Michael Fulp, geologist, on Resources and Reserves.
Don’t forget that most junior resource companies are simply “mining the stock market”. Few have potentially viable Resources let alone economic Reserves. Most don’t want to be miners. Of those that aspire to this difficult goal, perhaps 1 in 15 will ever develop a project with Mineral Reserves, and more than half of those will fail for one reason or another. Assuming those numbers are more or less correct, about 100 of the 1373 Venture Exchange exploration and mining juniors [Canada] will define a Reserve and less than half of those, perhaps 30 or 40 at most, will develop a profitable mine for their shareholders or, more likely, the bigger company that takes them over will develop said mine.
