And as they grow from a one-mine exploration story to a two-mine production story, you might eventually get bought out.
FORBES: USAGX's Denbow Looks For Gold Stocks 'That Will Survive In Most Markets'
Smallwood sees more potential from the mine in terms of exploration.
The session was not completely negative for mining as Gerald Panneton, president and chief executive officer of Detour Gold, described how he and his team brought the Detour Lake gold mine in Ontario to production from an exploration project.
Exploration work at a former tin mine in Cornwall may stop because of rising costs concerns, investors say.
There is still exploration work being done in the mine and a more detailed update is expected by mid-year.
FORBES: Agnico-Eagle Begins 2012 With A Strong First-Quarter
Probable mineral reserves stand total 18 million carats with 17.5 million carats as inferred mineral resources, and 23.5 to 48.5 million carats classified as non-resource exploration upside with an initial 11 year mine life.
FORBES: Stornoway, Quebec Government Reach Agreement Over Road Construction
"This work has many real-world applications including seabed exploration, detecting leaks in oil pipelines, mine countermeasures, and improving the performance of underwater vehicles, " he said.
Only weeks earlier, a Lockheed unit in the United Kingdom was granted an exploration license by the International Seabed Authority to mine polymetallic nodules on the ocean floor between Hawaii and Mexico.
The reserve life of a typical gold mine is no more than 10 years so the reinvestment rate for exploration and incremental production is capital intensive.
The answer to that question will only come from future exploration results from Nova, the maiden resource estimate, mine-development plans due to be released later in the year, and the all-important price of nickel.
FORBES: Even Scrooge McDuck Would Be Happy with a 7000% Share Price Rise In Less Than a Year
应用推荐