groundhog , page-21

AMX is in the "orphan" phase that coincides with the commencement of feasibility studies.

Some funds/investors/companies will only invest in a stock once it has shown 100% economic viability through extensive PFS's and DFS's. Others won't invest until they can see a few positive quarterlies once production is well underway (assuming there is still some value left in the SP)

Other's with a little more insight/foresight would rather get in early while the stocks are trading at or near the bottom . These guys are using their own knowledge and experience to gauge economic viability before it is demonstrated through a study. I guess this is what Taurus are doing and are backing their own expertise/foresight with a 20% stake in AMX. No small vote of confidence really ..

With the capital markets the way they are , these orphan phases are likely being protracted until more favourable conditions return imo (see GRY). But this won't last forever. Supply,demand and the cost of mining gold, will all combine to push POG higher soon enough. This will ultimately drive M&A activity in the sector also - providing two essential ingredients needed for a sector recovery , hope and liquidity (and visability)....

Investing in early stage developer/explorers is not an exact science. You just have to buy when you see value, and eventually , your patience will be rewarded more often than not.