PDAC: The Show is On!
Rumour Central at The Show
In the first week of March every year, 30,000 people from around the world and from every industry possible meet in Toronto for four days. Add alcohol, education and intense deal-chasing, and that’s a breeding ground for great gossip.
The real name of this annual event is the Prospectors and Developers Association of Canada, International Convention, but everyone just calls it The Mining Show, The Show, or PDAC. We’ll be at Booth 2340 with GTA Resources for the week – come by and introduce yourself.
The organization itself, PDAC (Prospectors & Developers Association of Canada) (from PDAC’s website) “represents the interests of the Canadian mineral exploration and development industry. The association is a national organization with more than 9,000 individual members (including prospectors, developers, geoscientists, consultants, mining executives, and students, as well as those involved in the drilling, financial, investment, legal and other support fields) and more than 1,200 corporate members (including senior, mid-size and junior mining companies and organizations providing services to the mineral industry).” And those are just the Canadian elements.
The Show is a great time to see old friends and enemies, get updates on projects, source financing, get educated from the plethora of seminars and courses, and just do deals. Local law firms run early morning sessions before the show floor opens, which means you can get current on the latest legal challenges before walking the show floor hosting over 1,000 exhibitors.
There’s also the Core Shack displaying split core from mining projects around the world, a Prospectors’ Tent to display non-core samples, an Investor Exchange, presentations from the industry’s leading independent commentators, full day sessions sponsored by countries looking to boost their mining profile, CSR and Aboriginal Sessions, and technical sessions showcasing the latest theories and technologies for the mining industry. There’s something for everyone in the industry, from the footsoldier prospectors to the world’s largest producers.
And of course, there’s the nightlife. Downtown Toronto becomes a madhouse, with every hotel, bar, club and restaurant full of fun-seeking miners. The mezzanine level at the venerable Fairmont Royal York Hotel is a funnel for hotel guests returning from outside functions before heading up to a suite party.
I am an unabashed fan of PDAC. As the world’s largest mining trade show, The Show brings millions of tourist dollars to Toronto, confirms Toronto (and Canada’s) stature as the world’s leading mining financing jurisdiction, and brings together people from every corner of the globe. In 2011, at an impromptu lunch meeting, we sat with Russian private equity investors, some of the Chileans involved in rescuing the trapped miners at Copiapo, a rep from a California cloud data company, an auditor from one of the BigFour firms, a Bay Street corporate lawyer from Chile, and some other miners / deal junkies. Nowhere else in the world does this happen.
Many of the attending companies wait for the Show to make major disclosures, for maximum exposure. Great public relations people work the show, as do some other less ethical investor relations types. Putting all of this together always results in rumours big and small about a new find, a new deal, a new financing, a new corporate attack, another failure, a personnel move, directors being added and replaced.
Welcome to Rumour Central.
This will be the first PDAC in about 50 years without Pat Sheridan, who passed away in January. It won’t be the same without him. If you don’t know Pat, please google him. His contributions to world mining are immeasurable, and we were lucky to know him.
The Show starts March 1 this year and runs to March 4 at the Metro Toronto Convention Centre.
Mr. Clausi is an experienced investment banker, executive, director and shareholder activist. A graduate of Osgoode Hall Law School called to Ontario's bar in 1990, ... <Read more about Peter Clausi>