They haven't yet monetized anything and its by design imo.  Just listen to them when they talk about monetization.  Its always "Must create more value" first.  We'll guess what Elmer, absolutely no one in the world believes you are creating value, despite 13 years of efforts and our money.  Despite combined 43-101 NPVs of over a billion the market says you not worth 10 cents on that dollar.  So are you really creating value?  Are not instead diluting the F out of everyone by running PPs at the lowest price possible?  Is that creating value for shareholders? 

^^ This encapsulates the frustrating past dozen years quite accurately, golf. 

Not one of us has stuck it out this long believing that we'd still be here today. And now we're staring down a pending recession that could put us in neutral for another several years, until the next metals supercycle comes along (hopefully the next one lasts long enough for CUU to finally pull the trigger).

It irritates me to read Elmer's response to PennyFlipper's correspondence. It comes across like, "You keep asking these same pesky questions and I've told you the gameplan already." 

There's no sense of urgency whatsoever. And there's no contrition, no remorse, no acknowledgement that many shareholders are seniors who very well might not live long enough to see the fruits of their investment, no fault of their own. I suppose if they were all making $250,000 per year, they might not be so concerned. 

It's really cold and most unfortunate. There are real lives affected by the clearly ineffectual strategy that this company has adopted. The share price has reflected that for far too long.