miners face funding fears, page-7

I don’t want to sound overly pessimistic, but IMO there is no way that this deal will proceed by the end of October. My reasons are as follows:

1.Established resource stocks are being absolutely murdered, even super performers that are making huge $s. Take for instance coal miner Felix Resources. This coys SP has dropped from $23 a couple of months ago to 11.88 as I write this. Felix has had a 300% profit increase; is about to pay a .50 cent dividend and is in friendly takeover talks with some of the world’s largest miners.

2.Junior explorers are being wiped off the map at the moment.

3.Everyone is turning to cash.

4.Nickel is continuing to freefall.

5.China is entering an economic slowdown.

I still hold and will continue to, however I reckon we will only see a commitment from the Chinese when things settle down....which maybe in 6 months or in 1 to 3 years....who knows.