The comment that "most of the more than 800 junior miners ... are worthless" is accurate. You just have to look at certain companies (which I won't name here since it's not directly relevant to Peak) that have undergone multiple name changes, multiple stock ticker changes, and capital raising after capital raising to keep in business.
I can't comment on the article specifically, because the Australian wants a subscription to read it, and I flat out refuse to let Murdoch have any of my money; however, I did find a brief summary with a little more detail than LTL's post had.
The key question is: what projects does a company have? If the project is good, the long term prospects are excellent. The hard part is finding out which projects are good and which ones aren't.
I certainly believe that Peak stands a good chance of being in the survivors; it's just a question of what it will take to weather the storm. The downside of the industry can't be ignored, and the risk is still there for holders, no matter how good the project may (or may not!) be.
PEK Price at posting:
9.3¢ Sentiment: Hold Disclosure: Held
