Your ETF investment is hurting junior miners – Kai Hoffmann

Gold mining ETFs are quite harmful to the industry, said Kai Hoffman, CEO of Oreninc.

“You can invest in it, you can easily follow the gold price, you can make your 30% a year and I’m sure you’ll be happy, but it doesn’t help the underlying industry of the junior explorers because those ETFs do not invest in private placements,” Hoffman told Kitco News on the sidelines of the Vancouver Resource Investment Conference.