Optionality plays in a PM bull market, page-3

I agree that looking for optionality plays in the speculative explorer market will likely also force the investor to weed out the management lifestyle plays.

What I would say is that with a genuine deposit, the big boy money will move into true plays. It's then likely that with their large holdings big shareholders will move to forcibly change management to a more effective group who could realise a deposit's potential with a mine.