Yes. Junior companies are by definition companies that don't have operating mines, so they don't have cashflow. They're dependent on raising investment capital in order to finance these projects. As I think we all know, particularly in these times, investment capital can be quite jittery, so time slippage or an uncertain regulatory environment can seriously impact the ability of junior mining companies to raise capital and then to continue to advance a project.
I can give you examples of where junior mining companies ultimately have to sell in order to have their project completed because they simply run out of time and resources.