mad_scientist

It takes a mad scientist to discover a new mine, says mining legend Dave Lowell

Tonight I listed to some veterans talk mineral discovery and here are a few ideas that I learned or was reminded of.

1. No one person can claim credit for a discovery, they are usually the result of the good work of many people over decades.

2. You don't get rich by riding your desk, you have to get out in the field and work extremely hard, continuously, over long periods of time, to pursue the development of your project.

3. While the market is excited for your potential, don't get caught up in the noise. Don't expect to be sold early. Think long term.

4. "A Discovery is built, not found." Know when to double down on development, such as when your strike length is open. Never expect to be paid for potential.

5. Don't lose momentum. Communicate a bold vision and provide constant newsflow, as James Altucher taught us in his article, How I Helped Mark Cuban Make a Billion Dollars and 5 Things I Learned from Him.

If you're lucky enough to be involved in a Discovery, realize you're only half of the way there.

Use these lessons to better manage your next discovery.

That reminds me of a 6th rule: You've also gotta believe you're own BS.

Related: Mining's Greatest Explorer - Dave Lowell Interview