we are already seeing some of that as exploration companies are starved for cash, putting drill programs on hold. but as these companies run out of cash and their drills stop turning, their properties will become available for silver standard and other well financed companies.

in this environment the producers and near-producers who already have the funding they need will be the winners, and the undercapitalized explorers will be the losers. the reduction of exploration will have its effect in years to come, reducing future discoveries and restraining the future supply of metals.