“The premise of Haywood being in any difficulty is both ludicrous and woefully uninformed.”
Kevin Campbell, the well respected Haywood Securities Managing Director sounds off in the Gold Report today, defending both Canada’s junior resource industry and his firm.
Here are a few key paragraphs:
“The Canadian mining marketplace is not in danger of being replaced by any of its competitors. Even in today’s depressed capital market, 70% of the world’s mining finance in 2012 came through Canada. We’re only 2% to 3% of the world’s GDP so it shows the level of confidence our system has been able to foster. The infrastructure—executives, salespeople, fund managers, analysts, regulators, auditors, lawyers, engineering groups, all the things that feed into the ecosystem that creates a dynamic junior mining environment—will not be easily uprooted and transplanted to Hong Kong or someplace else. It’s a healthy environment and I believe that the capital will come to this market rather than the market going to the capital. That’s how it’s been before and I think that’s how it will be in the future. There’s just too much expertise built up in our system for it to be displaced because of a bad cycle.”
Campbell continues, “The premise of Haywood being in any difficulty is both ludicrous and woefully uninformed. It’s a profitable firm with a great balance sheet and a very smart collection of people.”
Read the full interview: JT Long, The Gold Report