'That's when the multiples begin to come back' - Peter Marrone on mining equity lift-off
Despite gold hitting several all-time highs in 2024, margins have been a drag on mining equities, said Peter Marrone, chairman and CEO of Allied Gold.
In early June, Marrone spoke to Kitco Mining at THE Mining Investment Event of the North.
Marrone noted that gold spiked at the start of the decade to around the $2,020 level and then stayed relatively flat until recently. Marrone said that during that time, margins amongst gold miners declined from about $750 to $575. The VanEck Gold Miners ETF (GDX) has come anywhere near its highs from the start of the decade.
"That run-up in gold price is…
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