The Gold Report Interview with Bob Moriarty (11/30/15)"Almaden Minerals Ltd.is an absolutely perfect example of value-added thinking, Bob Moriarty says. "I happen to like the father/son management team of Duane and Morgan Poliquin. I have been to the project and love it. The company is moving toward production on the Tuligtic project in Puebla, Mexico. It spun the other assets off as Almadex Minerals in a 2-for-1 special for shareholders.
"That's a perfect example of what you need to do in a market bottom. Investors tend to forget that commodities move up and down and you can't kill a project because today's price is too low. You have to weather through it. Is Almaden going to be able to produce silver and gold at a profit at a 5-year/10-year trading average? My belief is absolutely yes, so I don't care what the price is today. I want to see it move forward. The cost of diesel is cheap. The cost of iron is cheap. The cost of labor is cheap. It's a tremendous opportunity to take advantage of that."If you go down to your local Corvette dealer and a brand new Corvette was quoted to you six months ago at $70M, but today the same red sports car is on special for $6M, that sounds like a hell of a deal to me." Almaden applied that logic to its recent purchase of the barely used 7,000 ton-per-day capacity Rock Creek mill, a move that could reduce the initial capital cost estimate of ramp-up for Ixtaca by $70M. "It was an absolutely brilliant move on Almaden's part," Moriarty says.
||Adrian Day, Founder – Adrian Day Asset Management|
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