url: universal and vulcan to merge , page-35

Perhaps but the market will remain wary of juniors who want to develop anything other than top tier resources (even then its preferable with a JV). There are a few out there trading at cash backing or less (e.g. CFE, HGO, VCN) because the market thinks building a copper mine is an unwise investment in current economic climate. I agree, but there's no harm in exploration especially with view of a sale/JV to a major or the Chinese. These guys can absorb the price volatility but it can wipe out a junior mining a single commodity at anything less than the lowest cost - even if its only short term (CUO is a case in point). Drilling holes is much safer, and more fun imo.