A company like this, when operating, could produce cash flows that could very easily drive the stock price to a range of $1 - $2. Just plug the possible cash flow from operations in with a minimal reinvestment rate and you would be close...even with a 2-3 year time horizon.

Even an updated report on our reserves showing something proven would raise the break-up value of this stock substantially. The resources are worth something in the ground and a whole lot more on the open market.

I'm no mining expert, but IRR on companies is based on the same equation. Of course, I've not run any numbers, so this is my logical input from a banker's perspective.