Archive | PDAC

Sentiment muted at PDAC conference despite signs of life in mining industry – by Peter Koven (Financial Post – March 7, 2016)

http://business.financialpost.com/

Some optimism is starting to creep back into the mining sector — but not much. Sentiment is fairly muted so far at the Prospectors and Developers Association of Canada (PDAC) conference, which kicked off Sunday in Toronto. The conference, which is the world’s biggest gathering of mining professionals, serves as a good barometer for the state of the industry, and this year’s show is a reminder that things are pretty grim.

he commodity boom is long over, and metal prices as a whole remain extremely weak due to oversupply and concerns about China’s economy. Most junior miners can’t raise a penny of capital, and share prices are, in many cases, lower than they were before metal prices started to rise in the early 2000s.

“We, as an industry, wasted the opportunity offered by the largest and biggest boom in commodity prices,” Mark Bristow, the chief executive of Randgold Resources Ltd., told the audience, citing the industry’s very poor spending decisions and billions of dollars of writedowns. Continue Reading →

NEWS RELEASE: The Prospectors & Developers Association of Canada’s 2015 Convention exceeds 23,500 attendees

Toronto, March 4, 2014 – The Prospectors & Developers Association of Canada (PAC) welcomed 23,578 attendees from over 100 countries to its annual convention. The crowd included investors, analysts, mining executives, geologists, government officials and students who made the annual pilgrimage to the Metro Toronto Convention Centre (MTCC) for the largest exploration and mining event in the world.

“We consider this a very successful year, attendee feedback has been extremely positive and the number of attendees is similar to last year,” says PDAC President Rod Thomas. “The quality of networking and learning opportunities continues to be a prime attractor for attendees.”

The PDAC 2015 Convention started with a series of positive announcements supporting Canada’s mineral exploration and mining industry, including the federal government’s renewal of the Mineral Exploration Tax Credit (METC) and the appointment of Jeffrey Davidson as Canada’s Corporate Social Responsibility (CSR) Counsellor for the extractive sector. The federal government, in partnership with the Ontario government, jointly announced the study of an all-weather transportation corridor in the Ring of Fire region. In addition, the Government of Canada signed a memorandum of understanding (MOU) with the Republic of South Africa during PDAC 2015.

“The provincial and federal governments in Canada are important partners in creating conditions that allow the mineral industry to flourish nationally and internationally,” says PDAC Executive Director Andrew Cheatle. “We look forward to further building upon the constructive activities that occurred at PDAC 2015.” Continue Reading →

Mining looks to First Nations for future manpower – by Len Gillis (Timmins Daily Press – January 29, 2015)

The Daily Press is the city of Timmins broadsheet newspaper.

TIMMINS – Back in the day, spring was the time of year when many Northern prospectors would take some time off and get out of the bush before the snow melted and the creeks and rivers were opened up. Soon enough, they would be heading back in, with fresh supplies, a new tent, a canoe and a packsack full of hope for a new season.

And all across Northern Ontario, the brief spring break found hundreds of prospectors and mining executives heading to Toronto to take part in the annual convention of the Prospectors and Developers Association of Canada (PDAC) which was formed 83 years ago.

The convention continues to be Canada’s largest mining and mining exploration event that brings together people from every level of the industry to discuss common concerns. One of those concerns is how to deal with growing shortage of trained workers, especially in more remote areas of the country — usually where the mines are developed.

Convention organizers say the Toronto event will be attracting hundreds of First Nations representatives who will be networking with mining companies, not only to explore business partnerships, but also to discuss job opportunities. More than 500 Aboriginal representatives took part in last year’s event and the association expects the same level of interest this year. Continue Reading →

NEWS RELEASE: PDAC Honours Six Industry Leaders With 2015 PDAC Awards

TORONTO, ON–(Marketwired – December 09, 2014) – The Prospectors & Developers Association of Canada (PDAC) is set to honour six industry leaders at the PDAC 2015 Convention in Toronto. The annual PDAC awards showcase the achievements of companies, individuals and groups in the mineral exploration and mining sector by highlighting the best in domestic and international mineral discovery, mine development, Aboriginal achievement, environmental and social responsibility, and distinguished service.

Recipients of the 2015 annual awards will be celebrated at the association’s Awards Evening on Monday, March 2 at the Fairmont Royal York Hotel during the PDAC 2015 Convention.

Award recipients are selected by the PDAC’s Board of Directors based on the recommendations of the association’s awards committee. A summary of the awards and recipients are listed below.

