its never about a specific event - and stock pops around an...

its never about a specific event - and stock pops around an event are 95% sugary and non lasting

but a broad framework of consistent outreach makes big differences to lt outcomes. a challenge is small cap stocks often dont have funding certainty - though thats not bml's issue.

if you have a look at say MTA.TSXV - that stock sustainably re-rated 2x over peer royalty co's on p/NAV basis. why - because the ceo understands investors and works to meet their needs - because he was one for a long time.

you have to have the proposition to do it with ofc. there has to be a unique selling proposition - if it just looks drab avg the best efforts generally wont move the needle

even with all that going - a bear market still means stock price falls back. just does it from a higher place into a deeper more persistent buying base

which is why leaders stay leaders and laggards typically get increasingly sub optimal shareholder returns over time - because there's constant dilution in any mining company or pre-cashflow stock life cycle

but its an invisible opportunity cost day to day, only becomes visible in a very long term chart comparing peers over time.

its why nst chart looks the way it does.