Cookie comes over to Dark Side, loses friends, makes enemies

Per reader comet52, here's a link to a very illuminating editorial from Brent Cook (with interjections by Quinton Hennigh) on the state of the junior world.

Read it, it's fun.

Well, no, it's brutal and hope-killing, but read it anyway.

Basically, Cookie makes the following points:

1) The actual miners have been lulled by high metal prices to waste loads of money on idiotic things that produce no value, and are now being abandoned by serious investors;
2) The seniors made $50 billion in writeoffs in 2012, so if you're smart you really don't want to put your investment dollars in these people's hands;
3) Grade is down, costs are up, which to the average pro indicates that mining is a doomed sector that you want to completely avoid;
4) The geologist profession has gone so far downhill that 50% of what the "P.Geo" crowd produces is utterly worthless, so nobody trusts the geologists anymore;
5) So many people have been wiped out by bad investments, and so many people now know that the miners grossly underperform the metal, that there's no chance you're going to see new money enter this field for a long time.