i can stand corrected but in general terms smaller exploration...

i can stand corrected but in general terms smaller exploration companies have made most of the significant discoveries [not unlike bio-tech industry] which then require capital and expertise , and crucially timing , to be bought to production..the case of Ivanhoe [ OT] is exampled but in our own backyard , Lang Hancock staked the Pilbara almost 60 years ago- its only now that Gina can monetize those licenses ...
its a long and patient game that is required coupled with a 'vision' and LH had that , he just didnt live to see China and India's growth