Eric Coffin is the editor of the HRA (Hard Rock Analyst) family of publications. Responsible for the "financial analysis" side of HRA, Coffin has a degree in corporate and investment finance. He has extensive experience in merger and acquisitions and small-company financing and promotion. For many years, he tracked the financial performance and funding of all exchange-listed Canadian mining companies and has helped with the formation of several successful exploration ventures. Coffin was one of the first analysts to point out the disastrous effects of gold hedging and gold loan-capital financing in 1997. He also predicted the start of the current secular bull market in commodities based on the movement of the U.S. dollar in 2001 and the acceleration of growth in Asia and India. In this Wall Street View, our host spoke with Eric Coffin, Editor of HRA Advisories at the New Orleans Investment Conference 2014.
Eric Coffin spoke at the conference about the few companies he follows that are development level companies with resource centers along with a few early-stage stage discovery companies. He explains what to look for during the company selection process for investing in precious metals, “A big part in the selection process right now is, you know I look at projects obviously but you gotta find management groups that are capable advancing a company in a really crappy market, which is hard to do. It generally takes somebody that’s got the experience on the financial side, strong technical guys and they basically have the connections to be able to raise money when there’s not much around.”
Mr. Coffin offers his opinions on 2015 and the metals market, “I thought we saw a bottom early this year and it looked that way all the way into September, the wheels kind of came off in September partially because of the gold price coming off, but what actually hurt the juniors a lot was the oil prices coming off at the same time. Basically everything got knocked back against the dollar, it looks to me like we’ve seen a triple bottom in gold. I’m not expecting anything spectacular, but I don’t think we need spectacular, we just need a better stability so the guys that are actually out there and there are a few companies out there doing really good projects where there’s enough of a market that they can get rewarded for good results." For more information, check out his website: www.HRAAdvisory.com
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