YouSaid · the spoken record

Marin Katusa

lines on the record: 69
first: 2021-06-13
most recent: 2021-06-13
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“The global emissions of greenhouse gases reduced less than 5% for 2020. And that was kind of something that I was thinking about and researching because what a lot of people in your audience may not know, I was one of the largest financiers of green energy in 2014-50. So for example, the United States' largest ever geothermal project built in the last 15 years. I was the largest shareholder of that finance. Canada's largest pure green energy company was run by a very close dear friend of mine named Ross Speedy. I was the second larger shareholder, but my style is coming in at the boom bust and echo. It's this strategy that I really talk about in my new book that's been kind of the key framework for my investments. And I get in when people are kind of done with it and they think something doesn't work. My wife, who's got an MBA and she's a geologist, brilliant mind, was telling me about when she was doing her MBA.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Going to be bigger than that. I'm being pretty conservative with the numbers. So when I kind of sat down in March of last year, we had an incredible run in our fund and in our newsletter. Like incredible. Top 1% of the funds in the world. And sadly what happened was I realized that I was working crazy hours. The stress was big. I gained about 25 pounds that month. I went, whoa, this is kind of bad for me. And I'm locked up in Vancouver. I'm a guy that usually lives on the road doing what I do. And it was new to me. And being home, which I'm never home, you know, that fridge became every hour visit. And I started kind of just thinking about things. And I wondered, geez, you know, with everything shut down, how's this going to play out with the environment? So the conception at the time was, wow, we're going to have a big reduction in carbon emissions. But what actually happened was even though the world essentially shut down for most of 20.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Kazakh or former Soviet Union uranium, but it's reaching that head point where now the DOE is going to have to build up their stockpiles. You're seeing the utilities are going to have to step in. The mining companies are actually buying these things. So things like uranium participation corporate, they're going out to raise money to buy more supply. Yellow cake listed on the US, which is owned, I think, about 6-7% by uranium royalty corporate. They're going and buying the yellow cake. And the NASDAQ, the only NASDAQ listed company that has uranium exposures called ticker symbols, Euroy. Uranium Royalty Corps. They've gone out and bought this uranium and they're going to store it at Commerd. So all of these things, it's not just the nuclear reactors. A lot of the supply that has been sitting there because of Fukushima and the low cost of capital, just the market, the dynamics at the time, they're kind of cleaning itself up. So yes, I think.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“And casatopron. And that's been a big issue with what's going on with Australia. Remember, Australia is a Commonwealth nation, just like Canada is former the UK. And China always believed that they would get all their nuclear energy from Australia. And they did sign contracts, but all those are at risk. So that's a bullish catalyst point for China. Russia plays key into that because Russia has the centrifuges to actually create the uranium that the mines need. America today does not have the infrastructure set to down blend their nuclear warheads to meet the needs that they have for the DOJ with all their military needs or their energy. And at the same time, the market, because of Fukushima and the low cost of borrowing of Japanese money, they haven't needed to really focus on a strategic standpoint because it's cheaper just to buy.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Markets like China, Saudi Arabia, and what's going on in the Middle East. That's full steam ahead. And trust me, in the Chinese administration, they're not focused on what the protesters or any of the NIMBY, not in my backyard crowd, are saying. It's full throttle moving ahead. And that's where the big growth.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Masses that are just waiting for the price at a discount to nav, meaning it's cheaper to go buy these things that are built and permitted than to go actually build it. So why would I go and build it? And that was my whole thesis on our play. So let's just say in the next five to ten years Biden's administration, they're not there yet, but there are rumblings that it's going that direction. And the reactor being built in Washington State right now is going to happen. And it's going to be kind of the case study for North America and Europe. There's another one going to be decided in Ontario. That's the largest province in Canada. I believe it'll be X Energy, also the same group, building the one in Washington State, run by Clay Sell. So it's going to be slow and steady, but the gross not going to be in America. Even though America consumes 25% of the global uranium today, the growth is the emergency.