I don't subscribe to your view that HUI predicts the "fair value" of POG. For one thing, HUI is strongly affected by the general market. Second, recent speculation in juniors has nothing to do with fundamentals IMO. It's just speculation by momentum crowd; the price here is irrelevant, and it reflects nothing but the willingess to speculate.
I strongly suspect that people buying DEZ above $3.18 had absolutely no interest in this stock at $0.50.