I think the market is discounting cash at the moment-
This is a $9m EV play
If it was $10m cap with $1m cash, I'm sure the punters would be flocking right in. But people look at the cap and don't understand that the coy is holding ~ $8m in cash.
Todays ann is a big move in the right direction, the assays will seal the deal for the big re rate ( if favourable ) But it's in a good position.
