This is true. I guess it's a bit chicken and egg. To use...

This is true. I guess it's a bit chicken and egg. To use your example, had AP waited until todays gold prices to develop Mulgabbie we'd have half the value we do now, but he motored through the crappy sentiment and now is ready to capitalise on a scoping study and potentially sell into this bull market.

I guess my point is it's dangerous to try and play the market, focus on what's in the ground and if it's good then you'll be rewarded long term even if you have to cop dilution in the near term.

but you're right inevitably it is all timing