i spoke to frank today, page-4

Whether the SP is absurd depends on what you are evaluating it against. Yes, against $100m pa, but against actual results to date? I have to say probably not. Maybe a little on the low side, but it may be the previous set of directors over-hyping CF a few years ago did not do the company's name any favours either. And then also the whole market is depressed. They need a project actually happening... picking up dirt and shifting it somewhere else, trucks rolling, perhaps things exploding, that sort of thing.