After a bit of thought - it seems like Elmer is quite oblivious to the frustrations of the shareholders.  I wonder if it is a case of not seeing the forest for all the trees?  

He keeps being "pleased" with how things are going.  If shareholders have the wrong expectations, doesn't the management have a responsiblity to try to set expectations properly?  If the PEA wasn't for purpose of looking to sell it then what it for?  He could have acknowledge some of the frustations by stating something like "It has been long wait but we have turned the corner".  

Anyways, excellent questions.   Share price is up, I wonder if the low has been put in?