Some alarming figures on the cash balances of junior mining companies

Some alarming figures on the cash balances of junior mining companies. The chart attached comes from Hedley Widdup at Lion Selection Group @hwiddup. It shows the cash balances at September 14 of junior mining companies on the ASX. The alarming but perhaps not surprising figure is that more than 50% (or 289 companies) have a balance of less that a million dollars. The listing costs for the ASX for 12 months alone is $850k... Capital raising, consolidation and capitulation are all likely to be a feature in this space in the year ahead.