junior specs and developers

The mining sector has no depth at the moment.

Placement capital is shrinking rapidly, volumes drying up, talks of convertible notes etc.

Chats with drillers and the labs confirm that not much is going on three months down the track compared to full order books out to 18 months not too long ago.

Do not think random punting will be overly rewarding for some time to come. Charts are irrelevent as per usual (name the billionaire chartists?LOL)whilst most penny dreadfuls pumping projects where the operating costs will not be in the bottom quartile will struggle.

Of note, most project finance is now virtually non existent as well.

Tough times for most.

Cheers, TAS