depends how much long this bear market in gold small caps last, wasn't that many years ago, you would see an explorer like MM8 trade at <$10mil MC.
during a proper gold bull market in small caps, explorers that yield thick intercepts, something headline pumping like 150m @ 1.8g/t (irrespective of the correlation of the hit vs orebody - market doesn't care) it is those kind of stocks that run the hardest.
all small caps will run in a bull market, it's those with the biggest hits that will multibag the fastest
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-67
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