Have to agree with Jeppy. There is no point getting frustrated...

Have to agree with Jeppy. There is no point getting frustrated at the market and I don't believe there is any sort of persistent price manipulation. There are other junior minors trading at a discount to cash because the institutional investment community won't buy in until they are more confident of the outlook for IO prices.

As to whether management could do more with the cash, there are many different views and no simple right or wrong answer. All shareholders, however, have benefited from management not making any ill-timed or mis-priced investments with the cash.

The key question for me is whether there are any major risks to the company that have been overlooked on this forum?