The “Haves” and “Have Nots” article“I used a phrase two years ago to describe how juniors in the mining space were faring: the Haves and the Have Nots
I could fill pages with more detail on each of those points – and the details matter. For instance, projects need not only be strong but must also be at an attractive stage, which usually means recent discovery or near/new production. Anything in between, from growing a known resource to (heaven forbid) planning and permitting a mine, has gotten no love.
Moreover, the fact that available investment capital has been very limited in the last few years means only companies combining the very best of each of those characteristics have made the cut. Discoveries have to be not just good but stellar.
The select group of companies that clear this bar can raise capital and get things done. The rest can’t. Access to capital then perpetuates the divide – without money, the Have Nots can’t advance their projects, which means they don’t have news to report, WHICH MEANS THEIR STORY GETS STALE , which makes raising money even harder.”