Lassonde

Lassonde / BNN

"To say someone is a legend is flirting with cliché but in this case the cliché is true. My guest today is a legend. The father of the gold royalty model, and an art collector, and a philanthropist  and a fan of very fast cars. He is Pierre Lassonde, in 1982 he teamed up with fellow gold bug Seymour Schulich to create a cash generating royalty company based on the model used by the oil and gas industry, but in stead they focused on gold and a few years later, they paid two million dollars for the royalties in a little mine in Nevada and low and behold they wound up with one of the world's richest deposits, Barrick's Goldstrike mine which is still in operation today. 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 world's biggest gold miner until Barrick bought Placer Dome. Today, he is still in the royalty business as chairman of Franco Nevada Corporation. Pierre Lassonde is here with me for the half hour today."

Gold miners blinded by lust for growth: Lassonde | BNN