PDAC 2007 Preview
Friday, March 2, 2007
By James West
The greatest show on earth
If you've never been to the Prospector and Developer's Association Convention, you're missing out on the Academy Awards of the resource industry. Not only is it the biggest event of its kind in the world, it is also one of the oldest having got its start in 1932. Back then, copper was five cents a pound, and gold was trading at $20.67 per ounce. This first convention was held at Toronto's King Edward Hotel on February 29, 1932, and there were a total of 132 prospectors in attendance.
The reason for their meeting was that the Ontario Government, in an effort to give a boost to the many unemployed mining engineers at the time, decided to make it mandatory for prospectors to have their preliminary assessment work reviewed by a mining engineer, which the era's prospectors could not afford. The association was born.
Today, the PDAC's annual convention is the world's premier meeting of mineral explorers, developers, investors, corporate and investment bankers, financiers, analysts, and government representatives.
Over 12,000 attendees from 90 countries are expected with in excess of 430 companies and 280 organizations planning to exhibit.
Hundreds of millions of dollars in deals are done right on the floor of the Investor's Exchange, and Toronto's dining establishments are packed to overflowing with wheeling dealing mining executives and investment bankers, huddled over steaks and wine, closing deals and swapping stories.
The atmosphere for anyone remotely associated with the mining business is electric.
And the best part about it is it's FREE for individual investors to attend.
This year, expect record numbers of attendees, exhibitors, deals, and media. With a broad secular bull market in commodities entering its fourth straight year, this PDAC could be the watershed event that finally brings the heretofore fringe exploration and mining companies from obscurity into the global investing consciousness, and transforms mining from an alternative/contrarian investment class into a portfolio staple.
Mining companies who are exhibiting always try to make a big splash in the days leading up to the PDAC as well as during the exhibition. This year is no exception, and there are a few notable companies whose booths are sure to be hives of investor activity as they have some of the most intriguing deals in their various sectors.
I am sure ARU's booth will get allot of attention.
Regards,
F.F. |
