The study is based on information collected from 33 prospectors and 172 mineral and coal exploration companies operating in British Columbia.
Ernst & Young Mining News
Weak performance from the Canadian mining market while S&P/TSX Composite index on the rise.
Ernst & Young supports the merger of the TMX Group and LSE since it believes that the respective strengths of the two exchanges would complement one another. In a report looking at increased market capitalization on the TSX by miners, Ernst & Young says that both the LSE and TSX provide rich sources of capital to companies at different stages in the mining lifecycle. While the TSX is good at attracting startup and exploration companies, the LSE is focused on developed and diversified businesses.
Market capitalisation for miners on the TSX and TSX Venture rose from Can$325 billion in 2009 to $467 billion in 2010, according to a study released by Ernst & Young on Wednesday. The study also found that the mining sector raised $17.7 billion through IPOs and private placements, eclipsing the oil and gas industry which only managed $11.3 billion. The study also found that there were 52 mining initial public offerings on the TSX and TSX Venture that raised more than $1.3 billion.