Exploration in the mining sector is the critical act of searching for resources to maintain or grow a company’s production profile. In the absence of exploration success over the next decade, the global gold production profile is expected to fall by 40-45% over the next decade. historically, the link between exploration expenditures and the rate of discovery is tenuous at best. In my opinion, the amount spent by a company in exploration is not as important as a fully-funded 5-year strategic plan.
