when it comes to explorers or small miners whose main growth...

when it comes to explorers or small miners whose main growth comes from exploring then I will agree 100%. May not agree with 2-year term as, in some cases, it requires more time to make the discovery but 2-3 year term is fair.

Depending on what deposits they chase. If it's porphyry, then 3 years is more appropriate. But I agree there should be a limit.

And that is from the time they get the project to drilling stage. Give them 1 year to do preliminary exploration such as rock-licking and magnetics. And if they try to say the project is in early-stage exploration for 3-4 years and not drilling a single hole there then the whole BoDs should be fired along with the MD/CEO.
Most of these people use the companies as lifestyle vehicles.

I'd say Adam to be given 12 more months. If no promising results then bring fresh blood. And in light of scarce liquidity and lack of strong results he should either buy more MAG shares or take a pay-cut. The cow is getting very skinny now.