Brixton Metals teams up with Eldorado on Atlin Goldfields project
Located 9 km east of the town of Atlin, BC, the property comprises a 579-square-kilometre claim group.
Base metals and gold financings were on the rise in 2010, according to the latest report from Metals Economics Group (MEG). The report, which reviewed junior financings between 2008 and 2010, says financings jumped sharply from almost $2 billion in November 2010 to about $5.5 billion in December — a record high.
According to Metals Economics Group (MEG), base metals financings fully recovered in 2010, increasing 72% in dollar volume to $10.4 billion, while gold financings continued to increase from a strong 2009—rising 14% to $12.6 billion. The volume of financings roughly follows the rise and fall of metals prices. As metals prices increased in 2010, so did investor interest, and financings increased both in number and size. Copper prices increased in nine months of 2010 and base metals financing amounts increased in seven. Gold prices increased in nine of the twelve months, and gold financing amounts increased in eight. Financings for the year totaled $23 billion.
MEG’s recent Strategic Report reviews junior financings completed from January 2008 to December 2010, including all completed financings of $2 million or more from IPOs, public and private placements, convertible securities, debt, and other sources.
Junior financing activity collapsed in the second half of 2008, but the strength of the gold market and the subsequent improvement in copper prices helped the financial markets recover in 2009. Year on year, the dollar value of 2009 base metals financings was down 12%, but gold was up 86% over 2008. Financings jumped sharply from almost $2 billion in November 2010 to about $5.5 billion in December—a record high.
In 2010, 27% of gold and base metals financings were directed to Latin American projects, 23% to North America, 21% to Africa, 15% to Oceania, 11% to Asia, and 3% to Europe. In 2009, North America’s percentage was slightly higher than Latin America’s, and African targets received 25% of the total—4% more than in 2010; but overall, the target locations did not change significantly from 2009 to 2010.
