what does this mean?, page-5

All - don't forget some people have been holding for a while and the SP has been obliterated over the past 18-24 months. People who are still holding may still be licking their wounds!

But don't lose sight though of why the share price was obliterated; they tried to move from being an explorer to a miner and for various reasons the effort failed miserably. They blew through a great deal of funds (placement and loans) to the end result that they nearly got to operational mine stage. With an estimated cost of extraction at about US$400/ounce, the company would be worth a great deal if they succeeded to pull 70,000 ounces out of the ground a year - especially with where gold has gone.

The company has moved on from being extremely close to being folded and now had a decent plan of attack.