Mickey Fulp: It’s Been a Negative Year, but This Metal Stands Out

The year is nearly over, and at the recent New Orleans Investment Conference Mercenary Geologist Mickey Fulp shared his thoughts on the resource space.

“I think the [commodity] that’s stood out in terms of a bullish market is the recovery of the uranium market,” said Fulp. He added that prices have seen “a very good stepwise rise,” increasing steadily from about $22.50 per pound in April to over $28 currently.

Fulp continued, “that’s been positive, and I think everything else has been negative this year. Every metal is down from what it was at the beginning of the year.”

He believes macro factors such as the US/China trade war are responsible for that price activity. They have “allowed speculators who are bearish to come in the market,” said Fulp.

“I think the supply/demand fundamentals for … the base metals, especially copper, remain strong, but they’ve really underperformed because of shorts in the market. [The] same thing happened with gold,” he added. The yellow metal has also been impacted by US dollar strength.

When asked whether there’s money available for miners in this environment, Fulp explained, “there is money out there for good projects and good companies. I think there’s a lot of money on the sidelines here waiting for a recovery in commodity prices. There’s lots of money, there’s lots of smart people that are sitting on their money waiting for this market to turn.”

Listen to the interview above for more insight from Fulp, including his best investment so far this year. You can also click here to see the full New Orleans Investment Conference playlist on YouTube.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.