What Is A Junior Miner Anyway?
Juniorminers.com set out to find what the definition of what a Junior Miner was. So we contacted the nice folks at the PDAC (Prospectors and Developers Association of Canada) and asked them for their definition of a Junior Miner Company. Their response was this: Mining companies are defined largely by the way in which they derive their revenues. A senior producer or operator generates its revenues from the production and sale of the commodity it is mining. A junior mining company has no mining operations and is essentially a venture capital company. It must rely almost entirely on the capital markets to finance its exploration activities [I say "almost entirely" because some juniors derive their financing from private sources]. There is another category: mid-tier producers. These are generally junior companies that have decided to go into production on properties that they have discovered. We then asked the folks at the TSX and their response was: Everyone has their interpretation of the definition of a junior mining company. We see most of them as being listed on TSX Venture Exchange instead of on the TSX.
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