The price of copper is off 20 percent in a matter of weeks.  Gold is off 6 percent.  The dollar is rising, as are mining costs (in energy and skilled labor).

Currently, copper is off 2.7 percent on the day to $3.50, and gold is off nearly 2 percent to $1,773. 

I've never seen as much red in mining stocks as this morning. 

Good luck to any miner trying to raise money in this environment.