Mike Alkin podcast, page-23

The key and challenge for a cyclical junior miner is to minimise dilution in the harder times, so that the register isn't bloated and impedes share price movement, once the party starts.

So sitting and waiting is one thing but what happens in the interim is actually critical in allowing/capping upside in the future.

Having high corporate costs and an expensive side project is all well and good if you have the corporate relationships and clout to ensure the share price is ticking up. If you don't/can't, it's just one down round after the next, lots of dilution and less gains as the uranium cycle progresses.

You can't make the market love a project at various stages of a commodity cycle. What you can do is prudently manage the company's finances and capital structure, until the suitors do arrive.