Cash and cashflow is the only measure of the value of a junior now.
The TRGD property development model was fine,when JV partners could get cash for their development work.Once JV partners cannot get the funds they need,we have returned properties-and a lot more funding to do.
Looking further out,will the 1970s be relived in the precious metals? If so,at some stage,later in the 'game',the juniors will take off.For now,the hedge funds make the junior market with their shorting