Three evening receptions are a time to network with members of NYC business community (i.e. investors, analysts, bankers et al) and hear thoughtful talks by leading subject matter experts - guest keynote speakers. Read details below.
On Monday, May 19 evening hear:
Can We Avoid Deflation that Typically Follows Inflation? by Mike McGlone, Bloomberg Intelligence; and
What is the Price of Gold Telling Us? by Jeffrey Christian, CPM Group
On Tuesday May, 20 evening hear:
Geopolitics and China; “the big elephants in the mining room” by Keith Spence, Global Mining Capital with Greg McNab, Dentons and Andre Gauthier, Caur Technologies
Mining Investments Succeed or Fail Because of People not Rocks – Best Practices in Management Due Diligence by Steve Enders, Brooks & Nelson
On Wednesday, May 21 hear:
Why is it essential for investors to have a large exposure to precious metals and commodities? by Jonathan Mark Wellum, ROCKLINC Investment Partners
You may register solely to attend the Tuesday and Wednesday receptions. Attendance for the welcome reception on Monday May 19 is limited to the first 125 registrants. Registered CTMF conference delegates are welcome to attend the receptions and register guests. People interested to just attend workshop(s) or reception(s) do not have to attend the conference. All must register in advance.
View the details of each evening reception guest speaker below.
Monday, May 19, 2025
The first of two guest speakers at the welcome reception starting at about 6:10 PM to 6:30 PM will be:
Michael McGlone, Senior Commodity Analyst, Bloomberg Intelligence
Can We Avoid Deflation that Typically Follows Inflation?
Plunging government bond yields in China and speculative excesses in crypto assets may provide guidance for what's typical in commodity and risk asset cycles, on the back of price pumps akin to the 2022 highs - they get relatively cheap. Natural gas and corn bottomed from around breakeven levels in 2024. Crude oil and copper could be heading that way, leading one top beneficiary - gold. Increasing dependency on some combination of a raising US stock market, weak dollar, OPEC supply cuts and more stimulus in China for broad commodity price buoyancy might suggest a downward tilt. What to expect in commodities with volatility and geopolitics on the rise.
Mike McGlone is a senior commodity strategist for Bloomberg Intelligence, a unique research platform that provides context on industries, companies, and government policy, available on the Bloomberg Professional service at BI <GO>. Mr. McGlone specializes in the broad investible commodity markets, authoring the monthly Bloomberg Commodity Outlook. Mr. McGlone joined Bloomberg in 2016 with over 25 years of futures and commodity trading and investing experience, beginning at the Chicago Board of Trade. Prior to joining Bloomberg, he was a head of U.S. research at ETF Securities. Prior to ETF Securities, Mr. McGlone headed the commodity business at S&P Indices. His previous roles included head of futures research at ABN Amro and VP research, analyst, trader, sales at Aubrey G. Lanston IBJ Futures. Mr. McGlone has an MBA from DePaul University in Chicago and bachelor’s of science and arts degrees from Illinois State University. He is a CFA Charter holder and has earned a Financial Risk Manager (FRM) designation.
The second guest speaker will be Mr. Jeffrey Christian, Managing Director of the CPM Group.
What is the Price of Gold Telling Us?
Jeff Christian will speak about the short and long term outlook for gold prices, including discussions of the fundamentals including central bank official transactions – buying and selling – and investment demand trends. He will tie his near term and long term expectations in with the history of free gold markets since the 1960s. In November 2000 CPM and Christian projected that the investment demand curve was going to shift upward sharply in a secular or semi-permanent fashion, followed by a return to net buying by monetary authorities, with investor demand rising sharply not for one or two years, but for several decades. The investment demand would be fed by economic, political, financial, and social dislocations far worse that those experienced in 1978 – 1982, pushing gold prices ‘far beyond $850’ not for years but for decades. The presentation will update that prediction of a Golden Renaissance of investment demand a quarter century ago.
