Interesting take, and I agree with the premise. I am not so sure about this part though;

"If frank needs money there is plenty of minning firms that will put up the cash and expertise to build a mine. First thou you have to prove you got the goods."

What mining firms are spending money right now on development? Even the big boys like Rio Tinto, BHP and Vale have made major cut-back in project budgets.

Exploration is way down right now, with some company's saying their drill utilization rate for surface exploration is at 20%. That is just the first part of the cycle, first exploration is cut, then mine development.