The revaluation of Juniors is not done by any stretch. As minerals are hypothecated the values assigned to the Jrs is out of whack with their cash values. But, these are the guys who decide what things are worth. Think about a Jr as a mortgage rolled up in a derivative. Where mortages were falsified the Jr takes a beating on valuation because of past experience with fake mortgages in derivatives. Collateralization of metals includes the Jrs because they are the source. Yesterday and today saw a number of them get dumped on by their funders. The Mineral Fields type investors are fleeing. You can see them leaving in waves but hoping you won't notice. Look at HPY yesterday and today. BMO and anon are exiting. WRN was not immune either.

http://www.risk.net/risk-magazine/feature/2241693/risk-energy-risk-commodity-rankings-2013-metals

Despite CUU's sp the OBV is showing signs of accumulation. Volume is drying up as people are done selling and the pool is getting tighter. Normally after a spring money NR comes the plan for the year. They decide what they need to spend on then go get the money. So shortly after we get the details. Since we are mainly funded by EE the odds of a valuation run are slim.