Exploration is a numbers game. Yes. Exploration is a numbers...

Exploration is a numbers game. Yes. Exploration is a numbers game. What does this mean? It means many exploration companies fail (ie destroy shareholder value) Those that succeed, tend to multi-bag

So when smart people like Sprott, Rule & Creasy talk about exploration being a numbers game, they mean you need to spread money around lots of exploration companies because many will end up being dogs

And to state the obvious - Azure is one that ended up being a big hairy dog. I don’t reckon Creasy holds much hope of ever getting his capital back on this punt. But he’s a clever guy and no doubt accounted for the loss here in other profitable investments

I recall you were dumbfounded when Drake sold its AZS parcel to DB a few months ago at the (seemingly) bargain basement price of 13c. In retrospect though it seems they were smart to cut their losses when did!