resource location

I have been watching KBL, and HC threads, for some time now, with a view to acquiring a significant parcel.

Of particular interest to me are:
1.) the Mineral Hill deposit, for its near term production start up;
2,) the Sorby Hills deposit, for the large silver resource;
3.) the jv with Henan Yuguang; and
4.) cash of $20m at Dec-2010.

What is perplexing is the low market cap, $60m). Is there some history with mgmt making promises and not fulfilling them? Does the location of the silver deposit in the Kimberley worry potential investors? Any help much appreciated.