By quality stocks I mean ones that are either making money or...

By quality stocks I mean ones that are either making money or cashed up to make money and have a resource. A cashed up explorer with already good drill results and aggressive drilling campaign are ok as well IMO.

You don't want an explorer with no money and a greenfields project IMO.

Explorers going into fully funded production are ideal. Or ones with JV on the horizon. Basically money and resource (or very good drill results) needs to there to make more money so it's worth sitting on. And obviously knowing when to fold if the story changes is pivotal.