The roulette wheel of too many mining choices deserves a wide berth, not a spin. Did you know there are 4,000 tickers on that wheel?
An investor could spin that wheel once each minute for almost three days running and come up a winner maybe 20 times. Assuming the investor covered enough of the wheel with chips, that is.
The winnowing process has begun. Investors aren't going to be making bets on companies that only have enough cash to "keep the lights on" for a year or two. I think most shareholders would rather have their money back than see it go to paying salaries and the costs of maintaining a public listing.
One positive outcome of the great junior mining company bloodbath is that the survivors are pretty easy to spot. That makes our job much easier.