In this discussion, David Garofalo explains how the excellent fundamentals and deleveraging that has occurred among gold producers is exposing a severe need for resource replacement. Citing significant cost inflation going forward and relatively selective access to equity markets for gold juniors, David outlines the opportunities being created in the royalties space for advanced stage exploration.
We touch on the M&A prospects to come from the developer mid-tier space. And David expresses optimism for decarbonisation efforts across the industry while warning over current water consumption trends as the biggest impediment to new mine development.
Guest:
David Garofalo, CEO, Gold Royalty Corp and CEO, Marshall Precious Metals Fund