A friend sent me a table of "June Quarter: Capital raisings of...

A friend sent me a table of "June Quarter: Capital raisings of mineral exploration companies with Queensland projects" data from SNL Metals and Mining (note that this table is a snap shot only, and is based on companies with public announcements)

Here's the quick percentage numbers:
1. of the money sort, 65% was raised ($17,876,353)
2. of the money raised, 27% was for exploration ($3,894,680)
3. of the raised not for exploration, was for the purpose of Asset acquisition, working capital, debt reduction and development.
4. no new IPO's of exploration companies with interests in Queensland

Using an industry standard, that 30 to 40% of money actually raised is used for drilling (the rest feeding Admin and field costs), it shows just how bad things are.

I know this is a small grain of local information, but it is a good simple check. I like to see if there are any others out there, following BLY and are doing the same. What happened in your area (if you're even interested)?