PricewaterhouseCoopers (PwC) has issued its annual sector analysis of the top 100 companies on the Toronto junior market. The 30-page report is available online in PDF format.
PwC reports that equity financing, raised by 2012’s Top 100 mining companies listed on TSXV, as at June 30, decreased by a troubling 41% totaling $1.6 billion compared to $2.7 billion raised by 2011’s Top 100 juniors. The juniors’ struggle to raise equity corresponds with their overall decline in market cap. Market cap for the Top 100 fell from $20.6 billion in 2011 to $11.7 billion 2012, representing a 43% decline. Compared to the prior year, only 39 companies in 2012’s Top 100 held or increased their market cap — 61 companies lost market cap.
The report features interviews with:
- Peter Cashin, President and CEO Quest Rare Minerals
- John McCoach, President TSXV
- Nolan Watson, President and CEO Sandstorm Gold