Icewater BJ ..
"Telescope to see them."
Well, the TSE 300 is the largest resource index on the planet. Toronto is a mining town. The TSX has 4000 mostly resource explorers listed. The entire VSE is mostly resource explorers from A to Z. The Sprott hedge fund is 100% gold resource stocks and is the winningest fund of any in the past two years, with gains greater than any fund in history of funds. The PDA is hosted in Toronto and it is the largest mining convention in the world, with 6,000 attendees, individuals and companies. In Toronto brokerages in the past 20 years, the best sales records and gains have always been mining issues. 40% of Canada's foreign exchange is supplied by mines and metals. Mines and related industry used to employ 11% of Canada's workforce.
Your perspective is distincly US, and NYSE at that. Still the US gets a lot out of resources.
Political views look upon the basic industries of man that enable our civilsation at a grass roots level, and tend to belittle them as old and therefore not worthy of attention. Agriculture looks at first like its simply useless economically. Until you look at the fact that without it you starve. And the spin off, the food industry if huge. 1,000,000 people work in food service in Canada, and 25% of workers in Ontario work in food processing and related industry in the chain.
Right now there is a chance for good profits in exploration issues. Producers need a longer term view. Copper and the like is iffy and depends on other industrial growth. But gold and diamonds have a unique niche and it would be a slow witted Fund Manager indeed who did not have some Aber and Diamet in the porfolio. And one who could not keeo his eye out for other potential producers would be a bit dumb as well.
This underscores the pathetic outlook that the major houses have had towards diamonds mine in Canada. If Rio Tinto and BHP will spend the development money, why not funds so that Canadian shareholders can make money?
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