PDAC Convention; What I Learned Meeting with Mining Companies
This week, I attended the Prospectors & Developers Association of Canada (PDAC) International Convention. Its where the “who’s who” of the mining industry come to meet and talk about the industry.It’s the place to be if you want to know what’s happening in the mining sector, to say the least.
I have been going to the PDAC convention for several years now. If I recall correctly, this year was my sixth year attending.
Why do I go to the PDAC convention? Mind you, it isn’t the only mining conference I attend; I go to several others on yearly basis. I do this to see what’s happening in the mining sector. What’s more, you get to speak with mining companies directly and listen to what they have to say.
I would call the PDAC convention the mother of all mining conferences. Usually about 1,000+ junior and senior mining companies are there, plus about 25,000 attendees. You get the perspective of mining companies, investors, and analysts. You also get to see if there any new technologies that could make mining better and easier.
Over the past few years that I have been attending this conference, the atmosphere was dismal. You would see mining companies there, but not much excitement among them. You could clearly see that the whole sector was struggling. How so? I paid attention to the money miners spent for marketing material–the so-called “swag.”
Keep in mind, a lot of investors come to this conference as well, so mining companies give out free stuff to lure investors to their booths. However, there wasn’t much of that recently. Put simply, it was very evident that companies were watching their expenses very closely over the past few years.
How Was the PDAC Covention This Year?
This year, there was certainly something different.
In the investors exchange area (where mining companies had booths), it was actually crowded. The atmosphere was upbeat rather than, “Hey, we are trying hard, and hoping gold and silver prices go higher.”