The
International Forecaster and Chris Waltzek answer
listener questions.
2nd
Hour:
-Bill
Reid
Gold Resource Corp:
Gold Resource Corporation was founded
by Bill and David Reid.
The focus of GRC is to establish profitable
gold and silver production, and management believes
its experience at building mines from their
previous company, U.S. Gold Corporation, strengthens
Gold Resource Corporation's prospects for success.
The Reids co-founded U.S. Gold Corporation
(USGL), and ran the company since its inception
in 1977 until August of 2005. During the 28
years USGL operated under the Reid's management,
the company built or participated in 6 producing
mines. Below are pictures of the mines of USGL
during management of the Reids.
In July 2005 the Reid's engaged Mr. Rob McEwen,
one of the most successful mining entrepreneurs
of this era, to buy controlling interest in
USGL. Mr. McEwen purchased 33% in USGL and became
the company's largest shareholder. Mr. McEwen
also assumed the management of USGL, which allowed
the Reid's to depart the company and focus their
attention on Gold Resource Corporation.
Bill Reid received a Bachelor of Science degree
in physics in 1970 and a Master's in Economic
Geology in 1972, both from Purdue University.
David Reid received a Bachelor of Science degree
in geology from Ball State University in 1972.
Mr. Perez, a Mexican national, has been a consulting
geologist for the mining industry, and has operated
his own mines in Mexico. He received an undergraduate
degree in geology and engineering in 1974 and
a Master's degree in economic geology in 1979
from the National University of Mexico.
Monty Jennings serves as the Chief Financial
Officer of Gold Resource Corporation and is
responsible for maintaining the company's system
of controls over accounting and financial reporting.
Mr. Jennings began his career with Coopers
& Lybrand (now PriceWaterhouseCoopers) in
Texas where he specialized in the extractive
and energy sectors. He was instrumental in developing
generally accepted accounting principles now
used by royalty trusts. For the past 10 years,
he has served as an executive officer and director
of several public companies, including American
Educational Products, Global Casinos and OnSource.
His area of expertise has expanded to include
mergers, acquisitions and other strategic growth
opportunities.
His past experience in the non-profit sector
includes service as the President of The Family
Extension, a child welfare organization committed
to "at-risk" youth and stints as an
instructor in various accounting matters, including
corporate income taxation and financial reporting.
Monty received his Bachelor of Arts in economics
from Austin College and his Masters in Finance
from Indiana University.
Bill M. Conrad currently serves as a Director
of Gold Resource Corporation. He also serves
as Vice President, Chief Financial Officer and
Director of MCM Capital Management, Inc., a
privately held financial and management consulting
firm. MCM assists other companies in developing
and implementing their business plans and capital
formation strategies.
Mr. Conrad also is Vice President, Chief Financial
Officer and director of Blue Star Energy, Inc.,
a privately held oil and gas company. Mr. Conrad
has held executive management positions with
several public companies during the past 15
years, including Wyoming Oil & Minerals,
Inc.; New Frontier Energy, Inc.; Gold Capital
Corporation; Wall Street Racing Stables, Inc.,
and Consolidated Capital of NA, Inc. Mr. Conrad's
duties with these companies was primarily focused
on the areas of financial management and corporate
development.
-
Axel Merk
Merk Fund-
The Merk Hard Currency Fund is
managed by Merk Investments, an investment advisory
firm that invests with discipline and long-term
focus while adapting to changing environments.
Axel Merk, president of Merk Investments, makes
all investment decisions for the Merk Hard Currency
Fund. Mr. Merk founded Merk Investments AG in
Switzerland in 1994; in 2001, he relocated the
business to the US where all investment advisory
activities are conducted by Merk Investments LLC,
a SEC-registered investment adviser.
Mr. Merk holds a BA in Economics
(magna cum laude) and MSc in Computer Science
from Brown University, Rhode Island. Mr. Merk
has extensive experience and expertise in how
the global financial imbalances, as evidenced
by an enormous trade deficit, affect the markets.
He has published many articles describing complex
economic phenomena in understandable terms and
he is a sought after expert presenter and moderator
at conferences. Mr. Merk is a regular guest on
CNBC, and frequently quoted in Barron's, the Wall
Street Journal, Financial Times, and other financial
publications.
In addition to 20 years of practical
investment experience, Mr. Merk has a strong foundation
in both economic analysis and computer modeling.
His research in the early 1990s focused on the
use of computer-aided models in financial decision
making; he is a published author in “Adaptive
Intelligent Systems” * and has been awarded
a prize for excellence in economics. **
Mr. Merk focused on fundamental
analysis of US technology firms in the early to
mid 1990s, he diversified to other industries
to manage volatility in his investments. In the
second half of the 1990s, Mr. Merk received an
early warning of the building bubble when he recognized
that more and more companies were trading in tandem,
causing the diversification offered through investing
in other industries to diminish. As a result,
he broadened his investments internationally.
As the bubble burst and Greenspan and the Administration
preserved US consumer spending through record
low interest rates and tax cuts, imbalances in
the global financial markets reached levels that
Mr. Merk deemed unsustainable. Merk Investments
has since pursued a macro-economic approach to
investing, with substantial gold and hard currency
exposure.
Merk Investments is making the
Merk Hard Currency Fund available to retail investors
to allow them to diversify their portfolios and,
through the fund, invest in a basket of hard currencies
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