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American Consolidated Minerals Corp AMERF



GREY:AMERF - Post by User

Post by deeton Mar 05, 2011 9:08am
462 Views
Post# 18237170

pdac

pdac

...on this weekend. Perhaps something positive will come out of it for AJC shareholders.

deet

Muchhas changed since Tony Andrews joined the PDAC in 1987. But deal-makingremains a major attraction for attendees at the annual Toronto miningconvention.

One ofthe leading advocates for the Canadian mining industry is preparing tostep down from his role as executive director of the Prospectors andDevelopers Association of Canada.

Tony Andrews will retire after the PDAC’s annual convention, which gets under way in Toronto on Sunday.

Tony Andrews“I’mcontemplating some new challenges,’’ said Andrews, who has led theassociation’s efforts in the area of corporate social responsibilityand government relations. But he said he is in no hurry to decide onwhat to do next.

It will be the 24th consecutive convention for the Toronto-basedgeologist who has seen some very significant changes in the last twodecades.

When he joined the PDAC in 1987 the association was viewed as merelyan Ontario organization and the annual prospectors’ convention was awindow on exploration in Canada, attended by roughly 4,000 delegates.

This year, a record 23,000 registrants from 125 countries areexpected to mix and mingle in the trade show halls, a reflection of howCanadian mining has expanded its reach to become a truly globalindustry.

PDAC 2011 will play host to 60 official delegations and governmentofficials from Afghanistan, Chile, India, Mongolia and Brazil.

Andrews said what is now the world’s biggest mining show has grownso quickly that there isn’t enough space in the Metro Convention Centreto accommodate the number of people and exhibitors who want toparticipate.

“We aren’t planning to move because there isn’t another venue in Toronto that could accommodate us,’’ Andrews said.

But if much has changed in the industry, there are many things that remain the same.

As usual, the attendees are attracted by the opportunity to checkout new mineral discoveries and get a sense of what’s happeningexploration-wise not only in Canada but in just about every corner ofthe globe.

“What they come for is networking, information, and education on themyriad of topics that are presented,’’ Andrews said, adding that thefocus this year will be on Africa and Canada.

The opportunity to do deals remains a major draw.

“The deal making happens everywhere,’’ Andrews said. “I have seen itin the lineups for registration. I have seen it at head tablereceptions. You put these people together like this and deals are goingto happen at every level.’’

A major talking point this year will be soaring iron ore prices andthe imminent launch of Black Iron Inc., a Toronto-based company whichis gearing up to go public in a bid to fund the Shymanivske iron oredeposit in the Ukraine.

“Black Iron is expected to come out of the starting gate with a $200million market cap,’’ said Nick Tintor, President and CEO of Southern Andes Energy Inc. (TSX: V.SUR, Stock Forum).

But the often boisterous convention isn’t just about deals. Thisyear again, it will spotlight some of the bigger issues facing themining industry and investors at large.

They include environment concerns and the need for companies to focus on corporate social responsibility.

“The world has changed a lot,’’ said Andrews. “Twenty years ago itwas all environment. Now the focus is on community engagement, humanrights, and making sure that you are sensitive to community needs,’’ hesaid.

In keeping with tradition, high profile speakers have been lined upto discuss the issues that are uppermost in the minds of investors.

On Monday, Sprott Asset Management Founder Eric Sprott will give a luncheon speech titled “Investment Survival in a Meltdown,’’ On Tuesday it will be the turn of Donald Coxe, a Strategy Advisor with BMO Financial Group to lead a panel discussion on commodity consumption in China.

On Wednesday, “Climate Change and associated environmental and economic costs will be the topic of a discussion lead by Lawrence Solomon. A columnist with the National Post, Solomon is also the founder and managing director of Energy Probe Research Foundation.

There will be prizes too.

Chilean Mining Minister Laurence Golborne will receive a specialachievement award for directing the rescue of 33 miners from the SanJose mine last year. In keeping with that theme, the Pheonix 1 minerescue capsule will be on display at the convention.

Yukon prospector Shawn Ryan has won the Prospector of the Year Awardfor his gold discoveries in the Yukon Territories. “He did somebeautiful geological and prospecting work on placer gold and found thesource,’’ said Andrews.

In 2004, Ryan identified the anomaly that led Underworld Resourcesto its White Gold deposit and the subsequent $138 million takeover by Kinross Gold Corp. (TSX: T.K, Stock Forum).

This year, the Viola R. MacMillan Award for mine development goes to Agnico-Eagle Mines Ltd. (TSX: T.AEM, Stock Forum) and (NYSE: AEM, Stock Forum).

Aside from celebrating achievement, the convention is also a venue for parties.

As usual the beer and wine will be flowing at dozens of companyhospitality suites in Toronto’s Royal York Hotel and elsewhere.

All of that activity makes the 4-day convention a major moneyspinner which is expected to pump about $45 million into the localeconomy, said Saley Lawton, the PDAC’s communications director. (Lawtonis also set to retire after PDAC 2011).

Accounting for 78% of the association’s annual revenue, Andrewssaid the convention is the engine that drives advocacy work on behalfof the industry and many programs such as the focus on corporateresponsibility.

Meanwhile, as convention organizers gear up for a record year, they are already preparing for 2012.

“Basically it’s a year-long process,’’ Andrews said.

After stepping down from the executive director in about threemonths from now, he plans to continue to do advocacy work on behalf ofthe mining industry.

PDAC sources said the association has yet to select a successor.

ABOUT THE AUTHOR
Peter Kennedy

Peter Kennedy is a Stockhouse reporter and web content editor.

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