Ann: Additional Pyrometallurgical Extraction Results, page-119

For a company like BBX its the risks vs opportunities that drive the SP. Estimation of value is a complex process, valuation is discounted depending upon the perceived risk.

When the likes of Drake Private Investments LLC were recently trying to buy all our shares, that boosted sharholder confidence and impacted the market value. One assumes that a global macro fund like Drake would have demonstrated due diligence before they attempted to take over the company. They must have weighed the risk against the upside potential that had recently been indicated by the exploration work at that stage. Since that time we've had excellent Au in soil anomalies and so now you'll be paying more if you want a piece of the action, assuming thats the reason you've become involved here.

Anyhow, I feel that most of the small holders posting here are happy to keep a open mind and look for positive oportunities. They are well aware of the limitations of the technical studies but are not playing with their last brass razoos; if they were, then yes it would be sensible to adopt your more negative, risk averse attitude.