Bill Dennis Award for a Canadian mineral discovery or prospecting success

David Palmer, President and Chief Executive Officer of Probe Mines Limited, is the recipient of this year’s Bill Dennis Award for a Canadian mineral discovery or prospecting success. David Palmer is receiving the award for the Borden Gold Project, a discovery located near Chapleau, Ontario. The Borden Gold Project is an exciting and important new gold discovery that continues to evolve, grow and improve with continued exploration. Continue Reading →

[Northern Manitoba] Students drill down into minerals and mining – by Ian Graham (Thompson Citizen – February 19, 2014)

The Thompson Citizen, which was established in June 1960, covers the City of Thompson and Nickel Belt Region of Northern Manitoba. The city has a population of about 13,500 residents while the regional population is more than 40,000.

Prospectors and Developers Association of Canada brings its Mining Matters to Thompson and Nelson House

Students and teachers in Nisichawayasihk Cree Nation (NCN) and Thompson learned about minerals and mining from Feb. 10-14 as Mining Matters, in partnership with Vale’s Manitoba Operations, swept through Northern Manitoba to present its Mining Rocks Earth Science program, sponsored by the Prospectors and Developers Association of Canada in Toronto.

“This is incredible,” said Barbara Green Parker, the aboriginal education and outreach programs manager for Mining Matters, a charitable organization in existence since April 30, 1997 that seeks to spread knowledge about Canada’s geology and the careers available in the country’s minerals industry. “This is the largest Mining Matters program that we have ever done. We are maximizing our exposure in Northern Manitoba. It’s a phenomenal amount. We’re very pleased to be in such high demand.”

Parker was in NCN at Nelson House on Feb. 10-11, presenting the Mining Rocks program to students from Grades 4 to 8 at Otetiskwin Kiskinwamahtowekamik Elementary School on Monday and to high school students at Nisichawayasihk Neyo Ohtinwak Collegiate on the morning of Feb. 11, with the afternoon dedicated to a teacher training workshop. Continue Reading →

Aboriginal sessions popular at PDAC convention – by Glenn Nolan (Onotassiniik Magazine – Summer 2013)

OnotassiniikWawatay’s Mining Quarterly, sets out to provide knowledge and information about the mining industry in northern Ontario to First Nations communities, individuals and leaders throughout the region.

Glenn Nolan is the President of the Prospectors & Developers Association of Canada

In the last decade, positive relationships have grown between Aboriginal communities and the mineral exploration and development industry. I am a member of the Missanabie Cree First Nation in northern Ontario. My father worked at a nearby mine. I saw first-hand the benefits of this important industry, not only in my own life, but in the lives of my community members.

Since that time, the awareness by industry about what should be done to engage communities in a proactive and respectful way has grown tremendously, and that is very encouraging. We have made progress; more than 200 agreements have been signed between mining companies and Aboriginal communities in Canada. These projects range from grassroots exploration activities to producing mines across the country, with many resulting in employment and business opportunities for local Aboriginal communities. This is an exciting time for our communities, and for this sector.

As president of the Prospectors and Developers Association of Canada (PDAC), I am pleased to be in this role at such a dynamic time for our industry. I believe there is tremendous opportunity for Aboriginal communities and companies to work together in a respectful and collaborative manner. Continue Reading →

NEWS RELEASE PDAC APPLAUDS THE FEDERAL GOVERNMENT’S SUPPORT FOR REVENUE TRANSPARENCY

 FOR IMMEDIATE RELEASE – Wednesday, June 12, 2013

TORONTO (June 12, 2013) – The Prospectors & Developers Association of Canada (PDAC) applauds Prime Minister Stephen Harper’s announcement today that the Government of Canada will be establishing new mandatory reporting standards for Canadian extractive companies with a view to enhance transparency on payments that they make to governments. The announcement confirms the Government’s support for a made-in-Canada framework developed by the PDAC, Mining Association of Canada (MAC), Publish What You Pay – Canada (PWYP), and Revenue Watch Institute (RWI) through industry and civil society consultation since September 2012.

“We believe our efforts on transparency provided the groundwork for the Prime Minister’s announcement today,” says Ross Gallinger, Executive Director, PDAC. “PDAC now looks forward to building on the success of its activities through collaboration with the Government of Canada to establish new mandatory reporting standards.”

In September 2012, the PDAC, MAC, PWYP and RWI established the Resource Revenue Transparency Working Group to create a made-in-Canada framework for mandatory reporting of payments to governments. The Working Group undertook months of cross-sector collaboration and consultation with companies, industry experts, investors, government officials, and civil society groups across Canada. The Working Group’s draft framework received broad support from Canadian mining companies, along with investors and civil society, and can now serve as a roadmap for the Government of Canada’s action on revenue transparency. Continue Reading →

Canada’s 2013 Budget a ‘mixed bag’ for miners – MAC – by Henry Lazenby (MiningWeekly.com – March 22, 2013)

http://www.miningweekly.com/page/americas-home

TORONTO (miningweekly.com) – Mining Association of Canada (MAC) on Friday said the new federal Budget for 2013 is a mixed bag when it came to its impacts on the Canadian mining industry.

