Like many others I have held this stock for quiet some time.I...

Like many others I have held this stock for quiet some time.I raise the following issues to purely attempt to understand why the current share price.
Firstly. The gold price has improved over the last Q 
Secondly.Many apparent hurdles have been overcome EG Presidential Decree's and now the financial problem has recently been resolved.
My understanding being that it's all guns ablaze to bring about production yet the share price remains relatively stagnant.
I do not believe I hold unreasonable expectation's. 

My personal reasoning's.1.The pending decision to use some of the funding to obtain more acreage. 
                                        2. The announcement re the loan approval was unfortunately badly timed.(Christmas Period).  
                                        3. General market downturn.
Please not here to be shot at I'm only interested in the opinions of other holders.
The fundamentals remain the same my confidence remains the same. Truly felt with the loan approval the stock may have been re rated.
Maybe my expectations are unreasonable.
What am I missing?