Markets are irrational. And definately irrational in the short...

Markets are irrational. And definately irrational in the short term over the long term. Hence Buffett's quip, in the short term the market is a voting machine, while in the longterm its a weighing machine.
Just look at cryptos and their eyewatering valuations. Irrational.
As for DCN, a lot of people have been burnt. LJ needs to get the runs on the board rather than promises. The promises card was used by the old management and hence the disappointment.
Other explorers and developers can be over priced. Are their managers liars standing next to holes or will it come to furition? A lot of punters dont see the development risks, construction costs, funding, dilution of shares and other risks, hence FOMO prices on some explorers.
If we can keep on going, with little or no dilution. Get a few good quarters that reconcile to plans, we will head in the right direction.