Released in October, the ninth series of the junior miner report, entitled "Time for Change", said that the top 100 juniors listed on Canada's Toronto Venture Exchange (TSX-V) raised Canadian dollar (C$) 515m ($395m*) in equity financing in 2015, down 25% from last year, while debt financing fell 27% to C$278m over the same period.
The report also encouraged miners to "do whatever it takes to find the cash to keep going". It said that many juniors were looking at non-traditional financing, where they diversified capital through loans and pursued a syndicate of backers which could help them accumulate the finances needed to move forward on acquisitions or other investments. PwC noted that some exploration companies were literally buying the cash they needed, by acquiring other companies
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