RE:RE:RE:Happy Thanksgiving ! Couldn't agree more that individual circumstances are always a critical factor in making buying and selling decisions.
Bre-X shook up the whole exploration business for sure - putting high risk exploration assets in a separate lane from established development and working mine properties. It may end up being the long term catalyst for some higher metals prices as old mines are depleting and losing grade perhaps faster than productivity gains by better technology and extraction methods. The major mining companies just don't invest in much greenfields exploration anymore. That could put some pressure on metals prices, particularly the exotics, but also copper, nickel, moly, zinc ...
Yes, I have a few scars from a long interest in the junior miners - some massive wins and some complete blow outs and everything in between. The whole sector is swimming against the current of global economics right now, but it will change. When speculators think there is a momentum play in the junior miners they catch fire as a group and it will happen again. If you can accumulate quality positions at low cost and sit on them it's only a matter of time.
This is an unusual one for me because I generally don't much care for exploration or drill plays when there is almost always a period post-discovery and proof of deposit before a PEA when hot money sells out and great properties get discounted out of impatience. Those are the ones I like, where you have a lot of data and analysis and the market is snoozing.
Here, it's all about the assays coming and how big the mineralized zones will be. And a pretty paltry market cap to sit in in the meantime. Could be fun and profitable ... or not. We'll see.
cg