Another thing to consider is ... Is the stock REALLY undervalued?

slide 18 of the lates presentation shows the SP incomparison to other companies. Most aboive average companies are already producing and at least 2, rainy river and eastmain have been exploring since before 2007.

rainy river is leading up to a feasibility study next year and is probably the closest comparison. by that standard we should be around 90 cents to a buck right now. I can see that happening within a few months. A pre-feasibility will certainly help in that regard (assuming it's good)

IMO The biggest take away from that chart is the potential as we derisk and lead into production (late 2014 early 2015). When the chart was created we were in the 60 cent range so to go from current EV to max where osisko is we get about $3 per share (assuming no dillution).... but we're not there yet. Also any added or upgraded resources will also add to that potential.