Just a few observations. I think this deal is still being digested. There are still some unknowns here.

How much dilution will occur as this plays out?

What if any effect will the gold sale law have?

Will the permit actually be issued? Logic says that Hugo will not screw China but you never know.

Will the shareholders approve this?

I think these questions loom so there are still some doubts out there that are keeping the price in check. But in my opinion, it will only be short term. I expect we will linger for a while until the deal gets approved and the permit gets issued.