"I've lost a few shirts but the drawer isn't empty yet"

LOL That pretty well sums up my experience as well. Your three points are spot on and very concise. Someone just starting out in investing in the juniors/mining companies would be well advised to print out your post. and pin it to their wall. Could save them a lot of grief and likewise make them some money. If you are like me you probably learned those three points the hard way. Myself I had to learn them several times. Point #3 has been a bit of a siren song for me but as I get older I try to follow your point #2 and to a lesser extent point #1. But point #3 is the one that keeps it fun no doubt.

cheers

killick