I agree that it looks undervalued, but there HAS to be some reason that we're looking at a share price at its lowest since late 2005.  Are there investors in the know who feel that the royalty stream won't be so strong in the future?  Who knows?  But you'd think that logic would eventual set in and VGN would at least get out of the teens.

One thing that I've noticed is that many good little Nevada gold stocks simply haven't moved in the last year as more focus has been paid to South America.  Hopefully the rising price of gold will help them all out. Just like the old saying, "a rising tide lifts all boats".