More mergers expected as miners face tight financing

Mar 06, 2013 | 02:36 PM | Daniel Fitzgerald

Tags  mine financing, mining capital, Nolan Watson, John Nyholt, Luquman Shaheen, PDAC, Daniel Fitzgerald

TORONTO — Junior base metal mining companies are finding it tougher to obtain financing, with more merger activity likely as companies seek to mitigate risk, according to delegates at the Prospectors and Developers Association of Canada (PDAC) convention in Toronto.

Many delegates from junior metal mining companies told AMM that it is difficult to find funds in the current economy, with talk of a "capital strike" occurring.

"Financing is difficult—near impossible. But good projects with good potential that are well managed always raise money," said Luquman Shaheen, chief executive officer of Panoro Minerals Ltd., Vancouver, British Columbia....

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