As an alternative view, the stock 'mining company lifecycle graph', which I first used to educate new investment analysts maybe 35 years ago, doesn't work for many modern miners.
Like everything else, time compresses these days, making some processes hugely faster. Mind you, we also have new processes which can slow down TTL.
I guess what I'm saying is what by the 1980's book looks like orphan stage can be something way away from the playbook these days.
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