St George Mining remains one of Australia’s most exciting exploration companies with interests in nickel, copper and gold bearing deposits around Laverton and Leonora in Western Australia. A rapid succession of favourable drill results including another this week at Mt Alexander is suggestive of a nickel-copper system with development potential. The results have come with increasingly muted share price responses. St George is not alone in finding it difficult to break away from prior share price patterns. Impact Minerals is another high quality explorer to have encountered this challenge. (VIEW LINK) A loss in overall sector price momentum has contributed. The temptation to issue shares to fund further exploration also has a negative price impact. Most importantly, the price trap suggests still insufficient numbers of new investors willing to buy into the sector against a history of poor returns extending over the prior five years to sustain higher prices. The price action suggests investors should not chase rising prices but also suggests opportunities remain to take positions in well-credentialed exploration companies at a reasonable price for the risks being incurred.