In 2008 I was at a mine where everyone got let go, many were dependent on the wage from the mine to pay for their house etc. Hopefully many have learnt from that downturn and wont get burnt too badly this time, and shit won't hit the fan.
I agree that access to capital is one of most important things for companies now, along with an industry leading project. A lot of these companies don't function without capital injection. Its defiantly time to find work in big projects.
Most junior resource companies are in sustained downtrends, I don't mean from a technical analysis point of view, but their business model is designed to lose money. They just spend money and have a 0.1% probability of ever finding anything that will turn into a profitable mine. We need them but historically that's just the reality of the industry. Before you hand your hard earnt money over to the company just remember there is a good chance in a few years you could pick up that same ground and explore it yourself and probably do a better job.
