I think, that really could be a business model going forward, these small scale, boutique production companies. You don't spend millions and millions of dollars for drilling and delineating a resource and dilute the Company into oblivion. But instead you build a small mill with low cap-ex and start producing cash flow. /// You need near surface mineralization, preferably high grade material where gold is easy to extract, ideally just by flotation (coarse, free gold), resulting in low mining costs. And with your free cash-flow you do some exploration drilling for further tonnage, find new aquisition targets and pay your loyal shareholders a nice dividend. /// That would be excellent, to find such a company, wouldn't it ? ........ But wait, here it is : Excalibur is exactly that ! And the best thing : mill 90% ready with production starting shortly. And all that for a $ 10M market cap. /// FANTOMAS