The Conversation (0)
In an interview with Bloomberg, Mark Bristow, CEO of Randgold Resources Ltd. (LSE:RRS,NASDAQ:GOLD), said that he sees the current poor gold market as an opportunity.
In an interview with Bloomberg, Mark Bristow, CEO of Randgold Resources Ltd. (LSE:RRS,NASDAQ:GOLD), said that he sees the current poor gold market as an opportunity.
As quoted in the market news:
Randgold, the best performing gold miner in the past decade, is debt free and profitable at current gold prices, said Bristow, who has a war chest of $500 million to $700 million to acquire assets from floundering rivals.
‘We have facilities already in place,’ he said. ‘If you look at our history, we have never gone to a gun fight with a knife. We’re getting ready and we’ll go to the gunfight with a bazooka.’
Bristow also commented:
This is an exciting time. The industry blows it’s brains out every time. The reason we’re still in the industry is because the competition isn’t that sharp.