Australia: News and Views

I work part-time in a small mineral exploration firm. Junior exploration firms are the bell-weather companies of any boom or bust: they are the first to move when the market goes up and the first to bust when the market catches cold.

The reason is simple: they are designed to loose money: their whole purpose is to raise capital which is then spent on exploration. They get the results and use those figures to raise more capital.

The company I work for is listed but often raising capital off-market, its easier and cheaper to deal with behind the scene’s investors.

Well the investors are gone - the drilling program was shut down before the results were in and my hours have been cut from 3 days to 2 days a week.

Which just goes to show that a job is always Just Over Broke and not a good thing to build your financial future on!

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