Yeah, I know everyone just wants the SP to go up.. but there is...

Yeah, I know everyone just wants the SP to go up.. but there is always going to be volatility even more so in the early stages and when the resource/business model takes time for the market to digest. When it runs hard as the penny starts to drop for the market, the inevitable pull backs are painful but you have to expect moves up and down along the way. What really matters (as a long investor) is where it ends up in the long run. Anyone with a smaller parcel is welcome to trade these moves along the way, but personally I find trying to get in/out with a larger holding to be a challenge at best and a quite sub-optimal outcome at worst. Each to their own though.

"Will it be reflected in the S.P. ?" - I have no idea what the SP will do today. I would add that I believe the SP has not yet ever really reflected the underlying value of ADN, but in due course as the fundamentals sink in and the company continue to deliver project milestones I have little doubt the SP will reflect it eventually.