"Mining indices are up 4.3 - 4.5 percent at the moment."

UPDATE - Gold mining indices are up again today. Since the low on October 11, the advance has been about 12-14 percent (including Canadian markets). These indices, of course, follow major producers who represent a breakout from what's happening in the market for junior mining companies and explorers.

While the availability of capital contiues to be a drag on these markets, there is another overlooked element holding things back, at least for the juniors. That is the lack of any exciting, market moving discoveries. In fact, the only business the producers seem to be in at present is in lowering costs, and in giving up or trading assests.

But these observations kind'a feeds back into the lack of capital, though some few explorers are moving ahead on projects even in this difficult environment.

Now, if Hay Mountain drill results are at all nearly as good as many of us anticipate, this could be spark that helps bring back the whole sector. Even if it doesn't kick-start the sector, LBSR will lead the pack and stay out front, in my opinion.

FWIW

VP