Randy Smallwood, the CEO of precious metals streaming company Wheaton, told CNBC's Jim Cramer on Thursday that gold and silver have perpetual power on the market due to their very nature as one of the world's oldest currencies.
"I mean that's what gold has been forever, a store of value, a measure of value that lasts," Smallwood said.
But Smallwood said the company expects to see 50% growth by 2027, or close to a million gold equivalent ounces.
As a streaming company, Wheaton funds mining operations in order to then buy metals at a discount.
Although Smallwood is the chair of the World Gold Council, his favorite metal is silver, which is harder to find than its flashy counterpart because there are fewer silver mines in the world, he said.
Persons:
Randy Smallwood, CNBC's Jim Cramer, Smallwood, Wheaton, there's
Organizations:
Wheaton, World Gold Council
Locations:
Wheaton