I think it's interesting to compare the gold price sensitivity...

I think it's interesting to compare the gold price sensitivity for Scoping vs PFS (below):

You can see in the scoping (NPV $18.6mill, top table 14a), that the project was not great in a lower gold price environment. At $1400-$1500, it had very low NPV.   

The table below is from the PFS, and you can see that even at AUD POG $1400 the project now still has an NPV of $25.8mill.  At $1650 (currently $1675), the project NPV is $66mil.

So assuming Rothsay gets into production by mid next year and the POG holds above $1600, the company should be worth a lot more than $15mill IMO.

Also, the more gold they find, the more valuable the project gets, as it already stacks up at the moment and the plant will get funded and built (again IMO).

The project is sensitive to costs, but even assuming a +5% overrun in OPEX, NPV is still $41.3mill, significantly above the current MC of $15mill.   I guess my point is that even if the gold price falls and they experience operating issues, it still looks good value at $15mill.