RobYou are missing nothing.Its all a matter of market...

Rob
You are missing nothing.
Its all a matter of market sentiment.
We were over $1 not that long ago and we had nowhere near the progress we are currently sitting on.
One other thing to consider is the capital raising that will be requried to supply the equity to develop. That could put a cap on share prices.
At the end of the day we are talking about market sentiment - thats it !

"Often, the price quoted by Mr. Market seems plausible, but sometimes it is ridiculous. The investor is free to either agree with his quoted price and trade with him, or ignore him completely. Mr. Market doesn't mind this, and will be back the following day to quote another price.

The point of this anecdote is that the investor should not regard the whims of Mr. Market as a determining factor in the value of the shares the investor owns. He should profit from market folly rather than participate in it. The investor is advised to concentrate on the real life performance of his companies and receiving dividends, rather than be too concerned with Mr. Market's often irrational behavior"
Benjamin Graham