The future looks about badly as it ever has for junior coal and iron ore stocks. Prices are in the dumps, and investors have no interest in financing projects which are poised to get rid of money (or are already losing it).
So it’s not a huge surprise that Desjardins Securities is kicking these stocks to the curb. Analyst Jackie?Przybylowski has dropped coverage of Adriana Resources Inc., Cardero Resources Corp., Colonial Coal International Corp., Corsa Coal Corp. and New Millennium Iron Corp.
These companies all was once market darlings, but they are now small cap stocks. She asserted dropping coverage of them is an effort to “better align our coverage universe.”
Przybylowski?listed the titles of her recent research notes on these stocks. They include:
– “Financing will be required to move the project forward.”
– “The clock continues to count recorded on Cardero.”
– “Farther away than we had expected.”
Those really express it all.