The Life Of Mine or LOM chart explains why Regency Silver is focusing on the discovery stage of mineral exploration.

• From discovery to production usually takes between 5-7 years. During those years the price of a stock can languish. Mexico is a mining-friendly jurisdiction and even there it could take a few years to get from discovery to production. 
   
• Regency Silver’s strategy is to find interesting prospects, drill them, and secure a NI 43-101 resource report so that these projects can become interesting takeover candidates filling the pipeline of the mid and large tier mining companies. The ability to work year round in Mexico will help accelerate the exploration phase.
   
• Regency Silver hopes to lower its risk profile by focusing on making new discoveries and thereby bypassing the longer time frame of the development and production phases. The share price achieved at the first phase in the LOM chart will often only be achieved again later in the production phase. Following this strategy Regency Silver plans to achieve a much quicker return on investment for its shareholders. This should free up capital in order to hopefully repeat the cycle of discovery. On the other hand if building a mine is the best way to add shareholder value, management has the experience and skill to finance and build a mine.