It's just one part of the way I look at these mining specs.
I didn't buy into the 'toe of the elephant', 'strap yourself in' BS, nor the 30cent/50cent/$1 party on dude guys. You WILL lose money if you do.
After considerable experience, one will build / accumulate the desired size position as the company progresses the project successfully, and the market will ALWAYS give you share price pull backs to do same. No decent results, then no further purchases on your starter parcels.
No substitute for reading everything you can about the company, the management (and their previous exploits ;-)), and the previous work on the area in question.
DYOR
ESR General Chat, page-84
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