Since the GFC, a lot of the small to mid tier base metal miners...

Since the GFC, a lot of the small to mid tier base metal miners have never reached the heights they were before the GFC. This is due to a number of reasons.
a) sale of assets
b) capital raisings
c) commodity prices not where they were
d) costs of production are now higher

If you look at PNA, OZL, KZL, PDN, PAN, WSA, IGO they have all suffered the same sp fate.

Will it turn around and will the sp reach Pre GFC heights again?

That is a tough question to answer. Bringing on small high C1 cash cost projects, IMO, will not do it. Most of these companies do not have the cash to bring on a company transforming project. They will probably have to JV and they will not be the ones with the negotiating power. So, if I had to be honest, I would have to answer the question as "NO".

HT1