failure rate of juniour gold producers, page-2

Not sure how reliable the stats are, but came across this a little while back which stuck with me:

Research from geologist Robert Sibthorpe shows that only one in 2,000 (0.05 percent) companies would ever find 1 million ounces of gold, and that only a third of those would be able to turn that find into production. In addition, research from Barry Cooper at CIBC shows that these discoveries are becoming even more difficult. There were 51 gold/copper porphyry discoveries of +3 million ounces during the 1990s, but only 24 of such discoveries occurred during the 2000s.

http://news.goldseek.com/GoldSeek/1314555187.php