I'm actually not too unhappy about PB's performance. Unlike many...

I'm actually not too unhappy about PB's performance. Unlike many other juniors and emerging producers, TNG is reasonably well cashed up, and won't face a serious liquidity crisis anytime soon. Cash is king, now. On the other hand, expecting a slow down in activities, TNG may indeed consider immediately laying off staff and expensive consultants, as well as reducing management pay to reflect the reduced workload.

Compared to the fundamentals (TIVAN, SMS, KfW, FEED, no need to raise capital at the present, depressed price) the stock is clearly undervalued. That's Mr. Market at work. Not much, PB can do about it.