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Gold Has “Room To Move” – Osisko CEO

Gold Has “Room To Move” – Osisko CEO

Even if gold is unable to make new multi-year highs, the market is still in a good space and the mining sector has room to grow, said Sean Roosen, CEO of Osisko Gold Royalties. “I think the gold market at ,330-,350 is a pretty good price to set the stage for new projects to come online,” Roosen told Kitco News on the sidelines of the Gold Stock Analyst Investor Day Conference. While gold has struggle to make gains against the U.S. dollar, Roosen noted that his company’s portfolio is weighted heavily in Canadian dollar terms, which is holding up well. With gold trading at ,690 an ounce against the Canadian dollar, the market is only 10% off its all-time highs at C,886 an ounce.Roosen said that he doesn’t make investment decisions based on future price forecasts for gold, but rather, makes the assumption that they will be operating in a ,150- ,350 an ounce environment.
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