A retrospective overview of Mines & Money Hong Kong which took place last week and encompassed some very interesting presentations and panel discussions.
LONDON (MINEWEB) – What a difference 12,000 km and a couple of weeks makes in the junior mining sector. Mines & Money Hong Kong (MMHK) proved to be a much more upbeat event than this year’s PDAC was in Toronto. The doom and gloom which pervaded the latter just didn’t seem to be so prevalent in Hong Kong.
Maybe this was a function of the companies attending – the PDAC attracts juniors in all states of financial strength from the haves to the have-nots attending almost as a last desperate throw of the dice in hope of raising just a little money.
Those having to cover the expense of exhibiting in Hong Kong probably have a little more financial strength in any case – and the show was dominated by Australian juniors rather than Canadian ones and the ASX has perhaps not suffered quite the meltdown experienced on the TSX-V, although juniors have indeed having to nurse their wounds there too.
What is also pleasant after the horrendous crowds at the PDAC is that MMHK was a far more relaxed event – and that there was a broader range of keynote and featured speakers definitely draws an appreciative audience in, although the auditorium definitely thins out for the 10 minute long presentations allowed for the junior companies trying to present their wares to hoped for investors. But talking to the organisers it does seem that enough of the juniors are sufficiently impressed to get them to sign up already for next year’s event.
Timing is also good. It may have been too close to the PDAC for some, but it finished just ahead of the Hong Kong rugby sevens which has a strong appeal for many of the Australians attending in particular, as well as the expatriate Brits who are well represented on the junior scene.
Of course the gold price had made a move upwards breaking back through the $1600 mark as Cyprus hit the newswires, and with many of the exhibitors involved in gold mining and exploration , that did add a welcome bit of cheer to the proceedings. However it remains to be seen whether gold’s gains can be maintained in the face of the recent bearish momentum which has afflicted it.
For the rest of this article, please go to the Mineweb.com website: http://www.mineweb.com/mineweb/content/en/mineweb-china?oid=183403&sn=Detail