Well the only thing I can really think of is that the market...

Well the only thing I can really think of is that the market does not believe they will be able to fund stage 1 production through any means other than a capital raise which will cost at 29M. Doing a raise for 29M @ SP of 0.02 will be an additional 1.45B shares. This will take the total shares on issue to 2.6B (1.15B + 1.45B). If that is correct then the market values the company at 52M (2.6B *0.02), which would mean if they can obtain financing and no dilution occurs then the SP should be valued at somewhere around 0.045 (52M / 1.15B). Thoughts?. Obviously just a quick back of envelope calc