Canada's top five mining juniors doubled their market cap in 2016

The top five mining juniors on average doubled their market capitalization over the 12 months ended June 30, 2016 to CA$546 million, says Price Waterhouse Coopers in newly released study.

The accounting firm analyzed junior mining issuers on the Toronto Venture Exchange. Read the full report if you want to feel better about our mining sector.

Chart from PWC's Junior Mine 2016: Signs of Life study.

In addition to stock prices, cash reserves were up, too.

The top five junior miners also managed to replenish diminishing cash reserves, reporting an average of CA$49 million on hand, up from just CA$14 million a year earlier.

Gold is the key asset for each of the top five juniors, with the exception of number-one-ranked NexGen Energy, a uranium exploration company.

Importantly, two members of the group progressed beyond the TSX-V in July this year, with NexGen graduating to the TSX and Kaminak Gold being acquired
by Goldcorp for CA$520 million.

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.

Chart from PWC's Junior Mine 2016: Signs of Life study.

The post Canada's top five mining juniors doubled their market cap in 2016 appeared first on MINING.com.

from MINING.com http://ift.tt/2e056Jw