Can't make discoveries when no group wants to fund gold exploration companies.
Assuming a company has a prospective target, with a reasonable discovery cost of $25/oz. to make a 1moz discovery a company would need to spend $25mil.
the small caps are struggling to even raise $5mil for exploration & the mid tiers and top tier miners can't make discoveries for crap.
there are some major structural problems in the gold sector at the moment.
I find the mid tiers like RMS are far more agile when it comes to doing deals.
There are not many projects/companies left to acquire. Maybe a handful or so, miss the boat and it'll be over another decade till we see any projects up for grabs.
the problem is real.
Can't make discoveries when no group wants to fund gold...
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