says MacDonald CEO fears for junior mining sector
Ticker Symbol: C:BMK
FP says MacDonald CEO fears for junior mining sector
MacDonald Mines Exploration Ltd (2) (C:BMK)
Shares Issued 302,743,080
Last Close 1/11/2013 $0.06
Monday January 14 2013 - In the News
The Financial Post reports in its Saturday, Jan. 12, edition that MacDonald Mines Exploration chief executive officer Kirk McKinnon is passionate about the junior mining sector. The Post's Barry Critchley writes that Mr. McKinnon believes the mining sector is in crisis. Mr. McKinnon released an update last week on the company's drill program that turned into an analysis of what plagues the sector, and how various authorities and market participants have to work together to allow the industry to make its proper contribution to the economy. Mr. McKinnon is not looking for handouts. Rather he is looking for recognition that change is required if the sector, which he regards as "being decimated," is to be a "prime driver" for the economy. He believes the sector is "vital to the Canadian economy." His analysis, based on developments within his company and in the market, starts from the fact that trading volumes on the TSX and the TSX Venture Exchange last year were down substantially. That lack of overall investor interest amid reports that half the industry could disappear within a few years means it is more difficult for the junior explorers to finance themselves, which leads to a further downward spiral.