This part of the article fits with us

Success for the speculator therefore depends on 1) investing in management that is intelligent, honest, and financially committed and 2) properly assessing a property’s potential to host a major deposit as early as possible. The "Life cycle of a junior explorer" graph presented below (Fig. 1) illustrates the normal evolution of a successful discovery from startup to production. The time to buy is when you find the right management team exploring in the right place—at the right price, of course