Just wanted to follow up my last post on the dire financial condition of many small resource stocks with this headline I read today:
from the article:
Cash reserves across the Australian resources industry have halved over the past two years when measured as a percentage of total assets, highlighting the predicament of an industry that appears ripe for a round of rationalisation and consolidation.
Uranium exploration companies are in a lot of trouble financially. There are a few good ones with cash in the bank and plenty of positive developments (I should know I own two) but even they are getting smacked. The wipeout coming in resource stocks will be swift and decisive. Read more here: