Pharmaceutical stocks.

Telecoms.

Retail.

Utilities.

Financials.

I could have picked any of those sectors over the past couple of years and done much better.

But noooooooo, I had to hitch my wagon to CUU...

Juniors hit hard, as mining faces "confidence crisis," PWC report says

MONTREAL _ Canada's junior mining companies endured another rough year with the market value of the top 100 falling by 44 per cent to $6.49 billion, according to a PricewaterhouseCoopers report.

In its seventh annual report released Monday, the accounting firm says the mining companies listed on the TSX Venture Exchange also saw their cash and short-term investments drop by $695 million to $1.2 billion.

The report's author says the entire mining sector is facing a ``confidence crisis'' and that junior companies are hardest hit.

Falling metal and mineral prices and tight financial markets have made it challenging for them to raise money.

Cash generated from financing activities fell 34 per cent, on top of a 52 per cent drop in 2012.

"Investors are shying away from the high risk-reward proposition of junior miners - turning instead to those that pay dividends or have more assets to support them,'' said John Gravelle, PwC's Global and Canadian mining leader.

Only three paid a dividend last year _ Sierra Metals Inc. (TSX: V,SMT, Stock Forum), Callinan Royalties Corp. (TSX: V.CAA, Stock Forum), and Midway Gold Corp. (TSX: V.MDW, Stock Forum).

The report said companies have cut expenditures, including stopping exploration work, while others will only survive by merging or accept takeover bids.

Writedowns surged to $87 million for the year ended June 30, up from $32 million in the prior year.

The top 100 raised $795 million in equity financing, down by half from $1.59 billion in 2012, with only four of 15 producers raising more than $1 million.

The number of initial public offerings has fallen by more than half in the past three years to 24 in 2013, down from 52 in 2011.

http://www.stockhouse.com/news/natural-resources/2013/11/04/juniors-hit-hard-as-mining-faces-confidence-crisis