Here is another chart showing the performance of a number of producers (SBM, NST, SAR, RMS) and developers (BLK, GCY). AQQ is the bottom line (purple). My, and others thinking is that as the bull market processes there will be a trickle down effert with people looking further down the development pipe-line to find value and pick the next CGY/BLK/SBM etc. Quality producers have showed the best performance in the early stages of the bull marker, developers are now enjoying their time in the sun, posting 300-400% returns and still hot, next will come the soon to be developers, like AQQ, and it will all end with the ultra speculative explorers at some point at the end of the bull run (think lithium now and companies like MOX).