The consolidation itself does not affect the market cap (and the...

The consolidation itself does not affect the market cap (and the market cap fell over time, to drive the SP down).

The SP fall would mainly be because of the downgrade at RPM.

But thankfully it's been recovering somewhat lately, expanding in the North Uphill direction.

So people no longer have to think "we had a big surprise downgrade, due to overestimated inferred. What if there's another downgrade?!".

At least, I think we're due for an upgrade in the coming MRE.

• North is expanding uphill.
• South is cutting back on 1 side, and expanding on the other side (downhill), maybe a small expansion overall.
• Valley already had a generous inferred resource from just 2 holes - but from what I can tell, the drill results we got should lead to this model expanding (but remaining mainly as inferred).

So we're back on track to growing and improving (even if from a lower base than when RPM was at it's peak overestimated numbers).

So people might have been imagining $2 based on RPM's strong numbers. Though people making SP predictions are rarely right.