Lassonde also acted as chairman of the world gold council. Pierre lassonde is here with me for the half hour today. The canadian native has since become a millionaire, one of the most famous gold investors in the world, and one of the biggest donors to the u and the david eccles school of business. Industry veteran buys at new gold the globe and mail. Pierre lassonde mining foundation of the southwest. The savvy canadian is the cofounder and chairman of toronto based franconevada fnv 159.
Pierre authored the wellrecognized investors guide, the gold book, in 1990. Now, they have a lifetime royalty for this gold mine. In 2008, lassonde together with a group of former associates and investors. The first biggest change is the development of gold exchangetraded funds etfs. Pierre lassonde, cm, oq, born in sainthyacinthe, quebec in 1947, is a canadian.
They began in 2004 and went from zero all the way up to over 2,650 tons of gold. For more than a decade, each 1% growth in gdp resulted in 1. Pierre lassonde is one of the doyens of the gold mining sector and an eternal optimist on the future of the gold price. Pierre lassonde is one of the doyens of the gold mining sector and an. Over the next 20 years franco provided shareholders with a 36% annualized rate of return. Mining cycles are good for royalty companies and investors 52114 pierre lassonde revolutionized investing with the creation of the first gold royalty company. Apr 14, 2020 pierre lassonde cofounded franconevada mining corporation in 1982.
Today, he is still in the royalty business as chairman of franco nevada corporation. Pierre lassonde was elected president of newmont mining corporation. A division of the david eccles school of business, the lassonde entrepreneur institute offers a wide variety of programs and engagement opportunities for students to learn about. He served as chairman of the world gold council from 2005 to 2009. The book is packed with lively characters, from herbert hoover to henry. Represents 189 gold deposits discovered since 1990, each with at least 2m oz of gold in total reserves, resources and past production or at least 1m oz in reserves. In his outstanding publication, the gold book, author pierre lassonde tells the fascinating history of bullion through the ages. In addition, lassonde authored in 1990 the gold book. He is past chair of the world gold council, author of the gold book and has served on many mining boards and industry committees and. Pierre lassonde cofounded franconevada mining corporation in 1982. Looking ahead 30 years, pierre believes the yellow metal could average. He and partner seymour schulich started out by focusing on mine exploration, but. With over 25 years of experience in the mining and investment business, pierre is one of canadas leading gold analysts and is the author of the gold book, the complete investment guide to precious metals.
The first half, demystifying the gold price, is authored by john katz. Much of that gold ended up as collateral in backtoback loans, commodity loans. Pierre lassonde and his partners have collectively founded a company franco nevada and they have also discovered one of north americas biggest gold deposits known as the goldstrike mine. Pierre lassonde has come a long way since attending the university of utah in 1971 to pursue an mba degree while his late wife claudette mackaylassonde studied nuclear engineering. Pierre lassonde, if youre unaware, was the founder of franconevada fnv, which was a mostly failed mining explorer in the early 1980s but made a pivotal acquisition of a royalty on a mine in nevada in 1986, with lassonde pretty immediately recognizing the appeal of that approach and beginning a campaign to buy more royalties and get out of the actual mining business over the ensuing several years.
North space, famille joan and louis paquet decorative arts and design, snclavalin souths space, marcelle and jean coutu foundation. Pierre lassonde is the founding donor of the school that bears his name. Frank holmes is the ceo and chief investment officer for us global investors, a san antonio, texas based family of mutual funds. In 1990, penguin books published lassondes the gold book, which has become a standard reference for gold investors and includes a chapter on gold scams that exposes the bag of tricks used by charlatans and con artists. Schulich, meanwhile, made a generous donation to the business faculty of york university, where he was a student in the 1960s.
Lassonde is also a highly active and engaged philanthropist in canada and the u. The pierre lassonde pavilion was made possible by funding from the government of quebec 45. Metals economics group strategies for gold reserves replacement 2012. While a much higher gold price is needed to bring bullish sentiment back into the mining space, the yellow metal is already fairly priced, said pierre lassonde, chairman of franconevada corp. By going over all of the papers presented at the society of petroleum geologists, he has shown that the saudi oil fields are about to pass their peak. This week, we take a look at buying in new gold inc. The two women have only known each other a few years but struck up a friendship since sitting on the board of directors together at gold explorers takara resources inc. Oh, for a journalist who would put a few serious questions to franconevada chairman pierre lassonde, former chairman of the world gold council, when he says, as he told daniela cambone of kitco news this week, that gold is wellpriced and where it should be. Lassonde likes the gold price with central banks rigging. Lassonde is well known in the international mining community and north american capital markets, he is currently chairman of franconevada nyse. To be recognized experts in developing, mining and processing specialty mineral projects. We dont know how to replace the great big gold deposits. Photo by paul taggartbloomberg photo by paul taggart. In 1982, he cofounded, franconevada corporation, the first publicly traded gold royalty.
