PIERRE LASSONDE revolutionized precious metals equity investment with the creation of the first gold royalty company.

Three decades later, and now as chairman of Franco Nevada (NYSE:FNV) Lassonde is as confident in this model as ever, especially considering the difficulties of the majors in discovering large, high-grade reserves. In this interview with The Gold Report, this director and former chairman of the World Gold Council discusses the significance of the shift in gold ownership from West to East, the problem of mining scale and the results of the industry's failure to develop new prospecting technology.