I belive you are correct, HOWEVER the .53 was for a flowthough.

If it's a quebec flowthrough they probbaly got a 150% tax writeoff. So it should trade bellow that.

I think the 43 cent one is more indicative of the general stock

*edit*

Sorry I was thinking of Super Flow Through shares witht he up front write off, these were justt he regular kind, so they will flow some of the costs of exploration as writeoff for the investors (wich will lower their ACB)