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Spotlight Shines on 2010 World Investment Conference



-- Posted Thursday, 17 June 2010 | | Source: GoldSeek.com

This year's iteration of Cambridge House's World Investment Conference—a one-stop-shopping venue for resource education and opportunities—may not have set attendance records, but the videographer found plenty of people on the floors and in the halls to gather general observations about this year's show, opinions on hot commodities and insights into investment topics. Tune in for some snippets from the likes of Al Korelin, Howard Fitch, Lawrence Roulston, Marin Katusa, David Coffin, Roger Wiegand and many others in this Gold Report exclusive.

Al Korelin, Korelin Economics Report: Welcome to the Cambridge House World Investment Conference in Vancouver, BC, at the Convention Center West. My name is Al Korelin. I am fortunate in that I take a part in this show, and I have been taking a part in these shows every year for the past 15 or 20 years—excellent, excellent investment forums; excellent, excellent educational forums. What you're about to see is not Al Korelin's opinion of the show, but what other people are saying; and I think you'll agree you're going to want to attend next year.

Howard Fitch, Cambridge House:Oh, we're very pleased. This is our sixth year doing the conference in June. Getting a little close to summertime, but a great opportunity for investors to come out, hear what the gurus have to say, what the experts have to say about what's coming down the road as far as opportunities to invest in and profit from the resource sector. And there are a lot of companies here—over 200 exhibiting companies that have lots of projects going on through the summer, lots of development plans. Typically, the summer is a bit of a soft time in the market; so it's actually a good time to get in there, wade through a number of these quality juniors and pick them up July–August. Oftentimes, you'll see a rally in the fall when drill results come out; so it's an excellent time to be shopping for some of the juniors.

GENERAL OBSERVATIONS OF THE SHOW

Gary Freeman, Pediment Gold Corp.: Well, the conference has been a little slower than is typical; but the markets are difficult, as everybody's seen over the last little while. And, once again, this is an industry of hard-core people—people who really believe in the precious metals industry as a whole; so, like always, we see the people that matter here.

Lawrence Roulston, Resource Opportunities: I think the attendance is down; the buzz is down, because the markets in general are down. And when the markets are down, people are just not feeling as enthusiastic, which is really unfortunate because at a time like this—when the prices are down—it's absolutely the best time to get involved. And whether it's commodity companies or any other sector, the best time to be investing is when things are down.

David Coffin, Hard Rock Advisory: I think the show's been a good one. You have to look at any show in the context of the market and also the weather. The weather's been lousy in Vancouver for the last two months, but there's a very good attendance today. I think there's certainly a very good group of companies, and for a gold- and base metals-oriented conference, I think it's doing quite well.

HOT COMMODITIES

Howard Fitch, Cambridge House: Well, we've been hearing that the rare earth element companies are out there. Lithium, vanadium, rhodium—"iums" seem to be somewhat in vogue as part of the clean energy, green technology spectrum (battery, electrical car power, etc). Gold's always a big one here at our conferences, especially with the gold price over $1,200/oz.

Marin Katusa, Casey Research: I think that people have to be careful about the buzz right now. If you walk down any of the halls, it's very lithium- and rare-earth oriented. You have to be very careful about these. They're rare earths, but they're very far from rare. A lot of these companies are trying to promote value in situ. There's a big difference between value in the ground and outside the ground, so be careful with that.

Roger Wiegand, Trader Tracks: Gold this morning was on another tear. It was up $17–$20 this morning. We think it will do a top at around $1,250. And silver, which had sold off considerably from $19.50 to around $17.25, it was back up 40 cents again this morning. So we can see the divergence among the metals and the shares. We can see that companies are going to do well and have great a future. There's no question about it.

Hugh Clarke, Endeavour Silver Corp.: Certain shows have a lot of buzz, whether it's rare earths, silver or the base metals; but I don't find that this time. Everybody seems to be fairly buoyant and optimistic about all the metals, with a little bit of a backdrop of concern over the broader markets. But a really hot item, like we saw with uranium perhaps a few years ago, I don't see at this conference.

Lawrence Roulston, Resource Opportunities: The reason for the attention on gold is because people are looking for a safe haven. They're looking for security; and for that reason, gold seems to be at the top of the heap at this moment. The gold price is up near record territory right now, so it comes back to the comments a moment ago that people are planning on gold at the top of the market, and they're ignoring other commodities when probably the greatest upside potential is in the other commodities being completely ignored by investors at this time.

Marina Trasolini, Resource Opportunities: I think right now everyone's excited about gold. Some people are excited about base metals—we're excited about base metals. And everyone's looking for a good, good company to buy.

David Coffin, Hard Rock Advisory: Gold, without question. The markets are in turmoil. We're in the middle of a very major shift from a western to an eastern focus in the markets. The West is indebted. People are unsure of paper currencies, so they're buying gold. There was an old maxim that you should own 5%–10% of your portfolio in gold. It went by the wayside. That is coming back very much into favor. During that process, gold should be a very good place to be.

Yale Simpson, Exeter Resource Corp.: In terms of hot commodities—as much as nothing's that hot right now—the hot commodities right now are more in the gold space. It's a difficult week to have a show because, if you look at the copper graph, copper broke through its support level today. And if you're a chartist, you'd say, "Oh, copper's going a lot—potentially a lot—lower." Now, I'm not an expert on copper. The gold graph says I'm going higher. Most base metal graphs say I'm going lower. It's always difficult around here to tell a base metals story. In Canada, unless it's nickel, at times it's great. But gold will continue because people know that for a gold story, and I'm a technical, so I'll say it. With a gold story, if you find 100,000 ounces of high grade, chances are you can mine it. In the base metals space, good luck. You can have 100,000 tons of the highest-grade copper you want. Then what? So, in a skeptical market, they'll always fall back on gold.

Al Korelin, Korelin Economics Report: Okay, there you have it. It's been a pleasure attending the Cambridge House World Investment Conference up here in Vancouver, BC. We'll be back next time.

Streetwise - The Gold Report is Copyright © 2010 by Streetwise Reports LLC. All rights are reserved. Streetwise Reports LLC hereby grants an unrestricted license to use or disseminate this copyrighted material (i) only in whole (and always including this disclaimer), but (ii) never in part.

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-- Posted Thursday, 17 June 2010 | Digg This Article | Source: GoldSeek.com




 



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