CANADIAN juniors need to spend more money on exploration, or there will be a shortage of new mining projects, PricewaterhouseCoopers national mining leader John Gravelle said last week. This was after the advisory firm released a report, called Junior Mine, which showed a 31% drop in exploration spending for the 12 months to June 30 to $64-million from Canadian firms listed on the TSX Venture (TSX-V) exchange. "That was a little disappointing. I hope they would continue to raise money to do exploration work," he said. "That number does need to go up."
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