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By J D. Goldsworthy

The McPhee Creek bedded iron deposit is a recent discovery made by Giralia Resources NL (Giralia) in the northern Pilbara of Western Australia. The deposit lies 30 km north of the town of Nullagine along the southeastern margin of the East Pilbara Granite-Greenstone Terrane (EPGGT).The McPhee Creek area is located in the Kelly Greenstone Belt in the southeastern part of the EPGGT. The Archaean aged greenstone belt consists of volcanic and sedimentary sequences including the Warrawoona Group and the Gorge Creek Group. The McPhee Creek iron ore deposit lies within banded iron formation (BIF) rocks of the Gorge Creek Group. The structure of the McPhee Creek area is dominated by a northeast trending, upright synform (Sandy Creek Syncline) and associated folding that is truncated by northeast trending faults in the east. Iron ore mineralisation is predominantly stratabound and follows the dip of the bedding – however, in some areas, particularly in the southwest of the deposit, mapped steep to moderate dips of bedding planes are at odds with underlying fl at mineralised zones in drill sections. Zones within the deposit that contain substantial thickness of iron ore correspond to areas of complex folding suggesting structural control and iron enrichment in fold hinges. Petrographic analyses confirm mineralisation is goethite dominant and the deposit is strongly supergene enriched.Giralia initially identified iron ore potential in the McPhee Creek area through the presence of a small known channel iron deposit (CID) mesa. Giralia began exploration in 2008 by re-drilling a portion of the CID (subsequently named Crescent Moon) and reported a small low-grade Inferred Mineral Resource. Target generation in the wider area utilising Geological Society of Western Australia maps and Ikonos satellite images identifi ed strongly ferruginous outcrops associated with major structures along an 8 km long range located 2.5 km to the west north-west of the Crescent Moon CID deposit. In late July 2008, a total of 62 rock chip samples were collected during a helicopter supported sampling program conducted at McPhee Creek. Samples taken from haematite-goethite enriched BIF and canga zones outcropping intermittently over the 8 km length of the western and central areas of the prominent range assayed up to 63 per cent Fe. These zones represent the discovery outcrops and surface expression of the McPhee Creek main range iron ore deposit.Follow up sampling, geological mapping, bulldozing of access tracks and ramps and reverse circulation (RC) drilling commenced in September 2009. A maiden Inferred Mineral Resource was announced by Giralia to the Australasian Securities Exchange (ASX) on 15 December 2009.The current Indicated and Inferred Mineral Resource at December 2010 stands at 260 Mt grading 56.2 per cent Fe, 0.12 per cent P, 6.7 per cent SiO2, 2.3 per cent Al2O3 and 9.5 per cent LOI at a 50 per cent Fe cut-off. McPhee Creek is one of the largest iron deposits found in Archaean BIF in the northern Pilbara.

Jul 11, 2011

By A. G. Loomis

METHODS for measuring relative permeability as a valid function of saturation were compared by the. Bureau of Mines, using core samples from representative oil-productive California formations, from the Bartlesville sand in Oklahoma, and from synthetic samples. Measurements for gas-oil systems were made by steady-state dynamic, unsteady-state displacement and two stationary-phase methods. Measurements for water-oil systems were made by the unsteady-state displacement method. As the ratio rather than individual relative permeabilities is measured by the last method, three methods for calculating individual relative permeabilites from their measured ratio were compared for gas-oil systems and two methods for water-oil systems. Errors arising from capillary discontinuities, such as the end effect and stabilized-zone flow, are discussed and evaluated; possible errors rocs arising from turbulant flow are also examined. The inapplicability of non-steady-state methods for water-oil systems that are not definitely oil-wet is discussed in detail. Measurements of relative permeability to both gas and oil can be made quickly and accurately by the steady-state dynamic method when rates of flow of the two phases are sufficient to minimize the capillary discontinuity at the outflow end of the sample. At such rates relative permeability-saturation measurements are essentially independent of the rate of flow. The steady-state method wits modified by a dispersion section at the inflow end of the sample acid designated tie dispersed-feed method.

