The thing I like about this stock the most, is we must be...

The thing I like about this stock the most, is we must be getting close to realising we have bought into an undervalued physical asset, unlike most exploration stocks that are priced on hope.

$13 million market cap
$ 2 million in cash
$11 million project value

$11 million = 8.34% of the insitu metal value of the current inferred resource

As this resource evolves such that:
1)It increases in size
2)Includes an indicated & measured category
3)Approaches or exceeds the Companys base line objectie of 10million ounces

....then you can expect the market cap/insitu metal value ratio to increase substantialy in %

In a nutshell I would expect the price of this stock to increase by at least a factor of any substantial resource increase in the short term and commence a further appreciation as this ratio improves with an expectancy that the resource is to be mined.

IMO
DYOR