BHP/RIO and the multi-nationals generally want high margins/...

BHP/RIO and the multi-nationals generally want high margins/ high CAPEX productions. They are looking for 'game changer' size projects. Good example recently RIO sold off a big chunk of land to CZA which was primarily thermal coal and then proceeded to bid on RIV, a HUGE coking coal resource that will require hundreds of millions in CAPEX to get up and running.

If you can fund BIG projects, there is no point wasting man power on the smaller stuff.

If you can be the one who takes the smaller stuff and produce from it, you can build a solid foundation for becoming a serious mid cap miner. You wont make 100USD a tonne OPEX like BHP will be aiming for, but you will still have solid cash flow.