Seymour, Schulich

Seymour Schulich[Photo: Mining Hall of Fame]

Original Franco-Nevada founder and billionaire Canadian financier Seymour Schulich revealed a new 11 million share long position in embattled miner Barrick Gold yesterday, worth roughly $211,200,000 at today’s prices. Mr. Schulich also said he considers a Barrick Newmont merger “constructive,” noting that it would create a “very large” Canadian company. Mr. Schulich is bullish on gold and inflation as a result of the world’s money printing, which he estimates at 15% per year. According to the National Post article, Mr. Schulich chose Barrick stock to play the gold theme for its liquidity, and because he thinks his friend Ned Goodman has joined Barrick’s board to do something big with the company.

Read: Seymour Schulich, new owner of 11 million Barrick Gold shares, ‘constructive’ on possible merger with Newmont

Related books: Get Smarter: Life and Business Lessons [Schulich, DeCloet]