B2Gold CEO Clive Johnson. Photo: Suzanne Plunkett/Bloomberg

B2Gold CEO Clive Johnson. Photo: Suzanne Plunkett/Bloomberg

Bloomberg is out with a great article this morning on the junior mining sector (Hat tip to Jon Jones @ Haywood for forwarding).

According to the article, mining acquisitions under $1 billion have slumped to an 8 year low. Additionally, there are 972 mining companies in Canada with no revenue over the past 12 months, according to data compiled by Bloomberg.

Clive Johnson's B2Gold was mentioned as one of the few companies still considering acquisitions.

Ross Beaty's Lumina Copper also received favourable coverage.

Lumina’s Taca Taca copper project in Argentina is large with relatively high ore grades and has access to infrastructure, all of which mean the junior is more likely than most to find a buyer, said Adam Low, a Toronto-based analyst at Raymond James Financial Inc.

“In all likelihood it’s only going to be the cream of the crop that will get considered seriously in the current environment,” Low said. “The other juniors might have to wait until the next cycle.”

Lukas Lundin's NGex Resources was also mentioned in the story, with CEO Wojtek Wodzicki noting that the company isn't actively looking for a buyer, but wouldn't rule out the idea either.

Read: Mining M&A Decline Imperils Explorers’ Aspirations