Record Crowd Gathers at Toronto Mining Show Chasing Shrinking Funding Pie |
| Bloomberg - Mar 8, 2012 |
A record number of prospectors, geologists and promoters showed up at the world’s largest mining gathering this week in Toronto searching for funding that’s become increasingly elusive.
“There’s a lot of cash sitting on the sideline, still cautious about where the market’s going,” Ron Little, chief executive officer of Ottawa-based Orezone Gold Corp. (ORE), said at his booth nestled among about 600 other cubicles at the Prospectors & Developers Association of Canada convention. “The smaller companies for the next year may struggle if they don’t have enough cash to get through.”
More than 30,000 people registered for this year’s PDAC event, according to the association, topping the 27,700 last year. The meeting, now in its 80th year, is a magnet for startup mining companies -- known in the industry as juniors -- seeking investment to develop and build mines.
Read Full Article from Bloomberg
- Posted: 2012-03-08 13:20:52
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