The days of "easy money" for junior miners may be over, according to Rick Rule, president of Sprott U.S., who sees record levels of financing for even low-quality junior mining projects as a sign of caution.
"The space itself, I think is substantially overbought. The truth is, scores of companies have been able to do very, very large financings," Rule told Kitco News.
Rick Rule, founder and chairman of Sprott Global Resource Investments Ltd., began his career in the securities business in 1974. He is a leading American retail broker specializing in mining, energy, water utilities, forest products and agriculture. His company has built a national reputation on taking advantage of global opportunities in the oil and gas, mining, alternative energy, agriculture, forestry and water industries.