Talk about companies which rise to heights just to fall back...

Talk about companies which rise to heights just to fall back again is important because it happens - but there is always a reason and the market does its job in valuation. Put simply the value was not really there in the first place.

On the other hand, if an explorer really does make a major discovery (as Sandfire did with deGrussa) the value continues and the m.Cap continues to appreciate, often with accumulation of cash which is then used to found the Company into the future. (eg the junior Ramelius who walked from Wattle Dam with a cash pile of $90 mill)

Here is a comment on SFR's web page about deGrussa - it was brought to DSO production in 3.5 years (no not the 15 year timescales bandied about by the suspicious)

I will leave you to check the chart of SFR from discovery in 2009 to the present day - interesting that the value was always maintained, but does show the fluctuations of the normal commodity cycle.

DeGrussa’s History

The Journery at DeGrussa began in April of 2009 when 25-year-old geologist Margaret Hawke, lead the discovery of the DeGrussa Deposits, unearthing massive sulphide mineralisation in a region better known for its gold discoveries.

This discovery, which was one of the highest-grade copper discoveries ever seen in Australia, would propel Sandfire from a junior explorer to a successful mid-tier copper producer in less than three and half years.

Over a decade later, from the first bucket of open pit direct shipping ore to extraction of the final underground stope, DeGrussa has been a phenomenal success which has created a great deal of value and changed the lives of many people.

IMO - our projects that SUM has acquired have a great chance of being 'like a deGrussa' -- and also perhaps an order of magnitude better, or more.

I am only a mid tier investor, with ~ 1 mill in the market. But already 25% of my portfolio is SUM. (quite a bit is profit too !!)

I dont give advice - so DYOR, and note the ever present risk.