speculative buy, page-9

Surely if the sp was over $2.00 before meltdown (md)and before any meaningful production then once the CDO is lifted the company must be worth $2.00 per share again not 50c or 80c or or or.
My point being that if the resource exists and is minable why would the company be valued at a lesser value that two years ago less dilution.
Somewhere there seems to have been a real mistake re the valuation of this company.
Why was this so ?
Where did the information come from to provide the basis for this valuation ?
Why is the same resource now worth less ?
If the company was never worth $ 2.00 per share why did so many punters believe that it was ?