by Henry Bonner, Gold Seek:
How does a major mining company like Goldcorp use a bear market in precious metals to grow its business?
Well, many of the mining businesses that have been successful over the last 10 to 15 years had their start in the last bear market. The current market feels a lot like 1999-2000 and that was a time when the companies that had the ability to do so had fantastic opportunities to go out an acquire assets at deflated prices and build new companies.
If you look back at the success of Goldcorp, for example, it started with Ian Telfer doing exactly that with Wheaton River. At that point in time, I was part of Glamis Gold and we were doing the same thing — acquiring assets in a bear market at low prices.
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