I think too that something we should all keep in mind, this is an exploration company and the value that shareholders might see is totally dependant on drill results which adds value to the land packages that they may have.
Even knowing that Reed Lake is a good sized deposit, they still need to define the directions that this deposit is moving.
IMO they are still a ways off from moving from explorer to producer, and there will be a need for big influxes of capital.
HBM needs to get their ship in line and when they do, then we can look at a partnership that will be of benefit to the shareholders