In reality, Snowfield is far from starting back at zero and this is where there is a huge disconnect between the s/p and what is happening up at Mud Lake.

The company is not standing around waiting for the De Beers results. Far from it. A very talented team is drilling into the Mud Lake deposit as we speak and searching for more kimberlite with highly encouraging indicator minerals as its guide. The caustic dissolution of the concentrate at the SRC will yield more results within a month. This will liberate the diamonds that may have been caught up in the coarsely crushed concentrate or taken out by the magnetic filtering. In addition to this, we know that drill cores have proven there to be diamonds in the lower sills. No test results are at hand to prove otherwise, so for all we know we may be sitting on a motherlode of them. Who knows? But, you can rest assured that the geologists will be getting a much better understanding of each of the kimberlite sills in the coming weeks.

The "this play is dead" syndrome is what took the share price down to this level. It will take a lot of hard work, on the part of management and field staff to get the show back on the road. IMHO, Snowfield is off to a good start.