Wednesday, 13 November 2013

PWC Review of the Top 100 Venture Companies

Juniors in Survival Mode - includes year on year combined balance sheet comparatives
Miners are facing a confidence crisis and juniors are the ones hardest hit. The market cap for the top 100 junior miners on the TSX Venture Exchange (TSXV) fell 44% to $6.49 billion in 2013 as compared to 2012. The cash position of junior miners has also steadily declined. Among the top 100 on the TSXV, cash and short-term investments fell by $695 million in 2013 to $1.2 billion compared to 2012’s balance of $1.9 billion.
Developers were the only junior mining category that increased capital expenditures (capex) in 2013 by a modest $74 million. Looking at other categories some juniors, particularly at the exploration stage, have been forced to stop work on their properties. Others will decide their only survival tactics is to merge with another player or accept a takeover offer.

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