GL77 I think you hit the nail on the head. The whole small cap...

GL77 I think you hit the nail on the head. The whole small cap sector is weak. I noticed a huge drop off in market activity first when the Japan earthquake hit and last year when it became apparent the mining boom had peaked. It's crap times all-round.
If you're BHP and RIO then the good times continue due to low cost of operation and they will be first in line to pick up cheap failed tenements in the future.
If you're a new producer then you struggle due to marginal costs of production and debt still hanging around e.g. FMG and other newer producers.
If you're on the verge of production it's very hard to raise debt or equity to bring a project to production let alone profitability.
If you're an explorer who cares? You could find a massive intersection of "insert commodity here" at 100% grade and still not get interest.

Of course this will all turn around one day.

In the meantime the old blue chips have done pretty well.

Good luck, do your own research. None of the above is advice.