RIU Sydney Resources Round-up engenders upbeat mood among investors and exhibitors
Thursday, 16 May 2019 The RIU Sydney Resources Round-up last week attracted at least 1,000 investors and fund managers who took the opportunity to connect with a broad cross-section of Australia’s junior and mid-cap resources scene. Hundreds of people were seated in the conference hall at any one time to hear of the opportunities available in the sector as well as trends that are influencing the market. With more than 70 presentations during the 2.5 days of the 16th Sydney round-up and in excess of 70 companies hosting display booths, there was no shortage of opportunities. READ: RIU Sydney Resources Round-up paints positive outlook for base metals Vertical Events managing director Stewart McDonald said he was delighted with the response to the conference at the Sofitel Sydney Wentworth. He said it was noticeable that there was a steady turnover of investors throughout the event, both in the conference hall and at the booths. More than 70 companies had display booths. “Challenging investment conditions in the sector failed to dampen the enthusiasm of the investors with most exhibitors and presenters reporting genuine interest. “There was definitely an upbeat mood among attendees and exhibitors,” he said. “This was enhanced by many of the investors using the conference as a forum to identify opportunities.” Strong sense of optimism McDonald said there was a strong sense of optimism for the near-term future of the resources sector in Australia. This sentiment was backed up by a number of presenters who identified a number of factors behind the outlook. Blackstone Minerals managing director Scott Williamson presents. These included the ongoing strength in the gold sector, changing market dynamics for base and battery metals, the US-China trade war and downward pressure on the Australian dollar. Westpac Institutional Bank director – economics Justin Smirk said that the shift to services-based growth in China rather than industrial was seeing increased demand for base metals away from bulk resources while the impending electric vehicle revolution was also changing dynamics. READ: Blackstone Minerals Ltd has high hopes for future of new Vietnamese nickel project An individual success from the conference was Blackstone Minerals Ltd (ASX:BSX) which revealed details of a new acquisition. As well as attracting plenty of interest during the event, the company’s share price increased by around 35% afterwards to 8.5 cents on Monday.
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