you're dilusional if you think they don't do studies on lots of properties. Pretty small cost to do it, and now they are contractually obligated to spend $ every year. Just because they are doing some math doesn't mean they're going to proceed with a $5B mine.

What % of venture mining companies ever become a mine? I bet it's less than 1%, yet someone still makes money on their stock. My bet is not on a mine, it's that sense will return to the venture someday and our sp will reflect the potential asset. The venture can't get much worse than right now and yes in the pot of mining companies we're the cream of the crop. That has to be reflected someday.