MAC said it was encouraged by the significant new measures announced to address skills shortages, including the establishment of a Canada Job Grant, support for more paid internships, the reduction of barriers in apprenticeship accreditation, the reallocation of funds to promote education in high-demand fields, and funding for Yukon College’s Centre for Northern Innovation in Mining.

The association added the Canadian mining sector appreciated government’s enhanced Aboriginal training-to-employment programmes and a boost in scholarships and bursaries, which is proportionally the largest private sector employer of Aboriginal peoples in Canada.

MAC also welcomed the government’s proposal to provide $37-million over the next two years to support research partnerships with industry through the granting councils.

“As an industry that will require an estimated 145 000 new workers over the next ten years, we are pleased that skills and labour training emerged as a key theme of the federal budget. Continue Reading →

NEWS RELEASE: PDAC Applauds Federal Budget’s Support of the Mineral Exploration Sector

March 22, 2013 09:02 ET

TORONTO, ONTARIO–(Marketwire – March 22, 2013) – The Prospectors & Developers Association of Canada applauds the Harper government’s budget announcement of a renewed commitment to the Mineral Exploration Tax Credit (METC), as well as key investments in skills training and aboriginal communities.

“The mineral exploration industry is a key driver for our economic recovery and provides critical economic stimulus to some of Canada’s most remote communities,” said Ross Gallinger, PDAC executive director. “The Government of Canada’s support for industry is recognized and appreciated.”

Exploration and mining remain a strategically important sector to the Canadian economy. The industry generates revenue and stimulates growth across the length and breadth of the country, from Vancouver Island to Newfoundland, from Southern Ontario’s salt mines to the metal and diamond mines of the Far North. The sector has a substantial economic impact on our nation’s north and on Aboriginal communities.

“We are pleased that the federal government has demonstrated their support for our sector by renewing the METC. This program has a proven track record of keeping jobs and investment in Canada and will continue to encourage investment in Canadian exploration projects,” said Gallinger. “This is a positive step on behalf of the government to ensure that Canadian companies have access to the financial instruments necessary to remain competitive, particularly given the capital-raising challenges many exploration companies are currently facing.” Continue Reading →

Editorial: The PDAC-saw – by John Cumming (Northern Miner – March 13, 2013)

The Northern Miner, first published in 1915, during the Cobalt Silver Rush, is considered Canada’s leading authority on the mining industry. Editor John Cumming MSc (Geol) is one of the country’s most well respected mining journalists.jcumming@northernminer.com

The first week of March was dominated by the Prospectors and Developers Association of Canada’s mega-convention in Toronto, with 30,147 investors, analysts, mining executives, geologists, government officials, students and international delegations converging in downtown Toronto, just slightly off last year’s record numbers.

The floor was again overwhelming, with more than 10 interesting things going on at any given time for four days straight, and so many people circulating that you could no longer count on just bumping into someone you wanted to meet.

Not bad at all, considering the sharp downturn for junior miners over the past year. Still, the mood was much more sombre than during the giddiest peaks of 2006 and 2011, and a few juniors couldn’t scratch enough money together to buy an airplane ticket and occupy their hard-to-come-by booths.

Lack of funding for juniors was the number-one topic for speakers and delegates. Number two was the dismal share price performances of so many juniors over the last years, as the term “penny stock” has once again become an accurate description of many companies’ shares, rather than a quaint phrase from another era. Continue Reading →

When the world’s miners descend on Toronto, prospects for a party are solid – by Tim Kiladze (Globe and Mail – March 9, 2013)

The Globe and Mail is Canada’s national newspaper with the second largest broadsheet circulation in the country. It has enormous influence on Canada’s political and business elite.

Barely two hours after sundown on Tuesday, security at Toronto’s swanky new Shangri-La Hotel rushed to the lobby to control the size of a fast-growing crowd. Upstairs, the party was bustling under the chandeliers in the third-floor ballroom, and masses of people were flocking from across the downtown core, creating a capacity problem.

The attraction: PricewaterhouseCoopers’ “crystal cocktail party,” put on for the annual mining conference run by the Prospectors & Developers Association of Canada. While Dee Dee and the Dirty Martinis performed live cover songs, swarms of men and a sprinkling of women – a 5-to-1 ratio, at least – treated themselves to oysters, sushi and free drinks. By 8 p.m., they were on the dance floor, doing their very best to find the beat.

The crowd was full of people from different countries, especially the mining hotbeds of Australia, Britain, China and Peru. Despite the chill felt across the global mining sector, they drank and danced like they didn’t care – at least not for the four days they were in town.

