Marin Katusa, a key fund manager in Vancouver for resource stocks, is betting big on a new precious metal stock launched by Keith Neumeyer. Mr. Neumeyer, who is currently the President and CEO of First Majestic Silver, one of the world’s top primary silver producers, has recently gone on an acquisition spree with his newly-formed company, First Mining Finance (TSXV: FF & US: FFMGF).
With gold and silver prices down since 2011 and mining share valuations at the lowest they’ve seen in decades, both Katusa and Neumeyer are trying to position themselves to profit from a “blood in the streets” type moment in the mining sector.
Marin Katusa manages the KCR Fund, which is also where legendary investors Rick Rule, of Sprott Global Resource Investments, and Doug Casey, of Casey Research, have money invested. Some of the best trades in the entire sector have been called by these three men. Mr. Casey, who has made hundreds of millions of dollars in the sector, has said that Marin Katusa is the most disciplined stock picker in the world. And now Mr. Katusa has made First Mining Finance one of only 9 stocks that he currently owns, something he made public at a high net-worth investor conference in New Orleans just weeks ago.
As for Keith Neumeyer, he founded his first company, First Quantum Minerals, in the 1990s during a brutal bear market, a company that today is a multi-billion-dollar copper producer. His second company, founded in 2002, First Majestic Silver, achieved the billion-dollar market cap level in 2011, and he has publicly stated that he intends on making First Mining Finance his 3rd billion-dollar company.
With nearly 40 insider buys since April, Mr. Neumeyer, who is the Chairman of First Mining Finance, seems to be very bullish on his new stock.
The company started with 18 projects early on, and has since gone on to make 3 strategic gold acquisitions in the past 6 months.
According to a study done from 1992 to 2012, the average gold mining company paid $47 per ounce in the ground when buying an established gold project with a resource report. This is important to note because when looking at First Mining Finance’s 3 recent acquisitions, they have paid between $5 and $10 per ounce.
This may be the exact type of market extreme that has Marin Katusa and Keith Neumeyer deploying new capital into the sector.
To read more about this new gold stock headed up by a mining legend, click here.
You can also read more about the company by going directly to their website, http://www.FirstMiningFinance.com.
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