Saturday, March 5, 2011

A friend is at PDAC....

...and wrote me a mail. It was so good that I asked him if I could re-print it on the blog. He agreed as long as I used the slightly scrubbed version below (I won't go into why he wanted to scrub a little...suffice to say that he doesn't want to do jailtime in Canada). Here's the result, enjoy:

The investment fundies class today was fun... but my stomach, and 3 hours of sleep, were killing me so I skipped the lunch and the afternoon half. I missed "how to build a mine" with James Whyte of the OSC, formerly at Northern Miner (very good speaker in 2 morning lectures, and very boots-on-the-ground), which is okay as I've got the Hard Rock Miners' Handbook and the email of the guy who put it out. I also missed the 2 separate sections on Discounted Cash Flow, which is fine as it seems to be all voodoo and number-massaging, and all I seem to need to know is how to do forensics on an NPV to look for bullshit. I already massage NPV calcs for work, so I know what bullshit they are.

I might want to let Gary T. know that Clifton Star was one of the two examples used for calculating value of non-producers - though the class was mostly bankers, so I wouldn't expect them to run out and cause a price spike Monday AM with buys at market like we get with IKN recs. The guy running that part of the class was Brian Christie from Desjardins. That section of the class was more like a BNN pump than anything informative.

Tomorrow I'll be seeing Kaiser, Fulp, Cookie and Doody, and I'll be hitting the booths. Seems like there's a BNN ministage on 800 level, so maybe these guys will be giving short interviews as well? Might want to keep your eyes open so you can link to another Cook appearance.

In case you've never been there, btw, this takes place at the Metro Toronto Convention Centre South Wing. The South Wing is pretty much entirely underground. What a great place to talk about mining - three floors below sunlight. I imagine if I look around long enough I'll find a Balrog.

But this is even better:

They gave Casey a room. 
Resource investing master (ooh!) class: How to make money speculating in junior resources
Casey Research
Monday, March 7
2:00 pm – 5:00 pm
Room 717B