There will be less M&A in 2022 and 2023, said Claude Bejet, a writer for the Swiss Gold Letter.

Kitco Mining correspondent Paul Harris spoke to Bejet at Mines and Money London held from November 29 to December 1.

Bejet is also a private investor specializing in mining stocks and emerging markets. He is bullish on gold, especially after the big drop in 2022. Gold is also helped by cryptocurrencies, which are no longer crowding out precious metals as an investment alternative.

“We’ve been through hell. We’ve had a two-year bear market of huge proportions. What’s most important is sentiment,” said Bejet, who added that gold is “…climbing the wall of worry.”

Asked about M&A, Bejet expects activity to be muted while gold runs, which he expects to occur over the next two years.

“The M&A market really booms at the end of a cycle,” said Bejet.

Source: Kitco News