Ann: Gold Hedge Executed, page-22

I've often thought about the 15:1 consolidation too, @1982. Not that I think it was a mistake ( I love the tight share structure). I agree with you that some of these traders must either be arithmetically challenged, lack doing basic due diligence (such as checking # shares/MC) or maybe it's mostly dumb-ass computers trading between themselves (chasing each other's dots on screens).
Your also right about a second project setting a fire under the SP. However, I think there's going to be very few crumbs available for buyers when exciting news arrives. Consider these HYPOTHETICAL , though realistic announcements;

March 21 - SAU is pleased to announce a 1.5 cent per share dividend (unfranked). Hey it could be a lot higher, I know. Even if 10% of this figure was reinvested - that's $70000 soaking up 200 K shares (0.5% of shares on issue).
   - alternatively SAU could announce 1 cent now, and further 1 cent divvies to follow. This would grab someone's attention, I reckon. (not many shares left for sale in that offer stack already).

April 21 - SAU is pleased to announce an inferred JORC resource of XX000 ounces at Glandore having proved up historic drill holes and additional holes contributing to delineating the resource. Negotiations have commenced with WGX to develop a mine based on the Canon blueprint. Potential to add to open pit resource and further drilling requires for potential UG mine.  (this is where we go basically "no offer" - like name your price $2, $3, $4. The lack of liquidity/willing sellers could cause major pricing dislocations).

May 2  - SAU are pleased to announce 2000 meters of drilling results at Weolyu. Numerous high grade gold and silver intersections are listed in the (imaginary) table below. A further 3000 meters of drilling is immediately being undertaken. The confirmation of a  potential for Hishikari like epithermal system, even if half the grade, could blow our minds. SAU could then raise money in highly selective private placements, raising huge working capital for minimal share dilution. If this happened we would probably revert back to 10 or 15 shares, per current one. SAU would almost overnight become a big player.

I will not prognosticate anymore - I'm already getting a little carried away. And I didn't even get to Kochang Gap, ***ong or Cannon UG. Of course their will be disappointments and surprises too. At least everything is not hanging on one or two targets. 12 this year. Heaps more next year. Very few shares available if any of these targets strike a bonanza lode. Even dividends could create buyer excitement or soak up shares offered (with reinvestment funds). If this is a gamble, which of course it is, it's a gamble like having  40 out 45 lotto ping pong balls IMO.

It's also sobering to note the greater market at large is in total disagreement with me. Do your own homework and soul searching before speculating in micro cap gold stocks.