News

March 09, 2010

Party Like It’s 2007: At The 2010 PDAC

By Our Canadian Correspondent

Individuals that make their living in the mineral resource sector are well aware of the dramatic volatility that comes with the run-of-the-mill commodity cycle. So, in theory the quick bounce back from the 2008-2009 commodity meltdown was predictable. It’s not always easy when times are tough, though, to keep the faith, which is why, now that the upswing is in sight, most of the expected 18,000 plus attendees at the 78th annual Prospectors and Developers Association of Canada Conference in Toronto are in a jubilant mood.

Canada’s biggest mining show started things off on Sunday with a bevy of upbeat commodity analysts touting a positive outlook for commodities. Those projections were almost a 180 degree transformation from the subdued outlook statements presented by analysts in 2009.  Leading the charge was Andrew Keen of HSBC Securities in London. He started out by stating what everybody in the audience already knew……that the doubling of the metal prices has been largely driven by the demand from China....