this price is obscene

I can't believe the shareprice of this stock! Proven resources, experienced management, joint venture with the world's leading Uranium producer, mining ban in WA now lifted. I can't help but see this either taking off or being taken over incredibly cheaply by Cameco (or another larger fish). Interest in the sector seems to have wained and UTO has drifted down on incredibly light volumes. I've been buying more at these ridiculously low levels (market cap of less than 5mil now!). Interested in people's thoughts as to why you wouldn't buy into this stock.
Disc - I am not a financial advisor - do your own research.