Finally a credible story on Junior Miners (DUST, JDST, NUGT, JNUG)
Why do the are the Direxion Daily Gold Miners Bear 3x Shares ETF (DUST) and Direxion Daily Junior Gold Miners Index Bear 3X Shares ETF (JDST), Direxion Shares Exchange Traded Fund Trust (NUGT), and Direxion Shares Exchange Traded Fund Trust (JNUG) trade so volatile? Finally a study/survey that justifies the state of the junior miners.
Grant Thornton has been around almost 100 years, this is not a fly-by-night firm that is trying to make a name for themselves. Their research shows that the junior minors are cash strapped and hurting to make ends meat. Many of them will fold. Its why DUST, JDST, NUGT, JNUG are swinging 10%+ on a daily basis. It's ugly for these companies that make up those 3X ETFs.
Via miningglobal.com | Nov 18th
A new study by consultants Grant Thornton shows just how rough young mining companies have it in the current economic climate. The conditions brought on by the shift in demand for commodities threaten the existence of these junior mining companies as well as most in the industry.
According to the 250 mining executives surveyed for the report, close to one third of junior miners have to raise additional funds within six months, while just under 60 percent know their companies need to top up cash within a year. What is perhaps the most worrisome is around 10 percent of junior miners are not aware of their companies need more money.
"It is an untenable situation for many mining companies, and one that has plagued the industry since the summer of 2010,” said Jeremy Jagt, mining leader for Grant Thornton Canada.
Our position has not changed on these ETFs, they are deadly. Again..Lose Money Fast on Miner 3X ETFs (DUST, JDST, NUGT, JNUG)
Best of the Blogs
Scanning and identifying the best blog entries every hour
- "It's The Inverse Of Keynes" - Earnings Season Was Very, Very Bad | ZeroHedge
- Republican Confidence Soars To 9 Year Highs As Democrats' Comfort Crashes | ZeroHedge
- Millennials Don't Consider Themselves Adults Until 30 | ZeroHedge
- 100 Years Ago, Russian Stocks Had A Very Bad Day | ZeroHedge
- NJ Transit Service Suspended At Penn Station After Train Derailment | ZeroHedge
- Former Attorney for George W. Bush, Richard Painter, Says Alt-Right Websites Are Guilty of Treason | ZeroHedge
- Watch These Geopolitical Flashpoints Carefully | ZeroHedge
The most relevant financial news and articles from the Internets
- It is looking more and more like Johnny Manziel will soon be back in the NFL | Business Insider
- This e-learning startup has created a series of courses taught by well-known... | Business Insider
- POLL: Americans want employers to pay for family leave... | Business Insider
- 'TRUMPCARE' JUDGMENT DAY: The GOP's Obamacare replacement... | Business Insider
- TRUMP ISSUES ULTIMATUM: Pass this bill or Obamacare stays | Business Insider
- Benny Johnson demoted from role as chief content officer at Independent Journal... | Business Insider
- We should never have told people to start taking vitamins | Business Insider