Mr. Christian is Managing Partner of CPM Group, the foremost independent, unbiased precious metals and commodities research consulting company in the world. CPM is paid to be right, not to be bullish necessarily, a characteristic that sets CPM and Mr. Christian apart from most precious metals commentators. He started as a business journalist in the 1970s, working on oil, natural gas, and a full range of metals. His first commodities related report was on oil in 1975, half a century ago. He wrote a newsletter on electric vehicles in 1978 and a book on EVs in 1979. He went to run the Commodities Research Department at J. Aron in 1980, which became the Commodities Research Group at Goldman, Sachs when Goldman bought J. Aron in late 1981. In 1986 he spun the Commodities Research Group out of J. Aron and Goldman Sachs to create CPM Group, wanting to offer unbiased, accurate data, analysis, and consulting with no conflicting interests. CPM and Mr. Christian advise clients on managing metals price exposure, including the most effective price hedging strategies, pre-paid forwards, and other financial products.
Tuesday, May 20, 2025
The first guest speaker, Keith Spence ( 石凯 ), CEO & Partner, Global Mining Capital with Greg McNab, Partner, Dentons and Andre Gauthier, Caur Technologies, in a discussion and Q&A will speak about:
Geopolitics and China; “the big elephants in the mining room”
Keith Spence is CEO and Partner of Global Mining Capital. The company is engaged in Private Equity Investments and M&A globally. The company has extensive funding relationships with its partners in Asia. A field geologist; he held positions in Capital Markets and Investment Banking at RBC Capital Markets, Scotia Bank and BMO Capital Markets. He has been CEO of Alliance Pacific Resources, which explored for gold and base metals in western China. He has conducted business in China for over two decades, and has written and spoken extensively on China’s international mining investments.
Keith is a member of the Board of PDAC and has been a member of the Board of the Canadian Institute of Mining & Metallurgy (CIM). Mr. Spence is Co-Founder and Co-Chair of the “world recognized” Canadian Mining Valuation Standards and Guidelines for mining projects; which is referenced by the Toronto Stock Exchange (TSX-V) and the Hong Kong Stock Exchanges. He received the CIM Distinguished Lecturer Award, the SME Mineral Economics Award (USA), the PDAC Distinguished Award, the Robert Elver Mineral Economics Award for outstanding contributions to Canadian mineral economics and received the Queen Elizabeth Diamond Jubilee Medal Award, for contributions to Canada. A Commonwealth Scholar; he is a graduate of the Global Management program at Harvard University, has an Honors B.Sc. in Geology and an MBA both from Western University.
Greg McNab is a partner in Denton's Corporate group and Canada Co-chair for Dentons' Mining group. His main areas of practice include financings of public and private securities issuers (including private equity and hedge funds), investment management products, capital markets transactions, mergers and acquisitions and resources and energy matters, both domestically and internationally. Greg also advises on corporate governance, regulatory compliance, continuous disclosure and stock exchange matters for public issuers. As a former mechanical engineer, Greg has extensive experience in both the energy and mining sectors. He regularly speaks at conferences, writes articles and appears in the media with respect to a variety of securities, mining and energy matters. He is a director and Canadian Chair of the Canadian Australian Chamber of Commerce.
Greg focuses his practice on public and private financing matters and services and cross-border joint ventures involving jurisdictions that include Asia, Australia, Africa and Canada, among others. His practice includes the negotiation and drafting of prospectuses, circulars, shareholder agreements, opinion letters, applications for regulatory relief, share purchase agreements and related transaction documents. He has been involved in a range of energy and resource industry transactions and financings. He also provides related regulatory advice with respect to climate change issues and has worked on a variety of renewable and clean tech matters, including wind, solar and hydro projects.
Andre Gauthier holds a B.Sc. in Geological Engineering and a M. Sc. in Mineral Exploration both obtained from the UQAC - Chicoutimi, (Québec) and is an active member and leader of many mining and professional organizations (Canada, Peru, UAE, and China). Mr. Gauthier's career has spanned 50 years and projects in over 35 countries. He has held senior positions, including officer and directors' appointments in SOQUEM, Falconbridge, Noramco Mining, Cambior Inc., Maxy Gold Corp (China), Inca Pacific Resources, Lara Exploration Ltd., Vena Resources Inc., and Western Union Peru. Additionally, Mr. Gauthier has been involved in many Gold and Copper discoveries and acquisitions, including Lac Shortt (Canada), La Arena (Peru), Anabi Minaspata (Peru), Luchun (China), Metates (Mexico), La Granja and La Virgen (Peru) and Pachon (Argentina).