Pierre lassonde is the chairman of the franconevada corp. Lassonde served as chairman of the world gold council from 2005 to 2009. The lure of gold transcends time, empires, monetary theories and fashion. Franco was founded in 1982 by lassonde and his partner, seymour schulich, and the threeway merger they helped craft was a direct response to the hedging posture of. Gold is the quintessential inflation hedge and insurance policy against political and economic turmoil. It also develops, produces, and markets specialized food products including fondue broths and sauces, soups, sauces, packaged corn on the cob, bruschetta toppings, tapenades, pestos, and pizza and pasta sauces. The gold book is a comprehensive guide for every investor, whether your buying a few coins. A mine is a hole in the ground with a fool at the bottom and a crook at the top. Dec 31, 2008 in 1990, penguin books published lassondes the gold book, which has become a standard reference for gold investors and includes a chapter on gold scams that exposes the bag of tricks used by charlatans and con artists. Pierre lassonde has made wideranging contributions as a successful businessperson, philanthropist, community leader, and supporter of mining education and research. He established the lassonde institute for engineering and geoscience at the univ.
Three decades later, he is as confident in this model as ever, especially considering the difficulties of the majors in discovering large, highgrade reserves. Pierre lassonde current chairman of franco nevada he was president of newmont mining corporation from 2002 to 2006 and prior to that from 1982 to 2002 was a cofounder and coceo of the original franconevada. The gold book by pierre lassonde fortune minerals annual report 2011. I think gold is in a good place, pierre lassonde, cofounder of franconevada, said last week at the denver gold forum. The complete investment guide to precious metals financial times personal finance library pierre lassonde on. The company was acquired by newmont mining corp in february 2002 and pierre became president and vice chairman in 2007. Last year, however, the growth was more like 2% or 2. But, starved for investment capital, the industry has neglected the business of replacing the ounces it pulls from mines each year. About pierre lassonde lassonde entrepreneur institute. Pierre lassonde increases ownership in calibre mining. Gold is where it should be pierre lassonde youtube. Lassonde is an active and engaged philanthropist in both canada and the united states in the fields of education, the arts and the community in which he lives.
The second half, gold investing strategies, is authored by frank holmes. Founding donor pierre lassonde is the founding donor of the school that bears his name. Few people have achieved more success in the mining business than pierre lassonde. Pierre lassonde, veteran gold analyst, cofounder and chairman of franco nevada mining corp. The complete investment guide to precious metals, published in 1990. Pierre lassonde, chairman of franconevada, talks to bnn about challenges in the gold mining industry with deal flow and financing, the signs that are making him bullish on gold right now, and how conditions for gold are different now versus five years ago. University of utah announces gift for transformative. Pierre lassonde became president of denverbased gold giant newmont mining corp. About pierre lassonde lassonde entrepreneur institute university.
Lassonde is arguably the greatest company builder in the history of the mining sector. The state of the gold bull market 2012 presentation pierre lassonde. Lassonde likes the gold price with central banks rigging the. In 2008, pierre led an investors group bringing back franconevada to the public market. Pierre lassonde increases ownership in calibre mining inn.
The northern miners 1997 mining man of the year pierre. Pierre lassonde named new chair of the board of canada council. That was just the beginning for pierre lassonde, who went on to become very rich and the president of newmont mining which for a time was the worlds biggest gold miner until barrick bought placer dome. Oct 31, 2016 the gold book is a comprehensive guide for every investor, whether your buying a few coins or plunging into the world of gold mining stocks. The coming saudi oil shock and the world economy is a seminal work on oil and energy prices, certainly for the next ten years. Jun 15, 2018 while a much higher gold price is needed to bring bullish sentiment back into the mining space, the yellow metal is already fairly priced, said pierre lassonde, chairman of franconevada corp. For investors this strategy has paid off golden returns. In may we laid out the case that a new cyclical bull market in gold had begun winwin case for a bull market in gold part 1 as an investment advisor or individual, you may be looking for a lower risk way to invest in gold. The lassonde difference pierre lassonde has come a long way since. Pierre lassonde is recognized as one of north americas foremost. In 1982, he cofounded, along with his business partner seymour schulich. Pierre lassonde is president of newmont mining, the worlds largest gold producer, a role he assumed in 2002 following the merger of newmont, normandy mining, and franconevada. The gold book paperback january 1, 1994 by pierre lassonde author see all formats and editions hide other formats and editions. Jun 27, 2014 this week, we take a look at buying in new gold inc.
Mining legend pierre lassonde says we are in the second. The gold book is a comprehensive guide for every investor, whether your buying a few coins or plunging into the world of gold mining stocks. Each year, the gold mining industry pulls close to 110 million ounces from the ground. Gold prices are heading higher, much higher and he is very sure that. The early egyptians used gold for decoration, usually for the pharaohs. Lassonde states that the oldest known gold objects are some 7,000 years old dating back to 5000 bc. The complete investment guide to precious metals in 1990. May 28, 2016 pierre lassonde current chairman of franco nevada he was president of newmont mining corporation from 2002 to 2006 and prior to that from 1982 to 2002 was a cofounder and coceo of the original franconevada. Gold demand in china has been related to the growth in gross domestic product gdp. What have been the biggest changes in gold investment since then.
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