Jan 1, 1962

By P. Mousset-Jones

The USBH Mining Systems and Ground Control Generic Research Center funded a project leading to the improved planning of airflow and refrigeration in underground mines experiencing hot working conditions. The project was broken down into approximately five phases: 1. Visiting some of the known hot mines in the U.S. and sending out a questionnaire to determine other mines which might be experiencing hot working conditions in the future. 2. Choosing two mines in which to conduct measurements to determine the insitu rock thermal conductivity and diffusivity, and comparing these values with laboratory determined values. 3. Investigating computer programs available for mine climate simulation, and testing these programs with case study examples from the two mines where the rock thermal properties were measured. 4. Considering improved ways of estimating the wetness factor and experimenting with the use of heat flux meters to more directly measure the rock heat inflow into the airstream. 5. Applying the results of these investigations to simulating the climate for future mine development and production areas at the two- mines. The project is approximately two thirds completed. At the time of writing, the insitu measurements at one of the mines are still being recorded. This paper will be describing the procedures and results of the insitu rock thermal property measurements, and give a brief description of some of the simulated results obtained for a mechanised cut and fill stope case study from the Homestake Gold Hine in South Dakota.

Jan 1, 1985

By Michael D. Loy

This paper examines the computerization steps of United Coal Company of Bristol, Virginia. OVERVIEW Producing close to 7,000,000 tons per year, United Coal Company is one of the most interesting mining companies in the east. Their approach to mining reflects a dedication to modern technologies and extraction methodologies. With varying amounts of production coming from four divisions (a fair amount of production comes from contract operators) and over a billion tons in recoverable reserves, United rests heavily on the planning and engineering efforts of a centralized engineering group. Although each division relies on its own engineering personnel for day-to-day management and operations, long range planning and reserve management is conducted at the corporate engineering level. This group, while extremely competent and efficient, is relatively small (7 people), when compared to the needs of a large mining company.

Jan 1, 1985

By John B. Knaebel

This paper is one of a series being prepared by the Bureau of Mines on mining methods and costs at various mines in the United States, Canada, and Mexico, and is a description of practice at the Edwards mine of the St. Joseph Lead Co. ACKNOWLEDGMENTS The cooperation and assistance of the officials of the St. Joseph Lead Co. in permitting publication of this paper and providing every facility for its preparation are gratefully acknowledged. Especial thanks are extended R. J. Mechin, manager, R. F. Mitchell, mine captain, and J. S. Brown, geologist, for their generous aid, and the assistance of W. H, Weijola, mine engineer in assembling some of the illustrations is deeply appreciated, The helpful suggestions of C. F. Jackson, principal mining engineer, U. S. Bureau of Mines, are gratefully acknowledged.

Jan 1, 1932

By M. Kawahata

Methane sensors using principle of catalytic oxidation of methane are employed for determination of methane content in ambient air of coal mines. Certain foreign gases or vapors in the air poison the catalyst of the sensor effecting the sensor's response. After literature search of poison compounds of Pt and Pd oxidation catalyst, experimental studies of catalyst poison kinetics were made for three siloxane compounds, tributyl-phosphate, monobromotrifluoromethane, and hydrogen sulfide, selected as poison vapors. Concentration range of the poison vapors was varied in a range from 3000 to 0.1 ppb (v/v). Three siloxane vapors produced strong catalyst poison effect, followed by tributylphosphate, hydrogen sulfide and monobromotrifluoromethane for the high concentration level of the poison vapors. The poison effects are influenced significantly by concentration of the vapors. Threshold poison vapor concentrations where effect of the poison vapors on the sensor is minimal were determined experimentally. Experimental studies were made further for prevention method of catalyst poison by adsorption techniques. Use of activated carbon cloth inserted on the sensor's head prevented catalyst poisoning efficiently.

Jan 1, 1981

By E. R. Maize

[he scconG rcport of :his st?rI.org 8cdt with o3servatioi:s of conver- gence of roof an4 floor at t!x*re: ?.cc.-.tioris iri til~ ClVucible mine of kke Cru- cib1.o Fuel Co. Data on sl:'ociacnce ?.rd Lztcrcl mwe:~cnt cf the surface were .:lven for two of these areas, a-12 it was mentioned that ~lr~~ilar data were being obtained on a ?art of Pe:sc:rlvtzr.ia Fii~l?trr.y FE:, ~i!lic;l pcser: over the third area. 'I'hie hichw~ :LEO FasseE over t!lc ITenncoli::. :.line of the Bnckeye Coal Co. 9 milcs to ';he so-lth, cnd at P. l~tcr C'..att: ~.nr?r.,cc?r:cntS *.rere mnd.e to make similar observati on3 there. This y: pr mrnmri:.c n Czto obtnino? at those two locetionn,]

