New Energy Weekly – Sunny Toronto
I just returned from sunny, cold Toronto
I was attending the Prospectors & Developers Association of Canada (PDAC) conference. It’s a massive mining conference, one of the largest in the world. I spent four days deep in the weeds of mining… and I loved every minute of it. At heart, I’m still a geologist.
My main takeaway from the conference was that the mining sector has not fully recovered yet. The first day of the show is dedicated to investors, and it is usually packed. This year, PDAC had extra staff on hand to guide the crowds…
Turned out that they weren’t necessary. Day One was a bust. The morning crowd never materialized. It wasn’t until Day Two that the show seemed to fill up. That’s good news for us. It means that the mainstream market isn’t focused on metals yet.
You can see my updates from the conference floor on our YouTube channel.
However, the main thing I was excited to see was the diversity of mining companies. This wasn’t the gold-centric conference that I’ve seen here before. Instead, it was a mixture of precious, base, and energy metals. The battery thesis was strong in the minds of most bankers and investors.
What stood out to me from this PDAC was the lack of any big discoveries. Usually, there is one company that jumps out. It comes in with a lot of hype, it’s the name on the lips of all the attendees. It’s the booth that has people standing three deep into the aisle.
This show didn’t have that. Instead, my conversations were more general. Investors wanted metals like the ones we’ve been talking about – copper, lithium, and graphite. But there wasn’t any one standout company.
That means we have time to get into position on most of these sectors before the bull market takes hold. And that’s good news.