Here'a great follow up article to what I snipped out of our last financials.

http://www.ft.com/cms/s/0/b9b2d776-a...

"These factors lead industry insiders to expect a wave of failures and mergers over the next 12 to 18 months.

“Only companies with cash are going to survive the next 12 months,” says Kalaa Mpinga, chief executive of Mwana Africa, referring to junior mining companies.

If price pressures continue to convince executives such as Mr Mpinga to mothball mines and scale back exploration, the cumulative effect could be a contraction in metals supply. Other executives predict such a squeeze might be felt at precisely the time that demand recovers – within 12 months or so."