1- Check out the Balance sheet again and read the filing, as I feel you did not realized they have already taken reserve for the land loss at the end of 12-31-2007 into the account. With that there is still book value of $11.5M, not $5M as you suggested. (Keep in mind there is a possibility still the land give them a profit in the future).
2- The market value of 2 of their mining in Yukan is north of $30M as it has been posted here b4 the sale price in the mining sales ad.
3-The Gold market is about to break its upside to $1200 and $1600 later this year & next with theFed-Bernakee hyperinflationary policies and the almost broken international banking system.
4-Cash-rich gold miners set their M&A sights lower
http://in.reuters.com/article/innovationNews/idINN3034216520080530
Imo the stock price will move north of $100 a share within next 12 month.
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