The low sp in relation to value has also affected the majors. Interestingly, this has seemed to affect mergers and acquisitions. The majors deperately need new resources, which many get by acquiring juniors, especially those that have gotten to production or have at least proved up some resources. Majors will also make acquisitions before resources are proved up if they are confident that an explorer has happened upon a rich find. So why aren't these cheap juniors being gobbled up? Some speculate that it is because often the major will use stock for the acquisition, and with the majors undervalued now even an undervalued junior would require too much of the major's stock to buy. Let's hope SFMI comes to the attention of a major that is flush with cash...