not necessarily, NST went from 65c to $1.50+ all because of gold resources increases, all the while the POG was around $1400 or so, if PXG can get reserves from 1.13m oz to around 1.5m oz, I think the market will respond very nicely in due time to an update like that.
PXG Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held