Juniors are in survival mode and these NOT JVs were done when time were very good and everything was 'blue sky'. When it comes time to commit to the second installment of work on the JVs almost everyone is going to bail UNLESS there were some pretty impressive hints in the geophysics AND drilling that convinces them that they are onto something big. Even then they may be forced to walk because they can't raise the money in this market.

Think of it this way. Many junior mining stock are at 10% of their highs. Most can't raise money. Most can't pay for their JVs. Anyone with money can buy into a property of the same calibre as their current JV for a 1/10th of the cost or less. So if you are waiting for the list of JVs that drop out just keep an eye on the dates payments are due and the results. No results and a payment due EQUALS another dropped JV.

Now if they hits something like on the SPQ/KWG/FRW JV then the big question is how do they come up with the money to continue to play.

... Been There