139Peter

Hi I think your last few sentences hit the nail on the head, the monies have otherwise been diverted. Not the only reason for the lack of action from small miners, the risk factor is playing a big part too. One other factors to consider, perhaps the only finance available to small miners at present is coming from lenders of last resort and when you look at what happened to Cambridge Mineral resources and Eagle Mining due to ridiculous loan agreements from a rather large hedgefund (BlueCrest Capital) this to might be playing a part in companies unwilling to risk borrowing to expand operations.