The oxide recoveries are around 40% combine that with say a 1.5...

The oxide recoveries are around 40% combine that with say a 1.5 gram a tonne PGM value and guessing the suite of PGMs average around US$1200 an oz , so from a cursary drive by I can see why it would not attract a lot of interest .
Also there is tie up with another company owning the oxides , which leaves pod with the higher recoverable sulphides but they are going to require a higher strip ratio to recover .

Also the company has around 70M options at around an exercise price around $0.20 , so that has to be taken into account

all IMHO