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“There are literally thousands of mineral exploration companies, and MOST of them will never discover anything. The money these companies raise in the market will be poured into the ground, and chances are that it won’t ever do any good. This is what makes identifying companies likely to make a significant discovery so difficult—and therefore so enormously profitable when you do. When an exploration company goes from having nothing to having proven and probable mining reserves of calculable value, share prices can go through the roof… pennies turn into dollars… and dollars into fortunes.”

http://www.caseyresearch.com/articles/aye-me-heartieswhy-theres-still-old-fashioned-treasure-out-there