Know Where You Are on this Graph Unfortunately, given the high probability of failure, any investor will need to look for both a solid management team and a top-tier project. An effective management team should have excellent technical skills backed by a previous history of success, relevant experience (deposit type, jurisdiction), and capital market knowledge.
A competent technical team with no capital market experience may execute a poor financing plan or sell the project too cheaply. A capital market-heavy management team may get involved in a marginal project with no hope of ever being built or acquired. Also, a management team with minimal insider ownership that considers the company a lifestyle choice is a sign the company is best avoided.
https://www.explorationinsights.com/articles/fatal-flaws-in-the-junior-mining-sector/