How much lower can this share price go? If the assets really are...

How much lower can this share price go? If the assets really are as good as we believe that they are, and I am certain that the quality of Mbila and Kangwane rank the coal amongst some of the best in the world, then where is the support for this stock?

If it is not the assets, then the other fundamentals are:

1. management;
2. soverign risk;
3. global markets and outlook; and
4. financing.

Surely there is some support soon, but how can we develop an asset with $4m in the bank and capex of $85m for phase 1, we must be trading cum raising?

Any ideas?