Mining approval is one thing, commencing production is another....

Mining approval is one thing, commencing production is another. The period in between has an element of risk and that is factored into the share price. As each month goes by, that element of risk is reduced marginally, and as cortona get's closer to production, the share price will reflect this.

Gold stocks retain an element of risk, some more than others. Have look at how View Resources handled bronzewing, and Navigator - the new owners, whom I would say won't be getting a glowing endorsement of their management of bronzewing anytime soon.