When you do as John says and look at total market cap it's very clear that SPQ is trading much lower than BMK and others involved in the 'area' play who have yet to hit high grade deposits.
For argument sake I've said that Noront has $1 for blue sky or the chance of finding additional deposits. SPQ isn't that poorly placed with land holdings that, using this rule of thumb, SPQ should have 40 to 50 cents speculative value on it.
My personal opinion is that SPQ likely should be trading pretty darn close to where BMK is now. Mind you I feel BMK is undervalued by market at this time.
Obviously the market sees things differently and all we get in SPQ shares are bottom feeders and traders wanting a half cent movement to cash in. Not entirely sure what it will take to change things around.
Oh well think I'll go bottom fish and try to pick up more shares in SPQ while holders are throwing away there shares. That's me down at 11 cents, say hello.