Fidosnos, I think what he means by 'lifestyle exploration companies' is companies which never intend on really pulling anything out of the ground. They exist to raise capital, and put it into their own pockets. Pretty rare for shareholders to object to what directors pay to themselves.
Make no mistake, there are plenty of crooks who run companies. If you follow the market for long enough, particularly the smaller end explorers, you'll see the same director names come up over and over again.
pre nr - it's coming, page-68
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