Melman on Gold & Silver
April 2013 by StaffLast month saw the mining industry take center stage as Toronto, Ontario was once again host city for the giant PDAC annual mining convention. We take at look at that gathering below, focusing on some of the negative industry sentiment on display.
Two potentially important Canadian projects, which could have produced revenues in the billions and jobs in the tens of thousands, have now been officially abandoned and the reasons offered by both relate to the economic impossibility of successfully negotiating all the regulatory obstacles that have been presented.
One of the largest conundrums we would point out is the matter of rising interest rates starting to take place in several nations.
While a great many questions remain unanswered, there is little doubt that a new financing option for small-scale mining operations, “crowdfunding,” is growing as a viable and legitimate funding source.
If precious metals miners and prospectors were looking for a series of dramatic events to usher in the first two weeks of 2016, they have not been disappointed.
There is one last indicator that I believe may be the most important of all. That is the “Index of Leading Economic Indicators” (LEI), which is a compendium of those economic indicators that point toward future growth, and LEI has just reached historic highs, far exceeding previous peaks in 1999 and 2006.
We have heard much “tough talk” through the years regarding reining in the regulatory excesses of government agencies in the past, but little action has followed those words. Perhaps we will finally see a genuine move away from excessive regulation.
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