|
|
||||||||||||||||||
Toronto Resource Investment Conference by John Lee, CFA 11/1/2007 Toronto Resource Investment Conference (Oct 21 & 22) This week we are moving on to the always exciting city of Toronto for the Cambridge House investment conference. http://www.cambridgehouse.ca Along side PDAC, Cambridge House is indisputably the largest resource conference in Canada. Organizers Howard Fitch and Joe Martin whom I have known since 2001 are always a pleasure to talk to and deal with. We departed Vancouver's 5° C rainy weather and arrived in Toronto to a warm 20° C breeze. This is the third city (after Chicago and Denver) in a roll we've visited in the past month were the climate was unseasonably warm. I strolled downtown with friends from the resource sector. Toronto, albeit not as organized as Chicago, is a big city with a lot of people and a great night life. Downtown Toronto has no doubt joined Vancouver in the condo building craze, and that comes expected as traffic and home heating bills are talking a toll on households throughout North America. We called it an early night after dinner and a drink, readying for Sunday's conference start.
 Mr. John Lee and our marketing director Mr. Luis Zapata I joined the Sunday concluding debate on precious metals with David Morgan, David Coffin and Ian Gordon; and the Monday concluding world debate with Ian Gordon, Jay Taylor, and Henk Krasengburg.
 Mr. James Turk, Mr. John Lee and Mr. David Morgan at the speakers' dinner People were concerned about a correction in gold. To me gold's run has just gotten started, the chart below clearly demonstrates so.  Gold Stocks XAU presented even better and safer entry now than it was below 170.  On the question of Gold vs. Gold Stocks, I mentioned the XAU over Gold ratio. When the ratio is low, buy gold stocks, when the ratio is high, sell both!  Then the question changed to geopolitics. Questions on Russia, Iran and oil. My response was simple, the chance of Iran or Russia dropping a missile in your backyard are slimmer than you dating a supermodel, so quit worrying. Russia has an agenda and is trying to regain some of territories they lost from the USSR era, so let them be. I don't understand why people are so concerned about war in Iran or oil supplies. As I wrote in my latest article: "Gold and RMB - last shoe to drop for the dollar" I didn't discover any new exploration story from the conference floor. For those looking for an interesting exploration play they should check out our Northern Lion write up here. Similar to the Denver and Chicago theme, the traffic in Toronto on Sunday was moderate. Monday was slower, and I didn't sense any enthusiasm from the visitors that came by. The traffic was nowhere near that of last year and I would probably say it is the slowest conference traffic for a Cambridge House Toronto show since I started attending in 2002.  Mr. John Lee on the panel with David Morgan, Ian Gordon, and Jay Taylor  Good Audience on a Sunday afternoon for the panel Again, this goes to show we have barely scratched the surface in the junior resource fever. I can almost already predict the 180 degree turn around this time next year. As I am writing gold is ready to break out of $800, I say, bring it on!
UPCOMING SPEAKING ENGAGEMENTS World Alternative Investment Summit, Montreal – Nov 5 - 7
|
||
On November 5-7, I will be speaking at the 2007 World Alternative Investment Summit Canada which will be held at the Hilton Montreal Bonaventure. More information about exhibitors, speakers, accommodation, and activities is available at the 
All Banners
|
