Selling NexGen, Current Holdings and Learning from Mining Scams with Fund Manager Warren Irwin
Seasoned resource fund manager Warren Irwin returns to MSE to talk mining scams: “There really is no penalties for scamming people in Canada in the mining sector. I cannot think of a single person that has done any jailtime. They may get fines or slap on the wrist or not being allowed to be a director or whatever. If you are into organized crime, get into the mining business because there is no penalties and there is lots of money to be made.”
Warren also discusses his current mining stock holdings and explains why he sold NexGen Energy: “I know way more than I could every say.”
0:00 Intro
0:43 Reflecting on the Bre-X scam
9:21 Realizing Bre-X was a scam
12:38 Tenacious due diligence
18:25 “When are you going to twin the holes?”
20:31 Michael de Guzman alive?!
26:50 People complicit with the fraud
33:34 “There is no penalties for scamming people in Canada”
37:03 Warren’s Solaris Resources’ commentary
40:00 Selling NexGen: “I know way more than I could ever say”
42:45 Addressing Uranium super-bulls
47:24 Are you shorting NexGen?
48:48 Current mining stock holdings
Warren’s fund: https://www.rosseau.com/
Warren’s Twitter: https://twitter.com/bigdude6669
To learn about Warren’s first-hand experience with the Bre-X mining scam of the 90’s listen to our in-depth interview from PDAC 2018: http://www.miningstockeducation.com/2018/04/warren-irwin-discerning-mining-stock-scams-from-bre-x-until-today-top-hedge-fund-manager-shares-insights-pdac-2018/
Warren’s Bre-X article: https://ceo.ca/@warrenirwin/2016s-top-hedge-fund-manager-relives-historys-greatest-gold-scam
BBC Bre-X podcast: https://www.cbc.ca/listen/cbc-podcasts/1428-the-six-billion-dollar-gold-scam/episode/16069066-episode-1-the-dollar6-billion-gold-scam
