another bargain buy.

Not only has the bear stolen the honey out of the honey pot, he has stolen the ability of investors to think clearly and logically.
When you consider the titonomagnetite resources at Balla Balla which I believe to be in the vicinity of 500 MT and the price of the shares currently selling at 25 cents, it bears no correlation to what I believe the share price should be at the moment.
When you consider the Company has cash reserves of $36m as at 19th Sept, and in ground reserves valued at $150 M conservatively, thus overall realisable assets of say $180m. With 201m ordinary shares including axog, the shares should be worth a minimum of 90 cents per share.
This price should be considered what the Company would be worth upon realisation, can someone logically explain why shareholders would sell under this price.
I realize you could find fault with my reasoning or valuation methods but it would be somewhere close to the mark, after not allowing any value for the phosphate in my calculations.
I would appreciate your comments, after all I am like most of you a student of the game seeking to expand my knowledge of share trading.