Let's talk DSO, page-255

BW, exploration isn’t a sprint; it’s a marathon through uncharted terrain. It's about long-term discovery, not short-term misery. Companies like AW1 are in the business of uncovering resources that could shape the future of critical industries—not delivering instant gratification to those looking for quick flips. The road from drill bit to production is rarely smooth, but it’s the visionary investors who see the potential at the end of that journey.

Every drill hole isn’t a jackpot, and every capital raise isn’t a sign of failure—it’s part of the natural cycle of exploration. If miners were only judged on the temporary dips in share price or the occasional dry hole, we’d still be chiselling away with bronze tools. The real value comes from persistence, precision, and patience, qualities that seem a bit lost in your cloud of perpetual pessimism.

In fact, the entire premise of exploration is to discover the unknown—an inherently risky but rewarding venture. It’s not for the faint-hearted or those obsessed with daily fluctuations. This is about adding value through consistent progress, whether it’s through finding new deposits, expanding existing ones, or proving the economic viability of a project. If that requires a few capital raises to fund 22,000 metres of drilling in the Arctic, so be it. That’s how discoveries are made, not by sitting around waiting for miracles.

Investors who understand this aren’t focusing on momentary setbacks or noise from the naysayers; they’re focused on the bigger picture. AW1 has delivered significant milestones, from the calibre of its drilling results to its strategic positioning in a market hungry for copper. So, while you’re busy picking apart every detail, I’ll stay focused on the broader horizon—because the future of mining belongs to those who think big, not those who think small.

Perhaps your talent lies not in investing, but in demoting. Ever considered hosting “The Apprentice: Mining Edition”? You could dismiss projects with a dramatic “You’re drilled!” on the basis of your unique negativity metrics. That hot air could certainly fuel a spinoff series.