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Don't produce any zero economics at $30 and change conventional uranium. That's digging up rock, crushing it, extracting the yellow cake out of it. Realistically, you need about $55, $60 to make somewhat of a return for investors. Wiser uranium is the cheapest form of production. You need about $40, and that's in the US. If you're permitted and built. And what I'm trying to explain to everyone, like I've said on your show two years ago and last year, I built mines. It is incredibly hard to build a mine and financially. These are expensive. Building a uranium mine is like being a troll, going to the high school prom, expecting to get the prom queen. Like the odds of that happening are so hard. And with the nimby crowd of a uranium, but you can go and buy permitted built uranium.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Bill Gates' company is kind of getting a lot of the attention because it's Bill Gates and came out with his book How to Prevent a Climate Crisis and actually a pretty good book. What he said about nuclear is correct. But there's one company ahead of him in America right now. They're actually building the reactor and the DOV put it ahead, put billion into it, and it's called X Energy. And they're building one in Washington State right now. The CEO of that is a guy named Clay Sell. I sat down with him. We had over an hour, two hours. We went through the numbers. And think of it as smaller. So it's quicker to build up front, but these things can add on. Think of it as modular reactors, kind of like a Lego piece. Instead of building a four big reactors all at once and putting up that cost up front, you can add on as a modular reactor. So right now you look at the uranium world and it's just not economic.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Like the gold business, it's a business, and you have to look at the right market if you're sitting on a 300% gain. Sell some. Hate your initial capital plus enough to cover your cat taxes plus a little profit. And if you do believe in it, let the rest ride without any pressure because it is a very volatile market. And that's what I've been preaching to my subscribers. But you don't need to go in the middle of nowhere where you need security to take you to the project where the locals don't want you because there's some pounds in the ground found from some oil company 45 years ago. But this management team is going to do it. There's easier ways to make money in the uranium market. Stick to wiser, warm ISR, and the Athabasca Basin, and you're going to make a fortune.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Tree that's been buying it and moving the market. What's happened here is quite interesting. It's been the equity company, the actual holding companies like Yellow Cake, Uranium Royalty Corp, even explorers that don't even produce uranium that have raised money from the markets and gone into the market to buy the uranium. And it's such a small market, a fragile market that the pinch will come, plus the sentiment in the market is changing because, in my opinion, as I wrote in 2014, you can't have a net neutral world without new clear. Now, like anything, there's been a big learning curve and the old reactor designs did have mistakes and there were issues. The new designs are economic and they don't take that big 10, 15 billion dollar capex hit up front that the utilities can't afford. So it's a gradual”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“North American technology and money to build these things. And then they started production. And then what I've tried to explain to everyone in these negative swap lines has had a problem's done the same thing. When you look at some of these assets that some of the Japanese or Kamako used to own a majority and it's reverted now Kazataprom owns a majority. What is some foreign company or some Canadian company or some American company or some French company going to do in Kazataprom? Like let's really think about that. You know that they have all the advantage on all their tools and it's just a matter of time. So at the FX advantage, $30 uranium before Fukushima, that's like $75 uranium for the Kazakhs. So they produce about 42% of the world's primary uranium. Then you look at where to go. And even though the spot price is still half of pre-Fukushima, it's actually been not the utility.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Nothing really happened. In addition, I'm one of the few guys that have been to all the major producing uranium mines on the planet, not just in Canada and the Athabasca Basin or the US, but in the FSU, former Soviet Union. And what people really forget is the importance of Kazataprom. Kazakhstan is the, you know, think of all the OPEC nations and Russia combined in the uranium market. And I remember in 2015, I was asked to come give the keynote at the World Nuclear Fuel Summit. That's where all the utilities buy the uranium from the producers. And they brought me up there. And I basically just talked about the elephant in the room, which was has had a problem. And people forget to understand the FX advantage that the Russians and Azhaks have. And when I look back into these assets, these were all developed, distrilled out, the former USSR. Then they came in and brought”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Urania market since my first book came out in 2014. I've been the largest finance of uranium. And the market created this kind of, there's a big anti-catousa push on this because I'm basically saying, why do I need to go somewhere in Africa or South Africa?”