In an interview with The Gold Report, the publisher of Mining Speculator newsletter Greg McCoach said current market conditions won’t improve at least until 2014, causing several junior miners currently hanging by their fingernails to go out of business:
“There are only so many talented teams of professionals in the industry that know how to make the discoveries that can be developed into producing mines. When you look at the monies that have been raised in this sector in the last 5–10 years, we have very little to show for it. All the low hanging fruit has already been discovered,” says McCoach.
His words echo senior geologist Brent Cook’s predictions early this year, when he said that at least one third of junior miners would disappear by the end of 2013.
And the latest Ernst & Young’s annual Business risks facing mining and metals 2013–14 report, also support these theories, saying that small firms exploring for mineral deposits worldwide, will continue to be cash strapped for at least another year.
The good news is all of them see quite the light at the end of the tunnel. In McCoaach words: “when the market does recover, it is going to be a screamer.”
6 Comments
Plinko
Certain opinions simply should not be published, because they are too pessimistic
minnner
you are so wrong plinko, because of thoughts like that, markets do not work the right way…
Wayne Waters
Let’s hope Mr. MaCoach is right..
Zegewe
Zbigniew Misiun
ul. Rybnicka 1/7
41-800 Zabrze
Poland
tel. +48 500 539 228
Email: [email protected]
Welcome
I am ready to work in
the mining industry in Australia. My education meets these requirements, a 20-year professional experience (including six years in the mining industry) will
allow me to be a valuable employee for the company. Through this work I get satisfaction in life, and my family will ensure
a peaceful life. I was never scared of
hard work. I was born in the mining town, I live in the coalfield with a lot of
mines, and my father worked as a
miner for over 25 years. I have the necessary
qualities in themselves, and missing elements I learn quickly. Seamlessly
integrates with the new surroundings.
My diligence
and responsibility, will not allow a to
fail company in the exact execution of the tasks assigned. A 12-year
total abstinence from alcohol and aversion to nicotine makes me fully
disposable, especially in urgent situations for the company (in the previous
facility was summoned by telephone to failure at any time of the day or night).
In control studies, the doctors said, that my lungs are like a 24-year-old, and
I’m hearing the 20-year-old. Often I working 16 hours
for me was the norm, sometimes more than 24 hours. I
want and know how to be fully committed to the desired case, never ignored and
I left not any problem, I will do my best to solve any technical problem. With
great enthusiasm I go to the task and with persistence resolute realize it, effectively
seeking to target.
I work in the Maintenance of
the Movement. With curiosity,
I learn quickly automatic control
systems, which contributes to the efficient solution of a machine problem. The fascination with the technical
possibilities, not limit my time to the
proper functioning of machines and equipment. One of the factors that ensure the correct and reliable operation
of automation equipment was carrying out training for the employees of the
plant. Every day the design, execution and implementation of additional
automation systems, with electronic programming and fine adjustment control and
enforcement components, makes the duly doing activities under the scope of my
responsibilities, actions to optimize production processes.
Demonstrating
technical aptitude, including the use of logical reasoning skills, after
15-year break, I decided to continue their education at a prestigious technical
university in Krakow. I want to continually improve their professional skills,
towards newer and newer technical problems. The quest for an effective
professional in the field determines the need for
continuing education in the direction of my profession and education.
All over the world, all
devices work in a similar way. They differ only in the name of the company, but the
goal is the same – must be in working order. Are controlled by electrical
impulses or compressed gas, drive a mechanical force or
pressure of fluids, but the logic is the same, because the laws of physics are immutable. There is no
machine that I would not I be able to fix it, it’s just a matter of time (or
money). All I can do, I just need to know what are the consequences.
As an electrician I have to take special care has an impact on increasing
the safety
at work, taking advantage of my ability
to spot bad acts done by another employee. In Australia, lack of electricians, and I’m the
best.
I want to permanently bind the
employer, who by satisfying job, provide a decent existence for my family with
20 years of experience in marriage. I am ready and able to make sacrifices for
the company, in exchange for
high remuneration. The decision to change jobs and places of residence of all
my family, I made as a result of a very attractive
financial terms offered by the Australian mines, while enhancing electrician
work by the Australian Government. To make a work in Australia, I am
ready to immediately, including the sponsorship
employer such as funding my
relocation, using such the flight of the Polish plane to
Australia. Then I’m going to bring his family and settle permanently in the
area of New South Wales (NSW). So need help from my future employer to rent a
house for 5 people family, preferably in the vicinity of Sydney.
Throughout his career I
do not I have unexcused absences or penalties. I’ve always been a conscientious worker and
disciplined – properly carrying out their duties of employees, arising out of
the scope of activities and powers. I believe I that I am fulfill all the
hopes, to better facilitate the achievement of the objectives of the company.
Yours sincerely,
………………………………….
Zbigniew
Misiun
IPeterI Schissel
On the other hand, Plinko may be partially right.
Something stinks with all this pessimism! It seems like many of these Juniors are looking for an excuse to fail, to go bankrupt…maybe the owners want to liquidate and start over. They might be the true “Manipulators” or self-preservationists as the case may be.They don’t care about little guy stock/shareholders like me.
Now I admit I am naive and inexperianced, so please guys, comment!
I really want to know what is truly going on with these failing Jrs.
Whitehorse
can anyone point me toward a list of privately held mining companies in latin america? I am doing research for a dissertation. I am specifically looking for small, early stage, exploration companies. thanks!