At the Prospectors & Developers Association of Canada’s annual convention (PDAC 2024), a panel discussion titled “Earning the Attention of Millennial Investors” was hosted by Anthony Vaccaro (President, The Northern Miner Group), featured industry experts, Matthew Geiger (Managing Partner, MJG Capital Fund), Luc ten Have (Founder, GoldDiscovery.com), and Nick Tartaglia & Dan Kozel (Co-founders, NewGen Mindset).
The conversation centered on the critical challenge of attracting younger generations to invest in the mining sector. The discussion shed light on various strategies and insights aimed at engaging Millennials and Gen Z investors, who are crucial for the future sustainability and growth of the mining industry.
The panel’s consensus centred on the need for innovation, education, and effective communication to reach these investor groups.
What Interests Younger Investors
Anthony Vaccaro addressed the importance of understanding the interests of younger investors. He suggested that reliable data, such as that from the CFA Institute, indicates a significant interest in cryptocurrencies and individual stocks among younger investors.
Vaccaro stressed the need for the mining industry to tap into these interests effectively. “We can’t just be preaching to the younger generation if we don’t understand the sorts of things they’re interested in,” Vaccaro explained, pointing out the necessity of aligning the industry’s outreach efforts with the interests of younger investors.
How to Reach Gen Z
Luc ten Have emphasized the potential of digital platforms in reaching younger audiences. He pointed out the necessity for the mining sector to adopt a more aggressive digital strategy, leveraging social media and online platforms to educate and attract younger investors.
“The younger generation, Gen Z, is not going to come here to this conference, and go face-to-face with mining companies,” he remarked.
He highlighted the importance of specialized platforms for investment research in the mining sector, such as his website GoldDiscovery.com.
Value Creation Brings Investors
Matthew Geiger made a point about the realistic expectations needed when engaging younger investors. He noted the industry’s recent struggles and the impact on investor sentiment.
Geiger argued that until the sector becomes consistently profitable, attracting younger investors en masse might remain a challenge.
“Millennials, Gen Z investors. They’re not too different from other investors. They want to make money,” Geiger stated, emphasizing the universal desire for profitability among investors, regardless of age.
Mining Education Gap
Nick Tartaglia discussed the cultural and educational gaps that exist between the mining industry and younger generations. He highlighted the lack of mining-related content in traditional educational and media channels, which contributes to a lack of understanding and interest in the sector.
“One of the problems I’m seeing is probably more of a cultural gap, especially from an education standpoint,” Tartaglia observed, suggesting that bridging this gap is essential for engaging younger generations.
Barriers to Entry
Dan Kozel focused on the need for the mining industry to simplify its message and learn from the marketing successes of other sectors, such as cryptocurrencies. Kozel pointed out that the industry has not done enough to make itself appealing and understandable to younger investors.
“When I first started in this sector, I had to learn a lot and I’m talking about understanding what a 43-101 was, understanding what a drill bit is, and understanding drill results,” Kozel remarked, underlining the barriers to entry for new investors and the opportunity for the industry to improve its communication strategies.
Final Thoughts
The insights provided by the speakers offer a roadmap for the sector to follow as it seeks to secure its future by engaging with the next generation of investors.
The panel collectively underscored the importance of leveraging social media for education and outreach, improving the industry’s image, and addressing environmental concerns to bridge the gap with Millennials and Gen Z investors.
They also highlighted the potential for innovative approaches, such as tokenizing mining assets or creating educational content that resonates with younger audiences.
The challenge is significant, but so is the opportunity for innovation and growth in an industry that is foundational to the global economy.
PHOTO 1: “Earning the Attention of Millennial Investors” Panelists
Notes: All numbers in CAD unless otherwise stated. The author of this report, and employees, consultants, and family of eResearch may own stock positions in companies mentioned in this article and may have been paid by a company mentioned in the article or research report. eResearch offers no representations or warranties that any of the information contained in this article is accurate or complete. Articles on eresearch.com are provided for general informational purposes only and do not constitute financial, investment, tax, legal, or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. Individual circumstances and current events are critical to sound investment planning; anyone wishing to act on this information should consult with a financial advisor. The article may contain “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements are based on the opinions and assumptions of the Company’s management as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein. Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Please read eResearch’s full disclaimer.
