Not at all. When it comes to explorers I am just as much a...

Not at all. When it comes to explorers I am just as much a degenrate gambler as the next hotcopper simp. But someone made a comment that they look for a moat in an explorer (and quality of hotcopper commentators which is a really strange one). I found the idea of a moat in an explorer an interesting concept so I asked the question. Its not something i had really thought about before. Can an explorer have a moat like a stock that has a brand or a monopoly or a barrier of entry that really provides an enduring competitive advantage. The responses so far have certainly not convinced me that a moat in an explorer is possible. A miner or maybe even a developer that is bottom quartile in costs, with scale and safe jurisdiction I can maybe see it. But even then they are exposed to the commodity cycles.