Due to market forces that made it difficult for the industry to raise money, there were fears that as many as 600 junior resource companies would disappear from the TSX Venture Exchange last year.
But those fears did not materialize and only about 20 companies actually did disappear.
Responding to questions from a Kitco reporter, McCoach said the low number of disappearances is as sign that junior mining firms have been resilient.
“Miners were able to bootstrap financings and cut costs. Very few have actually stepped away from the market,’’ he said.
Looking back to 2013, McCoach said 73 new mining companies got listed on the venture exchange.
While that is lower than normal, McCoach said the number comes as no surprise, given the unfavourable market conditions.
He is hoping to see an increase in the number of new listings this year.
Still, McCoach said the exchange has no plans to change its initial listing requirements.
Rather it hopes to boost its listings “by offering the best platform in the world for juniors and by reducing the burden on being a public company,’’ McCoach said.
On March 3, 2013, the TSX Venture Exchange and the Chile’s Santiago Stock Exchange announced an agreement that will lead to the creation of a new venture exchange division of the Santiago Stock Exchange.
It will be called Santiago Stock Exchange, Venture.
The agreement aims to leverage the experience of the TSX Venture Exchange, which specializes in facilitating the capital formation of early-stage growth companies.
McCoach said Chilean authorities wanted to try and bridge the gap between its vast mining industry and capital markets.