Interesting re-reading that report. Nothing fundamentally has changed except market sentiment and sad loss of Frank. In fact gold has risen since then, so the share value could be deemed to be higher than the $2.
The company has been run very conservatively for years and this is unlikely to change.
It's a sitting duck for a takeover and when the PFS comes out there could be a sudden re-rating as they say. A buyer would wait for that.