I like to tell this story, it sums up the psyche of larger...

I like to tell this story, it sums up the psyche of larger brokers and institutions. My first large successful investment was in a company called Oxiana (OXR). It was a mining explorer. The management had a top notch pedigree, the main driver of the company Owen Hegarty had previously worked in top management positions at RIO. RIO sold this ground in Laos to OXR. Why? Because they considered it too small and no international company had ever successfully mined there before. Small for RIO can be company-making for most others. Anyhow they did everything by the book and were hitting great exploration grades. They went from 6c to 20c+ and anyone who followed the story could see it wasn't on hype, it was on the building potential being proven by results and always meeting their timelines and targets (rare). One would have thought at this time that the greater community might be waking up to this so I asked a friend of mine who at the time was an analyst at JB Were what he thought of it. His reply was Oxiana who? He looked into it and decided that it wasn't investment grade material at that point in time. Well 12 months later Oxiana poured their first gold, even then these brokers will still not too interested but by the time they saw the massive profits being produced, OXR was $1.50+ and within another 2 years was $3+ and then were taken over (merger).

The moral really is that many brokers and instos wait for proof of revenues before they bite the bullet. They don't have a choice because there are MANY companies that still fail at this point and they can't afford to risk investments before this point of time. They don't care that they miss out on the early profits, if they can $3 from $1.50 within 2 years they are extremely happy.

So if you're scratching your heads as to why instos aren't climbing over each other to get a finger in the pie at this point in time, hopefully my anecdotal story makes it a bit clearer for you.