Australia’s junior sector turns to crowdfunding

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Australian junior miners have decided to battle the capital drought afflicting the sector by turning to the Internet to raise funds. The growing practice, known as crowdfunding, consists on soliciting small amounts of money from a large number of people in order to fund a project or venture. But small miners and explorers have been somehow deprived of the innovative method in Australia due to some legal limitations. Cameron McLean and Joe Treacy are hoping the legal barriers will soon come down, under the new government of Malcolm Turnbull.

The Australian reports:

“If and when that happens, Mr McLean and Mr Treacy plan to introduce crowd-funding as a means by which junior exploration companies could source seed capital.

“Early-stage explorers typically tap networks of industry insiders and connections for their initial funding, with those entry-level investments often enjoying significant returns if those ventures ever make it to the Australian stock exchange.”

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