It was a spectacle led by the people who lead a troubled industry. Plagued by billions in recent writeoffs from ill-conceived acquisitions and an uncertain outlook for metals prices, mining stocks are in the dumps. Yet it’s hard to subdue PDAC, as the conference is universally called. Continue Reading →

Minister of Natural Resources – The Honourable Joe Oliver 2013 PDAC Speech (March 4, 2013)

Prospectors and Developers Association of Canada (PDAC) International Convention 2013

March 4, 2013
Toronto, Ontario

Joe Oliver is the Canadian Minister of Natural Resources

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Introduction

Thank you very much Mr. Nolan. [Glenn Nolan, President of the Prospectors and Developers Association of Canada] I want to congratulate the Prospectors and Developers Association of Canada for putting together yet another outstanding conference and trade show.

It’s a pleasure to be here to welcome all of you, especially those coming from other countries from around the world, to the largest event of its kind in the world.

Strength and Stability

From the change in your pocket to the airplane that brought you here today, the evidence of the necessity for minerals and metals is all around. Mining, in fact, has been driving Canada’s economic development for years. In 2011, the sector contributed $63 billion in nominal GDP or 3.9 percent to the total Canadian economy — that’s almost $2,000 for every man, woman and child in the country.

Continue Reading →

NEWS RELEASE: The Prospectors & Developers Association of Canada 2013 Convention Exceeds 30,000 Attendees for Second Year in a Row

 Toronto, March 6, 2013 – The Prospectors & Developers Association of Canada (PDAC) is pleased to announce that for a second year in a row over 30,000 people attended the PDAC 2013 International Convention, Trade Show & Investors Exchange. With 30,147 investors, analysts, mining executives, geologists, government officials, students and international delegations, the PDAC Convention remains the world’s premier event for the mineral industry.

“We are so proud of the tremendous success of the PDAC 2013 Convention,” said PDAC Executive Director, Ross Gallinger. “The level of excitement and interest in the mineral exploration and development industry continues to be strong, and the PDAC Convention has once again provided an outstanding program that attracts government, industry, financial institutions and Aboriginal communities to attend.”

Now in its 81st year, the PDAC 2013 Convention is more diverse than ever before. A number of events including the CSR Event Series, Aboriginal Program and Investors Exchange garnered overwhelming support from the general public, reflecting the dynamic nature of our industry. More elected officials attended the convention than in previous years. The role natural resource development plays in the economic sustainability for Aboriginal communities across Canada is evident by the increased interest from the Aboriginal People present. Continue Reading →

PDAC – The numbers are there, but the money isn’t – by Lawrence Williams (Mineweb.com – March 6, 2013)

http://www.mineweb.com/

This year’s PDAC is seeing plenty of visitors, but a dearth of capital which will lead to serious shortages ahead, and ultimately far higher metal and stock prices.

TORONTO (MINEWEB) – I’ve been attending PDAC meetings since the late 1970s and have seen it through a number of major downturns and subsequent recoveries, but I don’t think I’ve ever seen such a downbeat convention as it is proving to be this year.

What sets it apart is an underlying feeling that this time the downturn may have longer to run.

Even in 2009, following what may have been an even bigger market crash in Q4 2008, there were already signs that the industry might be pulling out of its fall; this time around that optimism is not at all apparent – and this is within a community which is by its very nature a generally optimistic one. If you’re a prospector or a geologist or a miner you have to be an optimist by definition.

It is interesting viewing the local press in this respect. There were indeed comments leading up to the opening of the event that the situation among the TSX-V juniors in particular was so dire that there were almost certainly going to be a big number of no-shows with the companies not going to be able to afford to send personnel, and put them up at the kind of inflated Toronto hotel prices currently prevailing because of the general influx of visitors for one of the bigger events in the Toronto convention calendar. Continue Reading →

Junior miners in survival mode, bracing for industry-wide culling – by Peter Koven (National Post – March 6, 2013)

The National Post is Canada’s second largest national paper.

TORONTO — Everyone agrees that junior mining companies are in a severe crisis. The question is: what should they do about it?

It is a theme that has dominated the Prospectors and Developers Association of Canada (PDAC) conference this year. Working capital is whittling away for hundreds and hundreds of Canadian companies, and they have shown little-to-no ability to replenish it. A culling of the TSX Venture Exchange appears imminent, and few people think that is even a bad idea.

But amid the gloom, there are plenty of experts who believe that capable juniors can get back on their feet and emerge from this bear market in a healthier position.

Speaking at a luncheon presentation, hedge fund magnate Eric Sprott said that too many juniors are taking all the cash flow from their producing mines and putting it into the next one.

“Your market cap will go down,” he said. He argued that the ones who can convert their cash flow to dividends will change their fortunes dramatically. And that will allow them to acquire other companies.

Analyst John Kaiser said that the junior market needs to disconnect from the current situation and simply focus on the future. At this point, investors are using any negative sentiment about the mining sector as an excuse to hammer juniors. Continue Reading →