Re "explorers I look for those with moats that I think have a good chance of doubling in 1 to 2 years." my take on that is a moat is "deep and wide trench around the rampart of a fortified place (such as a castle) that is usually filled with water" in other words a safety net.
Eg if the companies mines are in an ideal proven grounds then it has a moat protection. "An economic moat is a metaphor that refers to businesses being able to maintain a competitive advantage over their competitors in order to preserve market share and profits" (Investopedia).
Thus if a miner has good cash on hand, good management and within lands with a proven history one could say the miner is surrounded by a moat.
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