The global fold exploration activity is down in dumps at the same time when prices slump to their two year low and show signs of ending their decade long bull run. Slumping metals prices, and falling equity valuations, reflect serious uncertainty about the world economy.
The recent quarter ended with the Governor of the Bank of Japan announcing a huge monetary stimulus, Europe bailing out the banking system in Cyprus, disappointing employment figures in the USA and worrying signs of a slowdown in the crucial Chinese economy. This depressing scenario has had a knock-on effect over the minerals exploration sector.
Exploration activity has been trending down since the end of October 2011, and according to the latest 'State of the Market' report from IntierraRMG, there were drilling reports from only 355 prospects in March. Gold exploration has been particularly weak, with activity reported from just 172 prospects in March, compared with 382 in March 2012.
Exploration activity has been trending down since the end of October 2011, and according to the latest 'State of the Market' report from IntierraRMG, there were drilling reports from only 355 prospects in March. Gold exploration has been particularly weak, with activity reported from just 172 prospects in March, compared with 382 in March 2012.
Source by Commodity Insights
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