Jan 1, 1941

By A. M. Gaudin

A study of the consumption of reagents used in flotation gives useful data as to the market which employment of the flotation process creates for the manufacturers of the necessary chemicals and oils, and furnishes a useful clue to the trends in flotation practice influencing the choice of reagents used and the' extent to which new reagents are displacing less suitable older reagents. In the present investigation an attempt has been made to cover both of these phases of the consumption of reagents in flotation. Unfortunately, however, the data collected in tie various districts have not been equally informative; some operators have reported very completely both the consumption of reagents and the metallurgical results obtained therewith, while others were apparently unable to supply these figures in sufficient detail to meet the requirements of this investigation. RESULTS OF INVESTIGATION Table 1 gives the tonnage of ore treated by flotation, as reported. This table shows that flotation has been most largely used in the concentration of copper ores, next in complex lead-zinc ores, followed by lead ores, zinc ores, miscellaneous ores, and copper-iron ores.

Jan 1, 1929

By Lloyd A. Morley

The primary goal of this research report is to discuss safety considerations involved in the use of lead-acid batteries for traction purposes in underground coal mines. In order to arrive at the objective, the topic of battery safety has been divided into two specific areas. The first deals with the fact that batteries emit hydrogen gas during and after the charge cycle. Hydrogen gas can be the source of dangerous explosions or mine fires. The second major topic deals with the electrical nature of the battery and battery-charging systems, which also provides a source of mine fires as well as electrocution hazards. In addition to the discussion on battery safety, a literature review has been undertaken to acquaint the reader with some basic concepts inherent to the battery usage process. The result of this research is a set of design specifications and procedural recommendations directed at improving the safety factors inherent in any underground battery usage scheme.

Jan 1, 1977

LIST OF THE MEETINGS OF THE INSTITUTE AND THEIR LOCALITIES FROM ITS ORGANIZATION Transactions Number Place Date Vol Page 1 Wilkes-Barre, Pa May, ?71 1 3 2 Bethlehem, Pa August, ?71 1 10 3 Troy, N Y November, ?71 1 13 4 Philadelphia, Pa February, ?72 1 17 5 New York, N Y May, ?72 1 20 6 Pittsburg, Pa October, ?72 1 25 7 Boston, Mass February, ?73 1 28 8 Philadelphia, Pa May, ?73 2 3 9 Easton, Pa October, ?73 2 7 10 New York, N Y February, ?74 211 11 St Louis, Mo May, ?74 3 3 12 Hazleton, Pa October, ?74 3 8 13 New Haven, Conn February, ?75 3 15 14 Dover, N J May, ?75 4 3 15 Cleveland, 0 October, ?75 4 9 16 Washington, D C February, ?76 4 18 17 Philadelphia, Pat June, ?76, 5 3 18 Philadelphia, Pa October, ?76 5 9 19 New York, N Y February, ?77 5 27 20 Wilkes-Barre, Pa May, ?77 6 3 21 Amenia, N Y October, ?77 6 10 22 Philadelphia, Pa. May, ?78 6 18 23 Chattanooga, Tenn May ?78 7 3 24 Lake George, N.Y. Oct. ?78 7 25 Baltimore, Md. Feb. ?79 7 26 Pittsburgh Pa, May ?79 8 27 Montreal, Canada Sept, ?79 8 28 New York, N.Y. Feb, ?80 9 29 Lake Superior, Mich Aug, ?80 9 30 Philadelphia, Pa. Feb, 81 9 31 Staunton, Va May, 81 10 32 Harrisburg, Pa Feb, 81 10

Jan 1, 1952

By D. Scott Scovira, Thomas Gustavsson

Exiting WW2, the potential of nitrates and hydrogen peroxide for application as industrial explosives both became known. The technology stream advanced the development and uptake of nitrate-based explosives to the point that they are the current global standard for blasting. Recently environmental issues are influencing the strategic agenda of extractive industries. The mid-2010s saw renewed interest in hydrogen peroxide explosives to eliminate NOx fume. Carbon reduction initiatives in the 2020s provided additional impetus to investigate hydrogen peroxide-based explosives. Hypex Bio is at the forefront of developing and delivering bulk gas sensitized Hydrogen Peroxide Emulsion (HPE) for blasting. HPE consists of hydrogen peroxide along with smaller amounts of fuel and emulsifier. The consistency of HPE is similar to industry- standard nitrate-based emulsions. It is compatible with existing priming and initiation systems. HPE does not contain nitrates and thereby does not produce post blast nitrous oxide fumes nor discharge of nitrates or ammonia to mine water. Importantly, HPE contributes to reduction in total carbon emissions as compared to nitrate-based explosives.

