Live blogging from the Vancouver Resource Investment Conference – Day Two

Daniel Cruz, Senior Investment advisor at Cannacord Securities

• Australia leads Canada in trends. If Australia is doing well, expect the same trend to pick up for Canada 3 to 4 months later.
• Olympic Dam is the most profitable mine in the world. “No other mine comes close.”
• Posco is the third largest steelmaker in the world. It is a Korean company. Due to lack of resources, they have been agressive in Australia and have invested $1.6 billion in iron ore assets in the last found days.
• Cruz says that this bodes well for iron ore assets in Canada.

Frank Holmes vs. Gordon G Chang

China’s economic outlook has been growing questionable due to intimation of a possible housing bubble. Holmes is a bull on China and Chang is a bear. The two speakers face off in a debate moderated by Joe Weisenthal, deputy editor at Business Insider.

China is the number one producer of gold and a large consumer of the metal. What happens in the country has huge consequence for the mining industry.

• Chang argues that the economy is closed.It is hard to invest in the coutry.
• Chang says that the China’s demographics are working against it. It will peak next year and start becoming older.
• Chang says exports are faltering due to problems in Europe. Nearly half the wealthy in China want to leave. The insiders want out.
• Holmes counters that he has heard several stories over and over for years that China is over.
• The country will make mistakes, like any emerging country, but it will power through.