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Think of the mountain as a a priceless log cabin in Aspen.
Think of our BOD as termites.
Even though the real estate market (aka gold/copper prices) have exploded over the past decade the log cabin has lost almost all of its value because its been infested with termites.
Because of the inherent value of this spectacular property the owners (aka shareholders) have spent inordinate amounts of money (shares) maintaining the house and keeping it from falling down.
But the termites persist.
Finally, nine months ago the exterminators (aka Auryn) decided to show up and the termites issue was finally addressed. With the extermination of the first termite (JJ) the owners knew that the true value of the house would finally be achieved. However, the market didn't assign this value because nobody's going to buy a house until ALL of the termites are gone.
With the ADL JV and the pending JV for the LDM this house is nearly termite free. The owners know it but the market is waiting for confirmation. We're almost there and I for one am ready to sell this Aspen house and move to Kauai.
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