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In the long run, stock prices will be more related to return on invested capital, but in the short run, stock prices can be based on just about anything.  When there are more sellers of anything than there are buyers, the price of that thing goes down.  Kimber went from 2 to 1 because there were more sellers than buyers.  Why this type of thing  happens may or may not have to do with the underlying fundamentals of a company, but many times it has to do with lack of patience or a belief on the part of investors that capital can achieve better gains somewhere else.  More often than not, there is no rationality to it.  Somebody starts selling and everyone else starts selling in response.  It's a crowd-like mentality that most of us are prone to.  Short term market movements, in essense are not rational, but emotional, therefore emotional stability is the primary quality that will enable you to analyze them intelligently. When you analyse the recent movements in Kimbers stock, over the past year or so, you will see that they are not rational, but based on a wide variety of interconnected factors that relate intimately with stock movements but not at all with company prospects.  In other words, Kimber is a real bargain right now. 

In regards to management changes:  Directors come and go.  People's lives change and they decide to move on.  There's still just as much gold in the ground on the Carmen.  Financing is necessary to get that gold out of the ground, until Kimber starts producing it's a money losing propostion.  But, so are children. if you think about it.  All they do is take, take, take, but you keep giving, giving and giving to them in hopes that some day they will go out into the world and make it a better place because of your efforts.  That's what a junor mining company is. It's a child. You have to change its diapers and rub its back when its up at night puking and read to it at night and teach it to throw a basball and teach it to drive a car, and one day, when you least expect it,  it goes out and becomes a grown up mine and starts pulling gold out of the ground and makes you rich.   All the best, SB