Explorers are not always the most risky mining investments. There is a fault in the often made claim that risk falls as companies move past exploration to development stage and that the riskiest possible mining investment is at the exploration end. Blackham Resources is an explorer yet to demonstrate a commercially viable resource base. Chesser Resources is far more advanced and getting ready to commit to a development plan. Today's edition of my weekly 'From the Capital' column in on-line industry publication HighGrade uses these two companies as examples to illustrate why the explorers are the most risky investments argument can be wrong. PortfolioDirect has given Blackham Resources a portfolio grade rating. Read the full HighGrade article at (VIEW LINK).