Since 2020, Andre has been leading Eval Minerals, his private company involved in mineral investment and advisory. He is on the board of various companies involved in the exploration industry, both privately owned or listed on the Canadian Stock exchange. Since April 2024 Andre is also vice president of CAUR Technologies, a revolutionary Seismic technology which is part of Geophysics GPR International.
The second guest speaker, Dr. Stephen Enders, Executive Chairman, Brooks & Nelson, at 7:10 PM will discuss:
Mining Investments Succeed or Fail Because of People not Rocks – Best Practices in Management Due Diligence*
Anecdotally mining investments fail most frequently because of the people involved rather than technical or market issues. We will be reporting the results of our extensive survey of mine finance companies and investment managers about how they conduct management due diligence assessments and what their experiences have been. Most companies conduct management due diligence in-house, with a few having developed formal in-house processes. The key conclusion is this: “The ones that have gone wrong were because of not having the right people” We will share some best practices and ways to de-bias the evaluation and ensure an objective assessment.
Dr. Steve Enders has worked in the mining business for over 45 years. His career has included roles as President of Phelps Dodge Exploration, Senior Vice President of Worldwide Exploration for Newmont, Chairman, Director, and COO of EMX Royalty Corporation, and co-founder of Cupric Canyon Capital LLC. During the last 15 years of his career, Dr. Enders has been a professor at the Colorado School of Mines and department head for Geology and Geological Engineering and Mining Engineering. Steve retired from Mines at the end of 2023 and is currently the Executive Chairman of Brooks & Nelson, LLC.
* The findings presented in Steve's talk are the result of a study conducted recently by: M. Stephen Enders, Colorado School of Mines, Golden, Colorado; Jerry Gaunt, Brooks & Nelson, LLC, Golden, Colorado; and Jasper Bertisen, Resource Capital Funds, Denver, Colorado.
Above is Rob McEwen, Chairman, McEwen Mining & McEwen Copper at CTMF 2023 presenting: "What do we have to do to attract individuals to an industry, mining, out of favor with the general population but offers some of the highest paying jobs in many countries?"
Wednesday, May 21, 2025
The guest speaker, Jonathan Mark Wellum will discuss:
Why is it essential for investors to have a large exposure to precious metals and commodities?
The mining industry is the cornerstone of the global economy providing the raw materials necessary for technological innovation, including digitization and artificial intelligence (AI), economic growth, infrastructure development, and energy production. Why are many of these businesses trading at depressed valuations, ignored and even vilified? What are investors in the digital world missing?
Jonathan Mark Wellum, CFA is the founder and CEO of ROCKLINC Investment Partners. The company is an independent research-driven investment management firm focusing solely on creating portfolios of high quality assets. Prior to founding ROCKLINC in 2009, Jonathan began his investment career with Portland Investment Counsel (formerly AIC Investment Services) in 1990 and served as the firm’s Chief Executive Officer. In September 2009, AIC’s retail mutual fund business was sold to Manulife Financial. AIC’s assets under management grew from $10 million to a peak of $15 billion. In 1995, Jonathan was named Fund Manager of the Year by the Investment Executive Magazine and in 1997 awarded Fund Manager of the Year at the Canadian Mutual Fund Awards Gala. In addition, Jonathan was a recipient of Canada’s Top 40 under 40. Jonathan holds a Bachelor of Commerce and a Master of Business Administration degree from McMaster University, and Bachelor of Science degree from the University of Waterloo. He also completed a Master of Arts degree from Trinity Evangelical Divinity School (Chicago). He holds the designation of Chartered Financial Analyst (CFA).
Registered conference delegates are invited to attend the receptions. All must be registered in advance to attend receptions in order to enter the building. There are no registrations permitted on site. Members of NYC's business and finance community are welcome to register to join us! We hope to see you there.
* Space is limited. The organizers may need to close registration early. Registration closed early in 2023, 2018 and 2017. We may require some registered delegates to be present in a second and or third board room with live video and audio feed to large flat screens from/ to the main conference room or other meeting rooms and or to attend in adjacent boardrooms to view via live audio/ video feeds the proceedings. Additional rooms and space adjacent to the main conference room are also places to relax, network, meet one on one, for quiet conversations, or work. Join the sponsors. Revisit this site. All is subject to change.
