Why Junior Miners Are Not Economic Saviours of First Nations

as the italians say, cui bono, who benefits? Our story below reveals a junior with 5 full time workers. Where are all those jobs the industry is touting? You can see the advantage in communities taking some shares in early exploration agreements. Is this what they mean by mining the market?

"Over nine months, shares of Uranerz Energy, a uranium company with offices in Casper, Wyo. and Vancouver, B.C., have gone up 283% to a recent $5.10, producing a $222 million market cap. Since its founding in 1999 as Carleton Ventures, the firm hasn't sold any minerals or generated any revenue. In 2005 it took its present name, once used by a European exploration outfit. Uranerz says it is pursuing mining opportunities in Canada, Wyoming and Mongolia, but the firm might be stretched a bit thin; only five full-time workers are on the payroll. Boss Glenn Catchpole says he hopes to begin production by late 2010. Uranerz states in fresh filings that it "has not presently determined" if anything it has is "economically recoverable." --William P. Barrett