Feb 1, 2025

By N Eriksson

BolidenÆs Aitik mine, located 100 km north of the Arctic Circle in northern Sweden, is one of EuropeÆs largest copper mines. This operation produces 18 Mt of ore per year and 99 per cent of this tonnage needs to be deposited as tailings. The tailings pond currently covers 1140 ha but at closure it will hold around 760 Mt of tailings and occupy an area of 1400 ha. The tailings contain less than one per cent sulfur and only 0.03 per cent copper. The carbonate content is as low as 0.25 per cent but silicates, with substantial accumulated buffering and metal adsorption capacity, are abundant. A programme of comprehensive material characterisation and investigations has been undertaken in order to design a decommissioning strategy that meets the regulatory requirements and secures long-term physical and chemical stability of the deposited tailings. The main concern has been the potential generation of acid rock drainage (ARD). Standard tests using acid base accounting (ABA) and humidity cell tests during 15 weeks were not conclusive regarding the ARD generation potential. The accuracy of the results was considered to be unsatisfactory, therefore the humidity cell tests were gradually extended in time. In total, almost four years of humidity cell tests were conducted on various sets of samples which were selected in order to cover the variation in sulfide content existing on site and in various points of the milling process. The laboratory results were subject to detailed geochemical evaluation in order to fully understand the interaction between acid-producing reactions, driven by weathering of sulfides, and acid-consuming reactions by dissolution of carbonates and alumino-silicates. The laboratory tests were followed by both pilot tests and field measurements in order to estimate the scale dependency between the laboratory and the field results. It was found that sulfide weathering rates in the field were considerably lower than those measured in the laboratory. However, it could not be verified that the tailings top layer would maintain a neutral pH in the long term even under field conditions. Thus, a reviewed tailings management plan, including de-pyritisation of the tailings during the last years of operation, is considered.

Jan 1, 2003

By W. D. Ryan

The organic act passed by Congress in 1910 instituting the Bureau of Mines provided that the director of the bureau should promulgate such investigations as might be necessary to determine the causes of mine accidents and the best methods of preventing them. With the object of accident prevention in view, Director Joseph A. Holmes, and others who were pioneers in the bureau, conceived the Plan of having first-aid and mine-rescue training as one of the major activities of the Bureau. Out of this plan grew the first-aid and mine-rescue contests, which have been featured as an incentive for men to take courses in this type of mine safety training. The first appropriation for mine-accident investigations became available on July 1, 1908, under the jurisdiction of the U. S. Geological Survey, with Dr. J. A. Holmes in active charge. During 1908 there had been some first-aid training in the Pennsylvania anthracite field and a start made in Illinois, although there appears to be no exact information as to when or where first-aid training in the mining industry first became a reality, it is generally conceded that the St. John's ambulance corps of Scotland was one of the first - if not the first - to make the work effective. In 1911, to celebrate the establishment of the Bureau of Mines and the formal opening of the Pittsburgh, Pa., station, a first-aid and mine-rescue demonstration was conducted on Forbes Field, Pittsburgh. President William Howard Taft and many other men notable in public life were 2 resent. This was the first general national contest of the kind held it the United States; and since then there have been a number of nation-wide first-aid and mine rescue contests, as well as some which have been international in scope. There are over one hundred first-aid and mine-rescue contests of various kinds held annually in connection with mining and the allied industries.

