MDI has a market cap of 47mill and yet they have so much to...

MDI has a market cap of 47mill and yet they have so much to offer, with this new amount of gold taking it to 730,000 oz I believe this is so cheap.
730,000x2,700 = $1,971,000 nearly 2 billion dollars of gold with todays gold prices and with a 600,000tpa CIL processing plant is set on the land already (yes it needs a little fix up) but it is still around and available.
Yeah it has 2.7b shares out but most small cap explorers do!
Alt resources had 11.55Mt @1.54g/t for 571,300oz Au with 2bill shares on offer and got a takeover bid at 5c a share yet MDI has 19,892,000 1.14g/t Au for 732,100 and is sitting at 1.8c a share and Alt was still to low of a take-over price. (alt no longer on asx)
Yes we do not want to have a takeover we want to mine ourselves but just goes to show what other companies will pay and still make money after the takeover so we should be much higher of a share price at the moment for as the directors say Explorer and near-term gold developer, Middle Island Resources Limited.
All in my own opinion. DYOR