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Juniors are finally getting financed

Kitco News

Investment is finally flowing to junior resource space, said Western Copper and Gold CEO Paul West-Sells.

West-Sells sat down for a podcast on Friday with mining reporters Neils Christensen, Michael McCrae and Paul Harris.

This week the junior financing tracker, Oreninc, said its index leaped to a three-year high.

Last month West-Sells' company, which is developing the Casino project in the Yukon, raised $C4.48 million in a non-brokered private placement.

"There's more money out there than companies needing to raise which is pretty rare in our industry," said West-Sells, who received renewed investor interest when Western Copper and Gold announced a significant resource increase earlier this month.

The rise in copper and gold prices is helping, too. On Monday copper hit a two-year high at $6,633 a tonne.

West-Sells said his company has changed the board composition to move the project forward more aggressively, and the "...copper and gold prices are supporting that decision."

In other news, Neils Christensen said silver, not gold, was the stand out this week.

"The precious metal you want to look at is silver. Silver is taking off, and it pushed above $19 oz this week," said Christensen. "It's kind of exciting to see."

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