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Wednesday, Jun 19, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Major mining industry players gather at Vancouver Resource Investment Conference

From gold and silver to lithium and uranium, over 300 junior mining companies met to share ideas and promote their industries

Vancouver Resource Investment Conference brings major mining industry players together
Paul Harris, Editor of the Mining Journal gives presentation entitled: Gold Equities Paying Dividends. VRIC 2023. Photo by Rowan Dunne

The long-established Vancouver Resource Investment Conference (VRIC) returned this week for the 25th time and brought a vast array of mining companies to the city’s convention centre.

An assortment of individuals with different roles and interests were there between January 29-30 to view the various booths and presentations. Mining companies in attendance were involved with everything from gold, silver, copper and nickel to lithium and uranium.

Paul Harris, a renowned mining industry researcher, reporter and analyst who currently serves as the Latin America editor for the Mining Journal, gave a presentation titled, “Gold Equities Paying Dividends.”

Harris discussed how many gold companies have been paying more and higher dividends since 2020.

“Since 2020, gold companies have been stepping up the dividends they pay,” Harris said, “and an increasing number of gold companies are paying dividends,”

Harris also says there are many who believe the price of gold will continue to rise and stay at a high dollar.

“Many commentators think we’re moving into a cycle of higher gold prices, which for the gold producers means growing margins.”

Read more: Calibre Mining finds robust drill results from Golden Eagle project

Read more: Calibre Mining offers a ‘very attractive’ value-risk proposition: Haywood Securities

Mickey Fulp, a renowned geologist from New Mexico with over 40 years of exploration experience throughout multiple continents gave another gold-themed presentation titled, “Gold…’Tis the Season!” Fulp has worked and travelled in 31 different countries for several different mining companies. He is a graduate of the University of Tulsa and the University of New Mexico where he studied earth sciences and geology.

Fulp discussed how the average annual return on the price of gold is higher than it has been for the past 27 years. He also says buying gold during the summer months and selling it after Christmas can yield an even better return.

Major mining industry players gather at Vancouver Resource Investment Conference

Geologist Mickey Fulp presents ‘Gold…’Tis the Season!’ VRIC 2023. Photo by Rowan Dunne

“The annual return over a 27-year period on the price of gold has been up 6.5 per cent. So you can buy gold at the beginning of the year and on average sell for six and a half per cent profit,” Fulp said.

“Better yet, you can buy it during the summer doldrums and hold it for less time, say six/seven months and make a better return from December 25 to February 25,” he added.

Tara Christie, President and CEO of Banyan Gold (TSX-V: BYN) (OTCQB: BYAGF) spoke about the value of the conference for her company in an interview with Mugglehead.

“It’s so great to reconnect with shareholders, for our geologists and our technical team to have the ability to talk to other technical teams and other geologists, and we’re just about to start our field season,” Christie said.

Read more: Calibre Mining Pan Mine assays show strong potential for Coyote mine target

Read more: Calibre Mining 2022 operating results show year round gold production of 222K ounces

Christie also discussed the outlook for gold mining this year.

“I think a lot of the good operators that have been able to manage their costs with inflation are going to do very, very well this year,” Christie said. “Our neighbour Victoria Gold Corp. (TSX: VGCX) has their cash flowing something in the order of $150 million with the current gold price, which is pretty significant. So you know, as long as you’re managing your costs, it’s a great bold environment.”

Banyan’s stock price rose by 2.17 per cent today to $0.47 on the TSX Venture Exchange.

Victoria Gold’s stock price dropped by 0.096 per cent today to $10.38 on the TSX.

Major mining industry players rendezvous at the Vancouver Resource Investment Conference

Replica of Victoria Gold’s first gold pour at the Eagle Mine in 2019. VRIC 2023. Photo by Rowan Dunne

Lastly, Christie said that Banyan has seen its share value rise in recent days.

“We’re one of the few juniors that have seen our share price go up,” Christie said.

Noteworthy past attendees of the VRIC include former Canadian Prime Minister Stephen Harper and Mexico’s former President Felipe Calderón.

Sponsors of the annual event include Wheaton Precious Metals Corp. (TSX: WPM) (NYSE: WPM) and GoldMining Inc. (TSX: GOLD) (NYSE American: GLDG).


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