The beauty of exploration companylisted on TSX.V, is that they don't go bankrupt usually, it will go up from 16cents to $16 like what happened at GXS.V two years ago, it also can go from $2.6 to 8cents (before consolidation) like ASX.V. The beauty is that these kind of exploration companies they never broke as they can raise cash by options or PP although they never make 0 product or profits since their inceptions.
These companies are news driven and popularity driven...
It is not hard to find the stocks fit into the speculation crateria, but it is hard to hold the shares all the way up to the peak. For instance, few traders (if there is any) could hold the GXS shares he bought under 30cents and sold above $3 two years ago..., although GXS is now around $1 only, but who cares, as long as you have riden the wave and made a killing.