Increasing the Odds of Exploration Success: Why the Top 5% of Junior Exploration Companies Consistently Outperform the Bottom 95%

by Gerardo Del Real
Outsider Club

It is well understood that mineral exploration is a highly risky business venture.

It is also well understood that the high risks associated with mineral exploration can bring rich rewards for companies that have exploration success.

Despite a 10-fold increase in spending on exploration over the last decade, the amount of discoveries has remained relatively flat. A combination of higher costs, declining commodity prices, and the misallocation of capital has led most of the 2,000-plus junior exploration companies to find themselves struggling to keep up with the expenses required to continue to exist.

There are, however, exceptions to the rule.

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