Jan 1, 1929

By Ray Mason, Damien Label, Howard Bernier, Kevin McDermott, Kevin Coombs

"GeneralWabush Mines is an unincorporated joint venture of seven steel companies and Pickands Mather & Co. The mining and concentrating facilities are located in southwestern Labrador and the pelletizing and shiploading facilities are at Pointe Noire, 200 miles south, near the town of Sept-lies.The operation is based on a 5 ½ sq. mi. specular hematite deposit with a reserve of 375 million tons of concentrate. Annual production capacity is rated at 6 million tons of pellets per year. The final upgrading process utilizes high-tension separation of silica following wet autogenous grinding, spiral gravity separation and fluo-solids drying. The concentrate is railed in closed cars to Pointe Noire. The concentrate is reground dry and pelletized on Dravo Lurgi travelling grate machines to produce an oxide pellet with 65.5% Fe, 3.0% Si02, 1.95% Mn and 93.5% Tumble Index.HistoryPlant operations commenced in 1965 with a concentrator capacity of 5.3 million tons per year and a pelletizing capacity of 4.8 million tons per year. The original facilities for classifying the crude ore into fine and coarse fractions for storage purposes before reblending as autogenous mill feed were found to be unnecessary and were by-passed after plant startup. Capacity of the operation was increased to 6.0 million tons of pellets per year in 1968. This increased capacity required the installation of an additional160 cleaner spirals in the ore dressing plant, a new 5000 hp ball mill, three balling circuits and increased cooling air capacity in the pellet plant.In 1970, the regrind circuit in the pellet plant was converted to dry grinding and a significant reduction in grinding media consumption and maintenance costs was realized. A ninth grinding mill of 5000 hp capacity was installed to compensate for the reduced capacity in going from wet to dry grinding."

Jan 1, 2000

The nation of Fiji is located the South Pacific on the æRim of FireÆ some four hours flying time from the eastern sea board of Australia. It is a tourist destination situated on the main route from Australia to the Americas. Fiji is a developing country that has had a fewsetbacks but the country has able, happy people that are very resilient. Most importantly, the country is a safe destination for tourists and businesspeople as the local people are friendly, have good ethics, and most speak English. Fiji is a very willing nation, hungry for knowledge and advancement. The Fiji geological setting on the æRim of FireÆ, that runs from New Zealand across the Pacific through Fiji and on to Papua NewGuinea, has many large deposits of gold and copper. Fiji is an exciting destination for mineral explorers with discoveries of gold, silver, manganese, bauxite, iron and copper. Gold was first discovered in 1921 and the first two mines opened in 1935; one of which was Emperor Gold Mining Company (EGM) the other being Mt Kasi. EGM mines gold on the margin of the Tavua caldera, some 85 km north of the Nadi international airport. EGM has operated continuously for close to 70 years, producing approximately 6.9 million ounces of gold and has an underground reserve of 847 600 ounces with a total mineral resource of 12 335 600 tonnes at 10 g/t (as given in the Emperor Mines Limited Annual report 2003). The mineralisation in Fiji is very exciting and it is common to discover spectacular intersections and outcrops, which are typical for this type of epithermal narrow vein mineralisation, but be aware that the orebodies are variable and not easy to understand.

Jan 1, 2004

By Harold M. Smith

[Important discoveries of new oil fields were made in 1937 in the State of Illinois. Oil production, which was virtually constant during 1934, 1935, and 1936 at about 4,400,000 barrels a year, a increased to 7,499,000, barrels during 1937, and in 1938 this production was trebled. In 1939, 94,302,0003/ barrels were produced (almost foot times the 1938 quantity), making Illinois one of the cost important oil-producing areas in the United States. The Bureau of Mines has analyzed 35 samples of petroleum from these new Illinois fields and presents the analyses herein. Included with them in this report are analyses of seven samples from fields developed before 1936.]

Jan 1, 1940

By Bush P. R, Hale M, Dixon C. J, Wheatley M. R

Barium anomalies in drainage sediments can act as indicators of barite mineralization and path- finders for lead-zinc mineralization. Their detection in an arid climate has been investigated in two areas of Saudi Arabia. At Rabigh, 150 km north of Jeddah, barium anomalies found in wadi sediments reflect barite veins which occupy Tertiary faults in Precambrian metavolcanics and granodiorite. In the Wadi ad Dawasir area, 650 km east of Jeddah, the sediments of wadis draining the Jabal Tuwayq escarpment have been found to contain anomalous concentrations of barium derived from diagenetic barite in the Sudair formation siltstones and shales. Barium dispersion in these wadis is predominantly clastic. Near to the source rocks, barium occurs in relatively coarse grains of barite. Owing to the three well-developed cleavages of barite, its crystals readily break into cleavage flakes during fluvial transport in flash floods; as a result, the longest anomalous dispersion trains are found in the 250 to 600 um fraction. Wadi sediments finer than 250 um have relatively constant and low barium contents, being dominantly composed of windblown sand.

