cut the anchor already !

Can anyone think of any reason why this stock is stuck in the mid 40's ??

Im completly baffled why its not appreciating at the same pace as other west african gold plays.

They havent locked down the required hedging as yet, but I would of thought that was a good thing since gold is still in its uptrend.

All required permits intact, finance bedded down, construction underway,good exploration potential on top of the 2 million ounces - mostly of which is in the PROVEN category, and 12 months away from 100,000 ounces a year producer.

So what is it ?? Anyone have an idea ? No matter how trivial I would appreciate your input,

Cheers.