Junior washout hasn't materialized, but number of delistings is growing

Some in the Canadian mining industry breathed sighs of relief on Monday as a new report by PricewaterhouseCoopers showed that junior mining companies on the TSX Venture Exchange were doing better than expected.

Since the scope of the PwC survey includes data until June, MINING.com took a look at delistings on the Toronto exchange over the past three months.

TSX-V data from August to October shows nearly half as many delistings as in the full year surveyed by PwC – still a far cry from doom-and-gloom predictions that hundreds of juniors would delist in a matter of months.

The numbers show a familiar trend: Most companies knocked off because of mergers, acquisitions and graduations to the TSX. But out of the sixteen mining companies that delisted from the TSX-V over the past three months, three did so because of a "failure to maintain exchange requirements."

One oil, gas and mineral services company also delisted during that period.

In the 12 months leading up to June 2012, only 31 miners on the TSX-V delisted, while just seven did so because they requested it or for failing to pay listing fees. The report also showed that most juniors have managed to save money at a time when financing is drying up.

See also: Canadian juniors more resilient than many expected: report