

Tyler Durden's picture


Adam Fleming, Chairman of Wits Gold and Fleming Family & Partners (yes, related to Ian Fleming of James Bond game), discusses the gold bull market with GoldMoney's Chairman James Turk. Topics include metal price action, the eurozone's debt crisis, and mining in South Africa. Both men think that we are the "in the foothills" of a long precious metals bull market, and that the gold price is in some ways cheaper than it was back when they spoke at GATA's Dawson City conference in 2005, owing to all the quantitative easing – or more bluntly, money printing – that central banks have engaged in since the financial crisis of 2008.

Adam points out that gold bull markets usually result in a 1:1 Dow/Gold ratio, something that he expects to see happen in the coming years. In other words, it's still a great time to buy gold. Adam is pessimistic about the eurozone, and thought plans for European Monetary Union were delusional, on account of the differences in culture and political economy between different European Union countries. He also discusses his mining experience in South Africa, and why – contrary to much negative press the country gets – it is actually still a great place to live and work. He expects companies to increase their mining investments in the Witwatersrand Basin, and thinks that this region will remain the world's premier gold mining location. This video was recorded on May 18 2012 in Jersey, British Channel Islands.

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Tue, 05/22/2012 - 08:12 | 2450296 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

' bull markets usually result in a 1:1 Dow/Gold ratio, something that he expects to see happen in the coming years. In other words, it's still a great time to buy gold(/equities?).'

Tue, 05/22/2012 - 08:14 | 2450301 GetZeeGold
GetZeeGold's picture



Adam is pessimistic about the eurozone


Wow.......this is the first I'm hearing about this. What's going on over there?


Tue, 05/22/2012 - 08:21 | 2450308 Doubleguns
Doubleguns's picture

Yea but this interview took place back on May 18th so he was ummm early? LOL

Tue, 05/22/2012 - 08:56 | 2450416 BeetleBailey
BeetleBailey's picture

...something to do with lots of people living off of a few people.....nothing to worry about.

Bank Guy in Brussels says one can buy cheap but good wine there.Taxes are all piled into one big smooch.

None of this state tax, ass tax, douchebag tax. No monkey business.

Living is easy. No worries......printing money.....people lounging around......


Tue, 05/22/2012 - 08:25 | 2450315 tocointhephrase
tocointhephrase's picture

Silver Bitchez!

Tue, 05/22/2012 - 08:29 | 2450321 Jolly.Roger
Jolly.Roger's picture


Tue, 05/22/2012 - 08:28 | 2450323 Ratscam
Ratscam's picture

great weather in one of the best tax trust fund heavens on earth ....

Tue, 05/22/2012 - 08:46 | 2450372 scatterbrains
scatterbrains's picture

Silver technicals are far from bullish *yet* and there may be a chance to buy or add at lower prices for the long term bullish trend..




Tue, 05/22/2012 - 09:14 | 2450502 Peter Pan
Peter Pan's picture

I think that a Zero Hedge reader should have written the article and simply got Fleming to comment. Nothing ground breaking here.

Tue, 05/22/2012 - 09:40 | 2450660 Roy Bush
Roy Bush's picture

Nothing is ever really "new" for the gold/silver crowd.  Same fundamentals...they never change.

Tue, 05/22/2012 - 09:37 | 2450646 geewhiz190
geewhiz190's picture

no mention, so far, in today's ZH of the article in FT about weakening global demand for gold.  this website puts some great stuff on it, but when it comes to gold it's nothing but an internet tout  sheet for gold. having an agenda weakens credibility. Personal bias only lessens the odds of making correct trades.

Tue, 05/22/2012 - 09:52 | 2450709 Yohimbo
Yohimbo's picture

Chinese are asset obssessed (they have cities literally full of copper rolls). americans are also asset obssessed, but the difference, americans are paper fools. Who will win? 

(that was a rhetorical question)

Tue, 05/22/2012 - 10:06 | 2450775 Alex44
Alex44's picture

Mr Fleming says the USGS states that 50% of all remaining gold reserves are in South Africa. Easy to find out. So you go to their web page on gold and find world reserves of 51,000 tons with South Africa reserves at 6,000 tons. I call bullX&*%.\

In addition, Mr Fleming syas SA is just a dandy place with all kinds of opportunities and the ANC is cool etc. So you go to SA crime stats and find that SA is called "the rape cpaital of the world". 1 of 3 women have reported being raped. IN THE LAST YEAR. Just read below, it gets worse.

OK, enough of this BS artist idiot.


Tue, 05/22/2012 - 10:44 | 2450903 akak
akak's picture


He expects companies to increase their mining investments in the Witwatersrand Basin, and thinks that this region will remain the world's premier gold mining location.

Given that South Africa's share of total world gold production has fallen from 67% 42 years ago to around 7% today, as well as its production having fallen not just in relative but in absolute terms as well (48 million ounces in 1970 vs. 7 million ounces in 2011), I would say that South Africa is obviously not only far from being the "premier" world gold mining location, but is far from being even what it once was.

These kind of egregious lies are usually the province of central bankers and their lackies (Jon Nadler, I am talking about you), not the advocates of the precious metals.  How embarrassing and shameful.

Tue, 05/22/2012 - 10:18 | 2450808 Disenchanted
Disenchanted's picture



'The Gold Fixers'


The world’s three biggest mining companies – BHP Billiton, Rio Tinto and Anglo American – are controlled by Oppenheimer/Rothschild/RD/Shell mob. In 2010 the first two talked of merging.


Rhodes was a leader in European Freemasonry, where he mingled with the likes of the Rothschilds, King George IV, King William IV, Lord Randolph Churchill (Winston’s father), the Marquis of Salisbury, Arthur Conan Doyle, Rudyard Kipling and Oscar Wilde.




The Babylonian Woe by David Astle


The Babylonian Woe; a Study of the Origin of Certain Banking Practices and of Their Effect on the Events of Ancient History Written in the Light of the Present Day.


Babylon's Banksters: The Alchemy of Deep Physics, High Finance and Ancient Religion



"you shall not crucify mankind upon a cross of gold". ~ WJB

Tue, 05/22/2012 - 18:23 | 2453057 blindman
blindman's picture

sweet links

Tue, 05/22/2012 - 22:19 | 2453728 Ranger4564
Ranger4564's picture

Thanks for the links, Dean Henderson's blog is quite good.  Will check the other sites.

Tue, 05/22/2012 - 11:07 | 2451041 Snidley Whipsnae
Snidley Whipsnae's picture

Gold is money and nothing else... JP Morgan

When the people of the world find themselves asshole deep in paper they will realize that PMs are the only way to keep bankersters/pols honest.

nough said...

Do NOT follow this link or you will be banned from the site!