It’s the speed of the industry that John Skinner notices most when remarking on changes in mining and finance.
On Friday Skinner was a guest on Kitco Roundtable podcast with correspondent Paul Harris and mining audiences manager, Michael McCrae.
Skinner has been in and out of the resource sector since starting his career in the mid ‘80s at Yorkton Securities.
“The thing I’ve noticed since I was in the industry is just how different and how much faster everything happens because of social media. You used to have to wait for a newspaper to come out. The rumor mill happens and it’s instant. It’s faster. It’s more ferocious and due diligence is that much faster,” said Skinner.
“I’m really excited for guys in the industry.”
Success in the industry led him to pursue another passion: wine. In early 2004 he purchased land in Osoyoos and started Painted Rock Winery. He recently returned to the industry with the general lift in resources. Skinnner is independent director at Meridian Mining, which is focused on projects in Brazil.
Skinner also noticed how the slow years in the resource sector between ’08 and ’15 led to a talent gap.
“There’s a certain age group in the 2008 to 2015 window. [People] weren’t coming into the industry,” said Skinner. “But now…it’s attracting people. It’s attractive again, and it feels like the market is on.”
Kicto Roundtable also reprised its video with Danielle DiMartino Booth.
The U.S. 10-year Treasury yield briefly surged above 1.6% on Thursday.
Until the Federal Reserve declares an intervention to bring down the long-end of the curve, equities markets could see continued “nervousness” said Danielle DiMartino Booth, CEO of Quill Intelligence.