Jan 1, 1988

By B Yang, S M. Aminossadati

Transporting coal by means of conveyor belts is very common in Australian underground coal mines. Major conveyor belt-related mining incidents are now relatively infrequent as a result of recent improvements in engineering standards and use of fire-resistance materials. However, conveyor belts have the potential for incidents capable of causing either personal or structural damage. In addition, any unexpected break down of rolling components or failure of belts creates a significant interruption to the production that is a major concern for operators whose responsibility is to achieve the optimum mining production.Currently, underground coal conveyor belts are examined for the presence of any overheating, smouldering or unsafe conditions likely to cause a fire. Periodic inspection of operating conveyor belts is carried out with the aim of detecting any local heat sources in an early stage. This includes temperature measurements of the driving head, idlers and rollers using hand-held temperature sensors such as infrared cameras or laser temperature sensors. The disadvantages of current conveyor belt temperature monitoring systems include high labour and equipment costs, safety risk to personnel who are in close proximity to moving conveyors, the ability to take line of site measurements only and potential for missed overheated idlers. Some of the conveyor idlers in underground coal operations cannot be accessed for traditional temperature measurements. This introduces a significant risk to the operation of critical infrastructure.A distributed temperature sensing (DTS) system can be used to develop an advanced conveyor belt temperature monitoring system that provides real-time, accurate and continuous temperature measurements along a conveyor belt particularly at the rolling components. The DTS system comprises of fibre optic detection cable, DTS controller and interfacing module. The advantages of the system include the accuracy, low-cost, easy installation, robustness, safety, immunity to radio frequency and electromagnetic interference, real-time data collection, and secure data transmission. This paper presents a scoping study on the development and utilisation of a fibre optic-based DTS system for underground coal conveyor belts. The mechanism of heat generation, the operation temperature range and the installation issues of fibre optic cable along the conveyor belt particularly in close proximity to each end of the spindle on every idler will be discussed.CITATION:Aminossadati, S M and Yang, B, 2013. A scoping study on fibre optic-based temperature monitoring of underground coal conveyor belts, in Proceedings The Australian Mine Ventilation Conference , pp 35-42 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

By Gilberson Mendonça Storck de Melo

O desenvolvimento de placas de aços API necessita de preparação adequada das etapas produtivas na aciaria, de maneira a garantir tanto o atendimento aos requisitos do cliente que irá laminá-las, como as condições da última edição da norma API 5L. Este trabalho contém as premissas e as ações tomadas para o desenvolvimento do processo, desde o vazamento até o processo de lingotamento, sempre com foco na qualidade da placa lingotada. Finalmente, serão mostrados os resultados de desempenho das placas, submetidas às premissas e condições de desenvolvimento, nos laminadores dos clientes.

Aug 8, 2018

By Steve Kral

In recent years, junior mining companies, mostly listed in Canada, have taken a beating in the finance markets. Simply put, potential investors have been leery of sinking millions into exploration and mining projects due to volatile commodities prices and an uncertain regulatory climate in developed and developing countries. The 2014 edition of the Prospectors and Developers Association of Canada (PDAC), however, seemed to be a bit different for some juniors. Equity valuations have improved and metals prices appear to be stabilizing. So, for some of the stronger junior companies, there is some hope. Merger and acquisition (M&A) activity is picking up and, believe it or not, companies are raising some capital. Billed as the largest annual mining meeting in North America, the PDAC conference attracted more than 25,000 mining and exploration professionals from around the world. Organizers were anticipating attendance to break the 30,000 mark. But, given the state of the exploration end of the mining business, 25,000 is still a respectable number. Junior companies that are in the project feasibility stage, or have made promising discoveries that stand a good chance of proceeding to production, are being looked at by potential investors. Those are the survivors of the last three years of dismal M&A activity. On the other side are the juniors that are still around ? and there are plenty of juniors that were at the PDAC last year but have since disappeared ? but have little or no working capital. One analyst calculated that there are about 850 companies with less than $200,000 in working capital and about 600 with negative working capital. This will likely result in fewer junior mining and exploration companies as the year progresses but the ones that remain should be stronger.