[Chart] Outlook on Junior miners: is it doom, gloom or boom?
It’s been a tough year for the mining industry as some of the biggest names in the sector have experienced massive financial losses. For junior miners, 2015 has been a hellacious ride.
In its latest Junior Mine 2015 report, PwC takes a look at the Top 100 junior mining companies traded on the TSX Venture exchange. The report found that the average market caps of exploration companies is down 51.2 percent from 2014 to 2015, and the amount of money raised in equity and debt markets for exploration companies is down 33.4 percent over the same time period. To make matters worse, the average company on the Top 100 list has approximately $7 million cash on hand, which is down from $10 million the previous year.
• Related content: Valuation of mining industry falls below $1 trillion: report
However, there could be signs of life to come. Data collected over the last two months shows that market conditions of junior miners hasn’t any gotten worse, and could potentially be getting better.
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