Point is of course valid peaceA, however one could also argue that the economy doesnt need to be growing for people to be sick, or for government approvals to occur allowing useful drugs to market. Having done a Cr means we arent holding out the hat either when it may be suicidal to do so, and value add trials will still go ahead whether the market craps itself or not. As you say stable revenue is the bio carrot, however projected stable revenue from succesful trials is still something anp can offer which isnt as reliant to the state of the market as a resource junior may struggle with.
another bonus of being in this sector includes the large players in the sector will still be strong as you say, so if they are interested in the products they will be in a position to come to the party in some respect.
Compare any iron ore micro company - difficulties raising cash with commodity prices dropping,unhelpful govt, mid/large mining houses battening down the hatches,( fewer t/o's and j/v's), no growth = no juniors needed
regards
ANP Price at posting:
17.0¢ Sentiment: LT Buy Disclosure: Held
