I note your reference to "fair valuation: ""Fair Valuation" can at least be increased with a factor 2 or 3...". It appears that the fair valuation they mention is based only on their valuation of the three base metal deposits. So far as I know no value is given to the company for the fact that they are presently drilling a "large anomaly" near one of these base metal deposits. Also no value is given to the company for their gold properties including at Chibougamau, Red Lake and Windfall. My estimation is that the "fair valuation" of .63 that they arrived at is quite conservative and as you suggest could be increased by a factor of 2 or 3 and who knows. The future for this company looks bright. IMHO.