googleLassonde Curve. Developing a mine doesn't always follow the same pattern, but the principle remains: one or more speculative SP run-ups, then a long wait until the substantive events that actually lead to actual mining. Some of the initial investors get fleeced because the company has no income, requiring share dilution over the years. The insiders get around this probelm by having share options. (Of course, most exploration plays never do result in a mine).