The large-cap miners have dissuaded investors from entering the mining sector space with their lackluster performance and shrinking production profiles, said Rob McEwen, chairman of McEwen Mining. “The majors haven’t done any favors to the sector. They’ve gone out and they’ve sold off production so their growth curves have a negative slope to them. They got rid of their exploration and they’re shrinking. They’ve got bad results,” McEwen told Kitco News on the sidelines of the Silver & Gold Summit in San Francisco. McEwen added that junior miners and mid-tiers are currently in a bull market that has three to five years to go. “In that time, there’s a chance of seeing gold equities go up three to four times where they are today,” he said.
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