In the middle of 2013 they had 1bn SOI and a SP hovering around...

In the middle of 2013 they had 1bn SOI and a SP hovering around 20c - that's when Iron ore was around $120 USD. They now have going on 3BN SOI after the last cap raise with an ore price hovering around $80-90 USD. So let's say they had a monthly average SP of 30c in mid-2013, divide that by 3 for dilution - now you get 10c. Obviously, other factors are in play, (currency fluctuations etc.) but the dilution of the SP by having triple the amount of SOI makes old prices (pre 2014) almost impossible to attain. 10c would be lovely coming from .6-7c, however, the Fe price is also 60-65% lower than back then, so without taking any other factors into play (of which there are many) 6.5c would give us a SP based on (bad maths alone) alone - and a MC of $195m. Even 2c is puts CTM at a MC of around 60m..sooo many shares, soo much dilution. Let's hope they can sort this out over time - preferrably once they have something massive that adds value to the company.