PDAC Convention 2005

The convergence of high commodity prices, investor interest, cashed up juniors and high levels of exploration activity in Canada and abroad was a recipe for success for this year’s 73rd convention, trade show and investors exchange of the Prospectors and Developers Association of Canada. The stars were in alignment for this annual meeting of people and companies working in the mineral exploration and development industry.

In his opening address, Peter Dimmell, president of the association, referred to the industry’s strong recovery, particularly in the junior exploration sector, over the previous two years. “Data compiled by the Metals Economics Group,” he said, “demonstrate that the junior mining sector has been responsible for much of the rise in exploration spending globally. Expenditures in 2004 by the junior sector were up 103% to $1.58 billion. This spending accounted for close to 60% of the overall increase in exploration worldwide.” The report containing these data can be accessed by clicking here.

Attendance at this year’s convention reached an all-time high of 12,000. This figure included delegates, exhibitors, guests and over 2,000 people who registered for the investors exchange. The attendance figure also included 35 official delegations. In all, 99 countries were represented.

The technical program reflected the global nature of mineral exploration today. Sessions covered exploration related issues in Asia, Africa, and a very fast journey – 120 minutes in fact – around the world in diamond exploration. Other sessions covered advances in geophysics technology, new discoveries and developments, and an afternoon session on exploration plays. A full day was devoted to the mineral resources of Canada, a series of papers given by members of the Geological Survey of Canada.  Take advantage of the opportunity to purchase a Convention CD-ROM containing the audio from the sessions synchronized to the speakers PowerPoint presentations.

Also demonstrating the international nature of exploration were the many displays in the core shack.   Projects from every continent except Antarctica were featured in this bustling area.

The trade show and investors exchange exhibit areas were also very busy areas. In the trade show, 283 exhibitors occupied 460 booths, and in the investors exchange, there were 362 exhibiting companies. Presentations in the exchange forum and the PDAC/CAMESE exhibitor's innovation forum complemented the exhibits.

The Mineral Outlook luncheon featured keynote speaker Richard Sandbrook who is senior advisor to the UN Development Program. In his address, Sandbrook spoke about the ever widening gap between the rich and poor in the world despite the millions of aid dollars being poured into developing countries. Allowing enterprise to become an integral component of that aid could well offer a solution. At the joint PDAC-CIM luncheon, Placer Dome’s President and CEO Peter Tomsett spoke about organic growth versus acquisition as the key to sustainability.

A record number of media covered the convention, including many reporters and journalists from overseas. Canada’s national newspapers and news wire services were all represented and gave the convention prominence in their daily articles.

Highlights of the convention were many. On display was a 616-carat diamond brought in for the occasion by De Beers and fabulous Placer Dome gold bars, all under the protective and watchful eyes of members of the Royal Canadian Mounted Police. The annual awards evening was a glittering evening that reminded the many attending that this industry creates wealth but that wealth does not come easily – it is created with hard work and effort and is not without risk. A diamond luncheon on Tuesday attracted a large crowd. The gala evening concluded the convention and for a few hours at least, those who had braved Toronto’s bitter March winds and snow enjoyed the sunshine and warmth of the South Seas.

These facts and figures provide the backdrop to the convention but cannot begin to tell the full story about this event. Who can say how many business deals were made, how many partnerships formed, how many drills purchased, how much information was relayed or absorbed? Only time will tell. However, we are extremely proud that this convention has become a world leader for its technical excellence and for the networking opportunities it provides members of the mineral industry. The PDAC sets the standard for other conventions. This impressive record is due to the efforts of many volunteers, particularly those members of the planning committee, and of staff, sponsors, and suppliers, all of whom do their utmost to create this world-class convention.

We are already looking forward to next year’s convention which will be held in the Metro Toronto Convention Centre from Sunday, March 5 to Wednesday, March 8, 2006.