The market has no time for junior miners or those trying to push...

The market has no time for junior miners or those trying to push into production atm. This is perfectly understandable given the failure of companies like CUO who also had quite reasonable resources. Mining is for the big boys who have cash reserves, low cost production and diversification to carry them through a commodity melt-down. On the other hand the market is still prepared to buy junior explorers - so long as they don't have any near-term intention to mine. The option of sale or JV with a major or the Chinese is still valuable to shareholders, and also quite likely the only financing options at present - no matter the quality of the project.

Compare to companies like GBZ - its market cap is greater then URL purely on nearology to CDU. But URL can also claim nearology to CDU, Xstrata, IVA etc. So why not shelve the mining plans and start drilling some holes?