- Finance flooding into the sector
- Questions of how long will your treasury last has become can you get more drills? How much money do you need, how quickly can you do something.
- Many stocks have moved only justified at $1500+ gold
- Majors have taken big write downs, slower to move aggressively, many established deposits are low quality and much higher prices, majors may move down the food chain for higher quality at lower price. Majors have a lot of marginal ounces they have written down, acquisition only makes sense for higher quality.
- Up cycle people want to drill. Many companies just marketing, don't want to drill just finance. Better companies want to drill and find the fatal flaw quickly, not romance the project, move on.
- Further along in the cycle, there will always be new projects and discoveries as more exploration underway.
- investors making money in the big stocks only just beginning to trickle down, the general public isn't in yet despite big moves up from extreme bear bottom.
Reference to Investec's Mining Clock