"This is one piece of evidence for an irrational market." Quite to the contrary it represents a rational market. The previous price in the 20s, as current, reflects the lack of sufficient progress with infrastructures which are necessary to provide an atmosphere of faith and hope. While the rise in between to the 40s was due to the Pickle Lake power line announcement. With that small news having run it's course the sellers returned and sp came back to previous level. To me all that sp reflection is quite logical. What is illogical is the short sighted opinion that all is lost in the short term and little hope for the future.