The annual Prospectors & Developers Association of Canada, or PDAC, convention in Toronto has ended. I was there, as were 25,000 other people. While I actually didn’t attend the convention much, here are a few things I learned and observed at this PDAC:
1. Some people can never have enough free pens or squishy toys. I’d like to see a concerted effort by the mining industry to eliminate all the free junk that is given away at conferences like PDAC. When you feed a pigeon, you’ll get more and more pigeons that suddenly show up. Ask yourself if you really want to attract pigeons pen collectors. People who covet free trinkets are not who we want to attract to an investment conference. On a side note, thanks to Lundin Mining (LUN.TO) for providing small chocolate bars that I gave to my kids so they would still love me after PDAC.
2. Copper exploration is hot. There are a lot of big mining companies looking for large scale copper projects. Since there are not a lot of those for sale due to the lack of exploration in the past 5-10 years, producers are now funding juniors to go out and drill. This is good for copper explorers, since there isn’t much new institutional or retail money flowing into the mining sector right now. We should all pool our money and hire the Angry Geologist to go out there and find the next behemoth copper deposit for us.