Looking purely at market caps for speckies is like driving a...

Looking purely at market caps for speckies is like driving a race car with one eye patch. Sure the market cap can expand multiple times. With such a large share base you don't need much SP expansion to have a large market cap. If it is bleeding cash of which 99.9% speckies do, then I see more likely a share base expansion waiting for the bad times to blow over.

This is a very good trading stock but you have to get in before it happens. It is the 'get in' and waiting which IMO is not giving the risk reward in such bad sentiment towards commodities. You just have to gauge at the number of speckie ipo that is hitting the market to know investors prefer a steady stream return by yield chasing than high risk ventures without the luxury of time. Those boom days of the economy or sentiment are over until whenever the next boom will start. It will but always a question of time.