You're both right... MTO wouldn't be trading at these prices if it wasn't for the current global economic situation and investor sentiment, but now that it is, only certain things will move the share price and Ozgoode has listed them. One not on the list is a general recovery of the economy (Art27 is pointing out) which isn't likely to happen anytime soon. As a result, other developments will have to drive the market cap up. Ozgoode already listed them: a huge increase in gold price, MTO meeting production goals and costs (in other words good financials), proving up oz in the ground, increasing production, a buy-out...

I'm still waiting to see what their plans are going forward. Currently there are too many unknowns with MTO. Investors need to be convinced that some of the things listed above will occur. Those are the things within the company's control or at least partly in their control.