In my opinion the junior sector has more blood to spill.The...

In my opinion the junior sector has more blood to spill.

The current quarterlies show how short of cash most are. If you have less than $1million you are cactus. Between $1 and $2 million you are marginal and can realistically afford only one more drilling program before you beg the broker for the next cap raising.

Quarterlies by end January should confirm the picture as to who has a 'real'story worth considering in the short to medium term.

Raising less than $1 million only covers just over 12 months head office costs plus some tenement maintenance- the average is around $800,000. That does not leave much room for serious exploration.

Those that are in the fortunate position of having majors spending the exploration dollars in jv may appear to be the safer bets in a lot of cases. (And the majors are not simple to attract in the current climate with all their cost cutting!)

Now, with all that gloom and doom, let us see if we can have a Christmas rally now that October is behind us!

Cheers, TAS