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Cost, which means the costs will rise, and we're in a crossflation environment where you're seeing certain assets really inflate other assets, deflate. So there's this crossflation going on. But for years, I fought the whole peak oil crowd. And I said, guys, never bet against human ingenuity and entrepreneurship. You know, and this is before fracking took over. Guys were making fortunes off this peak oil concept or the peak gold or peak copper. No, there's peak government take at the point where they take it all. But other than that, there's no shortage of any of these commodities. It's just the time lag and the cost, to put it into production.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“And at a $1400 gold, I want to see three year paybacks. There's traditional value metrics used in the mining world, but I haven't seen a single research report in the world valuing new hidden costs that are going to come across a board. And not just from increasing taxes and government take that you're going to see in non-swap, negative swap line nations, you're hearing the rumblings in Peru. There's going to be more government hate. Chile is rattling the cages in the copper world. Well, 28% of the world's copper comes from Chile. South America is very key to a lot of these metals. And the market is kind of priming it up. And there's no shortage. I was involved in financing from day one on Canada's third largest copper producer. It's the third largest mining in Canada. I know the copper market's really well. There's absolutely no shortage of copper at four and a half dollars. There is a timeline to get it online with permitting.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“To battling for that throne. But I think there's easier places to make money that are cheaper because if you're the big ETF that want that 5% exposure to gold, Barrack and Newmont are the easy way to play it. Franco, Nevada, the world's largest precious metal, royalty and streaming company and silver wheat and the now called wheat and precious. Those are the easy ways to play. So they carry a higher premium than the not so known multi-billion dollar market cap companies that are on their way to produce a million ounces. That's the sweet spot where the value investor should be looking at just before the big money comes in and starts overvaluing the deals. So I look at it as a slow and steady strategy. $2,000 gold would be great. I do believe we'll see it. But I use for my valuations tray, I published this for years. I use $1,400 gold for my metro.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, so look, Barrick is run by Mark Bristow. He's kind of a big personality in the business. And when that happened, I said, guys, Warren Buffett's just a businessman. He's buying value and he's going to sell it when he catches that value. The gold investors use that as here it is. You know, we finally got Warren Buffett. And Warren Buffett does what Warren Buffett does, which is make money. And that's what I got to remind everyone again in the gold world. And I get so much hate, Trey, from this. People are like, you don't believe in the conspiracy theories and, you know, that Goldman Sachs and the Fed are suppressing gold. Guys, it's just a business, just like anything else. And it's about margins and it's about free cash flow and it's about dividends. So do I own Barrack? No, I think there's better places to be. Do I think it's a great company? Yes, but that's not what I do. Like they're the biggest gold market cap. Them in Newmont, number one.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“86 mines with over, for example, with over 2 million ounces. It's everywhere, and it's a big business, same as silver. Silver's not as much of a currency metal like gold is because over half is used for the industrial uses, so it's got one foot in the industrial sector and one foot in the precious metal. So you would expect silver to be doing better than it is. But from a gold perspective, it's fantastic where it is from a free cash flow standpoint. If you're invested in the right producers.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT
“As my subscribers know, when you have such a lockdown and so much pent up demand, you look at what's going on with copper, with lumber, so many sectors are hitting it, and people are going, well, what about gold and silver? I remind everyone that $1,800 gold is a phenomenal price for me and the companies that I'm heavily invested in. And I get it. People want the two handle because the four handle and CPI came and 2000s better than 1,800. I agree. But when you're all in sustaining cost is $8,000, $900 and you have 100% margins, that's a pretty good business to be in. So yes, the investors want Bitcoin-like returns and they want that action. But mining is the, you know, remember, gold is the oldest currency in the world, so it moves a lot slower. And it's a much more global. There's 100.”
2021-06-13 · We Study Billionaires · TIP353: The Best Performing Asset Is Not Bitcoin w/ Marin Katusa · IDENTIFIED FROM THE TRANSCRIPT