“Paying attention and looking for the obvious is not that easy, given the narrative that diverts from whats meaningful.” Spock.
Last week I attended PDAC in Toronto with 25,000 other folks. This is the largest annual gathering globally in the mining sector, and here are my own observations:
1. Attendance was up significantly from last year, which suggests there is a growing momentum of interest underway, from old money, but not millennial money.
2. The demographics of attendees was predominantly male (to be expected in this industry). However, what was striking was the lack of millennial folks (20 year age bracket). Most were middle aged and older. A good contingent of Chinese was observed though.
3. Overall PDAC was a controlled chaos, with side meetings going on all over Toronto. I guess this is what happens when 25,000 folks converge into one venue, with 500 different exhibitors.
The junior mining sector has a problem, in that the millennial is generally not interested in the sector. For example, during PDAC there was a blockchain conference over one day, which was totally packed with 20 year olds. Standing room only and booked out. I ran into one 26 year old, who raised $30 million in 4 days, in a recent ICO.
So the question is, how can the junior mining and exploration sector get access to capital from the 20 year olds, if they have no understanding and next to zero interest in it. Big problem going forward. They are on the other side of the river, and not looking to come across anytime soon.
One solution, that I have been working on using Canamex Gold Corp., is to build a bridge across the river, by accessing the crypto-token capital, via a tokenised metal streaming royalty offering, and using that as a source of cheap capital, to fund development and exploration. I do not see any other option, at this point in time. This way, the 20 year olds have an asset backed crypto to play with, and the capital provides funds to spend on the ground.
Look for more significant developments in this regard, from Canamex, and its gold and silver ethereum alliance, as I take the sector kicking and screaming into the current paradigm, where they do not generally want to go, but have no choice. Change does not discriminate, and those who resist it, and hang onto the old comfortable stasis, get left behind in the garbage bin of history.
The Canadian Securities Exchange (CSE) has bitten the bullet, and now working on their own blockchain based on Ethereum, for tokenising securities. Settlement will be T+0, costs will go down, and naked shorting a thing of the past. Many brokers will go out of business. Not sure what the TSXV is doing, but if the stats are an indicator, they will be out of business withing a few years, if they do not lift their game and take the blockchain route.
Seek the chaos, that place you do not understand (yet), as therein lies knowledge and opportunity.