how come the kicking

Hi guys,
Been doing a scan and came up with IGR.

So I went to the site and lo and behold, there's a brand new presentation. So I scroll through that and I notice that, even with over a million oz JORC indicated resource, the company is still valued at only 33 mill cap.

My estimate is that, even if it had costs of around 430 per oz like SBM, the share should still be worth at least 1.00 a share.

Then I look at the chart and it's been a hideous decline for the last 6 months, and now stagnation.

So I'm thinking, it all looks good, so why the kicking from the market?

Anyone know?