From an overall perspective, I think the key is just to find those sectors where the underlying metal has seen extended gains but the equities are yet to wake up. The basing chart patterns on the equities in my experience are where the returns are the most explosive, provided you find one with some upcoming news flow that could warrant some FOMO. The other play to consider is the most leveraged play on the sector which essentially acts as a call option to the holder.
Of course as you know as well the bigger plays tend to lead the minnows in any of these sector wide runs.
Perfect example in my opinion is the current scenario in zinc. Look at the underlying price of zinc:
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here's the chart of one of the more advanced juniors leading the charge RVR:
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and now here are the micros..look at all these basing formations waiting to breakout (there's plenty of others too)!
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ZMI is my personal favourite. The EV is a touch over $5m. They have targets in Ireland and a nice little JORC on hand with an upgrade and drilling expected soon on the shallow resource. They've also got an option on a nearby plant that could see them in near term production on their existing JORC. So, plenty of news flow to come and an EV thats almost non-existent in a sector where the underlying metal is at the highest levels since the GFC.
The other option IMO, and one of the other zinc plays that I'm currently buying is MCT. It's capped at under $20mil with a deposit valued by Beer and Co at over $1B. The deposit is extremely deep so costs etc. are extremely high and most people wouldn't go near it for the risk, but with zinc at multi year highs and the stock at its lows you've got the risk/reward well and truly in your favour in my opinion. If the zinc equities wake up this one will no doubt outperform.
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