Price Waterhouse Coopers has produced it’s first-ever report on Canada’s junior mining sector. The PwC survey examined the financial position of the top 100 of the 967 junior mining companies on the Venture board, based on market capitalization as of Sept. 30, 2006. 

It says the total market capitalization of junior miners increased by 86% to $27.6 billion from $14.8 billion in 2005. The survey found that exploration companies were able to raise $1.2 billion through issuing shares, a 206% increase over 2005. 

$409.4 million was put towards mineral properties and exploration. This was 79% more than in 2005. $103.9 million was spent on property, plant and equipment in 2006, more than double that from the year before. 

62% of companies were based in British Columbia. Accross the country however, mining tax incentives help make Canada the world’s premiere jurisdiction for junior mining companies. 

For full report click here:      

It is a very busy exploration year in the area that surrounds Kugaaruk in central Nunavut. The total exploration budget for the region is least $15-million for 2007. 

Indicator Minerals has encouraging diamond counts from an area only a short distance from the community.  A 25.5 kg kimberlite float sample from the 2006 field season recovered 176 diamonds. 

While Indicator has yet to find the source of the boulder, the company has started a $1-million exploration program on the Barrow property and will drill test the best geophysical targets defined in 2005/2006.

The UN Security Council voted October 20 to leave the international ban on rough diamond exports from Liberia in place until the end of the year. (more…)

Here are some interesting points, taken from the November 9, 2006 “Top of the Morning” Email letter, on the current consolidation occurring in the gold mining sector. (more…)

Financings Closed for the month of November:       
       
Total Amount Raised:   C$859,270,249.00      
Total Flow Through:   C$143,885,157.00      
Total Base Metals:   C$370,578,917.00  (Between  74 companies)   
Total Precious Metals:   C$617,019,832.00  (Between  117 companies, 27  specializing in Gold)
Total Diamond:   C$47,187,440.00  (Between 15  companies)  
       
Top Brokers: ABG Sundal, Collier & Pareto with C$115,045,000.00      
 GMP Securities with C$115,000,000.00      
       
Top Regions:  Canada with 92, USA with 25 and Latin America with 21     

   Information collected from the Canadian Financing Bulletin