Gold the Key to ‘Tremendous Year’ for TSX-V Junior Miners, Explorers

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Companies that mine or search for gold account for approximately 60% of the market. Four of the five largest TSX-V companies list gold as their commodity of focus.

A survey of the TSX Venture Exchange junior mining companies released Monday revealed that exploration companies were able to raise a combined $1.2 billion in capital through issuing shares last year, a 253% increase over 2005.

The PricewaterhouseCoopers survey found that the total market capitalization of the top 100 Canadian junior mining companies surveyed was $27.6 billion, an 86% increase from 14.8 billion in 2005. However, net financial losses also increased to nearly $396 million in 2006, up from $247 million from the prior year...

In the report, Murphy wrote that "Gold was a key reason for the growth on the TSX-V in 2006. Companies that mine or search for gold account for approximately 60% of the market. Four of the five largest TSX-V companies list gold as their commodity of focus."

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