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Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

PDAC Time

This morning marks the start of the Prospectors and Developers Association of Canada (PDAC) Convention in Toronto. This is the largest mining conference in the world. Last year's attendance was over 20,000. Mining stocks have been crushed since the global demand for commodities diminished.

All is not lost however, Gold is a beam of light that investors are watching very carefully, and it’s the one thing that people are prepared to speculate on these days, according to PDAC Executive Director Anthony Andrews. We think gold could be in the penalty box for 3-6 months if/when gold goes over $1000/oz it will trigger a safety stampede.

With that in mind I'll be talking to as many gold companies as I can this week.