14 Oct Top five Canadian mining juniors double market cap in 2016
The top five TSX-V listed mining juniors doubled their market capitalisation over the year ending 30 June, 2016 to C$546 million, according to a newly released PricewaterhouseCoopers (PwC) study.
The Canadian mining industry has seen a recovery this year after a sustained period of significantly depressed commodity prices.
The top performing junior NexGen Energy (TSX:NXE) is focused on uranium exploration, while the next four: Roxgold (TSX-V:ROG), Kaminak Gold (TSX-V:KAM), Gold Standard Ventures (TSX-V:GSV) and Gold Reserve (TSX-V: GRZ) all look to gold as a key asset.
“Investors’ renewed enthusiasm for the sector doesn’t necessarily signal the end to the painful downturn, but it puts market valuations very close to where they were in 2012,” said the PwC Junior Mine 2016: Signs of Life study.
This is Kaminak’s only appearance on the top-five list, but Gold Reserve, Roxgold and NexGen held onto their top-five status from a year earlier. Two juniors fell off the list in 2016, including Reservoir Minerals Inc., which was acquired by Nevsun Resources Ltd. in June.