Marc Faber : Junior Mining Stocks got hit very hard

Marc Faber : Junior mining stocks got hit very hard, for sure. I am on the boards of several exploration companies, and I can tell you that gold mining is a very tough business and it requires a lot of capital. One problem is that exploration companies have no cash flow. Every month, they bleed more cash to keep on drilling and to maintain overhead. If gold and copper prices do not recover, then a lot of exploration companies will simply not have the money to continue operations. - Goldseek