Gold pops over $1.2k, not a massive move by any measuring stick but yes, a darned sight better than when it ticked $1,140/oz less than ten trading days ago. And the reaction from the junior exploreco people is the most obvious of them all, get those placement offers into the market. As day follows night.
People, let us be clear: The vast majority of companies with no money have no money for a very, but very good reason. They’ve peddled moose/llama/yak pasture at you for years and yeah for a while back there the party was fun, but punchbowl is now dry and the half bottle of Thunderbird lurking at the back of the kitchen cupboard isn’t going to change things. The people scrambling to get the private placements out there this week don’t want to make you rich, they want to get a few more monthly salary cheques instead of shares-for-debt deals 12 months from now.
Let nature do its thing, evolution, law of the jungle, Darwinian exercises, whatever. These companies must die in order for the Canadian junior exploreco sector to survive and have a real long-term future. Let them go gracefully, stop giving them your money.