I find it amazing that there is not much more Venture Capital around, which sees the tremendous opportunities of this sector. I can understand that succesful exploration companies are not very eager to sell off their entire company at today's low valuations. But if you would have venture capital companies coming in to buy say a 20-30% stake on the basis of a five year investment plan to turn exploration companies with large resources into producers, I think that existing shareholders would not object.

If the interest only comes from Barricks and the likes, we obviously can expect the Nova Gold kind of reactions. So I don't blame junior miners and exploration companies for their conservative and defensive attitude at this stage.