LAUNCESTON, Australia, Feb 11 (Reuters) – If the adage “follow the money” is to be applied to commodities, then currently the place looking most attractive to investors is gold mining.
The common theme at two mining investment conferences held last week in Cape Town was that putting cash into gold mining companies offers the best prospects in the commodity space.
At the 121 Mining Investment event about half of the more than 100 mining companies attending were either pure gold plays, or were targeting the precious metal in their portfolios.
The conference aims to put together mainly junior miners with investors seeking growth opportunities, and it was clear that gold companies were the flavour of the month.
A panel made of up investors from across the spectrum, ranging from major banks to smaller specialised funds, was unanimous in their support of gold. “For us, gold is the only place to be this year,” said one of the fund managers, who can’t be identified as the event was held under Chatham House rules.