On June 20th, I spoke to Damien Würsten, a former physical commodity trader, about his adventures in purchasing a small-scale mine in Africa, how he started in the commodity business, and why he doesn’t like junior mining stocks.
Damien told me that he likes nickel and cobalt the most right now. However, he’s still looking for decent exposure to those metals as he dislikes most companies that mine those metals.
Antonio Atanasov is not an investment advisor. Antonio Atanasov owns shares of companies mentioned in this publication. The information provided in this publication – and all other publications by Resource Talks – is impersonal in nature and meant for general information purposes only. Before taking any action on any investment, it is imperative that you consult with multiple licensed, experienced, and qualified investment advisors. Get numerous opinions before taking your own decision in the end. The minimum risk on any investment mentioned in this publication is 100% loss of capital.
Shortly: you will lose all of your money and possibly most of your brain cells if you listen to talking heads on the internet. Especially if they have orange hair and no experience (me).
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00:00 Important warning
00:20 Who is this?
04:00 He bought an actual mine
05:30 How much does a mine cost?
06:50 What’s the risk of owning a mine in Africa?
11:45 Can everybody just buy a mine?
13:00 You buy a mine, and then what?
15:30 Damien’s first commodity trading company
18:30 Commodities are volatile. That’s it.
20:20 Holding commodity ETFs
23:00 How Damien is going to invest in nickel?
25:30 Why Damien doesn’t like juniors
30:45 Why commodities are a tough business
37:50 The other commodities Damien likes
41:30 Iron ore
42:50 China and the commodity issue
45:50 Growth in Africa
53:00 His exiting strategy
01:02:00 Where to hear more from Damien
Was there something wrong with what the guests said? Did I fail to ask an important question? Did I make a mistake in my reporting? Please tell me about it. Criticism and skepticism are highly welcome and help me learn. Thank you.