Miners Need to Go Back to Basics If They Want to Beat Gold - CEO

With the miners still lagging behind gold, which posted five consecutive daily gains before cooling off, one mining CEO says it's time for the industry to get back to basics.
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KITCO NEWS - With the miners still lagging behind gold, which posted five consecutive daily gains before cooling off, one mining CEO says it's time for the industry to get back to basics.

"Gold can't dilute itself, so I think people are buying into the metal because it has outperformed 90% of the senior gold miners over the past decade," Ian Ball, CEO of Abitibi Royalties, told Kitco News in studio Thursday. Aiming to be known as a disrupter in the industry -- or the "Uber" CEO of mining -- Ball said it's time for innovative thinking in the industry, especially if the miners want to outperform the gold price.

The metal has gotten a safe-haven boost in recent trading, hitting two-week highs. However, prices have slightly dipped Thursday with June Comex gold last trading down 0.21% at $1,256 an ounce.

This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.