This comment from MikeTrike on my Consolidation or Shakeout Post below reminded me .

“Rick Rule has talked about the 1994 bull market in juniors. I don’t think gold or the majors did much, but the gains in the microcaps were spectacular. I believe this bull market ended with the Bre-x scandal in 1997. There is a possibility we are in such a bull market today. If so, exploration stocks will be where the big money will be made! Time will tell but I don’t pay any attention to HUI or GDX/J, I think microcaps are the market to watch. I am not a Spock subscriber, but I think the majority of people will get slaughtered in this sector without some guidance and should probably subscribe to a legitimate service like Spock’s if they are going to take the plunge.”
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The Legend of Bre-X

https://goldtadise.com/?p=369632